GRANTOR VARIATIONS Sample Clauses

GRANTOR VARIATIONS. 19.1 The Grantor shall, subject to and in accordance with this clause, have the power by notice to the Developer from time to time during the Concession Period to propose variations to the Core Requirements ("Grantor Variations"). 19.2 As soon as practicable and in any event within 28 days after receipt of a notice under Clause 19.1, the Developer shall notify the Grantor's Representative (together with full supporting details): (a) whether, in the Developer's opinion, any adjustments to the provisions of this Agreement (including adjustments to the Developer's Concession Responsibilities but excluding any changes to the Compensation Amount) would be necessary as a result of the proposed Grantor Variation to enable the Developer to perform its obligations under this Agreement; (b) the Estimated Operating Cost and the Estimated Capital Cost of the proposed Grantor Variation; (c) subject to paragraph (d) below, the steps which the Developer proposes to take to implement the proposed Grantor Variation and the proposed timetable for taking those steps and, if appropriate, an estimate of the likely extension of time required under Clause 12.2 (Time for Completion); and (d) if the Developer objects to the proposed Grantor Variation on any one or more of the following grounds: (i) that implementation of the proposed Grantor Variation is impossible or not technically feasible, would be unsafe for the Developer's personnel or would be contrary to Good Engineering and Operating Practices; (ii) that implementation of the proposed Grantor Variation would infringe any Statutory Requirements or any Land Documents or any other title burdens, conditions or restrictions affecting the Toll Road; or (iii) that the Developer is unable to procure the necessary rights of access and/or use of such areas of land as it reasonably requires outside of the Sites to implement the proposed Grantor Variation, provided that the Developer shall not be entitled to object where the ground of objection in question can be adequately and reasonably mitigated or overcome by the exercise of Good Engineering and Operating Practices. 19.3 As soon as practicable after the Grantor's Representative receives the Developer's notice under Clause 19.2, the Parties shall discuss and agree the matters referred to in Clause 19.
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GRANTOR VARIATIONS. The Grantor shall, subject to and in accordance with this clause, have the power by notice to the Developer from time to time during the Concession Period to propose variations to the Core Requirements ("Grantor Variations").
GRANTOR VARIATIONS. 35.1.1 If the Grantor requires a variation in the Works and/or Services (a "Grantor Variation"), it must serve a notice on the Concessionaire (the "Grantor Notice of Variation"), detailing the requested variation. If the variation is requested within the Construction Period, a copy of the Grantor Notice of Variation must also be served by the Grantor on the Independent Engineer. 35.1.2 The Grantor shall not propose a variation in the Works and/or the Services which: (a) requires the Works and/or the Services to be performed in a way that infringes the Applicable Law or the Technical Specifications, or is inconsistent with Good Industry Practice; (a) would cause any Permit to be revoked (or a new Permit required to implement the relevant variation in the Works and/or the Services to be unobtainable); (b) would materially adversely affect the Concessionaire's ability to deliver the Works and/or the Services; (c) materially and adversely affects the health and safety of any Person; (d) would require the Concessionaire to implement the variation in the Works and/or the Services in an unreasonable period of time; and/or (e) would, if implemented, materially and adversely change the nature of the Project (including the risk profile).
GRANTOR VARIATIONS. 35.1.1 If the Grantor requires a variation in the Works and/or Services (a "Grantor Variation"), it must serve a notice on the Concessionaire, with a copy to the Independent Engineer if the Grantor Notice of Variation is served during the Construction Period, detailing the requested variation (the "Grantor Notice of Variation"). 35.1.2 The Grantor shall not propose a variation in the Works and/or the Services which:

Related to GRANTOR VARIATIONS

  • Amendments and Variations No amendment to or Variation of this Agreement shall be effective unless made in writing by duly authorized representatives of both Parties, if not provided otherwise herein. The Agreement can be amended in compliance with the provisions of Article 61 of the Public Procurement Law of the Republic of Latvia.

  • Amendments to Security Agreement (a) Section 1 of the Security Agreement is hereby amended by adding the following definitions in the appropriate alphabetical order to such Section:

  • Reaffirmations Except as expressly provided in this Amendment, all of the terms and conditions of the Loan Agreement and the other Loan Documents remain in full force and effect. Nothing contained in this Amendment shall in any way prejudice, impair or affect any rights or remedies of Agent or Lender under the Loan Agreement and the other Loan Documents. Except as specifically amended hereby, Borrower hereby ratifies, confirms, and reaffirms all covenants contained in the Loan Agreement and the other Loan Documents. The Loan Agreement, together with this Amendment, shall be read and construed as a single agreement. All references in the Loan Documents to the Loan Agreement or any other Loan Document shall hereafter refer to the Loan Agreement or any other Loan Document as amended hereby.

  • F3 Variation The Authority may from time to time during the Contract Period, by written notice to the Contractor, request a variation of the Contract provided that such variation does not amount to a material change to it. Such a change is hereinafter called a “Variation”.

