Common use of Termination Amount on Private Party Default Clause in Contracts

Termination Amount on Private Party Default. 24.4.1 On termination of this PPP Agreement as a result of Private Party Default, SANParks shall pay the Private Party an amount equal to the Depreciated Value of the Sale Assets, set out in the annual audited books of account of the Private Party on the date of such termination. 24.4.2 Subject to the provisions of Clauses 24.4.1, the following amounts shall be deducted from the amount payable in terms of Clauses 24.4.1: 24.4.2.1 the cost and expense incurred or to be incurred in the reinstatement of the KNP Fleet Workshops as at date of termination, fair wear and tear accepted; 24.4.2.2 an amount equal to all damages recoverable at law; 24.4.2.3 all costs and expenses incurred and/or reasonably expected to be incurred in restoring or remedying material damage to the KNP Fleet Workshops and the Environment caused by the Private Party and/or any Person for whom it is legally responsible in terms of this PPP Agreement; and 24.4.2.4 all reasonably foreseeable economic losses suffered or reasonably expected to be suffered by SANParks as a result of the breach or breaches by the Private Party of this PPP Agreement which resulted in termination of this PPP Agreement pursuant to Clause 24.2.2. 24.4.3 Should SANParks not exercise its rights to terminate pursuant to Clause 24.2.2, the Private Party shall compensate SANParks for all damages, costs and expenses incurred by SANParks as a result of events set forth in Clause 24.

Termination Amount on Private Party Default. 24.4.1 On termination of this PPP Agreement as a result of Private Party Default, SANParks shall pay the Private Party an amount equal to the Depreciated Value of the Sale Assets, set out in the annual audited books of account of the Private Party on the date of such termination. 24.4.2 Subject to the provisions of Clauses 24.4.1, the following amounts shall be deducted subtracted from the amount payable in terms of Clauses 24.4.1: 24.4.2.1 the cost and expense incurred or to be incurred in the reinstatement of the KNP Fleet Workshops Restaurant Facility as at date of termination, fair wear and tear accepted; 24.4.2.2 an amount equal to all damages recoverable at law; 24.4.2.3 all costs and expenses incurred and/or reasonably expected to be incurred in restoring or remedying material damage to the KNP Fleet Workshops Restaurant Facility and the Environment caused by the Private Party and/or any Person for whom it is legally responsible in terms of this PPP Agreement; and 24.4.2.4 all reasonably foreseeable economic losses suffered or reasonably expected to be suffered by SANParks as a result of the breach or breaches by the Private Party of this PPP Agreement which resulted in termination of this PPP Agreement pursuant to Clause 24.2.2. 24.4.3 Should SANParks not exercise its rights to terminate pursuant to Clause 24.2.2, the Private Party shall compensate SANParks for all damages, costs and expenses incurred by SANParks as a result of events set forth in Clause 24.

Termination Amount on Private Party Default. 24.4.1 On termination of this PPP Agreement as a result of Private Party Default, SANParks shall pay the Private Party an amount equal to the Depreciated Value of the Sale Assets, set out in the annual audited books of account of the Private Party on the date of such termination. 24.4.2 Subject to the provisions of Clauses 24.4.1, the following amounts shall be deducted from the amount payable in terms of Clauses 24.4.1: 24.4.2.1 the cost and expense incurred or to be incurred in the reinstatement of the KNP Fleet Workshops Restaurant Facility as at date of termination, fair wear and tear accepted; 24.4.2.2 an amount equal to all damages recoverable at law; 24.4.2.3 all costs and expenses incurred and/or reasonably expected to be incurred in restoring or remedying material damage to the KNP Fleet Workshops Restaurant Facility and the Environment caused by the Private Party and/or any Person for whom it is legally responsible in terms of this PPP Agreement; and 24.4.2.4 all reasonably foreseeable economic losses suffered or reasonably expected to be suffered by SANParks as a result of the breach or breaches by the Private Party of this PPP Agreement which resulted in termination of this PPP Agreement pursuant to Clause 24.2.2. 24.4.3 Should SANParks not exercise its rights to terminate pursuant to Clause 24.2.2, the Private Party shall compensate SANParks for all damages, costs and expenses incurred by SANParks as a result of events set forth in Clause 24.

