Expropriation Event Sample Clauses
An Expropriation Event clause defines the circumstances under which a party’s property or assets are seized, nationalized, or otherwise taken by a government authority. This clause typically outlines what constitutes expropriation, such as direct confiscation or indirect actions that deprive a party of the use or value of its assets, and may specify the procedures for notification and compensation. Its core function is to allocate risk and provide a clear framework for addressing government actions that could impact the parties’ rights or investments, thereby protecting parties from unforeseen losses due to governmental interference.
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Expropriation Event. An Expropriation Event shall occur with respect to either Loan Party or any Subsidiary of the Borrower, which individually or taken together with any other Expropriation Event, involves an aggregate value equivalent of $10,000,000 or more; or
Expropriation Event. If an Expropriation Event shall occur with respect to the Project, (a) promptly upon discovery or receipt of notice of any occurrence thereof, provide written notice thereof to the Lender, (b) diligently pursue all its rights to compensation against the relevant Governmental Instrumentality in respect of such Expropriation Event, and (c) hold any Expropriation Proceeds received in respect of such event (after deducting all reasonable expenses incurred by it in litigating, arbitrating, compromising, settling or consenting to the settlement of any claims) in trust for the benefit of the Lender separated from other funds of the Borrower, (d) promptly deposit all Expropriation Proceeds in (i) the RMB Revenue Account if denominated in RMB or (ii) in the Foreign Debt Repayment Account if denominated in Dollars. The Borrower consents to the participation of the Lender in any proceedings regarding an Expropriation Event, and the Borrower shall from time to time deliver to the Lender all documents and instruments requested by it to permit such participation. Nothing in this Section 5.14 shall be deemed to impair any rights which the Lender may have with respect to any such Expropriation Event.
Expropriation Event. There occurs any Expropriation Event;
Expropriation Event. Within three days after a Senior Officer of the Company becomes aware thereof, written notice of the commencement of, or of a material threat of the commencement of, any action that could reasonably be expected to lead to an Expropriation Event; such written notice shall set forth the nature of such pending or threatened action, suit or proceeding and such additional information with respect thereto as may be reasonably requested by the Collateral Agent or any other Pari Passu Creditor Party; and
Expropriation Event. If an Expropriation Event shall occur with respect to the Borrower’s or any Restricted Subsidiary’s Property, then the Borrower or such Restricted Subsidiary, as the case may be, shall: (i) promptly (but in any event within five Business Days) upon discovery or receipt of notice of any occurrence thereof provide written notice to the Agents, (ii) diligently pursue all of its rights to compensation against the relevant Governmental Authority in respect of such Expropriation Event, and (iii) not, without the written consent of the Required Lenders, compromise or settle any claim with or against such Governmental Authority. Nothing in this paragraph shall be deemed to impair any rights any Financing Party may have with respect to any such Expropriation Event.
Expropriation Event. An Expropriation Event shall occur with respect to any Loan Party or any Subsidiary, which individually or taken together with any other Expropriation Event, could reasonably be expected to result in a Material Adverse Effect; or
Expropriation Event. 49.5.1 Where the Council Default is an Expropriation Event then on the occurrence of an Expropriation Event, the Contractor shall notify the Lead Authority as soon as practicable by service of a notice (“Expropriation Notice”) of the occurrence of such Expropriation Event. The Expropriation Notice shall be addressed to the Chief Executive of the Lead Authority and shall include all details of the Expropriation Event known to the Contractor, including the likely effect on the obligations of the Contractor. The Expropriation Notice shall specifically refer to this clause 49.5 and enclose a copy of this clause.
49.5.2 As soon as practicable following such notification, the Parties shall consult with each other in good faith and use all reasonable endeavours to agree (such agreement not to be unreasonably withheld or delayed) appropriate terms to mitigate the effects of the Expropriation Event and facilitate the continued performance of this Contract.
49.5.3 Upon service of an Expropriation Notice the Contractor shall be relieved from any default under or breach of this Contract resulting from such Expropriation Event. This relief shall be retrospective and apply from the time that the Expropriation Event occurred.
49.5.4 If, within 30 days after receipt of an Expropriation Notice the Lead Authority shall not have served upon the Contractor a Councils’ Notice of Change to change the Works and/or Services in accordance with clause 24.1 with the effect of ensuring that the Contractor is no better and no worse off as a result of the Expropriation Event the Contractor shall serve upon the Chief Executive of the Lead Authority a further notice (“Further Expropriation Notice”) enclosing a copy of this clause and a copy of the Expropriation Notice and stating that in the event of a failure to serve a Councils’ Notice of Change with the aforementioned effect within 5 days of the receipt by the Lead Authority of the Further Expropriation Notice then this Contract may be terminated under this clause 49.
49.5.5 If no Councils’ Notice of Change is served under clause 49.4 either on or before the 30 days following the receipt of the Expropriation Notice or the said 5 days of the receipt of the Further Expropriation Notice or the Parties are unable to agree appropriate terms in accordance with Clause 49.5.2 within 30 Days of the issue of the Expropriation Notice then the Contractor may, provided that it has complied with this clause 49, terminate this Contract on Council De...
Expropriation Event. If an Expropriation Event shall occur with respect to the Facility, (a) promptly upon discovery or receipt of notice of any occurrence thereof, provide written notice thereof to the Lender, (b) diligently pursue all its rights and the rights of the Joint Venture Companies rights to compensation against the relevant Governmental Instrumentality in respect of such Expropriation Event, and (c) immediately deposit with the Trustee, to be held and applied pursuant to the Indenture, any Expropriation Proceeds received in respect of such event. The Borrower consents to the participation of the Lender in any proceedings regarding an Expropriation Event, and the Borrower shall from time to time deliver to the Lender all documents and instruments requested by it to permit such participation. Nothing in this Section shall be deemed to impair any rights which the Lender may have with respect to any such Expropriation Event.