Suspension Notice. [NTD: To be included only in the Design-Build Collateral Agreement and only if such agreement contains rights for the Design-Builder to suspend its performance thereof.] The Material Project Contractor will not exercise any right it may have under the Material Contract to temporarily suspend its performance thereunder, unless: (a) the Material Project Contractor first delivers a notice (a “Suspension Notice”) to the Authority detailing the event that has occurred that entitles it to exercise such right and stating that it intends to exercise such right, together with details of any sums which are due and payable but unpaid by Project Co and of any other material obligations or liabilities which should have been performed or discharged by Project Co under the Material Contract, in each case as at the date of such Suspension Notice; and (b) both: (1) the Material Project Contractor has confirmed in writing to the Authority that the Senior Lenders have not agreed to pay the Material Project Contractor in accordance with the Material Contract for work performed by it during the period commencing on the date (the “Suspension Date”) when it, but for the provisions of this Section, would have been entitled to suspend its performance under the Material Contract [and ending no sooner than ▼]; and (2) within 5 Business Days of receipt of confirmation from the Material Project Contractor pursuant to Section 2.3(b)(1), the Authority has not agreed, by written notice to the Material Project Contractor, to pay the Material Project Contractor in accordance with the Material Contract for work performed by it during the period (the “No Suspension Period”) commencing on the Suspension Date and ending on the earliest to occur of: (A) the date on which the Senior Lenders exercise any of their step-in or transfer rights pursuant to and in accordance with, respectively, Section 4 or Section 6 of the Lenders’ Remedies Agreement; (B) the date from which the Senior Lenders agree to pay the Material Project Contractor as contemplated under Section 2.3(b)(1); and (C) the Step-in Date. except that, if the Authority provides a written notice to the Material Project Contractor pursuant to Section 2.3(b)(2) and thereafter fails to make payment to the Material Project Contractor of any undisputed amount payable pursuant to and in accordance with the Material Contract for work performed by the Material Project Contractor during the No Suspension Period, the No Suspension Period will terminate and the Material Project Contractor may thereafter exercise any right it may have to temporarily suspend its performance under the Material Contract
Appears in 4 contracts
Samples: Material Project Contractor Collateral Agreement, Material Project Contractor Collateral Agreement, Material Project Contractor Collateral Agreement
Suspension Notice. [NTD: To be included only Licensee shall notify Licensor immediately upon learning of the occurrence of any Security Breach or Territorial Breach, and shall provide Licensor with specific information describing the nature and extent of such occurrence. Licensor shall have the right to suspend the availability (“Suspension”) of the Included Programs on the SVOD Service at any time during the Avail Term in the Design-Build Collateral Agreement and only if such agreement contains rights for the Design-Builder to suspend its performance thereof.] The Material Project Contractor will not exercise any right it may have under the Material Contract to temporarily suspend its performance thereunder, unless:
(a) the Material Project Contractor first delivers event of a Security Breach or Territorial Breach by delivering a notice to Licensee of such suspension (a “Suspension Notice”). Upon receipt of a Suspension Notice, Licensee shall take steps immediately to remove the Included Programs or make the Included Programs inaccessible from the SVOD Service as soon as commercially feasible (but in no event more than three (3) calendar days after receipt of such notice). The parties acknowledge that a Suspension pursuant to this Clause 9.2 may be occasioned in the Authority detailing absence of a Licensee Event of Default (e.g., in the event the DRM is hacked through no fault of Licensee), and that has occurred that entitles it in such event, (i) no further rights or obligations shall accrue on the part of either party after such a Suspension with regard to exercise such right Suspension [#As per previously agreed clause.], (ii) Licensor shall not discriminate against Licensee with respect to initiating Suspension as compared to other distributors of Licensor’s content, and stating that it intends (iii) Licensor shall refund to exercise Licensee or credit against Licensee payables, at Licensee’s option and within thirty (30) calendar days of the date such rightSuspension, together with details a prorated amount of any sums which are due and payable but unpaid by Project Co and all License Fees paid to Licensor, such pro rata amount to be calculated as of any other material obligations or liabilities which should have been performed or discharged by Project Co under the Material Contract, in each case as at the date of such Suspension Notice; and
. [#Consider accepting part added in green which I have for now deleted.] Reinstatement/Termination. If the cause of the Security Flaw that gave rise to a Suspension is corrected, repaired, solved or otherwise addressed in the sole judgment of Licensor, the Suspension shall terminate upon Licensor’s delivery to Licensee of a notice thereof (b“Reinstatement Notice”) both:
(1) and Licensor’s obligation to make the Material Project Contractor Included Programs available on the SVOD Service shall resume. For clarity, no period of Suspension shall extend the Avail Term in time, and upon a notice that a Suspension has confirmed in writing ended, the Avail Term shall end as otherwise provided herein. As soon as practicable after the delivery of a Reinstatement Notice to Licensee, Licensee may include the Included Programs on the SVOD Service. If more than two Suspensions occur during the Avail Term for any reason under any provision of this Agreement, or any single Suspension lasts for a period of three months or more, Licensor shall have the right, but not the obligation, to terminate this Agreement by providing written notice of such election to the Authority Licensee. [#As per previously agreed clause.], provided that the Senior Lenders have not agreed Licensor shall refund to pay the Material Project Contractor in accordance with the Material Contract for work performed by it during the period commencing on Licensee or credit against Licensee payables, at Licensee’s option and within thirty (30) calendar days of the date (the “Suspension Date”) when itsuch termination, but for the provisions a prorated amount of this Sectionall License Fees paid to Licensor, would have been entitled such pro rata amount to suspend its performance under the Material Contract [and ending no sooner than ▼]; and
(2) within 5 Business Days be calculated as of receipt of confirmation from the Material Project Contractor pursuant to Section 2.3(b)(1), the Authority has not agreed, by written notice to the Material Project Contractor, to pay the Material Project Contractor in accordance with the Material Contract for work performed by it during the period (the “No Suspension Period”) commencing on the Suspension Date and ending on the earliest to occur of:
(A) the date on which the Senior Lenders exercise any of their step-in or transfer rights pursuant to and in accordance with, respectively, Section 4 or Section 6 of the Lenders’ Remedies Agreement;
(B) expiration of the date from which the Senior Lenders agree to pay the Material Project Contractor as contemplated under Section 2.3(b)(1); and
(C) the Step-in Date. except that, if the Authority provides a written notice to the Material Project Contractor pursuant to Section 2.3(b)(2) and thereafter fails to make payment to the Material Project Contractor of any undisputed amount payable pursuant to and in accordance with the Material Contract for work performed by the Material Project Contractor during the No Suspension Period, the No Suspension Period will terminate and the Material Project Contractor may thereafter exercise any right it may have to temporarily suspend its performance under the Material Contractrelevant cure period.
