Notice by Operator Clause Samples
Notice by Operator. If the Operator is of the opinion that an Intervening Event has occurred or is likely to occur, it must promptly give the Principal's Representative a written notice, which must include full particulars of all relevant matters including:
(a) details of the Intervening Event and details of the basis on which the Operator has formed the opinion that the relevant event constitutes an Intervening Event;
(b) details of the obligations affected (including any effect on Performance Measures under the Performance Regime);
(c) details of the action that the Operator has taken and proposes to take to avoid or minimise the consequences of the Intervening Event;
(d) to the extent possible, an estimate of the time during which the Operator will be unable to carry out the affected obligations due to the Intervening Event; and
(e) details of any insurance proceeds on which the Operator may be able to rely in relation to the Intervening Event, (Intervening Event Notice).
Notice by Operator. If, prior to the Occupation Right Agreement becoming unconditional, the Operator receives a further application for the unit on terms acceptable to the Operator, the Operator may give the Resident five (5) working days notice to confirm the Occupation Right Agreement as unconditional after which the Occupation Right Agreement will lapse and any deposit shall be refunded promptly.