Consequences of a Compensation Event Sample Clauses

Consequences of a Compensation Event. 15.1 If, as a direct result of the occurrence of a Compensation Event:
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Consequences of a Compensation Event. (a) If a Compensation Event occurs, Project Co’s sole right to compensation shall be as set out in this Article 23. For greater certainty, except as aforesaid, no other Delay Event shall entitle Project Co to receive any compensation, except as otherwise provided in:
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Consequences of a Compensation Event. If, as a direct result of the occurrence of a Compensation Event: the Private Party is unable to complete the Works or to provide the Services on or before the Operation Commencement Date; the Private Party is unable to comply with its obligations under this PPP Agreement; and/or the Private Party incurs costs or loses revenue, then the Private Party is entitled to apply for relief from its obligations and/or claim compensation under this PPP Agreement. To obtain relief and/or claim compensation the Private Party must: as soon as practicable, and in any event within 21 days after it became aware that the Compensation Event has caused or is likely to cause delay, breach of an obligation under this PPP Agreement and/or the Private Party to incur costs or lose revenue, give to the Institution a notice of its claim for an extension of time of the Operation Commencement Date, payment of compensation and/or relief from its obligations under this PPP Agreement; within 7 days of receipt by the Institution of the notice referred to in clause , give full details of the Compensation Event and the extension of time and/or any estimated change in project costs claimed; and demonstrate to the reasonable satisfaction of the Institution that: the Compensation Event was the direct cause of the estimated change in project costs and/or any delay in the achievement of the Operation Commencement Date; and the estimated change in project costs, time lost, and/or relief from the obligations under this PPP Agreement claimed, could not reasonably be expected to be mitigated or recovered by the Private Party acting in accordance with Good Industry Practice. If the Private Party has complied with its obligations under clause above, then: the Operation Commencement Date shall be postponed by such time as shall be reasonable for such a Compensation Event, taking into account the likely effect of delay; In the case of an additional cost being incurred by the Private Party: on or before the Operation Commencement Date; or as a result of capital expenditure being incurred by the Private Party at any time, the Institution shall compensate the Private Party for the actual estimated change in project costs as adjusted to reflect the actual costs reasonably incurred within 45 days of its receipt of a written demand by the Private Party supported by all relevant information; the Institution shall give the Private Party such relief from its obligations under this Agreement as is reasonable for...
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Related to Consequences of a Compensation Event

  • Compensation Events 44.1 The following are Compensation Events unless they are caused by the Contractor:

  • Consequences of an Event of Default (a) If an Event of Default specified in subsections (a) through (l), (o), (p) or (q) of Section 7.01 shall occur and, be continuing or shall exist, then, in addition to all other rights and remedies which the Administrative Agent or any Lender may have hereunder or under any other Loan Document, at law, in equity or otherwise, the Lenders shall be under no further obligation to make Loans hereunder, and the Administrative Agent may, and, upon the written request of the Required Lenders shall, by notice to the Borrower, from time to time do any or all of the following:

  • Consequences of Termination Upon the termination of this Agreement:

  • TERMINATION AND CONSEQUENCES OF TERMINATION 14.1 On termination of any Service Schedule for whatever reason the Client will cease to have the Services provided thereunder.

  • H4 Consequences of Expiry or Termination H4.1 Where the Authority terminates the Contract under clause F5.5 (Remedies in the Event of Inadequate Performance) or clause H2 (Termination on Default) and then makes other arrangements for the supply of Services, the Authority may recover from the Contractor the cost reasonably incurred of making those other arrangements and any additional expenditure incurred by the Authority throughout the remainder of the Contract Period. The Authority shall take all reasonable steps to mitigate such additional expenditure. Where the Contract is terminated under clause F5.5 or clause H2 (Termination on Default), no further payments shall be payable by the Authority to the Contractor until the Authority has established the final cost of making those other arrangements.

  • CONSEQUENCES OF TERMINATION AND EXPIRY 28.1 Notwithstanding the service of a notice to terminate this Framework Agreement, the Supplier shall continue to fulfil its obligations under this Framework Agreement until the date of expiry or termination of this Framework Agreement or such other date as required under this Clause 28 (Consequences of Termination and Expiry).

  • Consequences of Expiry or Termination 50.1. Where the Authority terminates the Contractor’s interest in the Framework Agreement under clause 42 (Termination Rights) and makes other arrangements for the supply of Services, the Contractor indemnifies the Authority against all costs incurred in making those arrangements.

  • CONSEQUENCES OF EARLY TERMINATION OR OTHER BREACH BY APPLICANT A. In the event that the Applicant terminates this Agreement without the consent of the District, except as provided in Section 7.2 of this Agreement, the Applicant shall pay to the District liquidated damages for such failure within thirty (30) days after receipt of the notice of breach.

  • Termination Events This Agreement may, by notice given prior to or at the Closing, be terminated:

  • Consequences of Default Upon the occurrence of any Event of Default, as defined in the Revenue Sharing Agreement:

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