Common use of Process of Substitution of Power Producer Clause in Contracts

Process of Substitution of Power Producer. 17.5.1 The Lenders’ Representative may, on delivery of a Substitution Notice notify Procurer and the Power Producer on behalf of all the Lenders about the Lenders’ decision to invite and negotiate, at the cost of the Lenders, offers from third parties to act as Selectee, either through private negotiations or public auction and / or a tender process, for the residual period of the PPA. Subject to and upon approval of, such Selectee shall be entitled to receive all the rights of the Power Producer and shall undertake all the obligations of the Power Producer under the PPA and other Project Documents executed between the Power Producer and Xxxxxxxx, in accordance with these terms of substitution.

Process of Substitution of Power Producer. 17.5.1 The Lenders’ Lenders‟ Representative may, on delivery of a Substitution Notice notify Procurer and the Power Producer on behalf of all the Lenders about the Lenders’ Lenders‟ decision to invite and negotiate, at the cost of the Lenders, offers from third parties to act as Selectee, either through private negotiations or public auction and / or a tender process, for the residual period of the PPA. Subject to and upon approval of, such Selectee shall be entitled to receive all the rights of the Power Producer and shall undertake all the obligations of the Power Producer under the PPA and other Project Documents executed between the Power Producer and XxxxxxxxProcurer, in accordance with these terms of substitution.

Process of Substitution of Power Producer. 17.5.1 16.5.1 The Lenders’ Representative may, on delivery of a Substitution Notice notify Procurer and the Power Producer on behalf of all the Lenders about the Lenders’ decision to invite and negotiate, at the cost of the Lenders, offers from third parties to act as Selectee, either through private negotiations or public auction and / or a tender process, for the residual period of the PPA. Subject to and upon approval of, such Selectee shall be entitled to receive all the rights of the Power Producer and shall undertake all the obligations of the Power Producer under the PPA and other Project Documents executed between the Power Producer and XxxxxxxxProcurer, in accordance with these terms of substitution.

Process of Substitution of Power Producer. 17.5.1 The Lenders’ Lenders‟ Representative may, on delivery of a Substitution Notice notify Procurer and the Power Producer on behalf of all the Lenders about the Lenders’ Lenders‟ decision to invite and negotiate, at the cost of the Lenders, offers from third parties to act as Selectee, either through private negotiations or public auction and / or a tender process, for the residual period of the PPA. Subject to and upon approval of, such Selectee shall be entitled to receive all the rights of the Power Producer and shall undertake all the obligations of the Power Producer under the PPA and other Project Documents executed between the Power Producer and Xxxxxxxx, in accordance with these terms of substitution.

Process of Substitution of Power Producer. 17.5.1 The Lenders’ Representative may, on delivery of a Substitution Notice notify Procurer and the Power Producer on behalf of all the Lenders about the Lenders’ decision to invite and negotiate, at the cost of the Lenders, offers from third parties to act as Selectee, either through private negotiations or public auction and / or a tender process, for the residual period of the PPA. Subject to and upon approval of, such Selectee shall be entitled to receive all the rights of the Power Producer and shall undertake all the obligations of the Power Producer under the PPA and other Project Documents executed between the Power Producer and XxxxxxxxProcurer, in accordance with these terms of substitution.