Common use of Reporting Relationships Clause in Contracts

Reporting Relationships. The Operating Committee shall report their activities and recommendations to the Parties or others designated by the Parties. CALCULATION OF THE TERMINATION AMOUNT In the event of termination as a result of a NamPower Event of Default, NamPower will pay an amount (a “Termination Amount”) calculated as follows: Breakage Costs" means all Losses that have been or will be reasonably and properly incurred by the IPP and its Contractors as a result of the termination of this Agreement, including (without limitation): the cost of any materials or goods ordered for the purpose of the Power Project, any expenditure incurred in anticipation of the provision of services or the completion of works in the future; any contracts placed that cannot be cancelled without such Losses being incurred; the cost of demobilization of the Power Project; redundancy payments for employees of the IPP and its Contractors that have been or will be reasonably incurred by The IPP or its Contractors as a result of termination of this Agreement. The foregoing is subject to NamPower not purchasing the Plant as a going concern (as defined in the Labour Act); and

Reporting Relationships. The Operating Committee shall report their activities and recommendations to the Parties or others designated by the Parties. CALCULATION OF THE TERMINATION AMOUNT In the event of termination as a result of a NamPower Event of Default, NamPower will pay an amount (a “Termination Amount”) calculated as follows: Breakage Costs" means all Losses that have been or will be reasonably and properly incurred by the IPP and its Contractors as a result of the termination of this Agreement, including (without limitation): the cost of any materials or goods ordered for the purpose of the Power Generation Project, any expenditure incurred in anticipation of the provision of services or the completion of works in the future; any contracts placed that cannot be cancelled without such Losses being incurred; the cost of demobilization of the Power Generation Project; redundancy payments for employees of the IPP and its Contractors that have been or will be reasonably incurred by The IPP or its Contractors as a result of termination of this Agreement. The foregoing is subject to NamPower not purchasing the Plant as a going concern (as defined in the Labour Act); and