BY HOPEWELL Sample Clauses

BY HOPEWELL. If any amount payable by HOPEWELL, whether pursuant to judgment or otherwise, is not paid on or before the due date, HOPEWELL shall pay interest thereon, calculated at the rate of overnight U.S. Federal Funds plus 2% per annum if the amount was due in dollars, and the T-Bill xxxe plus 3% per annum if the amount was due in pesos, from the date that it was due until the date upon which such amount is received by NAPOCOR. AS WITNESS the hands of the duly authorised representatives of the parties hereto on the 9th day of November in the year nineteen hundred and ninety one. FIRST SCHEDULE PROJECT SCOPE AND SPECIFICATIONS I. SCOPE OF AGREEMENT HOPEWELL shall be responsible for the design, supply, delivery, installation/erection and operation, including civil works, testing and commissioning, of a 700 MW Coal-Fired Thermal Power Station consisting of 2 x 350 MW generating units. II. THE SITE The plant site with a land area of approximately 100 hectares is located in Barangay Ibabang Pulo, in the island of Pagbilao Grande, town of Pagbilao in the Province of Quezon. The site itself is approximately 10 kilometres from Pagbilao town proper. Pagbilao is 145 kilometres from Manila. The battery limits of the Site will be agreed by HOPEWELL and NAPOCOR not later than the Effective Date. Presently, access to the site is by sea from Pagbilao Port which is within the Pagbilao town proper. An access road within the island will be constructed which will connect to the mainland with a bridge from either Pagbilao proper or Luaya Point. NAPOCOR shall make available the Site to HOPEWELL for the purpose of building and operating the Power Station. NAPOCOR shall prepare the design and specifications of the interconnection facilities in accordance with NAPOCOR's engineering standards and practices as well as to the operational requirements of the power system.
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