Common use of Restriction of Right of Termination Clause in Contracts

Restriction of Right of Termination. the Construction 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 Construction 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 Construction Contractor consents to that novation in writing in accordance with Clause 4.3 (Grant of Consent) and Clause 5.1 (Rights of Termination) and the Authority shall (as soon as practicable) supply the Construction Contractor with the following information: 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.

Restriction of Right of Termination. and 5.1 (Rights of Termination), the Construction 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 Construction 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 Construction Contractor Service Provider consents to that novation in writing in accordance with Clause 4.3 (Grant of Consent) and Clause 5.1 (Rights of Termination) and the Authority shall (as soon as practicable) supply the Construction Contractor Service Provider with the following information: 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.

Restriction of Right of Termination. and 5.1 (Rights of Termination), the Construction 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 Construction 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 Construction Contractor consents to that novation in writing in accordance with Clause 4.3 (Grant of Consent) and Clause 5.1 (Rights of Termination) and the Authority shall (as soon as practicable) supply the Construction Contractor with the following information: 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.