NEXT System Documents Clause Samples
NEXT System Documents. (a) The NEXT System Documents contain all the terms of the material contractual arrangements relevant to the construction and launch of the NEXT Constellation.
(b) As at the date of this Agreement:
(i) each copy of a NEXT System Document delivered to the COFACE Agent pursuant to Clause 4 (Conditions of Utilisation) is true and complete in all material respects;
(ii) there is no other agreement in connection with, or arrangements which amend, supplement or affect any Material NEXT System Document; and
(iii) there is no dispute in connection with any Material NEXT System Document:
(A) in respect of which any contractual dispute resolution provision has been enlivened or invoked; or
(B) which is otherwise material, and no dispute with any NEXT System Document that could reasonably be expected to have a Material Adverse Effect.
(c) Each NEXT System Document is in full force and effect and is enforceable in accordance with its terms except (i) for any NEXT System Document which has expired or terminated in accordance with its terms as permitted under the Finance Documents or which is not required to be in effect at the relevant time, or (ii) for any NEXT System Document (other than a Material NEXT System Document) where the failure to be in full force and effect would not reasonably be likely to have a Material Adverse Effect.
(d) No Obligor is in breach of any NEXT System Document in any material respect.
NEXT System Documents. (a) The Borrower must supply to the COFACE Agent:
(i) a report confirming that the Borrower has reviewed the Technical Adviser’s Quarterly Report and that, subject to any discrepancies and exceptions specifically detailed in the Borrower’s report, the Borrower agrees in all material respects with the Technical Adviser’s Quarterly Report and the Technical Adviser’s Quarterly Report does not include any information that renders it untrue or misleading in any material respect and the Borrower is not aware of any material fact or circumstance relevant to the interests of the Lenders which was not addressed in the Technical Adviser’s Quarterly Report; and
(ii) semi-annual reports on the status of all Secondary Payload Contracts (including details as to whether such Secondary Payload Contracts are projected, under negotiation, committed or signed) and the projected revenues thereunder (a Secondary Payload Status Report). This information must be supplied by the Borrower as soon as it is available and in any event in the case of paragraph (a)(i) above, within thirty (30) days after the Borrower’s receipt of the Technical Adviser’s Quarterly Report and in the case of paragraph (a)(ii) above, within thirty (30) days after the end of each Financial Year and the end of each Financial Quarter ending on 30 June. The form of the Secondary Payload Status Report shall be in substantially the form set out in Schedule 26 (Form of Secondary Payload Status Report).
(b) If as of September 2012 (based on the Secondary Payload Status Report most recently delivered or otherwise) the total amount of committed Secondary Payload Cashflows payable to the Obligors pursuant to binding Secondary Payload Contracts is less than $[***], the Borrower shall promptly enter into good faith discussions with the COFACE Agent and the Lenders for a period of up to six months in order to discuss the steps being taken by the Borrower in respect of any consequential funding gap in order to achieve NEXT System Completion on or prior to the NEXT System Completion Long-Stop Date.
(c) The Borrower must promptly notify the COFACE Agent of:
(i) any material claim it may have under any indemnity or provision for liquidated damages under any Material NEXT System Document;
(ii) any change of work which the Borrower wishes to request or agree to or which is mandatory under any Material NEXT System Document and which is reasonably likely to:
(A) increase:
I. with respect to the Satellite Supply Contract, the Co...
NEXT System Documents. A copy of each of the following NEXT System Documents:
NEXT System Documents. (a) The NEXT System Documents contain all the terms of the material contractual arrangements relevant to the construction and launch of the NEXT Constellation.
(b) As at the date of this Agreement:
(i) each copy of a NEXT System Document delivered to the BPIAE Agent pursuant to Clause 4 (Conditions of Utilisation) is true and complete in all material respects;
(ii) there is no other agreement in connection with, or arrangements which amend, supplement or affect any Material NEXT System Document; and
(iii) there is no dispute in connection with any Material NEXT System Document:
(A) in respect of which any contractual dispute resolution provision has been enlivened or invoked; or
(B) which is otherwise material, and no dispute with any NEXT System Document that could reasonably be expected to have a Material Adverse Effect.
(c) Each NEXT System Document is in full force and effect and is enforceable in accordance with its terms except (i) for any NEXT System Document which has expired or terminated in accordance with its terms as permitted under the Finance Documents or which is not required to be in effect at the relevant time, or (ii) for any NEXT System Document (other than a Material NEXT System Document) 0080105-0000405 PA:20488617.7 103 where the failure to be in full force and effect would not reasonably be likely to have a Material Adverse Effect.
(d) No Obligor is in breach of any NEXT System Document in any material respect.
NEXT System Documents. (a) The Borrower must supply to the COFACE Agent: