Examples of Nominated Company in a sentence
In case Maha-Metro receives a representation on behalf of the Lenders, within the aforesaid period, Maha-Metro shall withhold the termination for a period not exceeding 180 (one hundred and eighty) days, for enabling the Lenders’ Representative to exercise the Lenders’ right of substitution in accordance with the Substitution Agreement and substitute the Concessionaire with a Nominated Company.
In the event that no company is nominated by the Lender’s Representative to act as the Nominated Company or the company nominated by the Lenders’ Representative in terms of Clause 27.2.1 is not acceptable to Maha-Metro, Maha-Metro shall terminate the agreement with the Concessionaire.
Such rights shall be granted by Maha-Metro through the Novation of the Agreement, if applicable, in favour of the Nominated Company.
Maha-Metro shall also execute a new Substitution Agreement with the Nominated Company and the Lenders, if there be any.
The financial bidding criteria for the bid shall be a Substitution Premium to be paid by the Nominated Company as a consideration to Maha-Metro.