Substitution Process. While carrying out substitution, the Lender’s Representative or the Authority, as the case may be, shall invite competitive bids from the prospective parties for acting as the Nominated Company and substituting the Concessionaire. Such Nominated Company shall have to agree to bear all the liabilities of the Concessionaire in terms of this Agreement and Financing Agreement.
Substitution Process. While carrying out substitution, the Lender’s Representative or Maha-Metro, as the case may be, shall invite competitive bids from the prospective parties for acting as the Nominated Company and substituting the Concessionaire. The financial bidding criteria for the bid shall be a Substitution Premium to be paid by the Nominated Company as a consideration to Maha-Metro. The Substitution Premium shall be in addition to the Nominated Company agreeing to bear all the liabilities of the Concessionaire in terms of the Agreement, Financing Agreement, Letter of Allotment/Sub-Leasing Agreements and sub-contracts with the Sub-Contractors, and which shall include but not be limited to overdue and future payments towards taxes to be paid to any Government (State Govt. and Central Government), Premium to be paid to Maha-Metro, Annual Concession Fees to be paid to Maha-Metro, repayment or refunds to third parties, liquidated damages to be paid to Maha-Metro, payment to Sub- Contractors relating to the Project, expenses incurred and claims by Maha-Metro on the Project due to the Concessionaire Default in terms of the Agreement to be paid to Maha-Metro, servicing of Debt Due to the Lenders etc. Moreover, as part of the condition of bidding, the Nominated Company shall be required to invest an additional minimum amount in the Project within 30 days of its appointment as the Nominated Company to clear all overdue amounts in respect of payments specified here above.
Substitution Process. § 3.3.2.1 Written requests for substitutions shall be received by the Architect at least ten days prior to the date for receipt of Bids. Requests shall be submitted in the same manner as that established for submitting clarifications and interpretations in Section 3.2.2.
§ 3.3.2.2 Bidders shall submit substitution requests on a Substitution Request Form if one is provided in the Bidding Documents.
Substitution Process. Any request of the Design-Builder to substitute a listed Subcontractor will be considered by the County only if such request is in strict conformity with this Paragraph 5.1 and California Public Contract Code Section 4107. All costs and fees, including all costs of the hearing, incurred by the County in the review and evaluation of a request to substitute a listed Subcontractor shall be borne by the Design-Builder; such costs and fees may be deducted by the County from the Contract Sum then or thereafter due the Design-Builder. For purposes of a hearing for the substitution of subcontractors (pursuant to the Public Contract Code commencing with Section 4100) the awarding authority shall be the Director of the San Bernardino County Architecture and Engineering Department, or his/her designee.
Substitution Process. Any request of the Contractor to substitute a listed Subcontractor will be considered only if such request is in strict conformity with this Article 5.2 and California Public Contract Code §4107. All costs incurred by the District, including without limitation, costs of the Architect and the Owner’s Project Manager or attorneys’ fees in the review and evaluation of a request to substitute a listed Subcontractor shall be borne by the Contractor; such costs may be deducted by the District from the Contract Sum then or thereafter due the Contractor.
Substitution Process. Responsibilities of Contractor Upon Substitution of Subcontractor.
Substitution Process.
4.1 A Substitution Agreement shall be entered into in respect of a Relevant Eurosystem Operation by the Bank and the Counterparty agreeing (which agreement may be entered into orally or in writing) the following:
(a) Relevant Eurosystem Operation;
(b) Relevant Substitution Date;
(c) Substituted Liquidity Amount;
(d) Existing Transaction; and
(e) Substitution Transaction Structure.
4.2 For the avoidance of doubt, the Bank shall not enter into a Substitution Agreement unless:
(a) it is established to the Bank’s satisfaction that neither the taking effect of that Substitution Agreement and the related Substitution Transaction, nor any related modification or replacement, as applicable, of the Existing Transaction, would cause the Counterparty to breach any contractual obligation binding on it pursuant to the Transaction Documentation; and
(b) where the Existing Transaction is a MBPN, the Bank is the sole Beneficiary of the MBPN on the Substitution Date.
4.3 The Counterparty shall, in respect of any Substitution Agreement or proposed Substitution Agreement, comply with any related procedures from time to time provided for in the MPIPs Document, whether in respect of any:
(a) such Substitution Agreement or proposed Substitution Agreement, as applicable;
(b) related Substitution Transaction or Balancing Transaction, subject to any modifications to those procedures expressly provided for in this Agreement.
4.4 Where the Substitution Transaction Structure is a Promissory Note, or the Substitution Agreement involves the issue of a Balancing Note, the Counterparty shall, prior to the agreement referred to at clause 4.1, unless otherwise notified by the Bank and regardless of whether it is required pursuant to the Substitution Transaction Documentation, provide to the Bank an authorisation in respect of the completion of the relevant Substitution Note or Balancing Note, as applicable (in respect thereof, the “Authorisation”). Such Authorisation shall:
(a) be in the form set out in Appendix A or such other form as the Bank notifies to the Counterparty from time to time;
(b) comply with any requirements in respect of the terms of the relevant Balancing Note or Substitution Note, as applicable, provided for in clause 5.1(b) or, as applicable, clause 6.1; and
(c) be given by e-mail or fax (or such other means as may be notified by the Bank to the Counterparty from time to time), and, without prejudice to the generality of clause 4.6, this clause 4.4 shall replace any a...
Substitution Process. Any request of the Contractor to substitute a listed Subcontractor will be considered only if such request is in strict conformity with this Article 5.2
Substitution Process. Any request of Design-Builder to substitute a listed Subcontractor will be considered by City only if such request is in strict conformity with this Paragraph 6.1 and California Public Contract Code § 4107. All costs and fees incurred by City in the review and evaluation of a request to substitute a listed subcontractor shall be borne by Design-Builder. Such costs and fees may be deducted by City from the Contract Price then or thereafter due Design-Builder.
Substitution Process. Any request of Design-Builder to substitute a listed Subcontractor will be considered by City only if such request is in strict conformity with this Paragraph 6.1
