Common use of Obligation of Parties Clause in Contracts

Obligation of Parties. Following issue of Termination Notice by either Party, the Parties shall promptly take all such steps as may be necessary or required to ensure that; (a.) until Termination is final the Parties shall, to the fullest extent possible, discharge their respective obligations so as to maintain the continued operation of the Project; (b.) the Termination Payment, if any, payable by the Authority in accordance with the following sub - article 14.4.6 is paid to the Concessionaire within 30 (thirty) days of the Termination Date; and (c.) the Project is handed back to the Authority and all the PLBs, by the Concessionaire on the Termination Date free from any Encumbrance along with any payment that may be due by the Concessionaire to Authority.

Obligation of Parties. Following issue of Termination Notice by either Party, the Parties shall promptly take all such steps as may be necessary or required to ensure that; (a.) until Termination untilTermination is final the Parties shall, to the fullest extent possible, discharge their respective obligations so as to maintain the continued operation of the Project; (b.) the Termination Payment, if any, payable by the Authority in accordance with the following sub - article 14.4.6 is paid to the Concessionaire within 30 (thirty) days of the Termination Date; and (c.) the Project is handed back to the Authority and all the PLBs, by the Concessionaire on the Termination Date free from any Encumbrance along with any payment that may be due by the Concessionaire to Authority.