Consent to Novation. If the Proposed Novation Notice specifies the Authority as the Proposed Substitute, the Material Project Contractor's consent to the novation will be deemed to have been given. If the Proposed Substitute is not the Authority, a novation in accordance with a Proposed Novation Notice will only be effective if the Material Project Contractor consents to that novation in writing in accordance with Section 4.3 and the Authority will (as soon as practicable) supply the Material Project Contractor with the following information: (a) the name and registered address of the Proposed Substitute; (b) the names of the shareholders in the Proposed Substitute and the share capital owned by each of them; (c) the names of the directors and the secretary of the Proposed Substitute; (d) details of the means by which it is proposed to finance the Proposed Substitute (including the extent to which such finance is committed and any conditions precedent as to its availability for drawing); and (e) details of the technical competence of the Proposed Substitute and the resources (including contractual arrangements) which are to be available to the Proposed Substitute to enable it to perform its obligations under the Material Contract.
Appears in 4 contracts
Samples: Material Project Contractor Collateral Agreement, Material Project Contractor Collateral Agreement, Material Project Contractor Collateral Agreement
