CONSEQUENCES OF A FINANCIAL DISTRESS EVENT. 4.1 A Financial Distress Event shall occur if: 4.1.1 the Supplier's or the Framework Guarantor’s credit rating drops below the relevant Credit Rating Threshold; or 4.1.2 there is a material degradation in any financial ratios requested by the Authority pursuant to paragraph 3.3; or 4.1.3 the Supplier or the Framework Guarantor issues a profits warning to a stock exchange or makes any other public announcement about a material deterioration in its financial position or prospects; or 4.1.4 there is a public investigation into improper financial accounting and/or reporting, suspected fraud or any other impropriety of the Supplier or the Framework Guarantor; or 4.1.5 the Supplier or the Framework Guarantor commits a material breach of covenants to its lenders; or 4.1.6 any of the following occurs: 4.1.6.1 a Sub-Contractor notifies the Authority that the Supplier has not satisfied any material sums properly due under a specified invoice and not subject to a genuine dispute; 4.1.6.2 the commencement of any litigation against the Supplier or the Framework Guarantor with respect to financial indebtedness or financial obligations under a Good and/or Service contract; 4.1.6.3 the non payment by the Supplier or the Framework Guarantor of any financial indebtedness; 4.1.6.4 any financial indebtedness of the Supplier or the Framework Guarantor becomes due as a result of an event of default; 4.1.6.5 the cancellation or suspension of any financial indebtedness in respect of the Supplier or the Framework Guarantor, which the Authority reasonably believes could directly impact on the continued performance and delivery of the Services in accordance with this Framework Agreement or any Call Off Agreements. 4.2 The Supplier shall have the obligations and the Authority shall have the rights and remedies set out in paragraphs 4.3to 4.8(inclusive) immediately upon notification of a Financial Distress Event (or if the Authority becomes aware of a Financial Distress Event without notification, upon it bringing the event to the attention of the Supplier) in addition to any rights the Authority may have under Clause 42 (Guarantee). 4.3 In the event of a late or non-payment of a Sub-contractor pursuant to paragraph 4.1.6.1, the Authority shall not exercise any of its rights or remedies under paragraph 3.4 without first giving the Supplier ten (10) Working Days to: 4.3.1 rectify such late or non-payment; or 4.3.2 demonstrate to the Authority's reasonable satisfaction that there is a valid reason for late or non-payment. 4.4 At the request of the Authority, the Supplier shall and shall procure that the Framework Guarantor shall: 4.4.1 meet with the Authority as soon as reasonably practicable (and in any event within five (5) Working Days (or such other period as the Authority may permit and notify to the Supplier in writing) of the initial notification (or awareness) of the Financial Distress Event or such other period as the Authority may permit and notify to the Supplier in writing) to review the effect of the Financial Distress Event on the continued performance and delivery of the Services in accordance with this Framework Agreement and/or any Call Off Agreements; and 4.4.2 where the Authority reasonably believes (taking into account the discussions and any representations made under paragraph 4.4.1above) that the Financial Distress Event could impact on the continued performance and delivery of the Services in accordance with this Framework Agreement and/or any Call Off Agreement, submit to the Authority for its Approval, a draft Financial Distress Service Continuity Plan as soon as possible, and, in any event, not later than ten (10) Working Days (or such other period as the Authority may permit and notify to the Supplier in writing) of the initial notification (or awareness) of the Financial Distress Event; and 4.4.3 provide such financial information relating to the Supplier or the Framework Guarantor as the Authority may reasonably require. 4.5 The Authority shall not withhold its Approval of a draft Financial Distress Service Continuity Plan unreasonably. If the Authority does not Approve the draft Financial Distress Service Continuity Plan it shall inform the Supplier of its reasons and the Supplier shall take those reasons into account in the preparation of a further draft Financial Distress Service Continuity Plan, which shall be resubmitted to the Authority within five (5) Working Days (or such other period as the Authority may permit and notify to the Supplier in writing) of the rejection of the first draft. This process shall be repeated until the Financial Distress Service Continuity Plan is Approved by the Authority or referred to the commercial negotiation process under paragraph 4.6 below. 