Project Company definition

Project Company means a Subsidiary of a company (or a person in which such company has an interest) which has a special purpose and whose creditors have no recourse to any member of the Bank Group in respect of Financial Indebtedness of that Subsidiary or person, as the case may be, or any of such Subsidiary’s or person’s Subsidiaries (other than recourse to such member of the Bank Group who had granted an Encumbrance over its shares or other interests in such Project Company beneficially owned by it provided that such recourse is limited to an enforcement of such an Encumbrance).
Project Company means the company, incorporated by the Bidder as per Indian laws, in n accordance with Clause 2.16;

Examples of Project Company in a sentence

That, if the Successful Bidder wishes to form a Project Company, the same should be executed within forty-five (45) Days from the issuance of LICA.

In case a Bidder is a consortium, it would be mandatory to incorporate a Project Company in order to sign the PPA; the said Project Company has to be formed within thirty (30) Days from the issuance of LICA.

The aggregate equity shareholding of the Successful Bidder in the issued and paid up share capital, and the voting rights and control of the Project Company shall not be less than fifty one percent (51%) up to completion of First Operational Year.

In case a Bidder is selected as a Successful Bidder, it can choose to incorporate a Project Company.

Minister of State for Petroleum Division (Mr. Jam Kamal Khan):(a) The TAPI Pipeline Company Limited-the TAPI Project Company (TPCL) has been jointly formed by the four TAPI Parties (Turkmenistan.


More Definitions of Project Company

Project Company shall have the meaning set forth in the recitals to this Agreement, and is more particularly described in Part I of Appendix C of the Agreement.
Project Company means a corporation, limited liability company, partnership, joint venture, trust or other entity which is a Subsidiary or Joint Venture of the Operating Company and the direct or indirect owner of a Project.
Project Company means each of the following:
Project Company means the Company incorporated by the Bidder as per The Companies Act, 1956or the Companies Act, 2013 as applicable;