Common use of Change in Costs Clause in Contracts

Change in Costs. The tariff agreed in this Agreement is approved by the ECB, and has an agreed price path, with annual escalations as set out in Error: Reference source not found (Energy Payment). In the event of any Change in Law resulting in a Change in Costs that materially changes the economic position of the Seller, and more specifically has the effect of an increase in cost or decrease in revenue to the Seller of more than five million Namibian dollars in aggregate, projected over the life of the Power Plant in accordance with the Base Case Financial Model, NamPower and the Seller shall approach the ECB to adjust the tariff in terms of the then applicable tariff methodology to ensure that the Seller’s Regulated Equity Return as set out in the Base Case Financial Model is maintained. The Change in Costs as contemplated in Clause 16.1.2 must have the effect of (a) impacting one or more of the inputs in the Base Case Financial Model and / or (b) results in one or more changes to the Grid Code. In the event of a Change in Law (“Change in Costs”) which falls within the ambit of Clause 16.1.3, the Seller may only claim relief for a Change in Costs in the event: the principle effect of such Change in Costs is directly borne by: the Power Project and other power plants forming part of the REFIT Programme; the Seller and not other persons; and in respect of which the Seller is not entitled to any other relief pursuant to any other provisions of this Agreement; and which was not foreseen by the Seller on or before the Signature Date or if it was foreseen, the impact on the Power Project was not foreseen; and which could not reasonably have been foreseen by any person in the position of the Seller on or before the Signature Date or if it could have reasonably have been foreseen, the impact on the Power Project could not reasonably have been foreseen. An increase in taxes of general application which does not discriminate against the Seller or against the Seller and other parties undertaking projects similar to the Power Project under the REFIT Programme shall not be deemed a Change in Costs. A Change in Costs shall not include any Law that was enacted or made but not yet in force as at the Signature Date, or any xxxx that was promulgated for comment at any time before the Signature Date if and to the extent that such xxxx is materially unchanged when enacted and brought in effect.

Change in Costs. The tariff agreed in this Agreement is approved by the ECB, and has an agreed price path, with annual escalations as set out in Error: Reference source not found Annexure C (Energy Payment). In the event of any Change in Law resulting in a Change in Costs that materially changes the economic position of the Seller, and more specifically has the effect of an increase in cost or decrease in revenue to the Seller of more than five million Namibian dollars in aggregate, projected over the life of the Power Plant in accordance with the Base Case Financial Model, NamPower and the Seller shall approach the ECB to adjust the tariff in terms of the then applicable tariff methodology to ensure that the Seller’s Regulated Equity Return as set out in the Base Case Financial Model is maintained. The Change in Costs as contemplated in Clause 16.1.2 must have the effect of (a) impacting one or more of the inputs in the Base Case Financial Model and / or (b) results in one or more changes to the Grid Code. In the event of a Change in Law (“Change in Costs”) which falls within the ambit of Clause 16.1.3, the Seller may only claim relief for a Change in Costs in the event: the principle effect of such Change in Costs is directly borne by: the Power Project and other power plants forming part of the REFIT Programme; the Seller and not other persons; and in respect of which the Seller is not entitled to any other relief pursuant to any other provisions of this Agreement; and which was not foreseen by the Seller on or before the Signature Date or if it was foreseen, the impact on the Power Project was not foreseen; and which could not reasonably have been foreseen by any person in the position of the Seller on or before the Signature Date or if it could have reasonably have been foreseen, the impact on the Power Project could not reasonably have been foreseen. An increase in taxes of general application which does not discriminate against the Seller or against the Seller and other parties undertaking projects similar to the Power Project under the REFIT Programme shall not be deemed a Change in Costs. A Change in Costs shall not include any Law that was enacted or made but not yet in force as at the Signature Date, or any xxxx bill that was promulgated for comment at any time before the Signature Date if and to the extent that such xxxx bill is materially unchanged when enacted and brought in effect.

Change in Costs. The tariff agreed in this Agreement is approved by the ECB, and has an agreed price path, with annual escalations as set out in Error: Reference source not found Annexure C (Energy Payment). In the event of any Change in Law resulting in a Change in Costs that materially changes the economic position of the Seller, and more specifically has the effect of an increase in cost or decrease in revenue to the Seller of more than five million Namibian dollars in aggregate, projected over the life of the Power Plant in accordance with the Base Case Financial Model, NamPower and the Seller shall approach the ECB to adjust the tariff in terms of the then applicable tariff methodology to ensure that the Seller’s Regulated Equity Return as set out in the Base Case Financial Model is maintained. The Change in Costs as contemplated in Clause 16.1.2 must have the effect of (a) impacting one or more of the inputs in the Base Case Financial Model and / or (b) results in one or more changes to the Grid Code. In the event of a Change in Law (“Change in Costs”) which falls within the ambit of Clause 16.1.3, the Seller may only claim relief for a Change in Costs in the event: the principle effect of such Change in Costs is directly borne by: the Power Project and other power plants forming part of the REFIT Programme; the Seller and not other persons; and in respect of which the Seller is not entitled to any other relief pursuant to any other provisions of this Agreement; and which was not foreseen by the Seller on or before the Signature Date or if it was foreseen, the impact on the Power Project was not foreseen; and which could not reasonably have been foreseen by any person in the position of the Seller on or before the Signature Date or if it could have reasonably have been foreseen, the impact on the Power Project could not reasonably have been foreseen. An increase in taxes of general application which does not discriminate against the Seller or against the Seller and other parties undertaking projects similar to the Power Project under the REFIT Programme shall not be deemed a Change in Costs. A Change in Costs shall not include any Law that was enacted or made but not yet in force as at the Signature Date, or any xxxx that was promulgated for comment at any time before the Signature Date if and to the extent that such xxxx is materially unchanged when enacted and brought in effect.