4.6 Without prejudice to any right of termination, if the Authority considers that the draft Financial Distress Service Continuity Plan is insufficiently detailed to be properly evaluated, will take too long to complete or will not remedy the Financial Distress Event complained of, then it may either agree in writing a further time period for the development and agreement of the Financial Distress Service Continuity Plan or escalate any issues with the draft Financial Distress Service Continuity Plan in accordance with paragraph 5 of Framework Schedule 13 (Framework Management). 4.7 Following Approval of the Financial Distress Service Continuity Plan by the Authority, the Supplier shall: 4.7.1 on a regular basis (which shall not be less than monthly), review the Financial Distress Service Continuity Plan and assess whether it remains adequate and up to date to ensure the continued performance and delivery of the Services in accordance with this Agreement and any Call Off Agreements; 4.7.2 where the Financial Distress Service Continuity Plan is not adequate or up to date in accordance with paragraph 4.7.1 above, submit an updated Financial Distress Service Continuity Plan to the Authority for its Approval and the provisions of paragraphs 4.5 and 4.6 above shall apply to the review and approval process for the updated Financial Distress Service Continuity Plan; and 4.7.3 comply with the Financial Distress Service Continuity Plan (including any updated Financial Distress Service Continuity Plan). 4.8 Where the Supplier reasonably believes that the relevant Financial Distress Event under paragraph 4.1 above (or the circumstance or matter which has caused or otherwise led to it) no longer exists, it shall notify the Authority in writing and the Parties may agree in writing that the Supplier shall be relieved of its obligations under paragraph 4.7 above.
Appears in 2 contracts
Samples: Wider Public Sector Travel Management Services Framework Agreement, Wider Public Sector Travel Management Services Framework Agreement
CONSEQUENCES OF A FINANCIAL DISTRESS EVENT. 4.1 A Financial Distress Event shall occur if3.1 In the event of:
4.1.1 3.1.1 the Supplier's or the Framework Guarantor’s credit rating drops below the relevant Credit Rating Threshold; or
4.1.2 there is a material degradation in any financial ratios requested by the Authority pursuant to paragraph 3.3; or
4.1.3 of the Supplier or the Framework Guarantor issues dropping below the applicable Credit Rating Threshold;
3.1.2 the Supplier or the Framework Guarantor issuing a profits warning to a stock exchange or makes making any other public announcement about a material deterioration in its financial position or prospects; or;
4.1.4 3.1.3 there is being a public investigation into improper financial accounting and/or and reporting, suspected fraud or any other impropriety of the Supplier or the Framework Guarantor; or;
4.1.5 3.1.4 the Supplier or the Framework Guarantor commits committing a material breach of covenants covenant to its lenders; or;
4.1.6 any of the following occurs:
4.1.6.1 3.1.5 a Key Sub-Contractor notifies notifying the Authority that the Supplier has not satisfied any material sums properly due under a specified invoice and not subject to a genuine dispute;; or
4.1.6.2 3.1.6 any of the following:
(a) commencement of any litigation against the Supplier or the Framework Guarantor with respect to financial indebtedness or financial obligations under a Good and/or Service contractCall Off Agreement;
4.1.6.3 the non (b) non-payment by the Supplier or the Framework Guarantor of any financial indebtednessindebtedness related to this Framework;
4.1.6.4 (c) any financial indebtedness of the Supplier or the Framework Guarantor becomes becoming due as a result of an event of default;; or
4.1.6.5 (d) the cancellation or suspension of any financial indebtedness in respect of the Supplier or the Framework Guarantor, in each case which the Authority reasonably believes (or would be likely reasonably to believe) could directly impact on the continued performance and delivery of the Services in accordance with this Framework Agreement Agreement; then, immediately upon notification of the Financial Distress Event (or any Call Off Agreements.
4.2 The if the Authority becomes aware of the Financial Distress Event without notification and brings the event to the attention of the Supplier), the Supplier shall have the obligations and the Authority shall have the rights and remedies as set out in paragraphs 4.3to 4.8(inclusive) immediately upon notification of a Financial Distress Event (or if the Authority becomes aware of a Financial Distress Event without notification, upon it bringing the event 3.3 to the attention of the Supplier) in addition to any rights the Authority may have under Clause 42 (Guarantee)3.6.
4.3 In the event of a late or non-payment of a Sub-contractor pursuant to paragraph 4.1.6.1, the Authority shall not exercise any of its rights or remedies under paragraph 3.4 without first giving the Supplier ten (10) Working Days to:
4.3.1 rectify such late or non-payment; or
4.3.2 demonstrate to the Authority's reasonable satisfaction that there is a valid reason for late or non-payment.