Termination Amount on Private Party Default. 24.4.1 On termination of this PPP Agreement as a result of Private Party Default, SANParks shall pay the Private Party an amount equal to the Depreciated Value of the Sale Assets, set out in the annual audited books of account of the Private Party on the date of such termination. 24.4.2 Subject to the provisions of Clauses 24.4.1, the following amounts shall be deducted from the amount payable in terms of Clauses 24.4.1: 24.4.2.1 the cost and expense incurred or to be incurred in the reinstatement of the KNP Fleet Workshops Selati Precinct Facility as at date of termination, fair wear and tear accepted; 24.4.2.2 an amount equal to all damages recoverable at law; 24.4.2.3 all costs and expenses incurred and/or reasonably expected to be incurred in restoring or remedying material damage to the KNP Fleet Workshops Selati Precinct Facility and the Environment caused by the Private Party and/or any Person for whom it is legally responsible in terms of this PPP Agreement; and 24.4.2.4 all reasonably foreseeable economic losses suffered or reasonably expected to be suffered by SANParks as a result of the breach or breaches by the Private Party of this PPP Agreement which resulted in termination of this PPP Agreement pursuant to Clause 24.2.2. 24.4.3 Should SANParks not exercise its rights to terminate pursuant to Clause 24.2.2, the Private Party shall compensate SANParks for all damages, costs and expenses incurred by SANParks as a result of events set forth in Clause 24.

Termination Amount on Private Party Default. 24.4.1 On termination of this PPP Agreement as a result of Private Party Default, SANParks shall pay the Private Party an amount equal to the Depreciated Value of the Sale Assets, set out in the annual audited books of account of the Private Party on the date of such termination. 24.4.2 Subject to the provisions of Clauses 24.4.1, the following amounts shall be deducted from the amount payable in terms of Clauses 24.4.1: 24.4.2.1 : the cost and expense incurred or to be incurred in the reinstatement of the KNP Fleet Workshops Picnic Site Facility as at date of termination, fair wear and tear accepted; 24.4.2.2 ; an amount equal to all damages recoverable at law; 24.4.2.3 ; all costs and expenses incurred and/or reasonably expected to be incurred in restoring or remedying material damage to the KNP Fleet Workshops Picnic Site Facility and the Environment caused by the Private Party and/or any Person for whom it is legally responsible in terms of this PPP Agreement; and 24.4.2.4 and all reasonably foreseeable economic losses suffered or reasonably expected to be suffered by SANParks as a result of the breach or breaches by the Private Party of this PPP Agreement which resulted in termination of this PPP Agreement pursuant to Clause 24.2.2. 24.4.3 Should SANParks not exercise its rights to terminate pursuant to Clause 24.2.2, the Private Party shall compensate SANParks for all damages, costs and expenses incurred by SANParks as a result of events set forth in Clause 24.

Termination Amount on Private Party Default. 24.4.1 On termination of this PPP Agreement as a result of Private Party Default, SANParks shall pay the Private Party an amount equal to the Depreciated Value of the Sale Assets, set out in the annual audited books of account of the Private Party on the date of such termination. 24.4.2 Subject to the provisions of Clauses 24.4.1, the following amounts shall be deducted from added to the amount payable in terms of Clauses 24.4.1:; 24.4.2.1 the cost and expense incurred or to be incurred in the reinstatement of the KNP Fleet Workshops Restaurant Facility as at date of termination, fair wear and tear accepted; 24.4.2.2 an amount equal to all damages recoverable at law; 24.4.2.3 all costs and expenses incurred and/or reasonably expected to be incurred in restoring or remedying material damage to the KNP Fleet Workshops Restaurant Facility and the Environment caused by the Private Party and/or any Person for whom it is legally responsible in terms of this PPP Agreement; and 24.4.2.4 all reasonably foreseeable economic losses suffered or reasonably expected to be suffered by SANParks as a result of the breach or breaches by the Private Party of this PPP Agreement which resulted in termination of this PPP Agreement pursuant to Clause 24.2.2. 24.4.3 Should SANParks not exercise its rights to terminate pursuant to Clause 24.2.2, the Private Party shall compensate SANParks for all damages, costs and expenses incurred by SANParks as a result of events set forth in Clause 24.

