Handback definition

Handback means where Project Co has done everything that this Agreement requires to enable Project Co to hand back the relevant Returned Facility to the State or Facility Owner in accordance with clause 20.3. Handover means the stage when Project Co has done everything that this Agreement requires to enable Project Co to handover the Relevant Infrastructure in the Handover Condition in accordance with clause 28.6. Handover Bond has the meaning given in clause 28.4(i)(ii).

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Handback means the date at the end of the period of the public-private partnership agreement where the assets or infrastructure which make up the project transfer to a contracting authority;

Handback shall be the full handover and transfer of the Full and Quiet Enjoyment of the Site, all Immovable Property rights, SIAinfrastructure, Airport Services and Commercial Services to the Contracting Authority in line with Article 17;

Examples of Handback in a sentence

• Developer also shall perform Renewal Work according to the other applicable terms of the Technical Provisions, including, when applicable, the Handback Requirements.

• Thereupon, Developer shall deliver such transfers, assignments and other documents, and take such other actions, as TxDOT or the depository institution for the Handback Requirements Reserve shall require to confirm transfer to TxDOT of the Handback Requirements Reserve and funds therein, free and clear of all liens, pledges and encumbrances.

• TxDOT at its election may offset any Termination Compensation owing to Developer by the amount of the Handback Requirements Reserve owing to TxDOT.

• All interest earned or profits realized from the investment of funds in the Handback Requirements Reserve shall be retained therein.

• Eligible Investments in the Handback Requirements Reserve must mature, or the principal of and accrued interest on such Eligible Investments must be available for withdrawal without penalty, not later than such times as shall be necessary to provide funds when needed for payment of draws to Developer, and in any event not later than the end of the Term.

• During the period the Handback Requirements Reserve is in effect, the report also shall set forth the total draws from the Handback Requirements Reserve in the immediately preceding calendar year and the date, amount and use of each draw (including any use for Safety Compliance work).

• The Independent Engineer’s OVT effort during construction will focus on materials, components, systems and Elements where Nonconforming Work, Deviations, Defects or other non-compliance could affect safety, compliance with Governmental Approvals or the Residual Life at Handback.

• Developer shall diligently perform and complete all Renewal Work required to be performed and completed prior to reversion of the Project to TxDOT, based on the required adjustments and changes to the Renewal Work Schedule resulting from the inspections and analysis under the Handback Requirements.

• TxDOT at its election also may offset any excess to be released to Developer by any amount Developer still owes TxDOT for the cost of the independent inspections conducted pursuant to the Handback Requirements.

• The provisions of Schedule Part 18 (Handback Procedure) shall apply to the handback of the Facilities to the Authority on expiry of this Agreement.

More Definitions of Handback

Handback means the date at the end of the period of the public-private partnership agreement where the assets

Handback means the final sign-off and acceptance of the Facility, returning to BC Hydro control for all aspects of maintenance and asset management at the End of Term;

Handback means the effective transition of the Core Government Services and Handback Option Assets to one or more Successor Operators as contemplated by Part W of this Agreement.

Handback means the return of the Project Assets, the FM Components and the Replacement FM Components by Project Co to HMQ on the Expiry Date in accordance with this Agreement;