Power Producer’s Waiver Sample Clauses

Power Producer’s Waiver. 16.7.1 The Power Producer irrevocably agrees and consents (to the extent to which applicable law may require such consent) to any actions of the Lenders, the Lender’s Representative and Procurer or exercise of their rights under and in accordance with these terms. 16.7.2 The Power Producer irrevocably agrees and consents (to the extent to which applicable law may require such consents) that from the date specified in Article 16.6, it shall cease to have any rights under the PPA or the Financing PPAs other than those expressly stated therein. 16.7.3 The Power Producer warrants and covenants that any PPA entered into by it, in relation to the Project, shall include a legally enforceable clause providing for automatic novation of such PPA in favour of the Selectee, at the option of the Lenders or Procurer. The Power Producer further warrants and covenants that, in respect of any PPAs which have already been executed in relation to the Project and which lack a legally enforceable clause providing for automatic novation of such PPA, the Power Producer shall procure an amendment in the concluded PPA to incorporate such clause.
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Power Producer’s Waiver. The Power Producer irrevocably agrees and consents (to the extent to which applicable law may require such consent) to any actions of the Lenders, the Lender’s Representative and Procurer or exercise of their rights under and in accordance with these terms. The Power Producer irrevocably agrees and consents (to the extent to which applicable law may require such consents) that from the date specified in Article 16.6, it shall cease to have any rights under the PPA or the Financing agreements other than those expressly stated therein. The Power Producer warrants and covenants that any PPA entered into by it, in relation to the Project, shall include a legally enforceable clause providing for automatic novation of such PPA in favour of the Selectee, at the option of the Lenders or Procurer. The Power Producer further warrants and covenants that, in respect of any PPAs which have already been executed in relation to the Project and which lack a legally enforceable clause providing for automatic novation of such PPA, the Power Producer shall procure an amendment in the concluded PPA to incorporate such clause. Interim Protection of Service and Preservation of Security Appointment of a Receiver In every case of the Lenders issuing a Substitution Notice and Procurer refusing to take over the Project and the Power Producer failing to operate the Project in accordance with Article 16.4 above and Procurer not electing to act as Receiver as per Article 16.8 below, the Lenders may institute protective legal proceedings for appointment of a receiver (the “Receiver”) to maintain, preserve and protect the assets held as security by the Lenders if such right is granted under the terms of the Financing agreements. Provided that in event of Procurer refusing to take over the Project and the Power Producer failing to operate the Project in accordance with Article 16.4 above, and if the assets of the Project are, in the opinion of Procurer, necessary and required for the operation and maintenance of the Project, Procurer shall be entitled to elect to act as the Receiver for the purposes of this Article and be entitled to maintain, preserve and protect the said assets by engaging an operator/service provider to act on their behalf and the Lenders and Power Producer hereby consent and agree to the same. Upon Procurer so intimating the Power Producer and the Lender’s representative their desire to act as Receiver, the Power Producer and the Lender’s representative shall co-oper...
Sample 1

Related to Power Producer’s Waiver

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