Common use of STIPULATIONS FOR THE BENEFIT OF THE LENDERS Clause in Contracts

STIPULATIONS FOR THE BENEFIT OF THE LENDERS. The Parties agree that the provisions of this PPP Agreement that refer to the Lenders comprise stipulations for the benefit of the Lenders and that the Lenders may at any time accept such stipulations in their favour provided that they accept the obligations imposed upon them in terms of this PPP Agreement and provide the Parties with their addresses for notices. Upon receipt of acceptance by the Lenders of the rights and obligations imposed upon them in this PPP Agreement, the Lenders shall be bound by the provisions of this PPP Agreement that relate to them. The Lenders’ consent shall be required in respect of any variation or amendment to any provision of this PPP Agreement that directly confers rights and/or imposes obligations on the Lenders or that reduces the Project Term and such consent may not unreasonably be withheld. Execution on behalf of SANParks: SIGNED AT XXXXXXXX XX 0000. For and on behalf of SOUTH AFRICAN NATIONAL PARKS who warrants his authority hereto Execution on behalf of the Private Party: SIGNED AT …………………… ON 2009. For and on behalf of the PRIVATE PARTY who warrants his authority hereto

STIPULATIONS FOR THE BENEFIT OF THE LENDERS. The Parties agree that the provisions of this PPP Agreement that refer to the Lenders comprise stipulations for the benefit of the Lenders and that the Lenders may at any time accept such stipulations in their favour provided that they accept the obligations imposed upon them in terms of this PPP Agreement and provide the Parties with their addresses for notices. Upon receipt of acceptance by the Lenders of the rights and obligations imposed upon them in this PPP Agreement, the Lenders shall be bound by the provisions of this PPP Agreement that relate to them. The Lenders’ consent shall be required in respect of any variation or amendment to any provision of this PPP Agreement that directly confers rights and/or imposes obligations on the Lenders or that reduces the Project Term and such consent may not unreasonably be withheld. Execution on behalf of SANParks: SIGNED AT XXXXXXXX XX 0000. For and on behalf of SOUTH AFRICAN NATIONAL PARKS who warrants his authority hereto Execution on behalf of the Private Party: SIGNED AT …………………… ON 2009. For and on behalf of the PRIVATE PARTY who warrants his authority heretoPARTY