IEC. Mexico and IEC-FSC, by their execution hereof, consent hereto and hereby reaffirm the execution and delivery of their respective Guaranties dated December 28, 1999 and each agrees that its respective guaranty shall continue in full force and effect and shall be applicable to all indebtedness, obligations and liabilities of Debtor to Agent and the Lenders, including without limitation, all indebtedness evidenced by or arising under the Agreement, as modified by this Amendment.
IEC. IEC is a corporation duly organized and existing under the laws --- of the State of California and, as of the date of this Agreement, has an authorized capital of forty-two million (42,000,000) shares, forty million (40,000,000) of which are designated "Common Stock," no par value, 12,860,539 of which are issued and outstanding, and two million (2,000,000) of which are designated "Preferred Stock," no par value, all of which are designated Series A Preferred Stock, 1,206,000 of which are issued and outstanding as of the date hereof. IEC was incorporated under the laws of the State of California on September 9, 1996.
IEC. The International Electrotechnical Commission (IEC) is the world’s leading organization which develops international standards for electrical and related technologies. The IEC standards fulfil the needs of all stakeholders of every country which takes part in the IEC activities. IEC also works in cooperation with other standardization bodies like ISO. IEC includes several WGs which are in charge of implementing security measures in Smart Grid environments: The IEC TC 8 WG AHG4 activities include Smart Grid requirements for electrical system reliability, communication security regarding metering, etc. The IEC TC 57 WG 15 is in charge of developing standards for security of the communication protocols like the IEC 60870-5 series, the IEC 61850 series and the IEC 61968 series, among others. The ISO/IEC JTC1/SC27 is devoted to the development of standards for the protection of information and ICT (methods, guidelines and techniques, all of them addressing both security and privacy issues).
IEC. Any of the following:
(a) IEC fails to pay, for two (2) consecutive months, the amounts due to the Borrower in accordance with the Permanent License, the Tariff Approval and the IEC PPA;
(b) IEC ceases to be an Essential Service Provider;
(c) A material claim in relation to the Project is filed against IEC;
(d) An attachment of an asset of IEC, which, in the opinion of the Senior Agent, has or is reasonably likely to have a Material Adverse Effect;
(e) An event of default however so described occurs under any document evidencing or securing or relating to Financial Indebtedness of IEC, which, in the opinion of the Senior Agent, has or is reasonably likely to have a Material Adverse Effect;
(f) Any of the circumstances set out in Clause 20.6 (Insolvency) has occurred in relation to IEC;
(g) IEC suspends making payments on all or any class of its indebtedness or announces an intention to do so, or otherwise admits its inability or unwillingness to pay its Financial Indebtedness as it falls due (other than unwillingness to pay indebtedness arising solely as a result of a dispute in respect of such indebtedness, which dispute is being actively contested by appropriate proceedings). None of the circumstances or events under this Clause 20.17 (IEC) will constitute an Event of Default herein if (a) a successor Essential Service Provider is appointed to replace the IEC, and (b) such successor assumes all obligations of IEC towards the Borrower to the full satisfaction of the Senior Agent. To the extent the terms set out in sub-clause (a) and (b) above have been met, this Clause 20.17 (IEC) shall apply with respect to the successor as if references to IEC herein were references to the successor.
IEC. CIRD is in the process of re-designing it technical strategy for IEC activities and has set into motion several activities to focus CIRD’s activities so they yield greater impact. Some of steps include: change in leadership, new procurement process and draft global communication strategy. The Evaluator spent considerable time with the IE&C team to develop this list of recommendations:
1. Develop immediately a joint communication strategy for all Alianza members . The three Alianza members acknowledge the needs to better coordinate IEC activities. XXXX took an initial step by proposing some preliminary ideas for a joint IEC strategy, but it is not sufficient for a global IEC strategy. To accelerate the process by which to design a global IEC strategy, the Evaluator suggests:
IEC. (a) Carrying out an IEC program aimed at increasing the awareness of both men and women, on social and legal issues in a gender sensitive manner.
(b) Preparation of an IEC Manual.
(c) Carrying out a Role-Model program whereby successful women share their experiences and promote some of the IEC messages developed under (a) above.
