Replacement Project Contract Sample Clauses
Replacement Project Contract. If any Project Contract at any time lapses, terminates, or otherwise ceases to be in full force and effect (whether by reason of expiry or otherwise), unless the goods, services or rights which were the subject matter of such Project Contract are no longer reasonably required for the Project Work, or have been fully delivered or performed and all liabilities and obligations thereunder fully discharged:
(a) Project Co will forthwith enter into, or cause to be entered into, a replacement Project Contract or contracts upon the same or substantially similar terms as the contract so replaced (to the extent reasonably practicable); and
(b) if the City and the relevant party to the Project Contract had entered into a Collateral Agreement with respect to the replaced Project Contract, Project Co will forthwith enter into, or cause the replacement party to the Project Contract to enter into a Collateral Agreement.
Replacement Project Contract. Subject to the provisions of Schedule 15 [Financing Agreement Obligations], if any Project Contract at any time lapses, terminates, or otherwise ceases to be in full force and effect (whether by reason of expiration or otherwise), unless the goods, services or rights which were the subject matter of such Project Contract are no longer reasonably required for the Project or such Project Contract has been fully performed and all liabilities and obligations thereunder have been fully discharged: 34985-2017 25902380.4 Amended and Restated Project Implementation Agreement NG-KIH Project
(a) Operations Co will forthwith enter into, or cause to be entered into, a replacement contract or contracts upon the same or substantially similar terms as the contract so replaced (to the extent reasonably practicable); and
(b) if the Authority and the relevant Project Contractor had entered into a Project Contractor Collateral Agreement with respect to the replaced Project Contract, Operations Co will forthwith enter into, or cause the replacement Project Contractor to enter into, a Project Contractor Collateral Agreement.