Right to Import; Customs Duties a) The GOP encourages the Company and its Contractors to incorporate as much locally produced material, equipment, and supplies as possible for the design, construction, completion, operation and maintenance of the Complex. Nonetheless, the Company and its Contractors shall be entitled to import prior to the Commercial Operations Date without restriction and exempt from Sales Tax, but subject to the payment of the applicable Customs Duty, not to exceed five percent (5%) on value, determined under the Laws of Pakistan, of imported plant, machinery and equipment not manufactured locally and required for the design, construction, completion, operation and maintenance of the Complex, subject to compliance with any restrictions imposed by the Import Policy Order (SRO 775(I)2006, dated 31st July 2006), as issued from time to time; provided , that, unless all Taxes are paid in full, such imported plant, machinery and equipment shall be used at the Site, in relation to the Project and will not be sold or otherwise transferred to or used by another Person other than the Company or its Contractors.
Right to Import; Customs Duties. The Grantor encourages the Concessionaire and its Contractors to incorporate as much locally produced material, equipment, and supplies as is commercially reasonable for the Concessionaire‟s participation in the Project. Nonetheless, the Concessionaire and its Contractors shall be entitled to import without restriction plant machinery and equipment not manufactured locally, and required for the design, research, engineering, financing, construction, operation, maintenance, and Rehabilitation of the Project Facilities, as the case may be, subject to compliance with any restrictions imposed by the Laws of Montenegro (including payment of applicable Customs Duties and relevant Taxes), provided that such imported plant machinery and equipment shall be used in relation to the Project and will not be sold or otherwise transferred to or used by another Person other than the Concessionaire or its Contractors.
Right to Import; Customs Duties. (a) The GOP encourages the Seller and its Contractors to incorporate as much locally produced material, equipment, and supplies as possible for the design, construction, completion, operation and maintenance of the Complex. Nonetheless, the Seller and its Contractors shall be entitled to import without any restriction, and exempt from Customs Duty and Sales Tax, to import plant, machinery and equipment not manufactured locally, spare parts and replacements required for the design, construction, completion, operation, repair and maintenance of the Complex, subject to compliance with any restrictions imposed and benefits extended by the statutory revisionary order (SRO) 575 (I) 2006, dated 5th June 2006, (as amended from time to time and including subsequent circulars issued pursuant thereto) provided, that such imported plant, machinery and equipment, spare parts and replacements shall be used at the Site, in relation to the Project and will not be sold or otherwise transferred to or used by another Person other than the Seller or its Contractors, or Lenders as a result of enforcement of security, provided further, that any amendment, revocation or substitution of (SRO) 575 (I) 2006, dated 5th June 2006, resulting in the withdrawal of exemption from Customs Duty or Sales Implementation Agreement 27 Tax shall not constitute a Change in Law or give rise to a breach or default of the GOP hereunder so long as such withdrawal of exemption results in (A) a Change in Tax as provided in Section 14.4 and Schedule 1 to the Energy Purchase Agreement, or (B) as allowed by NEPRA within one hundred and twenty (120) Days of an application being filed by the Seller with NEPRA for modification of the Tariff to permit pass-through of the Customs Duties and Sales Tax.
Right to Import; Customs Duties. (a) The GOP encourages the Seller and its Contractors to incorporate as much locally produced material, equipment, and supplies as possible for the design, construction, completion, operation and maintenance of the Complex. Nonetheless, the Seller and its Contractors shall be entitled to import without restriction and, shall be exempt from (or shall enjoy a reduced rate of) Customs Duty and Sales Tax on, plant, machinery, equipment and spare parts, and replacements therefor required for the design, construction, completion, operation, repair and maintenance of the Complex as provided in the [Finance Act, 2014, the Fifth Schedule to the Customs Act, 1969 and the Sixth Schedule to the Sales Tax Act, 1990]7 (as each is in effect on the date hereof) and any other item or items of plant, equipment or machinery that are incorporated into the Complex or whose use is dedicated to the operation and/or maintenance of the Complex as confirmed by the AEDB and by the Federal Board of Revenue, subject to the conditions and compliance with any additional requirements and restrictions (including, to the extent applicable, relating to locally manufactured items) imposed and benefits extended by the Finance Act, 2014, the Fifth Schedule to the Customs Act, 1969 and the Sixth Schedule to the Sales Tax Act, 1990 (as each may be amended, modified, replaced or substituted from time to time, and including subsequent notifications and circulars issued pursuant thereto); provided, that such imported plant, machinery and equipment, spare parts and replacements shall be dedicated for use by the Project and located at the Site, and will not be used for any purpose other than the Project or sold or otherwise transferred to any Person other than the Lenders or their designee as a result of enforcement of security; and provided, further, that any amendment, modification, replacement or substitution of the applicable provisions of the [Finance Act, 2014, the Customs Act or Sales Tax Act] that results in the withdrawal of exemption from or loss of the preferential rate of Customs Duty or Sales Tax shall not give rise to a breach or a GOP default hereunder so long as such withdrawal of exemption or loss of the preferential rate results in (i) a Change in Tax as provided in Section 14.4 and Schedule 1 to the Energy Purchase Agreement or (ii) is allowed by NEPRA within one hundred and twenty (120) Days of the Seller’s application being filed with NEPRA for modification of the Reference Tarif...
Right to Import; Customs Duties. (a) The GOP encourages the Seller and its Contractors to incorporate as much locally produced material, equipment, and supplies as possible for the design, construction, completion, operation and maintenance of the Complex. Nonetheless, the Seller and its Contractors shall be entitled to import without restriction and, shall be exempt from (or shall enjoy a reduced rate of) Customs Duty and Sales Tax on, plant, machinery, equipment and spare parts, and replacements therefor required for the design, construction, completion, operation, repair and maintenance of the Complex as provided in the [Finance Act, 2014, the Fifth Schedule to the Customs Act, 1969 and the Sixth Schedule to the Sales Tax Act, 1990]7 (as each is in effect on the date hereof) and any other item or items of plant, equipment or machinery that are incorporated into the Complex or whose use is dedicated to the operation and/or maintenance of the Complex as confirmed by the AEDB and by the Federal Board of Revenue, subject to the conditions and compliance with any additional requirements and restrictions (including, to the extent applicable, relating to locally manufactured items) imposed and benefits extended by the Finance Act, 2014, the Fifth Schedule to the Customs Act, 1969 and the Sixth Schedule to the Sales Tax Act, 1990 (as each may be amended, modified, replaced or substituted from time to time, and including subsequent notifications and circulars issued pursuant thereto); provided, that such imported plant, machinery and equipment, spare parts and replacements shall be dedicated for use by the Project and located at the Site, and will not be used for any purpose other than the 6 Latest status to be confirmed at the time of execution of the IA.
Right to Import; Customs Duties in respect of such items of plant, equipment, spare parts and machinery. The GOP shall, at the request of the Seller, use its reasonable endeavours to expedite the issuance of any Seller Consent required for the export and re-import of such machinery and equipment. FOREIGN CURRENCY EXCHANGE AND TRANSFER OF FUNDS
