Common use of Proposed Substitute Clause in Contracts

Proposed Substitute. At any time that the Authority is entitled to give a Step-in Notice pursuant to Clause 3.1 (Step-in Notice) or at any time during the Step-in Period the Authority may give notice (copied to the Security Trustee) (a "Proposed Novation Notice") to the Contractor that it wishes itself or another person (a "Proposed Substitute") to assume, by way of sale, transfer or other disposal, the rights and obligations of DBFM Co under the Construction Contract and specifying a date (the "Proposed Novation Date"): falling not later than [fifteen (15)] Business Days after termination of the Design Build Finance and Maintain Agreement where this has been terminated by the Authority; falling not later than the expiry of the Termination Notice where a Proposed Novation Notice is given by the Authority at a time when it is entitled to give a Step-in Notice pursuant to Clause 3.1 (Step-in Notice); and falling not later than [twenty-eight (28)] Business Days after the date of the Proposed Novation Notice, where a Proposed Novation Notice is given during a Step-in Period. Save as provided in Clause 4.4 (Consent Withheld), only one Proposed Novation Notice may be given during the period of this Agreement. Without prejudice to Clauses 3.3 (Restriction of Right of Termination) and 5.1 (Rights of Termination), the Contractor shall not be entitled to terminate the Construction Contract during the notice period specified in a Proposed Novation Notice. If the Proposed Novation Notice specifies the Authority as the Proposed Substitute, the Contractor's consent to the novation shall be deemed to have been given automatically. Where the Proposed Substitute is not the Authority, a novation in accordance with a Proposed Novation Notice shall only be effective if the Contractor consents to that novation in writing in accordance with Clause 4.3 (Grant of Consent) and the Authority shall (as soon as practicable) supply the Contractor with the following information (copied to the Security Trustee): the name and registered address of the Proposed Substitute; the names of the shareholders in the Proposed Substitute and the share capital owned by each of them; the names of the directors and the secretary of the Proposed Substitute; details of the means by which it is proposed to finance the Proposed Substitute (including the extent to which such finance is committed and any conditions precedent as to its availability for drawing); and the resources (including contractual arrangements) which are to be available to the Proposed Substitute to enable it to perform its obligations under the Construction Contract.

Proposed Substitute. At any time that the Authority is entitled to give a Step-in Notice pursuant to Clause 3.1 138.1 (Step-in Notice) or at any time during the Step-in Period the Authority may give notice (copied to the Security Trustee) (a "Proposed Novation Notice") to the Contractor Service Provider that it wishes itself or another person (a "Proposed Substitute") to assume, by way of sale, transfer or other disposal, the rights and obligations of DBFM Project Co under the Construction Service Contract and specifying a date (the "Proposed Novation Date"): falling not later than [fifteen (15)] Business Days after termination of the Design Build Finance and Maintain Agreement where this has been terminated by the Authority; falling not later than the expiry of the Termination Notice where a Proposed Novation Notice is given by the Authority at a time when it is entitled to give a Step-in Notice pursuant to Clause 3.1 138.1 (Step-in Notice); and falling not later than [twenty-eight (28)] Business Days after the date of the Proposed Novation Notice, where a Proposed Novation Notice is given during a Step-in Period. Save as provided in Clause 4.4 159.4 (Consent Withheldwithheld), only one Proposed Novation Notice may be given during the period of this Agreement. Without prejudice to Clauses 3.3 138.3 (Restriction of Right of Termination) and 5.1 140.1 (Rights of Termination), the Contractor Service Provider shall not be entitled to terminate the Construction Service Contract during the notice period specified in a Proposed Novation Notice. If the Proposed Novation Notice specifies the Authority as the Proposed Substitute, the ContractorService Provider's consent to the novation shall be deemed to have been given automatically. Where the Proposed Substitute is not the Authority, a novation in accordance with a Proposed Novation Notice shall only be effective if the Contractor Service Provider consents to that novation in writing in accordance with Clause 4.3 159.3 (Grant of Consent) and the Authority shall (as soon as practicable) supply the Contractor Service Provider with the following information (copied to the Security Trustee): the name and registered address of the Proposed Substitute; the names of the shareholders in the Proposed Substitute and the share capital owned by each of them; the names of the directors and the secretary of the Proposed Substitute; details of the means by which it is proposed to finance the Proposed Substitute (including the extent to which such finance is committed and any conditions precedent as to its availability for drawing); and the resources (including contractual arrangements) which are to be available to the Proposed Substitute to enable it to perform its obligations under the Construction Service Contract.

