Common use of NO RETENDERING PROCEDURE Clause in Contracts

NO RETENDERING PROCEDURE. Subject to paragraph 4.2, if the provisions of this paragraph 4 (No Retendering Procedure) apply Sub-hubco shall not be entitled to receive any Post Termination Service Amount. If the Authority elects to follow the no retendering procedure in accordance with this paragraph 4 (No Retendering Procedure) after it has elected to follow the procedure under paragraph 3 (Retendering Procedure), then the Authority shall continue to pay to Sub-hubco each Post Termination Service Amount until the Compensation Date, in accordance with paragraph 3 (Retendering Procedure). In agreeing or determining the Estimated Fair Value of the Agreement the parties shall be obliged to follow the principles set out below: all forecast amounts of revenues and costs should be calculated in nominal terms at current prices, recognising the adjustment for indexation in respect of forecast inflation between the date of calculation and the forecast payment date(s) as set out in this Agreement; the total of all payments of the full Service Payments forecast to be made from the Termination Date to the Expiry Date shall be calculated and discounted at the Discount Rate; the total of all costs reasonably forecast to be incurred by the Authority as a result of termination shall be calculated and discounted at the Discount Rate and deducted from the payment calculated pursuant to paragraph 4.3.2 above, such costs to include (without double counting): a reasonable risk assessment of any cost overruns that will arise, whether or not forecast in the relevant base case; the costs of providing the Services reasonably forecast to be incurred by the Authority from the Termination Date to the Expiry Date in providing the Project Operations to the standard required; and any rectification costs required to deliver the Project Operations to the standard required (including any costs reasonably forecast to be incurred by the Authority to complete the Works) and additional operating costs required to restore operating services standards less (to the extent that such sums are included in any calculation of rectification costs for the purposes of this paragraph) the aggregate of: any insurance proceeds received (or held in the Insurance Proceeds Account) or which will be received pursuant to policies maintained in accordance with Clause 53 (Insurance): and amounts payable by the Authority in respect of Capital Expenditure under this Agreement which have not been paid, in each case such costs to be forecast at a level that will deliver the Services to the standards required by this Agreement. If the parties cannot agree on the Estimated Fair Value of the Agreement on or before the date falling twenty (20) Business Days after the date on which the Authority elected or was required pursuant to paragraph 2 (Retendering Election) or paragraph 3 (Retendering Procedure) to follow the no retendering procedure in accordance with this paragraph 4 (No Retendering Procedure), then the Adjusted Estimated Fair Value of the Agreement shall be determined in accordance with Clause 56 (Dispute Resolution). The Adjusted Estimated Fair Value of the Agreement shall be paid in accordance with Section 5 (General) of this Schedule Part 17 (Compensation on Termination).

NO RETENDERING PROCEDURE. Subject to paragraph 4.2, if the provisions of this paragraph 4 (No Retendering Procedure) apply Sub-hubco Project Co shall not be entitled to receive any Post Termination Service Amount. If the Authority elects to follow the no retendering procedure in accordance with this paragraph 4 (No Retendering Procedure) after it has elected to follow the procedure under paragraph 3 (Retendering Procedure), then the Authority shall continue to pay to Sub-hubco Project Co each Post Termination Service Amount until the Compensation Date, in accordance with paragraph 3 (Retendering Procedure). In agreeing or determining the Estimated Fair Value of the Agreement the parties shall be obliged to follow the principles set out below: all forecast amounts of revenues and costs should be calculated in nominal terms at current prices, recognising the adjustment for indexation in respect of forecast inflation between the date of calculation and the forecast payment date(s) as set out in this Agreement; the total of all payments of the full Service Payments forecast to be made from the Termination Date to the Expiry Date shall be calculated and discounted at the Discount Rate; the total of all costs reasonably forecast to be incurred by the Authority as a result of termination shall be calculated and discounted at the Discount Rate and deducted from the payment calculated pursuant to paragraph 4.3.2 above, such costs to include (without double counting): a reasonable risk assessment of any cost overruns that will arise, whether or not forecast in the relevant base case; the costs of providing the Services reasonably forecast to be incurred by the Authority from the Termination Date to the Expiry Date in providing the Project Operations to the standard required; and any rectification costs required to deliver the Project Operations to the standard required (including any costs reasonably forecast to be incurred by the Authority to complete the Works) and additional operating costs required to restore operating services standards less (to the extent that such sums are included in any calculation of rectification costs for the purposes of this paragraph) the aggregate of: any insurance proceeds received (or held in the Insurance Proceeds Account) or which will be received pursuant to policies maintained in accordance with Clause 53 (Insurance): and amounts payable by the Authority in respect of Capital Expenditure under this Agreement which have not been paid, in each case such costs to be forecast at a level that will deliver the Services to the standards required by this Agreement; the Net Present Value at the Termination Date of all future Surplus Payments forecast in the Financial Model shall be calculated and deducted from the payment calculation pursuant to paragraph 4.3.2 above. If the parties cannot agree on the Estimated Fair Value of the Agreement on or before the date falling twenty (20) Business Days after the date on which the Authority elected or was required pursuant to paragraph 2 (Retendering Election) or paragraph 3 (Retendering Procedure) to follow the no retendering procedure in accordance with this paragraph 4 (No Retendering Procedure), then the Adjusted Estimated Fair Value of the Agreement shall be determined in accordance with Clause 56 (Dispute Resolution). The Adjusted Estimated Fair Value of the Agreement shall be paid in accordance with Section 5 (General) of this Schedule Part 17 (Compensation on Termination). In the event that the Adjusted Estimated Fair Value of the Agreement exceeds the Maximum Termination Amount, the Adjusted Estimated Fair Value of the Agreement shall be deemed to be an amount equal to the Maximum Termination Amount.

