The Council will provide Parent Company Guarantees for the Heat Supply Agreement and Lease for energetik’s energy centre at meridian Water.
SSEL will remain contracted to deliver the project and enter a Heat Supply Agreement with the Council.
The Contractor shall not agree the final terms of, or enter into, the Goonvean Heat Supply Agreement without the prior written approval of the Authority (such approval not to be unreasonably withheld or delayed having regard to paragraph 4.3).
Parent Company Guarantees 7.2.16 Guarantees required to support energetik entering into the Heat Supply Agreement, Agreement for Lease and Lease: energetik intends to enter into these agreements as a means of obtaining greater certainty that North London Waste Authority will deliver items which are important to the future performance of the heat network (e.g. the Energy Recovery Facility, from which energetik will purchase heat).
The Contractor shall, in accordance with paragraphs 4.3 and 4.4, use reasonable endeavours to enter into the Goonvean Heat Supply Agreement in accordance with the Goonvean Heads of Terms Agreement.