Common use of Transfer of COLs Clause in Contracts

Transfer of COLs. Notwithstanding any provision of this Agreement to the contrary, if both of the COLs issued to the Borrower have been transferred to another Person, then, with effect from the date of such transfer, or NRC approval thereof, whichever is later, the Borrower shall no longer be required to comply with Section 6.7 (Construction and Operation of Project) or Section 6.13(e) (Foreign Ownership).

Transfer of COLs. Notwithstanding any provision of this Agreement to the contrary, if both of the COLs issued to the Borrower have been transferred to another Person, then, with effect from the date of such transfer, or NRC approval thereof, whichever is later, the Borrower shall no longer be required to comply with Section 6.7 6.5 (Construction and Operation of Project) or Section 6.13(e6.11(e) (Foreign Ownership).