Appears in 2 contracts
Samples: Subscription Video on Demand License Agreement, Subscription Video on Demand License Agreement
Suspension Notice. [NTD: To be included only in the Design-Build Collateral Agreement and only if such agreement contains rights for the The Design-Builder to suspend its performance thereof.] The Material Project Contractor will not exercise any right it may have under the Material Contract Design-Build Agreement to temporarily suspend its performance thereunder, unless:
(a) the Material Project Contractor Design-Builder first delivers a notice (a “Suspension Notice”) to the Authority detailing the event that has occurred that entitles it to exercise such right and stating that it intends to exercise such suspension right, together with details of any sums which are due and payable but unpaid by Project Operations Co and of any other material obligations or liabilities which should have been performed or discharged by Project Operations Co under the Material ContractDesign-Build Agreement, in each case as at the date of such Suspension Notice; and
(b) both:
(1) the Material Project Contractor Design-Builder has confirmed in writing to the Authority that the Senior Lenders Secured Creditors have not agreed to pay the Material Project Contractor Design-Builder in accordance with the Material Contract Design-Build Agreement for work performed by it during the period commencing on the date (the “Suspension Date”) when it, but for the provisions of this SectionSection 2.3, would have been entitled to suspend its performance under the Material Contract [Design-Build Agreement and ending no sooner than ▼]45 days after the Suspension Date; and
(2) within 5 Business Days of receipt of confirmation from the Material Project Contractor Design-Builder pursuant to Section 2.3(b)(1), the Authority has not agreed, by written notice to the Material Project ContractorDesign-Builder, to pay the Material Project Contractor Design-Builder in accordance with the Material Contract Design-Build Agreement for work performed by it during the period (the “No Suspension Period”) commencing on the Suspension Date and ending on the earliest to occur of:
(A) the date on which the Senior Lenders Secured Creditors exercise any of their step-in or transfer rights pursuant to and in accordance with, respectively, Section 4 or Section 6 of the Lenders’ Remedies Agreement;
(B) the date from which the Senior Lenders Secured Creditors agree to pay the Material Project Contractor Design-Builder as contemplated under Section 2.3(b)(1); and
(C) the Step-in In Date. , except that, if the Authority provides a written notice to the Material Project Contractor Design-Builder pursuant to Section 2.3(b)(2) and thereafter fails to make payment to the Material Project Contractor Design- Builder of any undisputed amount payable pursuant to and in accordance with the Material Contract Design-Build Agreement for work performed by the Material Project Contractor Design-Builder during the No Suspension Period, the No Suspension Period will terminate and the Material Project Contractor Design- Builder may thereafter exercise any right it may have to temporarily suspend its performance under the Material ContractDesign-Build Agreement.
