Common use of Sustainability Commitments Clause in Contracts

Sustainability Commitments. (a) The Parties acknowledge that each Relevant Ministry has undertaken in the Sustainability Commitments Agreement to comply with or achieve (as applicable) the Sustainability Commitments falling within its respective competencies as set out in the Sustainability Commitments Agreement by the relevant Original Deadline for Compliance as the same may be extended to the relevant Extended Deadline for Compliance and, in respect of the Ongoing Sustainability Commitments falling within its respective competencies, maintain compliance thereafter for the applicable period specified in the Sustainability Commitments Agreement. (b) The Parties agree that, in the event a Grace Period or a Remedy Period is approved by the Project Manager in relation to an Original Deadline for Compliance or an Extended Deadline for Compliance (as applicable) for a Sustainability Commitment under the Sustainability Commitments Agreement in accordance with its terms, upon the Facility Agent being notified of any such Grace Period or Remedy Period and forwarding such notice to the Parties, DFC and IADB, each such Grace Period or Remedy Period (as applicable) shall apply without any further consent required. (c) The Borrower agrees that any failure by a Relevant Ministry to comply with or achieve (as applicable) any Sustainability Commitment falling within its respective competencies or, in respect of the Ongoing Sustainability Commitments falling within its respective competencies, maintain compliance with them, pursuant to the Sustainability Commitments Agreement, will: (i) if applicable, trigger Additional Conservation Payments in accordance with Clause 6.4 (Additional Conservation Payments); and (ii) potentially trigger an Event of Default under this Agreement (but only in accordance with Clause 19.15(a) and Clause 19.15(b) (Sustainability Commitments)).

Sustainability Commitments. (a) The Parties acknowledge that each Relevant Ministry has undertaken in the within whose competencies Sustainability Commitments Agreement Commitment 1 falls, fails to comply with, achieve or maintain compliance with or achieve (as applicable) the Sustainability Commitments falling within its respective competencies as set out in the Sustainability Commitments Agreement by the relevant Original Deadline for Compliance as the same may be extended to the relevant Extended Deadline for Compliance and, in respect of the Ongoing Sustainability Commitments falling within its respective competencies, maintain compliance thereafter for the applicable period specified in the Sustainability Commitments AgreementCommitment 1. (b) The Parties agree thatIn connection with any two or more Sustainability Commitments, in the event a Grace Period or a Remedy Period is approved by the Project Manager in relation to an Original Deadline for Compliance or an Extended Deadline for Compliance (as applicable) for a other than Sustainability Commitment under 1, the Sustainability Commitments Agreement in accordance with its terms, upon the Facility Agent being notified Borrower is required to pay (and does pay) Additional Conservation Payments as a result of any such Grace Period or Remedy Period and forwarding such notice to the Parties, DFC and IADB, each such Grace Period or Remedy Period (as applicablei) shall apply without any further consent required. (c) The Borrower agrees that any a failure by a Relevant Ministry to comply with or achieve (as applicable) any such Sustainability Commitment Commitments falling within its respective competencies or, in respect of by the relevant Final Deadline for Compliance or (ii) a failure by a Relevant Ministry to maintain compliance with such Ongoing Sustainability Commitments falling within its respective competencies, maintain compliance for a consecutive period of four (4) years from the date on which the first payment of an Additional Conservation Payment was due and payable in connection with themsuch Sustainability Commitments. (c) Any representation, pursuant warranty or statement made or deemed to be made by a Relevant Ministry in the Sustainability Commitments Agreement, willAgreement is or proves to have been incorrect or misleading in any material respect when made or deemed to be made unless the circumstances giving rise to the misrepresentation or breach of warranty are: (i) if applicable, trigger Additional Conservation Payments in accordance with Clause 6.4 (Additional Conservation Payments)capable of remedy; and (ii) potentially trigger an Event remedied within ten (10) Business Days of Default the earlier of: (A) the Facility Agent (acting at the direction of the Majority Lenders or the Project Manager thereunder) giving notice of the misrepresentation or breach of warranty to the Relevant Ministry, with a copy to the Borrower; and (B) the Relevant Ministry becoming aware of the misrepresentation or breach of warranty. (d) Any Relevant Ministry fails to comply with its information undertaking under this Agreement Clause 2.4 (but only in accordance with Clause 19.15(a) and Clause 19.15(b) (Information undertaking on Sustainability Commitments))) of the Sustainability Commitments Agreement and such failure is not remedied within thirty (30) days of such non-compliance.