Renewal Program Clause Samples

Renewal Program. 19.3.1 Within 60 days after completion of the Initial Inspection, the Concessionaire will provide the Province’s Representative with a report on the condition of the Project Facilities and a notice setting out: 19.3.1.1 the Concessionaire’s proposals as to the Renewal Works; 19.3.1.2 the Concessionaire’s proposals as to the Renewal Schedule; and 19.3.1.3 the Concessionaire’s estimate of the Renewal Amount (including the identification of specific itemized sums for each specific identified and discrete element of the Renewal Works). 19.3.2 The proposals referred to in Section 19.3.1.1 will be made, inter alia: 19.3.2.1 on the basis of an assessment of the remaining service life of the relevant element of the Project Facilities in accordance with the provisions of paragraph 2 of Part 4 of Schedule 5 [End of Term Requirements]; and 19.3.2.2 on the assumption that the Project Facilities will be maintained in accordance with the O&M Output Specifications and the O&M Requirements for the remainder of the Contract Period. 19.3.3 The Province’s Representative may, within 60 days after receipt of the notice from the Concessionaire in accordance with Section 19.3.1, by notice to the Concessionaire object to the proposals in respect of any or all of the Renewal Works, the Renewal Schedule and the Renewal Amount (or any element thereof) as set out in the Concessionaire’s notice. The notice from the Province’s Representative will give details of the grounds for such objection and will give the Province’s Representative’s proposals in respect of the Renewal Works and
View SourceView Similar (2)

Related to Renewal Program

  • Renewal Term If not sooner terminated, this Agreement shall renew at the end of the Initial Term and shall thereafter continue for successive annual periods, provided such continuance is specifically approved at least annually (i) by the Fund’s Board of Trustees or (ii) by a vote of a majority of the outstanding voting securities of the relevant portfolio of the Fund, provided that in either event the continuance is also approved by the majority of the Trustees of the Fund who are not interested persons (as defined in the ▇▇▇▇ ▇▇▇) of any party to this Agreement by vote cast in person at a meeting called for the purpose of voting on such approval. If a plan under Rule 12b-1 of the 1940 Act is in effect, continuance of the plan and this Agreement must be approved at least annually by a majority of the Trustees of the Fund who are not interested persons (as defined in the ▇▇▇▇ ▇▇▇) and have no financial interest in the operation of such plan or in any agreements related to such plan, cast in person at a meeting called for the purpose of voting on such approval.

  • Renewal Periods Renewal of registered names may be made in one (1) year increments for up to a maximum of ten (10) years. For the avoidance of doubt, renewal of registered names may not extend their registration period beyond ten (10) years from the time of the renewal.

  • Initial Term and Renewal This Agreement shall become effective upon its execution and, shall have an initial term of five (5) years. Following the expiration of the initial term, the Agreement shall automatically renew for successive one-year terms until such time that the Agreement is terminated by either Party upon giving the other Party six (6) months’ written notice of termination.

  • Renewal, Extension The renewal or extension of any Letter of Credit shall, for purposes hereof, be treated in all respects the same as the issuance of a new Letter of Credit hereunder.

  • Renewal Terms Immediately following the Initial Term this Agreement shall automatically renew for successive one-year periods (a “Renewal Term”).