ROLE AND STRUCTURE OF WATER TRUST Sample Clauses

ROLE AND STRUCTURE OF WATER TRUST. 6.1 The Parties agree that the Water Trust will be established as a charitable trust which has as its overriding objective continued public ownership (through CCC and SDC) of the resource consents to be obtained by CPWE, which will ensure long-term community protection of the Region’s scarce water resources. Accordingly, the Parties acknowledge that the Water Trust will not be established purely to pursue commercial objectives, it being the intention that such commercial objectives will instead be pursued through the entities which will constitute the permanent structure for the ownership and/or operation of CPWE.
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