Common use of Remedial Process Clause in Contracts

Remedial Process. Following the issue of Consultation Notice by either Party, within a period not exceeding 90 (ninety) Days or such extended period as the Parties may agree (“Remedial Period”) the Parties shall endeavour to arrive at an agreement as to the manner of rectifying or remedying the underlying Event of Default. Without prejudice to this, if the underlying event is an Operator Event of Default, the Contracting Authority shall endeavour to arrive at an agreement as to one or more of the following measures and/or such other measures as may be considered appropriate by them in the associated circumstances: i. the change of management or control/ownership of the Operator;

Remedial Process. Following the issue of Consultation Notice by either Party, within a period not exceeding 90 (ninety) Days or such extended period as the Parties may agree (“Remedial Period”) the Parties shall shall, endeavour to arrive at an agreement as to the manner of rectifying or remedying the underlying Event of Default. Without prejudice to this, if the underlying event is an Operator a Concessionaire Event of Default, the Contracting Concessioning Authority shall endeavour to arrive at an agreement as to one or more of the following measures and/or such other measures as may be considered appropriate by them in the associated attendant circumstances: i. the change of management or control/ownership of the OperatorConcessionaire; ii. the replacement of the Concessionaire by a new operator (“Selectee”)