NPD Requirements definition

NPD Requirements means all of the following requirements: not to make a distribution of profit or surplus, or any transfer of assets to one or more shareholders whether by means of any payment or transfer of assets, directly or indirectly, in cash or in any kind, whether by way of dividend, bonus or release of obligation or in any other way otherwise than: for full consideration; or to the Authority pursuant to Clause 36 (Payment of Surpluses and Compliance with NPD Requirements) or Article [12 or 13] of the Articles of Association); or [Project Co’s Share of a Project Co Change]; or [Project Co’s Share of a Refinancing Gain]; not to amend or delete, or add new provisions to the Articles of Association, which have the effect of amending or frustrating the NPD Mandatory Provisions; to comply with the NPD Mandatory Provisions; and not to frustrate the appointment of the Public Interest Director to Project Co’s board of directors in accordance with the Articles of Association
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NPD Requirements means all of the following requirements:
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Examples of NPD Requirements in a sentence

  • If the Authority wishes to terminate this Agreement under this Clause 45 (Breach of the NPD Requirements), it must first give Project Co notice stating: that the Authority is terminating this Agreement under this Clause 45 (Breach of the NPD Requirements); and that this Agreement will terminate on the date falling 30 Business Days after the date of receipt of the notice.

  • Following termination for Authority Default, Force Majeure, Corrupt Gifts and Fraud, Breach of Refinancing or Breach of Refinancing or Breach of NPD Requirements.

  • If Project Co breaches Clause 36 (Payment of Surpluses and Compliance with NPD Requirements) then the Authority may terminate this Agreement, at any time within 18 months of becoming aware of such breach, in accordance with Clause 45.2 below.

  • If this Agreement is terminated pursuant to Clause 40.1.3(b), Clause 44.3 or Clause 45 (Breach of the NPD Requirements) then the Authority shall pay compensation to Project Co in accordance with Section 4 (Corrupt Gifts and Fraud or Breach of Refinancing or Breach of NPD Requirements) of Schedule Part 17 (Compensation on Termination).

  • On termination of this Agreement in accordance with this Clause 35.2A, the Authority shall pay to the Contractor compensation in accordance with the provisions of Clause 47 (Compensation on Termination for Corrupt Gifts, Fraud and Breach of Refinancing or Breach of the NPD Requirements).

  • Breach by Project Co 45.1 II Project Co breaches Clause 36 (Payment of Surpluses and Compliance with NPD Requirements) then the Authority may terminate this Agreement, at any time within 18 months of becoming aware of such breach, in accordance with Clause 45.2 below.

  • The compensation payable under Part 1 of this Schedule 11 (Termination on Scottish Ministers Default or Voluntary Termination by the Scottish Ministers), Part 2 of this Schedule 11 (Termination for Force Majeure), Part 3 of this Schedule 11 (Termination for Corrupt Gifts and Fraud, Breach of Refinancing or Breach of NPD Requirements) shall be the sole remedy of the Company against the Scottish Ministers in respect of termination of the Agreement.

  • If this Agreement is terminated pursuant to Clause 40.1.3.1(b), Clause 44.3 or Clause 45 (Breach of the NPD Requirements) then the Authority shall pay compensation to Project Co in accordance with Section 4 (Corrupt Gifts and Fraud or Breach of Refinancing or Breach of NPD Requirements) of Schedule Part 17 (Compensation on Termination).