IN THE SWITCHYARD. AFTER THE
SWITCHYARD IS TAXED AS A SEPARATE TAX PARCEL FOR PROPERTY TAX PURPOSES, LANDLORD
SHALL PAY THE IMPOSITIONS THAT RELATE TO THE SWITCHYARD.
PRIOR TO THE DATE ON
WHICH LANDLORD OR COMED GIVES WRITTEN NOTICE TO TENANT THAT THE SYNCHRONOUS
CONDENSERS HAVE BEEN RELOCATED OR ABANDONED IN PLACE, LANDLORD SHALL REIMBURSE
TENANT $183,431 PER YEAR FOR IMPOSITIONS ATTRIBUTABLE TO IMPROVEMENTS IN USE BY
LANDLORD OR COMED IN THE SYNCHRONOUS CONDENSER AREA.
ALL OF LANDLORD'S
OBLIGATIONS TO REIMBURSE TENANT IN RESPECT OF PROPERTY TAXES AS SET FORTH IN
THIS SECTION 5.5 SHALL BE PRORATED FOR PARTIAL YEARS AND SHALL BE PAYABLE IN TWO
INSTALLMENTS ON MARCH 1 AND OCTOBER 1 IN EACH YEAR DURING THE LEASE TERM.
IF
LANDLORD OR ITS AFFILIATE ELECTS TO CONSTRUCT THE NEW VAR FACILITY ON THE
PREMISES, LANDLORD SHALL PETITION THE APPROPRIATE GOVERNMENTAL AUTHORITIES TO
CAUSE THE NEW VAR FACILITY AREA TO BE TAXED AS A SEPARATE TAX PARCEL FOR
PROPERTY TAX PURPOSES, AND LANDLORD SHALL REIMBURSE TENANT FOR IMPOSITIONS
ATTRIBUTABLE TO THE NEW VAR FACILITY AREA AND IMPROVEMENTS IN THE NEW VAR
FACILITY AREA.
[* PERCENTAGES WILL BE DETERMINED ON THE BASIS OF SURVEYS BEFORE THE LEASE
COMMENCEMENT DATE.]
ARTICLE VI
USE OF PREMISES
6.1
USE OF PREMISES.
TENANT SHALL USE AND OCCUPY THE PREMISES ONLY FOR THE
PERFORMANCE OF TENANT'S OBLIGATIONS UNDER THIS LEASE, THE ASSET SALE AGREEMENT
AND THE OTHER DOCUMENTS CONTEMPLATED BY THE ASSET SALE AGREEMENT.
6.2
SITE RESTORATION MILESTONES.
TENANT SHALL USE DILIGENT EFFORTS TO PERFORM
REQUIRED DECOMMISSIONING WORK ON A SCHEDULE CALCULATED TO ACHIEVE EACH OF THE
FOLLOWING ON OR BEFORE THE RESPECTIVE DATES INDICATED BELOW (EACH A "SITE
RESTORATION MILESTONE"), IT BEING UNDERSTOOD
10
THAT THE APPLICABLE DEADLINE FOR ANY PARTICULAR SITE RESTORATION MILESTONE SHALL
BE SUBJECT TO EXTENSION FOR EVENTS OF FORCE MAJEURE AND SCHEDULE EXTENSION
CONDITIONS THAT AFFECT THE PERFORMANCE OF WORK REQUIRED UNDER THIS LEASE TO
ACHIEVE THAT SITE RESTORATION MILESTONE:
(A) TENANT SHALL SUBMIT TO THE NRC INFORMATION SUPPORTING A "LICENSE TERMINATION
PLAN" (E.G. SITE RELEASE CRITERIA, SURVEY PLANS, AND OTHER RELEVANT DATA) WITHIN
54 MONTHS AFTER THE LEASE COMMENCEMENT DATE;
(B) TENANT SHALL COMPLETE REMOVAL OF THE MAJOR EQUIPMENT LISTED ON EXHIBIT D
FROM THE PREMISES WITHIN 66 MONTHS AFTER THE LEASE COMMENCEMENT DATE; AND
(C) TENANT SHALL COMPLETE THE ISFSI CAMPAIGN WITHIN 72 MONTHS AFTER THE LEASE
COMMENCEMENT DATE.
6.3
DEFERRAL OF RECEIVABLES.
FOR EACH MONTH IN WHICH TENANT FAILS TO ACHIEVE
ANY SITE RESTORATION MILESTONE BY THE APPLICABLE DEADLINE, TENANT SHALL DEFER,
AND SHALL CAUSE ITS AFFILIATES TO DEFER, RECEIVABLES DUE AND PAYABLE FROM THE
BUYER QDF, THE BUYER NDF OR THE BUYER BACKUP NDT IN AN AMOUNT EQUAL TO
$5,000,000 PER MONTH (PRORATED FOR PARTIAL MONTHS) OR SUCH LESSER AMOUNT AS MAY
BE DUE TO TENANT AND ITS AFFILIATES IN SUCH MONTH.
SUCH MONTHLY DEFERRALS OF
RECEIVABLES SHALL CONTINUE UNTIL COMPLETION OF THE APPLICABLE SITE RESTORATION
MILESTONE, AT WHICH POINT SUCH RECEIVABLES MAY BE PAID, WITHOUT INTEREST, FROM
THE BUYER QDF, THE BUYER NDF OR THE