Appears in 2 contracts
Samples: Lenders’ Remedies Agreement, Assignment of Master Agreement
Suspension Notice. [NTD: To be included only in the Design-Build Collateral Agreement and only if such agreement contains rights for the Design-Builder to suspend its performance thereof.] The Material Project Contractor will not exercise any right it may have under the Material Project Contract to temporarily suspend its performance thereunder, unless:
(a) the Material Project Contractor first delivers a notice (a “Suspension Notice”) to the Authority City detailing the event that has occurred that entitles it to exercise such right and stating that it intends to exercise such right, together with details of any sums which are due and payable but unpaid by Project Co and of any other material obligations or liabilities which should have been performed or discharged by Project Co under the Material Project Contract, in each case as at the date of such Suspension Notice; and
(b) both:
(1i) the Material Project Contractor has confirmed in writing to the Authority City that the Lenders’ Agent or a Senior Lenders Lender, as applicable, have not agreed to pay the Material Project Contractor in accordance with the Material Project Contract for work performed by it during the period commencing on the date (the “Suspension Date”) when it, but for the provisions of this SectionSection 2.3 [Suspension Notice], would have been entitled to suspend its performance under the Material Contract [and ending no sooner than ▼]Project Contract; and
(2ii) within 5 Business Days of receipt of confirmation from the Material Project Contractor pursuant to Section 2.3(b)(12.3(b)(i), the Authority City has not agreed, by written notice to the Material Project ContractorContractor (a “Project Contractor Suspension Notice”), to pay the Material Project Contractor in accordance with the Material Project Contract for work performed by it during the period (the “No Suspension Period”) commencing on the Suspension Date and ending on the earliest to occur of:
(A) the date on which the Senior Lenders exercise Lenders’ Agent exercises any of their its step-in or transfer rights pursuant to and in accordance with, respectively, Section 4 [Step-In] or Section 6 [Senior Lender Replacement of Project Co] of the Lenders’ Remedies Direct Lender Agreement;
(B) the date from which the Lenders’ Agent or a Senior Lenders Lender, as applicable, agree to pay the Material Project Contractor as contemplated under Section 2.3(b)(12.3(b)(i); and
(C) the Step-in Step‑in Date. , except that, if the Authority City provides a written notice Project Contractor Suspension Notice to the Material Project Contractor pursuant to Section 2.3(b)(2) and thereafter fails to make payment to the Material Project Contractor of any undisputed amount payable pursuant to and in accordance with the Material Project Contract for work performed by the Material Project Contractor during the No Suspension Period, the No Suspension Period will terminate and the Material Project Contractor may thereafter exercise any right it may have to temporarily suspend its performance under the Material Project Contract.
Appears in 1 contract
Samples: Project Agreement
Suspension Notice. [NTD: To be included only in the Design-Build Collateral Agreement and only if such agreement contains rights for the Design-Builder to suspend its performance thereof.] The Material Project Contractor Contract Party will not exercise any right it may have under the Material Contract to temporarily suspend its performance thereunder, unless:
(a) the Material Project Contractor Contract Party first delivers a notice (a “Suspension Notice”) to the Authority Province detailing the event that has occurred that entitles it to exercise such right and stating that it intends to exercise such right, together with details of any sums which are due and payable but unpaid by Project Co and of any other material obligations or liabilities which should have been performed or discharged by Project Co under the Material Contract, in each case as at the date of such Suspension Notice; and
(b) both:
(1) the Material Project Contractor Contract Party has confirmed in writing to the Authority Province that the Senior Lenders have not agreed to pay the Material Project Contractor Contract Party in accordance with the Material Contract for work performed by it during the period commencing on the date (the “Suspension Date”) when it, but for the provisions of this Section, would have been entitled to suspend its performance under the Material Contract [and ending no sooner than ▼]; and
(2) within 5 five Business Days of receipt of confirmation from the Material Project Contractor Contract Party pursuant to Section 2.3(b)(1), the Authority Province has not agreed, by written notice to the Material Project ContractorContract Party, to pay the Material Project Contractor Contract Party in accordance with the Material Contract for work performed by it during the period Abbotsford Law Courts Project CAN: 27452030.1 (the “No Suspension Period”) commencing on the Suspension Date and ending on the earliest to occur of:
(A) the date on which the Senior Lenders exercise any of their step-in or transfer rights pursuant to and in accordance with, respectively, Section 4 or Section 6 of the Lenders’ Remedies Agreement;
(B) the date from which the Senior Lenders agree to pay the Material Project Contractor Contract Party as contemplated under Section 2.3(b)(1); and
(C) the Step-in Date. except that, if the Authority Province provides a written notice to the Material Project Contractor Contract Party pursuant to Section 2.3(b)(2) and thereafter fails to make payment to the Material Project Contractor Contract Party of any undisputed amount payable pursuant to and in accordance with the Material Contract for work performed by the Material Project Contractor Contract Party during the No Suspension Period, the No Suspension Period will terminate and the Material Project Contractor Contract Party may thereafter exercise any right it may have to temporarily suspend its performance under the Material Contract.
Appears in 1 contract
Suspension Notice. [NTD: To be included only in the Design-Build Collateral Agreement and only if such agreement contains rights for the Design-Builder to suspend its performance thereof.] The Material Project Contractor will not exercise any right it may have under the Material Contract to temporarily suspend its performance thereunder, unless:
(a) the Material Project Contractor first delivers a notice (a “Suspension Notice”) to the Authority detailing the event that has occurred that entitles it to exercise such right and stating that it intends to exercise such right, together with details of any sums which are due and payable but unpaid by Project Co and of any other material obligations or liabilities which should have been performed or discharged by Project Co under the Material Contract, in each case as at the date of such Suspension Notice; and
(b) both:
(1) the Material Project Contractor has confirmed in writing to the Authority that the Senior Lenders have not agreed to pay the Material Project Contractor in accordance with the Material Contract for work performed by it during the period commencing on the date (the “Suspension Date”) when it, but for the provisions provisions of this Section, would have been entitled to suspend its performance under the Material Contract [and ending no sooner than ▼]; and
(2) within 5 Business Days of receipt of confirmation from the Material Project Contractor pursuant to Section 2.3(b)(1), the Authority has not agreed, by written notice to the Material Project Contractor, to pay the Material Project Contractor in accordance with the Material Contract for work performed by it during the period (the “No Suspension Period”) commencing on the Suspension Date and ending on the earliest to occur of:of:
(A) the date on which the Senior Lenders exercise any of their step-in or transfer rights pursuant to and in accordance with, respectively, Section 4 or Section 6 of the Lenders’ Remedies Agreement;
(B) the date from which the Senior Lenders agree to pay the Material Project Contractor as contemplated under Section 2.3(b)(1); and
(C) the Step-in Date. , except that, if the Authority provides a written notice to the Material Project Contractor pursuant to Section 2.3(b)(2) and thereafter fails to make payment to the Material Project Contractor of any undisputed amount payable pursuant to and in accordance with the Material Contract for work performed by the Material Project Contractor during the No Suspension Period, the No Suspension Period will terminate and the Material Project Contractor may thereafter exercise any right it may have to temporarily suspend its performance under the Material Contract.
