Remedies for GOB Nonperformance. (a) If the Company and its Contractors have complied and are in compliance with Section 4.1 and Section 4.2 and any of the Consents specified in Schedule 1 - Part 1-B is not received within sixty (60) Days following the filing of the application that materially and adversely affect the Company’s ability to perform its obligations under any document within the Security Package (despite the Company’s compliance with the applicable procedural and substantive requirements of the Consent or the application therefor), the Required Commercial Operations Date shall be extended on a Day-for-Day basis for each Day that any such Consent or Consents cease to remain in full force or effect or continue to be subject to any such material adverse terms or conditions (despite compliance with the applicable procedural and substantive requirements of such Consent or Consents) following the expiration of the sixty (60) Day period, as the case may be: Provided, that during any period where more than one (1) Consent remains outstanding (following the end of the sixty (60) Day period), the Company shall be entitled to only one (1) Day of extension for each one (1) Day in such period. For the purposes of this Section 4.5(a) the references to “Consent or Consents remains outstanding” shall be deemed to include any Consent or Consents not issued or renewed and, following issuance, any Consent or Consents ceasing to remain in full force and effect or made subject to any terms or conditions that materially and adversely affect the Company’s ability to perform its obligations under any document within the Security Package (despite the Company’s compliance with the applicable procedural and substantive requirements of the Consent or the application thereof).
Appears in 5 contracts
Samples: Implementation Agreement, Implementation Agreement, Implementation Agreement
