Common use of Single Purpose Private Party - No Subsidiaries Clause in Contracts

Single Purpose Private Party - No Subsidiaries. 3.3.1 The Private Party shall be a single purpose incorporated juristic person or unincorporated joint venture or trust, with the sole purpose of implementing this Project or this Project and Other Thesens Island Projects and the Private Party shall not assume any liability other than in connection with this Project, and in the event of also undertaking Other Thesens Island Projects, also in respect of these. The Memorandum and Articles of Association or founding statutes or Joint Venture Agreement or Trust Deed of the Private Party shall include a provision to such effect.

Single Purpose Private Party - No Subsidiaries. 3.3.1 The Private Party shall be a single purpose incorporated juristic person or unincorporated joint venture or trust, with the sole purpose of implementing this Project or this Project and Other Thesens Island Projects or, exceptionally, more than one similar project in the National Parks system as SANParks may agree to in writing and the Private Party shall not assume any liability other than in connection with this Project, and in the event of also undertaking Other Thesens Island Projects, also in respect of these. The Memorandum and Articles of Association or founding statutes or Joint Venture Agreement or Trust Deed of the Private Party shall include a provision to such effect.