Appears in 1 contract
Suspension Notice. [NTD: To be included only in the Design-Build Collateral Agreement and only if such agreement contains rights for the Design-Builder to suspend its performance thereof.] The Material Project Contractor will not exercise any right it may have under the Material Contract to temporarily suspend its performance thereunder, unless:
(a) the Material Project Contractor first delivers a notice (a “Suspension Notice”) to the Authority detailing the event that has occurred that entitles it to exercise such right and stating that it intends to exercise such right, together with details of any sums which are due and payable but unpaid by Project Co and of any other material obligations or liabilities which should have been performed or discharged by Project Co under the Material Contract, in each case as at the date of such Suspension Notice; and
(b) both:
(1) the Material Project Contractor has confirmed in writing to the Authority that the Senior Lenders have not agreed to pay the Material Project Contractor in accordance with the Material Contract for work performed by it during the period commencing on the date (the “Suspension Date”) when it, but for the provisions of this Section, would have been entitled to suspend its performance under the Material Contract [and ending no sooner than ▼]Contract; and
(2) within 5 Business Days of receipt of confirmation from the Material Project Contractor pursuant to Section 2.3(b)(1), the Authority has not agreed, by written notice to the Material Project Contractor, to pay the Material Project Contractor in accordance with the Material Contract for work performed by it during the period (the “No Suspension Period”) commencing on the Suspension Date and ending on the earliest to occur of:
(A) the date on which the Senior Lenders exercise any of their step-in or transfer rights pursuant to and in accordance with, respectively, Section 4 or Section 6 of the Lenders’ Remedies Agreement;
(B) the date from which the Senior Lenders agree to pay the Material Project Contractor as contemplated under Section 2.3(b)(1); and
(C) the Step-in Date. , except that, if the Authority provides a written notice to the Material Project Contractor pursuant to Section 2.3(b)(2) and thereafter fails to make payment to the Material Project Contractor of any undisputed amount payable pursuant to and in accordance with the Material Contract for work performed by the Material Project Contractor during the No Suspension Period, the No Suspension Period will terminate and the Material Project Contractor may thereafter exercise any right it may have to temporarily suspend its performance under the Material Contract
Appears in 1 contract
Suspension Notice. [NTD: To be included only Licensee shall notify Licensor in writing promptly upon learning of the occurrence of any Security Breach or Territorial Breach, and shall provide Licensor with reasonable, non-proprietary information describing the nature and extent of such occurrence. Licensor shall have the right to suspend the availability (“Suspension”) of one or more Included Programs from the applicable transmission means on the Licensed Service (the “Implicated Platform”) at any time during the Term in the Design-Build Collateral Agreement and only if event of a Security Breach or Territorial Breach which remains unresolved for a period of greater than fifteen (15) days by delivering a written notice to Licensee of such agreement contains rights for the Design-Builder to suspend its performance thereof.] The Material Project Contractor will not exercise any right it may have under the Material Contract to temporarily suspend its performance thereunder, unless:
Suspension (a) the Material Project Contractor first delivers a notice (a “Suspension Notice”) ), provided Licensor imposes any such Suspension on a non-discriminatory basis. A Suspension Notice may relate to any Included Programs affected by such Security Breach or Territorial Breach, but only with respect to such programs’ exhibition on the Implicated Platform. Upon its receipt of a Suspension Notice, Licensee shall take commercially reasonable steps to promptly cease exhibiting such affected Included Programs via the Implicated Platform as soon as commercially feasible (but in no event more than three Business Days after receipt of such notice). A Suspension shall suspend for the length of its duration Licensee’s exhibition and channel commitments with respect to the Authority detailing Implicated Platform. Reinstatement/Termination. If the event cause of the Security Breach that gave rise to a Suspension is corrected, repaired, solved or otherwise addressed, the Suspension shall terminate upon Licensor’s delivery to Licensee of a notice thereof (“Reinstatement Notice”) and Licensee’s rights and obligation with respect to any Included Programs affected by such Suspension shall promptly resume. For clarity, no period of Suspension shall extend any License Period or the Term in time, and upon a notice that a Suspension has occurred that entitles it ended, the Term shall end as otherwise provided in the Agreement unless earlier terminated in accordance with another provision of the Agreement. Upon receipt of a Reinstatement Notice, Licensee may include the Included Programs on the Licensed Service to exercise such right the extent required pursuant to the terms and stating that it intends to exercise such conditions of the Agreement. If any single Suspension lasts for a period of one month or more, Licensor shall have the right, together but not the obligation, to terminate the Agreement with details respect to the Implicated Platform by providing written notice of such election to Licensee. Notwithstanding anything to the contrary set forth herein or otherwise in the Agreement, Licensee shall not be liable for any damages of any sums which are due kind related to any Security Breaches caused solely by a third party system (and payable but unpaid not, for the avoidance of doubt, any proprietary conditional access technology employed by Project Co Licensee) through no fault of Licensee. Content Protection Requirements and Obligations. Licensee shall, at Licensee’s cost, at all times during the Term comply with the content protection requirements and obligations attached hereto as Attachment A and incorporated herein by this reference; provided however, and notwithstanding anything to the contrary herein (including, without limitation, the provisions of