Limits on Authority Liability on Step. In The Authority will not be required to assume any liability under a Step-in Undertaking for any outstanding obligations or liabilities of Project Co to the Material Project Contractor which: (a) existed as at the Step-In Date; and (b) are not notified to the Authority pursuant to Sections 3.3 and 3.4.
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Samples: Material Project Contractor Collateral Agreement, Material Project Contractor Collateral Agreement, Material Project Contractor Collateral Agreement
Limits on Authority Liability on Step. In The Authority will not be required to assume any liability under a Step-in Undertaking for any outstanding obligations or liabilities of Project Co to the Material Project Contractor which:
(a) existed as at the Step-In in Date; and
(b) are not notified to the Authority pursuant to Sections 3.3 and 3.4.
Appears in 1 contract
