Common use of Acknowledgement by Project Co Clause in Contracts

Acknowledgement by Project Co. (a) Project Co acknowledges and agrees with Owner that, subject to the provisions of Section 8.3 of the Lender’s Direct Agreement, Owner is not responsible for the payment of any Base Progress Payments nor any Legislative Holdbacks in respect thereof, except to the extent deducted from any Interim Reimbursement Payment Amount and Owner Final Reimbursement Payment.

Acknowledgement by Project Co. (a) Project Co acknowledges and agrees with Owner that, subject to the provisions of Section 8.3 of the Lender’s Direct Agreement, Owner is not responsible for the payment of any Base Progress Payments nor any Legislative Holdbacks in respect thereof, except to the extent deducted from any Interim Reimbursement Payment Amount and Owner Final Reimbursement Payment.

Acknowledgement by Project Co. (a) Project Co acknowledges and agrees with Owner that, subject to the provisions of Section 8.3 of the Lender’s Lender‟s Direct Agreement, Owner is not responsible for the payment of any Base Progress Payments nor any Legislative Holdbacks in respect thereof, except to the extent deducted from any Interim Reimbursement Payment Amount and Owner the Final Reimbursement PaymentPayment Amount.