Section 10.1 above), if Licensor or any other SPE Entity allows any Other Provider to employ less restrictive content protection for the comparable exhibition (comparable with respect to territory, platform and device) of any Included Program(s) than that required hereunder (including, without limitation, the content protection requirements and obligations set forth in this Section 10 and/or Attachment A hereto), then Licensor shall promptly inform Licensee thereof and of any other material obligations or liabilities which should directly related terms and conditions. Licensee shall have been performed or discharged the right (but not the obligation), exercisable within 30 days after receipt of the foregoing written notice, to match such directly related terms and conditions with respect to such Included Program(s) (if Licensee is not reasonably capable of complying with such terms and conditions (taking into consideration Licensee’s technology and national footprint), then Licensor shall use commercially reasonable efforts to provide substantially comparable terms and conditions with respect to all platforms of the Licensed Service; it being agreed and acknowledged by Project Co under Licensee that Licensor may be able accommodate some but not all platforms despite commercially reasonable efforts). Licensor will impose any such terms and conditions on a non-discriminatory basis. If Licensee so elects to match, this Agreement shall be deemed automatically amended to incorporate such directly related terms and conditions, including, without limitation, such less restrictive content protection requirements for the Material Contract, in each case as at the date exhibition of such Suspension Notice; and
(b) both:
(1) Included Programs. For the Material Project Contractor has confirmed in writing avoidance of doubt, Licensee shall be entitled to enjoy the Authority that the Senior Lenders have not agreed to pay the Material Project Contractor in accordance with the Material Contract for work performed by it during the period commencing on the date (the “Suspension Date”) when it, but for benefits of this Section 10.5 regardless of whether Licensor avails itself of the provisions of this Section, would have been entitled to suspend its performance under the Material Contract [and ending no sooner than ▼]; and
(2) within 5 Business Days of receipt of confirmation from the Material Project Contractor pursuant to Section 2.3(b)(1), the Authority has not agreed, by written notice to the Material Project Contractor, to pay the Material Project Contractor in accordance with the Material Contract for work performed by it during the period (the “No Suspension Period”) commencing on the Suspension Date and ending on the earliest to occur of:
(A) the date on which the Senior Lenders exercise any of their step-in or transfer rights pursuant to and in accordance with, respectively, Section 4 or Section 6 of the Lenders’ Remedies Agreement;
(B) the date from which the Senior Lenders agree to pay the Material Project Contractor as contemplated under Section 2.3(b)(1); and
(C) the Step-in Date. except that, if the Authority provides a written notice to the Material Project Contractor pursuant to Section 2.3(b)(2) and thereafter fails to make payment to the Material Project Contractor of any undisputed amount payable pursuant to and in accordance with the Material Contract for work performed by the Material Project Contractor during the No Suspension Period, the No Suspension Period will terminate and the Material Project Contractor may thereafter exercise any right it may have to temporarily suspend its performance under the Material Contract10.1 above.
Appears in 1 contract
Samples: License Agreement
Suspension Notice. [NTD: To be included only in the Design-Build Collateral Agreement and only if such agreement contains rights for the Design-Builder to suspend its performance thereof.] The Material Project Contractor will not exercise any right it may have under the Material Contract to temporarily suspend its performance thereunder, unless:
(a) the Material Project Contractor first delivers a notice (a “Suspension Notice”) to the Authority BC Hydro detailing the event that has occurred that entitles it to exercise such right and stating that it intends to exercise such right, together with details of any sums which are due and payable but unpaid by Project Co and of any other material obligations or liabilities which should have been performed or discharged by Project Co under the Material Contract, in each case as at the date of such Suspension Notice; and
(b) both:
(1i) the Material Project Contractor has confirmed in writing to the Authority BC Hydro that the Senior Lenders have Project Cowill not agreed to pay the Material Project Contractor in accordance with the Material Contract for work performed by it during the period commencing on the date (the “Suspension Date”) when it, but for the provisions of this Section, would have been entitled to suspend its performance under the Material Contract [and ending no sooner than ▼]; and
(2ii) within 5 Business Days of receipt of confirmation from the Material Project Contractor pursuant to Section 2.3(b)(12.3(b)(i), the Authority BC Hydro has not agreed, by written notice to the Material Project Contractor, to pay the Material Project Contractor in accordance with the Material Contract for work performed by it during the period (the “No Suspension Period”) commencing on the Suspension Date and ending on the earliest to occur of:
(A) the date on which the Senior Lenders exercise any of their step-in or transfer rights pursuant to and in accordance with, respectively, Section 4 or Section 6 of the Lenders’ Remedies Agreement;
(B) the date from which the Senior Lenders agree Project Co agrees to pay the Material Project Contractor as contemplated under Section 2.3(b)(12.3(b)(i); and
(CB) the Step-in Date. , except that, if the Authority BC Hydro provides a written notice to the Material Project Contractor pursuant to Section 2.3(b)(22.3(b)(ii) and thereafter fails to make payment to the Material Project Contractor of any undisputed amount payable pursuant to and in accordance with the Material Contract for work performed by the Material Project Contractor during the No Suspension Period, the No Suspension Period will terminate and the Material Project Contractor may thereafter exercise any right it may have to temporarily suspend its performance under the Material Contract.
