GEC Clause Samples
The GEC (Guaranteed Energy Cost) clause establishes a commitment by one party, typically an energy service provider, to ensure that energy costs for a facility or project do not exceed a specified amount over a defined period. In practice, this clause often applies to energy performance contracts, where the provider guarantees that implemented energy-saving measures will result in utility bills at or below the agreed threshold, sometimes compensating the client if savings fall short. Its core function is to allocate risk and provide financial certainty to the client by ensuring that projected energy savings are realized and that unexpected cost overruns are not borne by the client.
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GEC. GEC shall procure the observance of the provisions of this Agreement by its subsidiaries, affiliates and Associates.
GEC. G▇▇▇▇▇▇ Hotels is the successor in interest to GEC (an original signatory to the Existing Agreements and an Affiliate of G▇▇▇▇▇▇ Hotels) with respect to GEC’s ownership interest in the Company and rights and obligations under the LLC Agreement and the Registration Rights Agreement.
GEC. An Engineering Services company, operating with a written and executed agreement, which provides goods or services in accordance with established price, terms, and conditions.
GEC. FGEB has been granted certain Exploration Rights with respect to certain mineral properties in Hebei province (as such mineral properties are more fully defined herein) and wishes to form a sino-foreign joint venture (the "JOINT VENTURE"; also as more fully defined herein) for purposes (the "JOINT VENTURE PURPOSES") of the exploration of Minerals on such mineral properties and, if such exploration results in the discovery of an economic deposit of Minerals, for the further purposes of applying to obtain a Mining License to develop one or more mines and produce and process Minerals.
GEC. All use of the GEC ▇▇▇▇ must cease at Completion.
GEC. (A) waives, and will procure that all other members of the GEC Group will waive, any rights, remedies or claims GEC or any other member of the GEC Group may have from time to time against any ▇▇▇▇▇ ▇▇▇▇▇▇ Group Company, any director of an ▇▇▇▇▇ ▇▇▇▇▇▇ Group Company or any Employee with respect to claims arising out of any information, opinion or advice supplied or given (or omitted to be supplied or given) to GEC or any other member of the GEC Group in connection with the proposed entering into of this Agreement or the other Share Purchase Documents and the sale of the ▇▇▇▇▇ ▇▇▇▇▇▇ Shares, other than in the case of fraud, wilful misstatement or wilful omission; and
(B) agrees that any such rights, remedy or claim shall not constitute a defence to any claim by the Purchaser under or in relation to this Agreement (including the Warranties) or the other Share Purchase Documents.
GEC. FGEB has been authorized by The First Geoexploration Bureau of MMI to carry out its duties and enjoy the benefits under this Contract.
GEC. FGEB hereby agrees to transfer to Huajia all its right, title and interest in and to the Additional Permits more particularly described in Schedule "A" attached hereto.
GEC. Grounding electrode conductor: Conductor used to connect grounding electrode to equipment grounding conductor, or to grounded conductor of circuit at service equipment, or at source of separately derived system.