Common use of Project Management Agreements Clause in Contracts

Project Management Agreements. Any Project management agreement shall permit the Borrower to remove the Project Manager (without penalty) for nonperformance or if the Borrower fails to meet the ratio covenant in Section 6.16 hereof (unless it could be established that causes outside the operator’s control were causing the ratio covenant violation). If the Borrower removes the Project Manager, the Borrower, shall promptly appoint a replacement Project Manager acceptable to the Oversight Agent and the Authority, and pending such appointment, may act as Project Manager on a temporary basis.

Project Management Agreements. Any Project management agreement shall permit the Borrower to remove the Project Manager (without penalty) for nonperformance or if the Borrower fails to meet the ratio rate covenant in Section 6.16 hereof (unless it could be established that causes outside the operator’s control were causing the ratio rate covenant violation). If the Borrower removes the Project Manager, the Borrower, shall promptly appoint a replacement Project Manager acceptable to the Oversight Agent and the Authority, and pending such appointment, may act as Project Manager on a temporary basis.

Project Management Agreements. Any Project project management agreement shall permit the Borrower to remove the Project Manager (without penalty) for nonperformance or if the Borrower fails to meet the ratio covenant in Section 6.16 hereof (unless it could be established that causes outside the operator’s control were causing the ratio covenant violation). If the Borrower removes the Project Manager, the Borrower, shall promptly appoint a replacement Project Manager acceptable to the Oversight Agent and the Authority, and pending such appointment, may act as Project Manager on a temporary basis.