Common use of Substitution Notice Clause in Contracts

Substitution Notice. 17.3.1 In the event of failure of the Power Producer to rectify the Event of Default giving rise to Procurer Preliminary Default Notice, the lenders, upon receipt of a written advice from Procurer confirming such failure, either on their own or through its representative (“the Lenders‟ Representative) shall be entitled to notify Procurer and the Power Producer of the intention of the Lenders to substitute the Power Producer by the Selectee, meeting or exceeding eligibility criteria as per PPA or/ and RFP, for the residual period of the PPA (the “Substitution Notice”).

Substitution Notice. 17.3.1 In the event of failure of the Power Producer to rectify the Event of Default giving rise to Procurer Preliminary Default Notice, the lenders, upon receipt of a written advice from Procurer confirming such failure, either on their own or through its representative (“the Lenders‟ Lenders’ Representative) shall be entitled to notify Procurer and the Power Producer of the intention of the Lenders to substitute the Power Producer by the Selectee, meeting or exceeding eligibility criteria as per PPA or/ and RFPRFS, for the residual period of the PPA (the “Substitution Notice”).

Substitution Notice. 17.3.1 In the event of failure of the Power Producer to rectify the Event of Default giving rise to Procurer Preliminary Default Notice, the lenders, upon receipt of a written advice from Procurer confirming such failure, either on their own or through its representative (“the Lenders‟ Lenders’ Representative) shall be entitled to notify Procurer and the Power Producer of the intention of the Lenders to substitute the Power Producer by the Selectee, meeting or exceeding eligibility criteria as per PPA or/ and RFP, for the residual period of the PPA (the “Substitution Notice”).

Substitution Notice. 17.3.1 16.3.1 In the event of failure of the Power Producer to rectify the Event of Default giving rise to Procurer Preliminary Default Notice, the lenders, upon receipt of a written advice from Procurer confirming such failure, either on their own or through its representative (“the Lenders‟ Lenders’ Representative) shall be entitled to notify Procurer and the Power Producer of the intention of the Lenders to substitute the Power Producer by the Selectee, meeting or exceeding eligibility criteria as per PPA or/ and RFP, for the residual period of the PPA (the “Substitution Notice”).