Common use of Economic Reinstatement Test During Construction Clause in Contracts

Economic Reinstatement Test During Construction. If prior to the Service Commencement Date the Facility suffers damage or destruction that is likely to cost more than $5,000,000, (Index Linked), to repair, replace and restore, and on the forecast Service Commencement Date following such reinstatement there would be a breach of the Senior Loan Life Cover Ratio test contained in Section 12.1(t) of the Note Indenture, Project Co may, by notice to the Province, terminate this Agreement in which case the Province will pay compensation to Project Co in accordance with Section 4 [No-Fault Termination] of Schedule 9 [Compensation on Termination].

Economic Reinstatement Test During Construction. If prior to the Service Commencement Date the Facility suffers damage or destruction that is likely to cost more than $5,000,000, 5 million (Index Linked), ) to repair, replace and restore, and on the forecast Service Commencement Date following such reinstatement there would be a breach of the Senior Loan Life Cover Ratio test contained in Section 12.1(t) of the Note Indenture, Project Co may, by notice to the ProvinceAuthority, terminate this Agreement in which case the Province Authority will pay compensation to Project Co in accordance with Section 4 [No-Fault Termination] of Schedule 9 [Compensation on Termination].

Economic Reinstatement Test During Construction. If prior to the Service Commencement Date the Facility suffers damage or destruction that is likely to cost more than $5,000,0005 million, (Index Linked), to repair, replace and restore, and on the forecast Service Commencement Date following such reinstatement there would be a breach of the Senior Loan Life Cover Ratio test contained in Section 12.1(t8.39(a) of the Note IndentureSenior Financing Agreements, Project Co may, by notice to the ProvinceAuthority, terminate this Agreement in which case the Province Authority will pay compensation to Project Co in accordance with Section 4 5 [No-Fault Termination] of Schedule 9 [Compensation on Termination].

Economic Reinstatement Test During Construction. If prior to the Service Commencement Date the Facility suffers damage or destruction that is likely to cost more than $5,000,0005 million, (Index Linked), to repair, replace and restore, and on the forecast Service Commencement Date following such reinstatement there would be a breach of the Senior Loan Life Cover Ratio test contained in Section 12.1(t15.1(28) of the Note IndentureSenior Financing Agreements, Project Co may, by notice to the ProvinceAuthority, terminate this Agreement in which case the Province Authority will pay compensation to Project Co in accordance with Section 4 [No-Fault Termination] 5 of Schedule 9 [Compensation on Termination].