4.4 At the request of the Authority, the Supplier shall and shall procure that the Framework Guarantor shall:
4.4.1 meet with the Authority as soon as reasonably practicable (and in any event within five (5) Working Days (or such other period as the Authority may permit and notify to the Supplier in writing) of the initial notification (or awareness) of the Financial Distress Event or such other period as the Authority may permit and notify to the Supplier in writing) to review the effect of the Financial Distress Event on the continued performance and delivery of the Services in accordance with this Framework Agreement and/or any Call Off Agreements; and
4.4.2 where the Authority reasonably believes (taking into account the discussions and any representations made under paragraph 4.4.1above) that the Financial Distress Event could impact on the continued performance and delivery of the Services in accordance with this Framework Agreement and/or any Call Off Agreement, submit to the Authority for its Approval, a draft Financial Distress Service Continuity Plan as soon as possible, and, in any event, not later than ten (10) Working Days (or such other period as the Authority may permit and notify to the Supplier in writing) of the initial notification (or awareness) of the Financial Distress Event; and
4.4.3 provide such financial information relating to the Supplier or the Framework Guarantor as the Authority may reasonably require.
4.5 The Authority shall not withhold its Approval of a draft Financial Distress Service Continuity Plan unreasonably. If the Authority does not Approve the draft Financial Distress Service Continuity Plan it shall inform the Supplier of its reasons and the Supplier shall take those reasons into account in the preparation of a further draft Financial Distress Service Continuity Plan, which shall be resubmitted to the Authority within five (5) Working Days (or such other period as the Authority may permit and notify to the Supplier in writing) of the rejection of the first draft. This process shall be repeated until the Financial Distress Service Continuity Plan is Approved by the Authority or referred to the commercial negotiation process under paragraph 4.6 below.
4.6 Without prejudice to any right of termination, if the Authority considers that the draft Financial Distress Service Continuity Plan is insufficiently detailed to be properly evaluated, will take too long to complete or will not remedy the Financial Distress Event complained of, then it may either agree in writing a further time period for the development and agreement of the Financial Distress Service Continuity Plan or escalate any issues with the draft Financial Distress Service Continuity Plan in accordance with paragraph 5 of Framework Schedule 13 (Framework Management).
4.7 Following Approval of the Financial Distress Service Continuity Plan by the Authority, the Supplier shall:
4.7.1 on a regular basis (which shall not be less than monthly), review the Financial Distress Service Continuity Plan and assess whether it remains adequate and up to date to ensure the continued performance and delivery of the Services in accordance with this Agreement and any Call Off Agreements;
4.7.2 where the Financial Distress Service Continuity Plan is not adequate or up to date in accordance with paragraph 4.7.1 above, submit an updated Financial Distress Service Continuity Plan to the Authority for its Approval and the provisions of paragraphs 4.5 and 4.6 above shall apply to the review and approval process for the updated Financial Distress Service Continuity Plan; and
4.7.3 comply with the Financial Distress Service Continuity Plan (including any updated Financial Distress Service Continuity Plan).
4.8 Where the Supplier reasonably believes that the relevant Financial Distress Event under paragraph 4.1 above (or the circumstance or matter which has caused or otherwise led to it) no longer exists, it shall notify the Authority in writing and the Parties may agree in writing that the Supplier shall be relieved of its obligations under paragraph 4.7 above.
