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Title: |
Participation Agreement |
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Date: |
2004 |
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Size: |
Preview shows 8KB of 183KB total |
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$54 |
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ID: |
#1397749 |
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TO
PARTICIPATION AGREEMENT
==============================================================================
LEASE AGREEMENT
dated as of September 1, 1979
between
PORTLAND GENERAL ELECTRIC COMPANY, as Lessee,
and
FIRST NATIONAL BANK OF OREGON,
as Lessor and Owner Trustee
__________________
Coal Unloading and Handling Facility
------------------------------------
Boardman, Oregon
----------------
==============================================================================
NOTE: THIS LEASE AGREEMENT HAS BEEN ASSIGNED TO AND IS SUBJECT TO A SECURITY
INTEREST IN FAVOR OF UNITED STATES NATIONAL BANK OF OREGON, INDENTURE TRUSTEE,
UNDER AND TO THE EXTENT SET FORTH IN THE INDENTURE AND FIRST DEED OF TRUST DATED
AS OF SEPTEMBER 1, 1979, BETWEEN FIRST NATIONAL BANK OF OREGON, AS OWNER
TRUSTEE, AND UNITED STATES NATIONAL BANK OF OREGON, AS INDENTURE TRUSTEE, AS
SUCH INDENTURE AND FIRST DEED OF TRUST MAY BE AMENDED, MODIFIED, OR SUPPLEMENTED
FROM TIME TO TIME IN ACCORDANCE WITH THE PROVISIONS THEREOF. THIS LEASE
AGREEMENT HAS BEEN EXECUTED IN SEVERAL COUNTERPARTS. ONLY THE ORIGINAL
COUNTERPART CONTAINING THE RECEIPT THEREFOR EXECUTED BY UNITED STATES NATIONAL
BANK OF OREGON ON THE SIGNATURE PAGE THEREOF EVIDENCES THE MONETARY OBLIGATIONS
OF THE LESSEE HEREUNDER. SEE SECTION 27 HEREOF FOR FURTHER INFORMATION
CONCERNING THE RIGHTS OF THE HOLDERS OF THE OTHER COUNTERPARTS HEREOF.
<PAGE>
TABLE OF CONTENTS
(LEASE AGREEMENT)
Page
----
PARTIES................................................................1
RECITAL................................................................1
SECTION 1. Definitions ..............................................1
SECTION 2. Purchase of Equipment by Lessor..........................12
SECTION 3. Lease of Equipment; Lease Term...........................12
SECTION 4. Rent.....................................................13
SECTION 5. Representations, Warranties and
Agreements as to the Equipment;
Claims Against Contractors.............................15
SECTION 6. Liens....................................................17
SECTION 7. Operation; Maintenance; Alterations,
Modifications and Additions............................17
SECTION 8. Identification...........................................22
SECTION 9. Insurance................................................22
SECTION 10. Storage; Maintenance; Return of
Equipment .............................................27
SECTION 11. Financial Information....................................28
SECTION 12. Loss, Destruction, Condemnation or
Damage.................................................30
SECTION 13. No Interest Conveyed to Lessee...........................33
SECTION 14. Assignment and Sublease; Location........................33
SECTION 15. Inspection and Reports...................................34
SECTION 16. Events of Default........................................36
SECTION 17. Remedies.................................................39
SECTION 18. Right To Perform for Lessee..............................42
SECTION 19. Lessee's Options to Renew Lease..........................43
SECTION 20. Lessee's Options to Purchase the
Equipment..............................................44
SECTION 21. Obsolescence Termination; Lessor's
Option.................................................47
SECTION 22. Further Assurances.......................................48
SECTION 23. Successor Trustee; Cotrustee.............................49
SECTION 24. Liabilities of Owner Participant.........................49
SECTION 25. Trust Indenture Estate as Security
for Owner Trustee's Obligations
to Holders of Secured Notes............................50
SECTION 26. Grant of Certain Rights to Lessee........................51
SECTION 27. Counterparts; Uniform Commercial Code....................51
SECTION 28. Notices..................................................51
SECTION 29. Miscellaneous............................................52
TESTIMONIUM...........................................................52
SIGNATURES AND SEALS..................................................53
<PAGE>
ii
Page
----
ACKNOWLEDGMENTS
SCHEDULE 1. Basic Rent
SCHEDULE 2. Stipulated Loss Values
SCHEDULE 3. Termination Values
EXHIBIT A. Bargain and Sale Deed,
Bill of Sale and Assignment
Schedule 1. Description of Equipment
-----------
Schedule 2. Liens on Equipment
-----------
Schedule 3. List of Contracts
-----------
EXHIBIT B. Form of Lease Supplement
<PAGE>
LEASE AGREEMENT
LEASE AGREEMENT dated as of September 1,
1979, between PORTLAND GENERAL ELECTRIC COMPANY, an
Oregon corporation, as Lessee (capitalized terms
being used as hereinafter defined), and FIRST
NATIONAL BANK OF OREGON, a national banking
association, as Lessor.
In consideration of the mutual agreements herein contained and other
good and valuable consideration, receipt of which is hereby acknowledged, the
parties hereto hereby agree as follows:
SECTION 1. Definitions. Unless the context shall otherwise require,
the following terms shall have the following meanings for all purposes hereof
(such definitions to be equally applicable to both the singular and plural forms
of the terms defined):
"Affiliate" shall have the meaning specified in the Participation
Agreement.
"Alterations" shall have the meaning specified in Section 7(d).
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