Appears in 1 contract
Suspension Notice. [NTD: To be included only in the Design-Build Collateral Agreement and only Major Equipment Supplier Collateral Agreement, if such agreement agreements contains rights for the Design-Builder Builder/Major Equipment Supplier to suspend its performance thereof.] The Material Project Contractor Contract Party will not exercise any right it may have under the Material Contract to temporarily suspend its performance thereunder, unless:
(a) the Material Project Contractor Contract Party first delivers a notice (a “Suspension Notice”) to the Authority BC Hydro detailing the event that has occurred that entitles it to exercise such right and stating that it intends to exercise such right, together with details of any sums which are due and payable but unpaid by Project Co and of any other material obligations or liabilities which should have been performed or discharged by Project Co under the Material Contract, in each case as at the date of such Suspension Notice; and
(b) both:
(1i) the Material Project Contractor Contract Party has confirmed in writing to the Authority BC Hydro that the Senior Lenders Creditors have not agreed to pay the Material Project Contractor Contract Party in accordance with the Material Contract for work performed by it during the period commencing on the date (the “Suspension Date”) when it, but for the provisions of this Section, would have been entitled to suspend its performance under the Material Contract [and ending no sooner than ▼]; and
(2ii) within 5 Business Days of receipt of confirmation from the Material Project Contractor Contract Party pursuant to Section 2.3(b)(12.3(b)(i), the Authority BC Hydro has not agreed, by written notice to the Material Project ContractorContract Party, to pay the Material Project Contractor Contract Party in accordance with the Material Contract for work performed by it during the period (the “No Suspension Period”) commencing on the Suspension Date and ending on the earliest to occur of:
(A) the date on which the Senior Lenders Creditors exercise any of their step-in or transfer rights pursuant to and in accordance with, respectively, Section 4 [Step-In] or Section 6 [Senior Creditor Replacement of Project Co] of the Lenders’ Remedies Agreement;
(B) the date from which the Senior Lenders Creditors agree to pay the Material Project Contractor Contract Party as contemplated under Section 2.3(b)(12.3(b)(i); and
(C) the Step-in Date. except that, if the Authority BC Hydro provides a written notice to the Material Project Contractor Contract Party pursuant to Section 2.3(b)(22.3(b)(ii) and thereafter fails to make payment to the Material Project Contractor Contract Party of any undisputed amount payable pursuant to and in accordance with the Material Contract for work performed by the Material Project Contractor Contract Party during the No Suspension Period, the No Suspension Period will terminate and the Material Project Contractor Contract Party may thereafter exercise any right it may have to temporarily suspend its performance under the Material Contract
Appears in 1 contract
Samples: Collateral Agreements
Suspension Notice. [NTD: To be included only in the Design-Build Collateral Agreement and only if such agreement contains rights for the Design-Builder to suspend its performance thereof.] The Material Project Contractor will not exercise any right it may have under the Material Contract to temporarily suspend its performance thereunder, unless:
(a) the Material Project Contractor first delivers a notice (a “Suspension Notice”) to the Authority detailing the event that has occurred that entitles it to exercise such right and stating that it intends to exercise such right, together with details of any sums which are due and payable but unpaid by Project Co and of any other material obligations or liabilities which should have been performed or discharged by Project Co under the Material Contract, in each case as at the date of such Suspension Notice; and
(b) both:
(1) the Material Project Contractor has confirmed in writing to the Authority that the Senior Lenders have not agreed to pay the Material Project Contractor in accordance with the Material Contract for work performed by it during the period commencing on the date (the “Suspension Date”) when it, but for the provisions provisions of this Section, would have been entitled to suspend its performance under the Material Contract [and ending no sooner than ▼]; and
(2) within 5 Business Days of receipt of confirmation from the Material Project Contractor pursuant to Section 2.3(b)(1), the Authority has not agreed, by written notice to the Material Project Contractor, to pay the Material Project Contractor in accordance with the Material Contract for work performed by it during the period (the “No Suspension Period”) commencing on the Suspension Date and ending on the earliest to occur of:of:
(A) the date on which the Senior Lenders exercise any of their step-in or transfer rights pursuant to and in accordance with, respectively, Section 4 or Section 6 of the Lenders’ Remedies Agreement;
(B) the date from which the Senior Lenders agree to pay the Material Project Contractor as contemplated under Section 2.3(b)(1); and
(C) the Step-in Date. except that, if the Authority provides a written notice to the Material Project Contractor pursuant to Section 2.3(b)(2) and thereafter fails to make payment to the Material Project Contractor of any undisputed amount payable pursuant to and in accordance with the Material Contract for work performed by the Material Project Contractor during the No Suspension Period, the No Suspension Period will terminate and the Material Project Contractor may thereafter exercise any right it may have to temporarily suspend its performance under the Material Contract
Appears in 1 contract
Suspension Notice. [NTD: To 2.3 to be included only in the Design-Build Collateral Agreement and only if such agreement contains rights Agreement. Show as Intentionally Deleted for the Design-Builder to suspend its performance thereofService Provider Collateral Agreement.] The Material Project Contractor will not exercise any right it may have under the Material Contract to temporarily suspend its performance thereunder, unless:
(a) the Material Project Contractor first delivers a notice (a “Suspension Notice”) to the Authority detailing the event that has occurred that entitles it to exercise such right and stating that it intends to exercise such right, together with details of any sums which are due and payable but unpaid by Project Co and of any other material obligations or liabilities which should have been performed or discharged by Project Co under the Material Contract, in each case as at the date of such Suspension Notice; and