NO RETENDERING PROCEDURE. Subject to paragraph 4.2, if the provisions of this paragraph 4 (No Retendering Procedure) apply Sub-hubco DBFM Co shall not be entitled to receive any Post Termination Service Amount. If the Authority elects to follow the no retendering procedure in accordance with this paragraph 4 (No Retendering Procedure) after it has elected to follow the procedure under paragraph 3 (Retendering Procedure), then the Authority shall continue to pay to Sub-hubco DBFM Co each Post Termination Service Amount until the Compensation Date, in accordance with paragraph 3 (Retendering Procedure). In agreeing or determining the Estimated Fair Value of the Agreement the parties shall be obliged to follow the principles set out below: all forecast amounts of revenues and costs should be calculated in nominal terms at current prices, recognising the adjustment for indexation in respect of forecast inflation between the date of calculation and the forecast payment date(s) as set out in this Agreement; the total of all payments of the full Service Payments forecast to be made from the Termination Date to the Expiry Date shall be calculated and discounted at the Discount Rate; the total of all costs reasonably forecast to be incurred by the Authority as a result of termination shall be calculated and discounted at the Discount Rate and deducted from the payment calculated pursuant to paragraph 4.3.2 above, such costs to include (without double counting): a reasonable risk assessment of any cost overruns that will arise, whether or not forecast in the relevant base case; the costs of providing the Services reasonably forecast to be incurred by the Authority from the Termination Date to the Expiry Date in providing the Project Operations to the standard required; and any rectification costs required to deliver the Project Operations to the standard required (including any costs reasonably forecast to be incurred by the Authority to complete the Works) and additional operating costs required to restore operating services standards less (to the extent that such sums are included in any calculation of rectification costs for the purposes of this paragraph) the aggregate of: any insurance proceeds received (or held in the Insurance Proceeds Account) or which will be received pursuant to policies maintained in accordance with Clause 53 (Insurance): and amounts payable by the Authority in respect of Capital Expenditure under this Agreement which have not been paid, in each case such costs to be forecast at a level that will deliver the Services to the standards required by this Agreement. If the parties cannot agree on the Adjusted Estimated Fair Value of the Agreement on or before the date falling twenty (20) Business Days after the date on which the Authority elected or was required pursuant to paragraph 2 (Retendering Election) or paragraph 3 (Retendering Procedure) to follow the no retendering procedure in accordance with this paragraph 4 (No Retendering Procedure), then the Adjusted Estimated Fair Value of the Agreement shall be determined in accordance with Clause 56 (Dispute Resolution). The Adjusted Estimated Fair Value of the Agreement shall be paid in accordance with Section 5 (General) of this Schedule Part 17 (Compensation on Termination).