  • Amendments to Security Documents Except to the extent otherwise expressly set forth in the Guarantee and Security Agreement or the other Loan Documents, no Security Document nor any provision thereof may be waived, amended or modified, nor may the Liens granted under the Guarantee and Security Agreement be spread to secure any additional obligations (excluding (x) any increase in the Loans and Letters of Credit hereunder pursuant to a Commitment Increase under Section 2.08(e), (y) any increase in any Other Secured Indebtedness or Shorter Term Secured Indebtedness permitted hereunder and (z) the spreading of such Liens to any Designated Indebtedness or Hedging Agreement Obligations (as defined in the Guarantee and Security Agreement) as provided for in the Guarantee and Security Agreement), except pursuant to an agreement or agreements in writing entered into by the Borrower, and by the Collateral Agent with the consent of the Required Lenders; provided that, (i) except as otherwise expressly permitted by the Loan Documents, without the written consent of each Lender and each Issuing Bank, no such agreement shall release all or substantially all of the Obligors from their respective obligations under the Security Documents and (ii) except as otherwise expressly permitted by the Loan Documents, without the written consent of each Lender and each Issuing Bank, no such agreement shall release all or substantially all of the collateral security or otherwise terminate all or substantially all of the Liens under the Security Documents, alter the relative priorities of the obligations entitled to the Liens created under the Security Documents (except in connection with securing additional obligations equally and ratably with the Loans and other obligations hereunder) with respect to all or substantially all of the collateral security provided thereby, except that no such consent shall be required, and the Administrative Agent is hereby authorized (and so agrees with the Borrower) to direct the Collateral Agent under the Guarantee and Security Agreement to, and in addition to the rights of such parties under the Guarantee and Security Agreement, the Administrative Agent and the Collateral Agent under the Guarantee and Security Agreement may, (1) release any Lien covering property (and to release any such guarantor) that is the subject of either a disposition of property not prohibited hereunder (including, without limitation, any property subject to a participation or repurchase transaction) or a disposition to which the Required Lenders or the required number or percentage of Lenders have consented (and such Lien shall be released automatically (A) to the extent provided in Section 10.03 of the Guarantee and Security Agreement and (B) to the extent permitted hereunder in connection with any property becoming subject to a participation or repurchase transaction), and (2) release from the Guarantee and Security Agreement any “Subsidiary Guarantor” (and any property of such Subsidiary Guarantor) that is designated as a “Designated Subsidiary” or becomes an Excluded Asset or an Immaterial Subsidiary in accordance with this Agreement or is otherwise no longer required to be a “Subsidiary Guarantor” (including, without limitation, because it ceases to be consolidated on the Borrower’s financial statements), so long as immediately after giving effect to any such release under this clause (2) and any Concurrent Transactions, (A) the Covered Debt Amount does not exceed the Borrowing Base and the Borrower delivers a certificate of a Financial Officer to such effect to the Administrative Agent, (B) either (I) the amount of any excess availability under the Borrowing Base immediately prior to such release is not diminished as a result of such release or (II) the Adjusted Gross Borrowing Base immediately after giving effect to such release is at least 110% of the Covered Debt Amount and (C) no Event of Default has occurred and is continuing.

  • WAIVER AND VARIATION No waiver or variation of this Parent Agreement shall be of any force unless such waiver or variation is agreed upon in writing and signed by an authorised representative of each of the Parties.

  • Amendment and variation 16.1 No amendment or variation to this Contract shall be effective unless it is in writing and signed by or on behalf of each of the parties hereto. The Contractor shall comply with any formal procedures for amending or varying contracts that the Department may have in place from time to time.

  • No Financing Statements, Security Agreements No financing statement or security agreement describing all or any portion of the Collateral which has not lapsed or been terminated naming such Grantor as debtor has been filed or is of record in any jurisdiction except (a) for financing statements or security agreements naming the Collateral Agent on behalf of the Secured Parties as the secured party, and (b) as permitted by Section 4.1(e).

  • Security Agreements On the Closing Date, (x) Holdings and the Borrower shall have duly authorized, executed and delivered the Security Agreement substantially in the form of Exhibit E (as amended, modified, restated and/or supplemented from time to time, the “Security Agreement”) covering all of Holdings’ and the Borrower’s present and future Collateral referred to therein (including, as applicable, by reference to the Perfection Certificate) (the “Security Agreement Collateral”) and (y) Borrower and Holdings shall have duly authorized, executed and delivered the Perfection Certificate and shall have delivered the following: (i) proper financing statements (Form UCC-1 or the equivalent) authorized for filing under the UCC or other appropriate filing offices of each jurisdiction and, in the case of the Borrower, filings with the United States Patent and Trademark Office and United States Copyright Office, in each case, as may be reasonably necessary or desirable to perfect the security interests purported to be created by the Security Agreement and as set forth on Schedule 6 to the Perfection Certificate; (ii) all stock certificates or Instruments (as defined in the Security Agreement), if any, representing or evidencing the Security Agreement Collateral (to the extent required by the Security Agreement) accompanied by instruments of transfer and stock powers undated and endorsed in blank; and (iii) certified copies, each of a recent date, of (x) requests for information or copies (Form UCC-1), or equivalent reports as of a recent date, listing all effective financing statements that name Holdings or the Borrower as debtor and that are filed in the jurisdictions referred to in clause (i) above, together with copies of such other financing statements that name Holdings or the Borrower as debtor (none of which shall cover any of the Collateral except to the extent evidencing Permitted Liens or to the extent such financing statements will be terminated as contemplated by Section 6.05), (y) United States Patent and Trademark Office and United States Copyright Office searches reasonably requested by the Administrative Agent and (z) reports as of a recent date listing all effective tax and judgment liens with respect to Holdings or the Borrower in each jurisdiction as the Administrative Agent may reasonably require.

  • Amendments to Schedules The Schedules to this Agreement form an integral part of this Agreement. The Schedules may be amended or replaced from time to time by the parties who will evidence their approval thereof by initialing a new Schedule dated as of the effective date of such amendment or replacements.

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