(b) both:
(1) the Material Project Contractor has confirmed in writing to the Authority that the Senior Lenders have not agreed to pay the Material Project Contractor in accordance with the Material Contract for work performed by it during the period commencing on the date (the “Suspension Date”) when it, but for the provisions of this Section, would have been entitled to suspend its performance under the Material Contract [and ending no sooner than ▼]the date specified in the notice of suspension from the Material Project Contractor to Project Co; and
(2) within 5 Business Days of receipt of confirmation from the Material Project Contractor pursuant to Section 2.3(b)(1), the Authority has not agreed, by written notice to the Material Project Contractor, to pay the Material Project Contractor in accordance with the Material Contract for work performed by it during the period (the “No Suspension Period”) commencing on the Suspension Date and ending on the earliest to occur of:
(A) the date on which the Senior Lenders exercise any of their step-in or transfer rights pursuant to and in accordance with, respectively, Section 4 or Section 6 of the Lenders’ Remedies Agreement;
(B) the date from which the Senior Lenders agree to pay the Material Project Contractor as contemplated under Section 2.3(b)(1); and
(C) the Step-in Date. except that, if the Authority provides a written notice to the Material Project Contractor pursuant to Section 2.3(b)(2) and thereafter fails to make payment to the Material Project Contractor of any undisputed amount payable pursuant to and in accordance with the Material Contract for work performed by the Material Project Contractor during the No Suspension Period, the No Suspension Period will terminate and the Material Project Contractor may thereafter exercise any right it may have to temporarily suspend its performance under the Material Contract
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Suspension Notice. [NTD: To be included only in the Design-Build DBA Collateral Agreement and only Agreement, if such agreement contains rights for the Design-Design Builder to suspend its performance thereof.] The Material Project Contractor will not exercise any right it may have under the Material Project Contract to temporarily suspend its performance thereunder, unless:
(a) the Material Project Contractor first delivers a notice (a “Suspension Notice”) to the Authority City detailing the event that has occurred that entitles it to exercise such right and stating that it intends to exercise such right, together with details of any sums which are due and payable but unpaid by Project Co and of any other material obligations or liabilities which should have been performed or discharged by Project Co under the Material Project Contract, in each case as at the date of such Suspension Notice; and
(b) both:
(1i) the Material Project Contractor has confirmed in writing to the Authority City that the Senior Lenders have not agreed to pay the Material Project Contractor in accordance with the Material Project Contract for work performed by it during the period commencing on the date (the “Suspension Date”) when it, but for the provisions of this Section, would have been entitled to suspend its performance under the Material Contract [and ending no sooner than ▼]Project Contract; and
(2ii) within 5 Business Days of receipt of confirmation from the Material Project Contractor pursuant to Section 2.3(b)(12.3(b)(i), the Authority City has not agreed, by written notice to the Material Project Contractor, to pay the Material Project Contractor in accordance with the Material Project Contract for work performed by it during the period (the “No Suspension Period”) commencing on the Suspension Date and ending on the earliest to occur of:
(A) the date on which the Senior Lenders exercise Security Trustee exercises any of their its step-in or transfer rights pursuant to and in accordance with, respectively, Section 4 or Section 6 of the Lenders’ Remedies Agreement;
(B) the date from which the Senior Lenders agree to pay the Material Project Contractor as contemplated under Section 2.3(b)(1); and
(C) the 2.8 [Lender’s Step-in Date. except that, if the Authority provides a written notice to the Material Project Contractor pursuant to Section 2.3(b)(2) and thereafter fails to make payment to the Material Project Contractor of any undisputed amount payable pursuant to and in accordance with the Material Contract for work performed by the Material Project Contractor during the No Suspension Period, the No Suspension Period will terminate and the Material Project Contractor may thereafter exercise any right it may have to temporarily suspend its performance under the Material ContractIn Rights] or Section
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Samples: Project Agreement
Suspension Notice. [NTD: To be included only in the Design-Build Collateral Agreement and only if such agreement contains rights for the Design-Builder to suspend its performance thereof.] The Material Project Contractor will not exercise any right it may have under the Material Contract to temporarily suspend its performance thereunder, unless:
(a) the Material Project Contractor first delivers a notice (a “Suspension Notice”) to the Authority detailing the event that has occurred that entitles it to exercise such right and stating that it intends to exercise such right, together with details of any sums which are due and payable but unpaid by Project Co and of any other material obligations or liabilities which should have been performed or discharged by Project Co under the Material Contract, in each case as at the date of such Suspension Notice; and
(b) both:
(1) the Material Project Contractor has confirmed in writing to the Authority that the Senior Lenders have not agreed to pay the Material Project Contractor in accordance with the Material Contract for work performed by it during the period commencing on the date (the “Suspension Date”) when it, but for the provisions of this Section, would have been entitled to suspend its performance under the Material Contract [and ending no sooner than ▼]; andand
(2) within 5 Business Days of receipt of confirmation from the Material Project Contractor pursuant to Section 2.3(b)(1), the Authority has not agreed, by written notice to the Material Project Contractor, to pay the Material Project Contractor in in accordance with the Material Contract for work performed by it during the period (the “No Suspension Period”) commencing on the Suspension Date and ending on the earliest to occur of:
