Common use of Priority Project Clause in Contracts

Priority Project. B.1. Summary and duration of the Priority Project B.1.1. In the IGA, the Commonwealth agreed in-principle to provide funding to projects in New South Wales, subject to Due Diligence and compliance with the Commonwealth’s Business Case Information Requirements and this Agreement. B.1.2. In the IGA, the Commonwealth agreed in-principle to provide funding of up to $708 million for Priority Projects to be delivered by the State, subject to the proposed Priority Project’s satisfying the Commonwealth's Due Diligence Assessment. B.1.3. The State submitted a Business Case to the Commonwealth for a proposed NSW ▇▇▇▇▇▇-▇▇▇▇▇ System Enhanced Environmental Water Delivery Priority Project on 4 July 2012 (the Business Case). B.1.4. The Commonwealth's Due Diligence assessment of the Proposed Project against the Business Case Information Requirements was completed in June 2013. The Proposed Project was approved for funding of up to $180,133,974 (excluding GST) by the Commonwealth Minister for Sustainability, Water, Environment, Population and Communities on 24 June 2013, for the agreed project only, subject to conditions. The conditions of the final Due Diligence are now reflected in this Project Schedule. B.1.5. A Heads of Agreement for the implementation of the ▇▇▇▇▇▇-▇▇▇▇▇ System Enhanced Environmental Water Delivery Priority Project was signed by the Commonwealth Minister for Sustainability, Water, Environment, Population and Communities and was signed by the NSW Minister for Primary Industries on 28 June 2013. B.1.6. This Priority Project consists of the following components: a. The purchase of 19 irrigated farming properties with a total area of 84,417 hectares (the ▇▇▇▇▇▇-▇▇▇▇▇ Land), the ownership of which will be transferred to the State, and the transfer to the Commonwealth of 381,000 unit shares of Lowbidgee Supplementary Water Entitlement (the ▇▇▇▇▇▇-▇▇▇▇▇ Entitlement) in one single licence; b. Infrastructure reconfiguration activities; c. Land transition arrangements; d. Local community offset projects; e. Water management actions; and f. Project management and governance. B.1.7. Project Milestones for this Priority Project are identified in Item C of this Project Schedule. B.1.8. This Priority Project commences on the date this Project Schedule is signed by the Commonwealth and must be completed by 30 June 2019, unless otherwise agreed in writing by the Parties.

Priority Project. B.1. Summary and duration of the Priority ProjectProject‌ B.1.1. In the IGA, the Commonwealth agreed in-principle to provide funding to projects in New South Wales, subject to Due Diligence and compliance with the Commonwealth’s Business Case Information Requirements and this Agreement. B.1.2. In the IGA, the Commonwealth agreed in-principle to provide funding of up to $708 million for Priority Projects to be delivered by the State, subject to the proposed Priority Project’s satisfying the Commonwealth's Due Diligence Assessment. B.1.3. The State submitted a Business Case to the Commonwealth for a proposed NSW ▇▇▇▇▇▇-▇▇▇▇▇ System Enhanced Environmental Water Delivery Priority Project on 4 July 2012 (the Business Case). B.1.4. The Commonwealth's Due Diligence assessment of the Proposed Project against the Business Case Information Requirements was completed in June 2013. The Proposed Project was approved for funding of up to $180,133,974 (excluding GST) by the Commonwealth Minister for Sustainability, Water, Environment, Population and Communities on 24 June 2013, for the agreed project only, subject to conditions. The conditions of the final Due Diligence are now reflected in this Project Schedule. On 31 May 2019, the State advised the Commonwealth that due to underspends in deliverying the project, the funding required for this Project is up to $172,203,478 and this is now reflected in this Project Schedule. B.1.5. A Heads of Agreement for the implementation of the ▇▇▇▇▇▇-▇▇▇▇▇ System Enhanced Environmental Water Delivery Priority Project was signed by the Commonwealth Minister for Sustainability, Water, Environment, Population and Communities and was signed by the NSW Minister for Primary Industries on 28 June 2013. B.1.6. This Priority Project consists of the following components: a. The purchase of 19 irrigated farming properties with a total area of 84,417 hectares (the ▇▇▇▇▇▇-▇▇▇▇▇ Land), the ownership of which will be transferred to the State, and the transfer to the Commonwealth of 381,000 unit shares of Lowbidgee Supplementary Water Entitlement (the ▇▇▇▇▇▇-▇▇▇▇▇ Entitlement) in one single licence; b. Infrastructure reconfiguration activities; c. Land transition arrangements; d. Local community offset projects; e. Water management actions; and f. Project management and governance. B.1.7. Project Milestones for this Priority Project are identified in Item C of this Project Schedule. B.1.8. This Priority Project commences on the date this Project Schedule is signed by the Commonwealth and must be completed by 30 June August 2019, unless otherwise agreed in writing by the Parties.