Common use of Renewal Program Clause in Contracts

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