Causes of Rescission Sample Clauses

Causes of Rescission. The following shall be causes of rescission of this APP: 1. For causes exclusively attributable to the DEVELOPER: a. Not executing the MINUTES OF COMMENCEMENT OF THE APP in the terms and conditions provided in this APP. b. Assign, transfer or encumber in any way this APP or any of the rights arising from it, without the prior written approval of CEA except for the assignment of collection rights of the CONSIDERATION and the pledge over shares representing the corporate capital of the DEVELOPER, set forth in the APP. c. Not obtaining or maintaining the effectiveness of the guarantees or insurances referred to in this APP. d. Not obtaining, due to causes exclusively attributable to the DEVELOPER, the corresponding authorizations for the WASTE WATER; as well as the ENVIRONMENTAL IMPACT STATEMENT. e. Breach during the OPERATION PERIOD, due to causes exclusively attributable to the DEVELOPER, of the quantity and quality parameters of the POTABLE WATER established in this APP and its exhibits, during a term exceeding 60 (sixty) consecutive BUSINESS DAYS counted as from the date on which there is knowledge of the deficiencies in such parameters, or, during a period exceeding 180 (one hundred and eighty) discontinuous BUSINESS DAYS within 1 (one) calendar year. f. The unjustified suspension or delay in the preparation of the EXECUTIVE PROJECT or the construction, equipment, TESTS and set-up of operations of the PROJECT WORKS, for causes exclusively attributable to the DEVELOPER, for a period greater than 180 (one hundred and eighty) BUSINESS DAYS with respect to that provided in the CALENDARED SCHEDULE, provided that, after carrying out the corresponding notice of breach to the DEVELOPER and the lapsing of the cure period established below, it implies an equivalent delay in the date foreseen for the commencement of the OPERATION PERIOD and consequently, the MINUTES OF COMMENCEMENT OF OPERATION are not executed. g. The total suspension of the operation of the SEAWATER DESALINATION PLANT for a term greater than 60 (sixty) consecutive BUSINESS DAYS, or 180 (one hundred and eighty) discontinuous BUSINESS DAYS within a period of 1 (one) year without a justified cause. h. To modify the legal nature of the DEVELOPER, its nationality, corporate structure or the participation percentages of the shareholders in the corporate capital, without the prior written approval of CEA. i. The juridical, legal or judicial inability of the DEVELOPER, which prevents it from complying wi...
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