Change in Ownership and Operation. 2. In the event (a) of any change in ownership of the Project facilities or (b) any sale, transfer or assignment of shares or interest or other change of control in any PIA is anticipated, GIMAR shall, and cause the concerned PIA to, consult with ADB at least six months prior to the implementation of such change. GIMAR shall, and shall cause the concerned PIA to, ensure that such change be carried out in a lawful and transparent matter.
Change in Ownership and Operation. 7. If any of the following is anticipated: (i) any change in ownership of the road, road facility, or structure financed under the Project; (ii) any sale, transfer, or assignment of interest or control in the road, road facility, or structure financed under the Project; or (iii) any lease or other contract or modification of the functions and authority of the RD over operation and maintenance of any road, road facility, or structure financed under the Project; then the Borrower shall ensure that ADB’s consent is obtained at least six (6) months prior to the implementation of such a
Change in Ownership and Operation. 14. In the event of (a) any change in ownership of the Project facilities, or (b) any sale, transfer or assignment of shares or interest or other change of control in any Project Implementing Agency is anticipated, the HPG shall consult, and cause the concerned Project Implementing Agency to consult, with ADB at least 6 months prior to the implementation of such change. The HPG shall ensure, and cause the concerned Project Implementing Agency to ensure, that such change be carried out in a lawful and transparent matter.
Change in Ownership and Operation. 15. In the event of (a) any change in ownership of the Project facilities; or (b) any sale, transfer or assignment of shares or interest or other change of control in any Project Implementing Agency is anticipated, the SPG shall consult, and cause the concerned Project Implementing Agency to consult, with ADB at least 6 months prior to the implementation of such change. The SPG shall ensure, and cause the concerned Project Implementing Agency to ensure, that such change be carried out in a lawful and transparent matter.
Change in Ownership and Operation. 6. In the event that Guangxi, GCD, or GCIG plan to make (a) any change in ownership of the Project facilities or GCIG, or (b) make any sale, transfer, or assignment of GCD’s or GCIG’s interest in the Project expressway, or (c) lease out, or contract out, or otherwise materially modify GCD’s or GCIG’s responsibilities for operation and maintenance of the Project expressway, the Borrower shall, at least six months prior to implementation of such plan, consult with ADB and obtain ADB's consent. The Borrower shall ensure that such transfer is made in a lawful and transparent manner.
Change in Ownership and Operation. 8. In the event that ARS proposes (a) any change in ownership of the Project Road or Project facilities; (b) any sale, transfer, or assignment of interest or control in the Project Road or Project facilities; or (c) a lease or other contract or other modification of its functions or authority over implementation and operation of the Project Road or Project facilities, ARS shall, at least 6 months prior to the implementation of such proposal, consult with ADB and obtain its consent. ARS shall ensure that any such proposal is carried out in a legal and transparent manner. Financial Management
Change in Ownership and Operation. 4. In the event that the Borrower, HPG or JECC plan (a) any change in ownership of the Project facilities, or (b) any sale, transfer, or assignment of HPG's or JECC's interest in the Project expressway, or (c) to lease out, or contract out, or otherwise modify JECC’s responsibilities for operation and maintenance of the Project expressway, the Borrower shall, at least six months prior to implementation of such plan, consult ADB and obtain ADB's consent. The Borrower shall ensure that such transfer be made in a transparent manner.
Change in Ownership and Operation. 2. In the event of (a) any change in ownership of the Project facilities or (b) any sale, transfer or assignment of share or interest that results in change of control in any PIA is anticipated, GIMAR shall, and shall cause the PIA to, consult with ADB at least 6 months prior to the implementation of such change. GIMAR shall, and shall cause the PIA to, further ensure that the controlling management of the concerned PIA concurs with (a) all Project related agreements executed between ADB and the Borrower or GIMAR; and (b) policies of ADB relevant to the Project. Financial Performance of PIAs
Change in Ownership and Operation. 5. In the event that (i) any change in ownership of the Project Road, (ii) any sale, transfer, or assignment of interest or control in the Project Road, or (iii) any lease or other contract or other modification of HPCD’s functions and authority over operation and maintenance of the Project Road, is anticipated, the Borrower shall cause HPG to consult with, and obtain consent of, ADB at least six months prior to the implementation of such a plan. The Borrower shall, and shall cause HPG and HPCD to, ensure that such change be carried out in a lawful and transparent matter.
Change in Ownership and Operation. 12. In the event that HPG or JECC plan (a) any change in ownership of the Project facilities, or (b) any sale, transfer, or assignment of HPG's or JECC's interest in the Project expressway, or (c) to lease out, or contract out, or otherwise modify JECC’s responsibilities for operation and maintenance of the Project expressway, HPG and JECC shall, at least six months prior to the implementation of such plan, consult ADB and obtain ADB's consent. HCD and JECC shall ensure that such transfer be made in a transparent manner. Axle Loads