Proposed Substitute. At any time that the Authority is entitled to give a Step-in Notice pursuant to Clause 3.1 (Step-in Notice) or at any time during the Step-in Period the Authority may give notice (copied to the Security Trustee) (a "Proposed Novation Notice") to the Contractor Service Provider that it wishes itself or another person (a "Proposed Substitute") to assume, by way of sale, transfer or other disposal, the rights and obligations of DBFM Co under the Construction Service Contract and specifying a date (the "Proposed Novation Date"): falling not later than [fifteen (15)] Business Days after termination of the Design Build Finance and Maintain Agreement where this has been terminated by the Authority; falling not later than the expiry of the Termination Notice where a Proposed Novation Notice is given by the Authority at a time when it is entitled to give a Step-in Notice pursuant to Clause 3.1 (Step-in Notice); and falling not later than [twenty-eight (28)] Business Days after the date of the Proposed Novation Notice, where a Proposed Novation Notice is given during a Step-in Period. Save as provided in Clause 4.4 (Consent Withheldwithheld), only one Proposed Novation Notice may be given during the period of this Agreement. Without prejudice to Clauses 3.3 (Restriction of Right of Termination) and 5.1 (Rights of Termination), the Contractor Service Provider shall not be entitled to terminate the Construction Service Contract during the notice period specified in a Proposed Novation Notice. If the Proposed Novation Notice specifies the Authority as the Proposed Substitute, the ContractorService Provider's consent to the novation shall be deemed to have been given automatically. Where the Proposed Substitute is not the Authority, a novation in accordance with a Proposed Novation Notice shall only be effective if the Contractor Service Provider consents to that novation in writing in accordance with Clause 4.3 (Grant of Consent) and the Authority shall (as soon as practicable) supply the Contractor Service Provider with the following information (copied to the Security Trustee): the name and registered address of the Proposed Substitute; the names of the shareholders in the Proposed Substitute and the share capital owned by each of them; the names of the directors and the secretary of the Proposed Substitute; details of the means by which it is proposed to finance the Proposed Substitute (including the extent to which such finance is committed and any conditions precedent as to its availability for drawing); and the resources (including contractual arrangements) which are to be available to the Proposed Substitute to enable it to perform its obligations under the Construction Service Contract.

Proposed Substitute. At any time that the Authority is entitled to give a Step-in Notice pursuant to Clause 3.1 138.1 (Step-in Notice) or at any time during the Step-in Period the Authority may give notice (copied to the Security Trustee) (a "Proposed Novation Notice") to the Contractor that it wishes itself or another person (a "Proposed Substitute") to assume, by way of sale, transfer or other disposal, the rights and obligations of DBFM Project Co under the Construction Contract and specifying a date (the "Proposed Novation Date"): falling not later than [fifteen (15)] Business Days after termination of the Design Build Finance and Maintain Agreement where this has been terminated by the Authority; falling not later than the expiry of the Termination Notice where a Proposed Novation Notice is given by the Authority at a time when it is entitled to give a Step-in Notice pursuant to Clause 3.1 138.1 (Step-in Notice); and falling not later than [twenty-eight (28)] Business Days after the date of the Proposed Novation Notice, where a Proposed Novation Notice is given during a Step-in Period. Save as provided in Clause 4.4 159.4 (Consent Withheld), only one Proposed Novation Notice may be given during the period of this Agreement. Without prejudice to Clauses 3.3 138.3 (Restriction of Right of Termination) and 5.1 140.1 (Rights of Termination), the Contractor shall not be entitled to terminate the Construction Contract during the notice period specified in a Proposed Novation Notice. If the Proposed Novation Notice specifies the Authority as the Proposed Substitute, the Contractor's consent to the novation shall be deemed to have been given automatically. Where the Proposed Substitute is not the Authority, a novation in accordance with a Proposed Novation Notice shall only be effective if the Contractor consents to that novation in writing in accordance with Clause 4.3 139.3 (Grant of Consent) and the Authority shall (as soon as practicable) supply the Contractor with the following information (copied to the Security Trustee): the name and registered address of the Proposed Substitute; the names of the shareholders in the Proposed Substitute and the share capital owned by each of them; the names of the directors and the secretary of the Proposed Substitute; details of the means by which it is proposed to finance the Proposed Substitute (including the extent to which such finance is committed and any conditions precedent as to its availability for drawing); and the resources (including contractual arrangements) which are to be available to the Proposed Substitute to enable it to perform its obligations under the Construction Contract.