(A) the date on which the Senior Lenders exercise any of their step-in or transfer rights pursuant to and in accordance with, respectively, Section 4 or Section 6 of the Lenders’ Remedies Agreement;
(B) the date from which the Senior Lenders agree to pay the Material Project Contractor as contemplated under Section 2.3(b)(1); and
(C) the Step-in Date. except that, if the Authority provides a written notice to the Material Project Contractor pursuant to Section 2.3(b)(2) and thereafter fails to make payment to the Material Project Contractor of any undisputed amount payable pursuant to and in accordance with the Material Contract for work performed by the Material Project Contractor during the No Suspension Period, the No Suspension Period will terminate and the Material Project Contractor may thereafter exercise any right it may have to temporarily suspend its performance under the Material Contract
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Suspension Notice. [NTD: To be included only in the Design-Build Collateral Agreement and only if such agreement contains rights for the Design-Builder to suspend its performance thereof.] The Material Project Contractor will not exercise any right it may have under the Material Contract to temporarily suspend its performance thereunder, unless:
(a) the Material Project Contractor first delivers a notice (a “Suspension Notice”) to the Authority detailing the event that has occurred that entitles it to exercise such right and stating that it intends to exercise such right, together with details of any sums which are due and payable but unpaid by Project Co and of any other material obligations or liabilities which should have been performed or discharged by Project Co under the Material Contract, in each case as at the date of such Suspension Notice; and
(b) both:
(1) the Material Project Contractor has confirmed in writing to the Authority that the Senior Lenders have not agreed to pay the Material Project Contractor in accordance with the Material Contract for work performed by it during the period commencing on the date (the “Suspension Date”) when it, but for the provisions of this Section, would have been entitled to suspend its performance under the Material Contract [and ending no sooner than ▼]; and
(2) within 5 Business Days of receipt of confirmation from the Material Project Contractor pursuant to Section 2.3(b)(1), the Authority has not agreed, by written notice to the Material Project Contractor, to pay the Material Project Contractor in accordance with the Material Contract for work performed by it during the period (the “No Suspension Period”) commencing on the Suspension Date and ending on the earliest to occur of:
(A) the date on which the Senior Lenders exercise any of their step-in or transfer rights pursuant to and in accordance with, respectively, Section 4 or Section 6 of the Lenders’ Remedies Agreement;
(B) the date from which the Senior Lenders agree to pay the Material Project Contractor as contemplated under Section 2.3(b)(1); and
(C) the Step-in Date. except that, if the Authority provides a written notice to the Material Project Contractor pursuant to Section 2.3(b)(2) and thereafter fails to make payment to the Material Project Contractor of any undisputed amount payable pursuant to and in accordance with the Material Contract for work performed by the Material Project Contractor during the No Suspension Period, the No Suspension Period will terminate and the Material Project Contractor may thereafter exercise any right it may have to temporarily suspend its performance under the Material Contract.
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Suspension Notice. [NTD: To be included only in the Design-Design Build Collateral Agreement and only if such agreement contains rights for the Design-Design Builder to suspend its performance thereof.] The Material Project Contractor Contract Party will not exercise any right it may have under the Material Contract to temporarily suspend its performance thereunder, unless:
(a) the Material Project Contractor Contract Party first delivers a notice (a “Suspension Notice”) to the Authority detailing the event that has occurred that entitles it to exercise such right and stating that it intends to exercise such right, together with details of any sums which are due and payable but unpaid by Project Co and of any other material obligations or liabilities which should have been performed or discharged by Project Co under the Material Contract, in each case as at the date of such Suspension Notice; and
(b) both:
(1) the Material Project Contractor Contract Party has confirmed in writing to the Authority that the Senior Lenders have not agreed to pay the Material Project Contractor Contract Party in accordance with the Material Contract for work performed by it during the period commencing on the date (the “Suspension Date”) when it, but for the provisions of this Section, would have been entitled to suspend its performance under the Material Contract [and ending no sooner than ▼[•]]; and
(2) within 5 five Business Days of receipt of confirmation from the Material Project Contractor Contract Party pursuant to Section 2.3(b)(1), the Authority has not agreed, by written notice to the Material Project ContractorContract Party, to pay the Material Project Contractor Contract Party in accordance with the Material Contract for work performed by it during the period (the “No Suspension Period”) commencing on the Suspension Date and ending on the earliest to occur of:
(A) the date on which the Senior Lenders exercise any of their step-in or transfer rights pursuant to and in accordance with, respectively, Section 4 or Section 6 of the Lenders’ Remedies Agreement;
(B) the date from which the Senior Lenders agree to pay the Material Project Contractor Contract Party as contemplated under Section 2.3(b)(1); and
(C) the Step-in Date. , except that, if the Authority provides a written notice to the Material Project Contractor Contract Party pursuant to Section 2.3(b)(2) and thereafter fails to make payment to the Material Project Contractor Contract Party of any undisputed amount payable pursuant to and in accordance with the Material Contract for work performed by the Material Project Contractor Contract Party during the No Suspension Period, the No Suspension Period will terminate and the Material Project Contractor Contract Party may thereafter exercise any right it may have to temporarily suspend its performance under the Material Contract.
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