Appears in 1 contract
Samples: Framework Agreement
CONSEQUENCES OF A FINANCIAL DISTRESS EVENT. 4.1 A Financial Distress Event shall occur if3.1 In the event of:
4.1.1 3.1.1 the credit rating of the Supplier's or , the Framework Guarantor’s credit rating drops Guarantor or any Key Sub-Contractor dropping below the relevant applicable Credit Rating Threshold; or;
4.1.2 there is a material degradation in any financial ratios requested by 3.1.2 the Authority pursuant to paragraph 3.3; or
4.1.3 the Supplier or Supplier, the Framework Guarantor issues or any Key Sub-Contractor issuing a profits warning to a stock exchange or makes making any other public announcement about a material deterioration in its financial position or prospects; or;
4.1.4 3.1.3 there is being a public investigation into improper financial accounting and/or and reporting, suspected fraud or any other impropriety of the Supplier or the Framework Guarantor; or
4.1.5 the Supplier or Supplier, the Framework Guarantor commits or any Key Sub-Contractor;
3.1.4 the Supplier, the Framework Guarantor or any Key Sub-Contractor committing a material breach of covenants covenant to its lenders; or;
4.1.6 any of the following occurs:
4.1.6.1 3.1.5 a Key Sub-Contractor notifies notifying the Authority that the Supplier has not satisfied any material sums properly due under a specified invoice and not subject to a genuine dispute;; or
4.1.6.2 3.1.6 any of the following:
3.1.6.1 commencement of any litigation against the Supplier or Supplier, the Framework Guarantor or any Key Sub-Contractor with respect to financial indebtedness or financial obligations under a Good and/or Service service contract;
4.1.6.3 the non ; non-payment by the Supplier or Supplier, the Framework Guarantor Guarantor/ or any Key Sub-Contractor of any financial indebtedness;
4.1.6.4 ; any financial indebtedness of the Supplier or Supplier, the Framework Guarantor becomes or any Key Sub-Contractor becoming due as a result of an event of default;
4.1.6.5 ; or the cancellation or suspension of any financial indebtedness in respect of the Supplier or Supplier, the Framework GuarantorGuarantor or any Key Sub-Contractor, in each case which the Authority reasonably believes (or would be likely reasonably to believe) could directly impact on the continued performance and delivery of the Services in accordance with this Framework Agreement Agreement; then, immediately upon notification of the Financial Distress Event (or any Call Off Agreements.
4.2 The if the Authority becomes aware of the Financial Distress Event without notification and brings the event to the attention of the Supplier), the Supplier shall have the obligations and the Authority shall have the rights and remedies as set out in paragraphs 4.3to 4.8(inclusive) immediately upon notification of a Financial Distress Event (or if the Authority becomes aware of a Financial Distress Event without notification, upon it bringing the event 3.2 to the attention of the Supplier) in addition to any rights the Authority may have under Clause 42 (Guarantee).
4.3 3.5. In the event of a late or non-payment of a Key Sub-contractor Contractor pursuant to paragraph 4.1.6.1, the Authority shall not exercise any of its rights or remedies under paragraph 3.4 3.2 without first giving the Supplier ten (10) Working Days to:
4.3.1 : rectify such late or non-payment; or
4.3.2 or demonstrate to the Authority's reasonable satisfaction that there is a valid reason for late or non-payment.
4.4 At the request of the Authority, the . The Supplier shall (and shall procure that the Framework Guarantor and/or any relevant Key Sub-Contractor shall:
4.4.1 ): at the request of the Authority meet with the Authority as soon as reasonably practicable (and in any event within five three (53) Working Days (or such other period as the Authority may permit and notify to the Supplier in writing) of the initial notification (or awareness) of the Financial Distress Event or such other period as the Authority may permit and notify to the Supplier in writing) to review the effect of the Financial Distress Event on the continued performance and delivery of the Services in accordance with this Framework Agreement and/or any Call Off AgreementsAgreement; and
4.4.2 and where the Authority reasonably believes (taking into account the discussions and any representations made under paragraph 4.4.1above3.2.1) that the Financial Distress Event could impact on the continued performance and delivery of the Services in accordance with this Framework Agreement and/or any Call Off Agreement, : submit to the Authority for its Approval, a draft Financial Distress Service Continuity Plan as soon as possible, and, reasonably practicable (and in any event, not later than within ten (10) Working Days of the initial notification (or awareness) of the Financial Distress Event or such other period as the Authority may permit and notify to the Supplier in writing) of the initial notification (or awareness) of the Financial Distress Event); and
4.4.3 and provide such financial information relating to the Supplier or the Framework Guarantor as the Authority may reasonably require.
4.5 . The Authority shall not withhold its Approval of a draft Financial Distress Service Continuity Plan unreasonably. If the Authority does not Approve approve the draft Financial Distress Service Continuity Plan Plan, it shall inform the Supplier of its reasons and the Supplier shall take those reasons into account in the preparation of a further draft Financial Distress Service Continuity Plan, which shall be resubmitted to the Authority within five (5) Working Days (or such other period as the Authority may permit and notify to the Supplier in writing) of the rejection of the first draftor subsequent (as the case may be) drafts. This process shall be repeated until the Financial Distress Service Continuity Plan is Approved by the Authority or referred to the commercial negotiation process under Dispute Resolution Procedure pursuant to paragraph 4.6 below.
