THIRD PARAGRAPH. The Power Consumption Reserve Chart dealt with in ANNEX I shall be elaborated and defined during each year electric power is supplied, pursuant the following rules:
THIRD PARAGRAPH. In case the CONSUMER fails to pay its monthly bills on their respective due dates at a place indicated by CHESF, the latter shall be released by law from having to maintain the Reserves of Electric Power as determined by this AGREEMENT or to go on supplying said electric power as determined herein, and it may go ahead with the interruption of the supply of electric power pursuant to law. Fourth Paragraph – Taking into account the fact that the CONSUMER is allowed to acquire electric power in a free condition and in addition to the amounts established in this AGREEMENT, and as disposed in this Clause, it is agreed forthwith between the PARTIES that the interruption of supply established in the previous Paragraph shall correspond to the full power load.
THIRD PARAGRAPH. In case the original collection document is presented at any time after the due date established in the previous paragraph for any reasons that cannot be blamed on the CONSUMER, the due date of the Invoice/Electric Power Bill affected by the delay, and pertaining to said collection document shall be automatically extended by the same number of days as those of the delays.
THIRD PARAGRAPH. The Parties agree that the price of fuel may be readjusted, among other reasons, under the following circumstances when the grounds mentioned below affect the price of JET A-1: (i) by disposition of the Ministry of Mines and Energy, or the Commission for Regulation of Energy and Gas “CREG”, or whoever replaces it or by the competent authority, in cases when said Ministry, the CREG or the competent entity, make changes to the fuel price structure; (ii) upon issuance of standards that modify the fuel price or that of any of its components. The above circumstances are inclusive and not limited, thereby modification of the fuel price for reasons other than TERPEL’S decision and that modify the supply conditions, may affect the initially agreed fares; (iii) the parties expressly agree to comply with the tax obligations resulting from taxes issued and procedures decreed by competent authorities of the Colombian Government, under penalty of breach of contract; (iv) modifications to existing taxes and the creation of new taxes through tax reform or in general by modifying applicable law, within the term of the agreement, entitle the parties to review the agreement in good faith in order to adjusted in so far as possible in relation to the objective initially sought by the negotiation, considering the new applicable law. If the stamp tax should increase and this agreement is covered by the fare variation, the value of the levied tax shall apply equally to the contracting parties. However, in any case, modification of price, prior to application, must be duly notified and supported by TERPEL.
THIRD PARAGRAPH. In case of insufficiency of funds for 3 (three) consecutive months, the deadline for amortization, which Sixth Clause refers to, must be postponed by means of the celebration of an amendment to the Contract, so that the payment of the main and of the accessories of the debt may be accomplished with the new flow of assets, if the percentage of the monthly earnings of the BENEFICIARY foreseen in Seventh Clause has been kept.
THIRD PARAGRAPH. The obligation of paying rentals on behalf THE LESSEE will not terminate by the fact of ceasing temporary or definitively operation of the leased equipment or due to repair, transference, transformation, strike or a catastrophe at the corporation, and in general for any non attributable cause to THE LESSOR.
THIRD PARAGRAPH. The presence of at least half of the Board of Directors members shall be required for the installation of a meeting of the Board of Directors on first call, and the presence of any number of the members of the Board of Directors shall be required for the installation of a meeting on second call. For purposes of the quorum required in this Paragraph, it shall include the members represented as authorized by these By-laws.