NO RETENDERING PROCEDURE. If either the Authority is not entitled to retender the provision of the Project under paragraph 1 or paragraph 2.10.2 applies, or the Authority elects to require an expert determination in accordance with this paragraph 3, then the following procedure shall apply: Subject to paragraph 4.23.2 below, if the provisions of this paragraph 4 (No Retendering Procedure) apply Sub-hubco Contractor shall not be entitled to receive any Post Termination Service Amount. If the Authority elects to follow the no retendering procedure require an expert determination in accordance with this paragraph 4 (No Retendering Procedure) 3 after it has elected to follow the procedure under paragraph 3 (Retendering Procedure)2, then the Authority shall continue to pay to Sub-hubco the Contractor each Post Termination Service Amount until the Compensation Date, in accordance with paragraph 3 (Retendering Procedure)2.7. In agreeing or determining the Estimated Fair Value of the Agreement Contract, the parties Parties shall be obliged to follow the principles set out below: all forecast amounts of revenues and costs should (including Third Party Income) shall be calculated in nominal terms at current prices, recognising the adjustment for indexation in respect of forecast inflation between the date of calculation and the forecast payment date(s) as set out in this AgreementContract; the total of all future payments of the full Service Payments Unitary Charge (without deductions) and Third Party Income forecast to be made from the Termination Date to the Expiry Date shall be calculated and discounted to the Termination Date at the Termination Date Discount RateRate save that Third Party Income forecast shall be no higher than the lower of (i) the average Third Party Income received by the Contractor on a monthly basis in the twenty four (24) months immediately prior to the Termination Date and (ii) the amount relating to Third Party income set out in the original Base Case; the total of all costs reasonably forecast to be incurred by the Authority as a result of termination shall be calculated and discounted at the Termination Date Discount Rate and deducted from the payment calculated pursuant to paragraph 4.3.2 above3.3.2, such costs to include (without double counting): a reasonable risk assessment of any cost overruns that will arise, whether or not forecast in the relevant base case; the costs of providing the Services reasonably forecast to be incurred by the Authority from the Termination Date to the Expiry Date in providing the Project Operations Services to the standard requiredstandards required (including, where necessary and without limitation, landfill costs, pre and post treatment and other disposal costs); all costs (and depreciation and other charges) projected to be required to generate such Third Party Income forecast; and any rectification costs required to deliver the Project Operations to the standard required (including any costs reasonably forecast to be incurred by the Authority to complete the Works) construction or development work and additional operating costs required to restore operating services standards less (to the extent that such sums are included in any calculation of rectification costs for the purposes of this paragraph) the aggregate of: any insurance proceeds received (or held in the Insurance Proceeds Account) or which will be received pursuant to policies maintained in accordance with Clause 53 (Insurance): and amounts payable by the Authority in respect of Capital Expenditure under this Agreement which have not been paid, in each case such costs to be forecast at a level that will deliver the Services to the standards required by this Agreement. If the parties cannot agree on the Estimated Fair Value of the Agreement on or before the date falling twenty (20) Business Days after the date on which the Authority elected or was required pursuant to paragraph 2 (Retendering Election) or paragraph 3 (Retendering Procedure) to follow the no retendering procedure in accordance with this paragraph 4 (No Retendering Procedurestandards), then the Adjusted Estimated Fair Value of the Agreement shall be determined in accordance with Clause 56 (Dispute Resolution). The Adjusted Estimated Fair Value of the Agreement shall be paid in accordance with Section 5 (General) of this Schedule Part 17 (Compensation on Termination).;

NO RETENDERING PROCEDURE. Subject to paragraph 4.2308.2, if the provisions of this paragraph 4 308 (No Retendering Procedure) apply Sub-hubco Project Co shall not be entitled to receive any Post Termination Service Amount. If the Authority elects to follow the no retendering procedure in accordance with this paragraph 4 308 (No Retendering Procedure) after it has elected to follow the procedure under paragraph 3 307 (Retendering Procedure), then the Authority shall continue to pay to Sub-hubco Project Co each Post Termination Service Amount until the Compensation Date, in accordance with paragraph 3 307 (Retendering Procedure). In agreeing or determining the Estimated Fair Value of the Agreement the parties shall be obliged to follow the principles set out below: all forecast amounts of revenues and costs should be calculated in nominal terms at current prices, recognising the adjustment for indexation in respect of forecast inflation between the date of calculation and the forecast payment date(s) as set out in this Agreement; the total of all payments of the full Service Payments forecast to be made from the Termination Date to the Expiry Date shall be calculated and discounted at the Discount Rate; the total of all costs reasonably forecast to be incurred by the Authority as a result of termination shall be calculated and discounted at the Discount Rate and deducted from the payment calculated pursuant to paragraph 4.3.2 308.3.2 above, such costs to include (without double counting): a reasonable risk assessment of any cost overruns that will arise, whether or not forecast in the relevant base case; the costs of providing the Services reasonably forecast to be incurred by the Authority from the Termination Date to the Expiry Date in providing the Project Operations to the standard required; and any rectification costs required to deliver the Project Operations to the standard required (including any costs reasonably forecast to be incurred by the Authority to complete the Works) and additional operating costs required to restore operating services standards less (to the extent that such sums are included in any calculation of rectification costs for the purposes of this paragraph) the aggregate of: any insurance proceeds received (or held in the Insurance Proceeds Account) or which will be received pursuant to policies maintained in accordance with Clause 53 (Insurance): and amounts payable by the Authority in respect of Capital Expenditure under this Agreement which have not been paid, in each case such costs to be forecast at a level that will deliver the Services to the standards required by this Agreement; the Net Present Value at the Termination Date of all future Surplus Payments forecast in the Financial Model shall be calculated and deducted from the payment calculation pursuant to paragraph 308.3.2 above. If the parties cannot agree on the Estimated Fair Value of the Agreement on or before the date falling twenty (20) Business Days after the date on which the Authority elected or was required pursuant to paragraph 2 306 (Retendering Election) or paragraph 3 307 (Retendering Procedure) to follow the no retendering procedure in accordance with this paragraph 4 308 (No Retendering Procedure), then the Adjusted Estimated Fair Value of the Agreement shall be determined in accordance with Clause 56 (Dispute Resolution). The Adjusted Estimated Fair Value of the Agreement shall be paid in accordance with Section 5 (General) of this Schedule Part 17 (Compensation on Termination). In the event that the Adjusted Estimated Fair Value of the Agreement exceeds the Maximum Termination Amount, the Adjusted Estimated Fair Value of the Agreement shall be deemed to be an amount equal to the Maximum Termination Amount.