Project Events. (a) The Recipient must:
(i) invite representatives of the Department to all Project Events; and
(ii) ensure that the official proceedings in each Project Event allows for a Department representative to speak.
(b) Once any arrangement has been confirmed in relation to clause 12.2(a), the Recipient must, as soon as practicable, notify the Department in writing of any change to the Project Event.
Project Events. 58 Section 9.07. Material Adverse Effect..................................................................59 Section 9.08. Project Documents; Security Documents....................................................59 Section 9.09. Ownership of the Borrower................................................................60 Section 9.10. Judgments................................................................................61 Section 9.11.
Project Events. (a) The Borrower shall cease to have the right to possess and use all or any portion of the Site; or
(b) any event shall have occurred which entitles the Borrower or PNOC-EDC to give a notice under Section 9.1 of the BOT Agreement; or
(c) the Borrower shall (except as permitted by Section 8.02 hereof) sell or otherwise dispose of any of its interest in the Project; or
(d) an event or circumstance described in subclause (a), (b), (c) or (d) of Section 15.4.1 of the BOT Agreement shall have occurred, it being understood that for purposes of this Section 9.06(d), the words "one-hundred twenty (120)" or "120" contained in subclauses (b) and (c) of Section 15.4.1 of the BOT Agreement shall be replaced with the words "sixty (60)" in each place where such words appear and the words "one hundred fifty (150)" or "150" contained in subclause (d) of Section 15.4.1 of the BOT Agreement shall be replaced by the words "ninety (90)" in each place where such words appear; or
(e) an event or circumstance described in subclause (a), (b) or (c) of Section 15.4.2 of the BOT Agreement shall have occurred, it being understood that for purposes of this Section 9.06(e), the words "one-hundred twenty (120)" contained in subclauses (b) and (c) of Section 15.4.2 of the BOT Agreement shall be replaced with the words "sixty 60" in each place where such words appear; or
(f) the Borrower shall have received notice from PNOC-EDC under Section 15.2(c) of the BOT Agreement and shall have failed to cure the underlying BOT Agreement default giving rise to such notice within 15 days after Borrower's receipt thereof; provided, however, that if following the receipt of such notice and prior to Eximbank taking action pursuant to an Event of Default under this Section 9.06(f), (i) the Borrower and PNOC-EDC shall have agreed in writing to one or more fixed extensions of the period provided for in Section 15.2(c) of the BOT Agreement and (ii) the Borrower shall have provided Eximbank, in the case of each such extension, with an opinion of Philippine counsel reasonably satisfactory to Eximbank to the effect that such extension is legal, valid, binding and enforceable, then an Event of Default under this Section 9.06(f) shall have occurred only if the Borrower shall have failed to cure the underlying BOT Agreement default giving rise to such notice from PNOC-EDC on or prior to the date falling 15 days prior to the expiry of any such extended period; or
Project Events. 39 SECTION 6.07 MATERIAL ADVERSE EFFECT....................................40 SECTION 6.08 PROJECT DOCUMENTS; SECURITY DOCUMENTS......................40
Project Events. The Project Events section lists all the conferences, workshops and other events where COSIGN has been represented, either through paper presentations, keynote speeches or project presentations.
Project Events. The Recipient must notify the Department of all Project Events.
Project Events. (a) Prior to the Construction Completion Date, the Project Works are suspended for a continuous period in excess of forty five (45) days, other than (i) during a period of scheduled cessation of the Project Works, or (ii) as approved by the Senior Agent, or (iii) as result of a Force Majeure Event, in which case Clause 20.21 (Force Majeure) shall apply.
(b) Following the Construction Completion Date, the Project Facilities are shutdown for consecutive periods in aggregate in excess of sixty (60) days in any twelve (12) months period, other than (i) during a period of scheduled cessation of operations or (ii) as approved by the Senior Agent or (iii) as result of a Force Majeure Event, in which case Clause 20.21 (Force Majeure) shall apply.
(c) The Borrower, the EPC Contractor, the Operator or the LTSA Contractor, as applicable, shall cease to have:
(i) the right to use the Site under, and in accordance with the terms of, the Land Lease Agreement or, for so long as the Energy Center is held by the Borrower, the right to use the Energy Center Site under and in accordance with the terms of the Energy Center Land Lease Agreement;
(ii) good title to, or freedom to use under any Applicable Laws, any other assets (including, but not limited to, intellectual property rights) necessary, customary or desirable to implement the Project in accordance with the Transaction Documents,
(iii) good and marketable title to all assets reflected in its latest audited financial statement, and
(iv) any easement, wayleaves or other rights necessary, in order to implement the Project in accordance with the Transaction Documents; in each case free from Security Interests (other than any Permitted Security Interest), restrictions and onerous covenants.
(d) Any Person (including any Government Authority) shall have initiated any action, suit or proceeding with respect to the Borrower’s right, title and interest in and to the Project.
(e) The Electricity Legislation is amended in a manner which in the opinion of the Senior Agent has or would be likely to result in a Material Adverse Effect.
(f) At any time the Finance Support Rules are no longer in effect with respect to the Borrower or the Senior Finance Parties, and no similar rules satisfactory to the Senior Agent are in place.
Project Events. 17.19.1 The average production level of aluminium from the Grundartangi Aluminium Smelter is less than ninety per cent. (90%) of 89,100 tonnes per annum applied pro rata for a period of thirty consecutive days (excluding from the calculation any reduction in production level which is as a consequence of:
(a) an event of force majeure where any losses and/or liabilities incurred by the Borrower in such circumstances and as a result of such event are covered by Insurances and the Borrower is able to utilise the Insurance Proceeds to fully cover such losses and/or liabilities; or
(b) unavailability of Secondary Power under (and as defined in) the Power Contract), unless the Borrower produces a remedial plan within fifteen days of the end of any such period which is in form and substance satisfactory to the Majority Banks (acting reasonably) and such plan is then implemented in accordance with its terms.
(a) The Borrower ceases to have title to or the right to possess and use the Site; and/or
(b) the Borrower ceases to have title to or the right to possess and/or use any buildings or fixtures on the Site or any easements and wayleaves necessary to implement the Project in accordance with the Documents and such cessation, in the reasonable opinion of the Majority Banks, is likely to have a Material Adverse Effect.
Project Events i. RIT must consult with the CEWH in relation to planned events and offer the CEWH a reasonable opportunity to participate.
Project Events. (a) Any Project Guarantee ceases to be in full force and effect or has otherwise become unenforceable.
(b) The CP Fulfilment Date shall not have occurred by the Longstop Date.
