Common use of Obligation of Parties Clause in Contracts

Obligation of Parties. Following issue of Termination Notice by either Party, the Parties shall, subject to the provision of the Financing Documents and the rights of the Lenders provided therein, promptly take all such steps as may be necessary or required to ensure that: (a) Until Termination the Parties shall, to the fullest extent possible, discharge their respective obligations so as to maintain the continued operation of the Project Facilities. (b) The Termination Payment, if any, payable by the Lead ULB in accordance with the Clause

Appears in 2 contracts

Samples: Concession Agreement, Concession Agreement

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Obligation of Parties. Following issue of Termination Notice by either Party, the Parties shall, subject to the provision of the Financing Documents and the rights of the Lenders provided therein, shall promptly take all such steps as may be necessary or required to ensure that: (a) Until i. until Termination the Parties shall, to the fullest extent possible, discharge their respective obligations so as to maintain the continued operation of the Project Facilities. (b) The Termination PaymentFacility(ies), ii. the termination payment, if any, payable by the Lead ULB Brajrajnagar Municipality in accordance with the Clausefollowing Article 15.6 is paid to the Operator on the Termination Date and

Appears in 1 contract

Samples: Operation & Management Contract

Obligation of Parties. Following issue of Termination Notice by either Party, the Parties shall, subject to the provision of the Financing Documents and the rights of the Lenders provided therein, shall promptly take all such steps as may be necessary or required to ensure that:; (ai) Until until Termination the Parties shall, to the fullest extent possible, discharge their respective obligations so as to maintain the continued operation of the Project Facilities.; (bii) The Termination Paymentthe termination payment, if any, payable by the Lead ULB MCD in accordance with the Clausefollowing

Appears in 1 contract

Samples: Concession Agreement

Obligation of Parties. Following issue of Termination Notice by either Party, the Parties shall, subject to the provision of the Financing Documents and the rights of the Lenders provided therein, shall promptly take all such steps as may be necessary or required to ensure that:; (ai) Until until Termination the Parties shall, to the fullest extent possible, discharge their respective obligations so as to maintain the continued operation of the Project Facilities.; (bii) The Termination Paymentthe termination payment, if any, payable by the Lead ULB NDMC in accordance with the ClauseArticle 10.

Appears in 1 contract

Samples: Concession Agreement

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Obligation of Parties. Following issue of Termination Notice by either Party, the Parties shall, subject to the provision of the Financing Documents and the rights of the Lenders provided therein, shall promptly take all such steps as may be necessary or required to ensure that:; (ai) Until until Termination the Parties shall, to the fullest extent possible, discharge their respective obligations so as to maintain the continued operation of the Project Facilities. (b) The Termination Payment, if any, payable by the Lead ULB in accordance with the ClauseSLF; i.

Appears in 1 contract

Samples: Concession Agreement

Obligation of Parties. Following issue of Termination Notice by either Party, the Parties shall, subject to the provision of the Financing Documents and the rights of the Lenders provided therein, shall promptly take all such steps as may be necessary or required to ensure that: (ai) Until until Termination the Parties shall, to the fullest extent possible, discharge their respective obligations so as to maintain the continued operation of the Project Facilities.; (bii) The Termination Payment, if any, payable the Project Facilities are handed back to EDMC as per provisions of Article 10 by the Lead ULB lessee in accordance with the Clausefollowing sub – article

Appears in 1 contract

Samples: Lease Agreement

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