4.6 Without prejudice to any right of termination, if 3.4. If the Authority considers that the draft Financial Distress Service Continuity Plan is insufficiently detailed to be properly evaluated, will take too long to complete or will not remedy the relevant Financial Distress Event complained ofEvent, then it may either agree in writing a further time period for the development and agreement of the Financial Distress Service Continuity Plan or escalate any issues with the draft Financial Distress Service Continuity Plan in accordance with paragraph 5 of Framework Schedule 13 (Framework Management).
4.7 using the Dispute Resolution Procedure. Following Approval of the Financial Distress Service Continuity Plan by the Authority, the Supplier shall:
4.7.1 : on a regular basis (which shall not be less than monthly), review the Financial Distress Service Continuity Plan and assess whether it remains adequate and up to date to ensure the continued performance and delivery of the Services in accordance with this Agreement and any Call Off Agreements;
4.7.2 Framework Agreement; where the Financial Distress Service Continuity Plan is not adequate or up to date in accordance with paragraph 4.7.1 above3.5.1, submit an updated Financial Distress Service Continuity Plan to the Authority for its Approval Approval, and the provisions of paragraphs 4.5 3.4 and 4.6 above 3.5 shall apply to the review and approval Approval process for the updated Financial Distress Service Continuity Plan; and
4.7.3 and comply with the Financial Distress Service Continuity Plan (including any updated Financial Distress Service Continuity Plan).
4.8 . Where the Supplier reasonably believes that the relevant Financial Distress Event under paragraph 4.1 above (or the circumstance or matter which has caused or otherwise led to it) no longer exists, it shall notify the Authority in writing and subject to the Parties may agree in writing that agreement of the Parties, the Supplier shall may be relieved of its obligations under paragraph 4.7 above3.5.
Appears in 1 contract
CONSEQUENCES OF A FINANCIAL DISTRESS EVENT. 4.1 A Financial Distress Event shall occur if:
4.1.1 In the Supplier's or event of: the Framework Guarantor’s credit rating drops below the relevant Credit Rating Threshold; or
4.1.2 there is a material degradation in any financial ratios requested by the Authority pursuant to paragraph 3.3; or
4.1.3 of the Supplier or the Framework Guarantor issues dropping below the applicable Credit Rating Threshold; the Supplier or the Framework Guarantor issuing a profits warning to a stock exchange or makes making any other public announcement about a material deterioration in its financial position or prospects; or
4.1.4 there is being a public investigation into improper financial accounting and/or and reporting, suspected fraud or any other impropriety of the Supplier or the Framework Guarantor; or
4.1.5 the Supplier or the Framework Guarantor commits committing a material breach of covenants covenant to its lenders; or
4.1.6 any of the following occurs:
4.1.6.1 a Key Sub-Contractor notifies notifying the Authority that the Supplier has not satisfied any material sums properly due under a specified invoice and not subject to a genuine dispute;
4.1.6.2 ; or any of the following: commencement of any litigation against the Supplier or the Framework Guarantor with respect to financial indebtedness or financial obligations under a Good and/or Service service contract;
4.1.6.3 the non ; non-payment by the Supplier or the Framework Guarantor of any financial indebtedness;
4.1.6.4 ; any financial indebtedness of the Supplier or the Framework Guarantor becomes becoming due as a result of an event of default;
4.1.6.5 ; or the cancellation or suspension of any financial indebtedness in respect of the Supplier or the Framework Guarantor, in each case which the Authority reasonably believes (or would be likely reasonably to believe) could directly impact on the continued performance and delivery of the Goods and/or Services in accordance with this Framework Agreement Agreement; then, immediately upon notification of the Financial Distress Event (or any Call Off Agreements.
4.2 The if the Authority becomes aware of the Financial Distress Event without notification and brings the event to the attention of the Supplier), the Supplier shall have the obligations and the Authority shall have the rights and remedies as set out in paragraphs 4.3to 4.8(inclusive) immediately upon notification of a Financial Distress Event (or if the Authority becomes aware of a Financial Distress Event without notification, upon it bringing the event 127.3 to the attention of the Supplier) in addition to any rights the Authority may have under Clause 42 (Guarantee).
