Paragraph 16. (a) Subparagraph 16(b) is redesignated as subparagraph 16(b)(i) and the following is added as the last sentence thereof: "Notwithstanding anything in this Contract to the contrary, specifically including but not limited to this Paragraph 16, Owner may not terminate or cancel this Contract without the prior written consent of the Secretary."
(b) A new subparagraph 16(b)
Paragraph 16. A new Paragraph 16(g) is added to read as follows:
Paragraph 16. (a) The words "seven (7)" appearing in Paragraph 16(c)
(i) are changed to "ten (10) business."
(b) The following is added as a new first sentence to Paragraph 16(c)(i): "Builder shall give Owner and the Secretary notice of any default by Owner under this Paragraph 16(c)(i)."
(c) The following is added as a new sub-paragraph (e) to Paragraph 16:
Paragraph 16. 2(i) of the Lease is hereby amended to read as follows: Declare due and payable immediately the entire amount of rent and all other amounts remaining to be paid over the balance of the term plus the anticipated residual value of the Equipment at the expiration of the term of the Lease, discounted to the date of default at six percent (6%) per annum, plus interest thereon at twelve percent (12%) from the date of default until paid.
Paragraph 16. 15.1 does not apply to:
(a) disposals made in the ordinary course of trade of the disposing entity on arm’s length terms;
(b) Permitted Security Interests;
(c) disposals required by the provisions of the Project Contracts; or
(d) disposals of obsolete or redundant assets which are no longer required for the efficient operation of its business and are not replaced, on arm’s length terms and in an aggregate amount not exceeding $1,000,000 in any financial year.
Paragraph 16. 4 - Added ‘and provide invoices upon request from the parents’
Paragraph 16. 2.4 of this term does not apply to a variation made by or as a result of an enactment.
Paragraph 16. “the contracting party concerned shall consult”
(a) to achieve the purpose of promoting the establishment of a particular industry with a view to raising the general standard of living of its people. While the procedures of Section C of Article XVIII are explicitly intended to facilitate the general economic development of less-developed countries, their use must be limited to cases where the criteria set forth in that Article are fulfilled”.84 “The Panel has noted that for a number of these notifications by Ceylon the exporting countries to be affected were often countries with a lower standard of living. It suggests that in granting future releases under Article XVIII the CONTRACTING PARTIES may wish to take account of the effects of the proposed measures not only on the economic development of the applicant country, but also on the economy of countries which may likewise be in the early stages of economic development and whose viability and solvency depended predominantly on exports”.85
Paragraph 16. 2 shall not apply to the extent that the Supplier is required by any applicable law to retain some or all of the Xxxxxxx Data, in which case Supplier shall isolate and protect such Xxxxxxx Data from any further processing except to the extent required by such law.
Paragraph 16. Possession as reads $1,000.00 per day shall be changed to $200.00 per day.