4.3 127.6. In the event of a late or non-payment of a Key Sub-contractor Contractor pursuant to paragraph 4.1.6.1127.1.5, the Authority shall not exercise any of its rights or remedies under paragraph 3.4 127.3 without first giving the Supplier ten (10) Working Days to:
4.3.1 : rectify such late or non-payment; or
4.3.2 or demonstrate to the Authority's reasonable satisfaction that there is a valid reason for late or non-payment.
4.4 At the request of the Authority, the . The Supplier shall (and shall procure that the Framework Guarantor and/or any relevant Key Sub-Contractor shall:
4.4.1 ): at the request of the Authority meet with the Authority as soon as reasonably practicable (and in any event within five three (53) Working Days (or such other period as the Authority may permit and notify to the Supplier in writing) of the initial notification (or awareness) of the Financial Distress Event or such other period as the Authority may permit and notify to the Supplier in writing) to review the effect of the Financial Distress Event on the continued performance and delivery of the Goods and/or Services in accordance with this Framework Agreement and/or any Call Off AgreementsAgreement; and
4.4.2 and where the Authority reasonably believes (taking into account the discussions and any representations made under paragraph 4.4.1above127.3.1) that the Financial Distress Event could impact on the continued performance and delivery of the Goods and/or Services in accordance with this Framework Agreement and/or any Call Off Agreement, : submit to the Authority for its Approval, a draft Financial Distress Service Continuity Plan as soon as possible, and, reasonably practicable (and in any event, not later than within ten (10) Working Days of the initial notification (or awareness) of the Financial Distress Event or such other period as the Authority may permit and notify to the Supplier in writing) of the initial notification (or awareness) of the Financial Distress Event); and
4.4.3 and provide such financial information relating to the Supplier or the Framework Guarantor as the Authority may reasonably require.
4.5 . The Authority shall not withhold its Approval of a draft Financial Distress Service Continuity Plan unreasonably. If the Authority does not Approve approve the draft Financial Distress Service Continuity Plan Plan, it shall inform the Supplier of its reasons and the Supplier shall take those reasons into account in the preparation of a further draft Financial Distress Service Continuity Plan, which shall be resubmitted to the Authority within five (5) Working Days (or such other period as the Authority may permit and notify to the Supplier in writing) of the rejection of the first draftor subsequent (as the case may be) drafts. This process shall be repeated until the Financial Distress Service Continuity Plan is Approved by the Authority or referred to the commercial negotiation process under Dispute Resolution Procedure pursuant to paragraph 4.6 below.
4.6 Without prejudice to any right of termination, if 127.5. If the Authority considers that the draft Financial Distress Service Continuity Plan is insufficiently detailed to be properly evaluated, will take too long to complete or will not remedy the relevant Financial Distress Event complained ofEvent, then it may either agree in writing a further time period for the development and agreement of the Financial Distress Service Continuity Plan or escalate any issues with the draft Financial Distress Service Continuity Plan in accordance with paragraph 5 of Framework Schedule 13 (Framework Management).
4.7 using the Dispute Resolution Procedure. Following Approval of the Financial Distress Service Continuity Plan by the Authority, the Supplier shall:
4.7.1 : on a regular basis (which shall not be less than monthly), review the Financial Distress Service Continuity Plan and assess whether it remains adequate and up to date to ensure the continued performance and delivery of the Goods and/or Services in accordance with this Agreement and any Call Off Agreements;
4.7.2 Framework Agreement; where the Financial Distress Service Continuity Plan is not adequate or up to date in accordance with paragraph 4.7.1 above127.6.1, submit an updated Financial Distress Service Continuity Plan to the Authority for its Approval Approval, and the provisions of paragraphs 4.5 127.5 and 4.6 above 127.6 shall apply to the review and approval Approval process for the updated Financial Distress Service Continuity Plan; and
4.7.3 and comply with the Financial Distress Service Continuity Plan (including any updated Financial Distress Service Continuity Plan).
4.8 . Where the Supplier reasonably believes that the relevant Financial Distress Event under paragraph 4.1 above 127.1 (or the circumstance or matter which has caused or otherwise led to it) no longer exists, it shall notify the Authority in writing and subject to the Parties may agree in writing that agreement of the Parties, the Supplier shall may be relieved of its obligations under paragraph 4.7 above127.6.
Appears in 1 contract
Samples: Framework Agreement