Termination Amount on Private Party Default. 24.4.1 On termination of this PPP Agreement as a result of Private Party Default, SANParks shall pay the Private Party an amount equal to the Depreciated Value of the Sale Assets, set out in the annual audited books of account of the Private Party on the date of such termination. 24.4.2 Subject to the provisions of Clauses 24.4.1, 24.4.1 the following amounts shall be deducted subtracted from the amount payable in terms of Clauses 24.4.1:; 24.4.2.1 the cost and expense incurred or to be incurred in the reinstatement of the KNP Fleet Workshops Restaurant and Retail Facility as at date of termination, fair wear and tear accepted; 24.4.2.2 an amount equal to all damages recoverable at law; 24.4.2.3 all costs and expenses incurred and/or reasonably expected to be incurred in restoring or remedying material damage to the KNP Fleet Workshops Restaurant and Retail Facility and the Environment caused by the Private Party and/or any Person for whom it is legally responsible in terms of this PPP Agreement; and 24.4.2.4 all reasonably foreseeable economic losses suffered or reasonably expected to be suffered by SANParks as a result of the breach or breaches by the Private Party of this PPP Agreement which resulted in termination of this PPP Agreement pursuant to Clause 24.2.2. 24.4.3 Should SANParks not exercise its rights to terminate pursuant to Clause 24.2.2, the Private Party shall compensate SANParks for all damages, costs and expenses incurred by SANParks as a result of events set forth in Clause 24.

Termination Amount on Private Party Default. 24.4.1 On termination of this PPP Agreement as a result of Private Party Default, SANParks shall pay the Private Party an amount equal to the Depreciated Value of the Sale Assets, set out in the annual audited books of account of the Private Party on the date of such termination. 24.4.2 Subject to the provisions of Clauses 24.4.1, the following amounts shall be deducted from added to the amount payable in terms of Clauses 24.4.1: 24.4.2.1 the cost and expense incurred or to be incurred in the reinstatement of the KNP Fleet Workshops Restaurant Facility as at date of termination, fair wear and tear accepted; 24.4.2.2 an amount equal to all damages recoverable at law; 24.4.2.3 all costs and expenses incurred and/or reasonably expected to be incurred in restoring or remedying material damage to the KNP Fleet Workshops Restaurant Facility and the Environment caused by the Private Party and/or any Person for whom it is legally responsible in terms of this PPP Agreement; and 24.4.2.4 all reasonably foreseeable economic losses suffered or reasonably expected to be suffered by SANParks as a result of the breach or breaches by the Private Party of this PPP Agreement which resulted in termination of this PPP Agreement pursuant to Clause 24.2.2. 24.4.3 Should SANParks not exercise its rights to terminate pursuant to Clause 24.2.2, the Private Party shall compensate SANParks for all damages, costs and expenses incurred by SANParks as a result of events set forth in Clause 24.

Termination Amount on Private Party Default. 24.4.1 On termination of this PPP Agreement as a result of Private Party Default, SANParks shall pay the Private Party an amount equal to the Depreciated Value of the Sale Assets, set out in the annual audited books of account of the Private Party on the date of such termination. 24.4.2 Subject to the provisions of Clauses 24.4.1, the following amounts shall be deducted from added to the amount payable in terms of Clauses 24.4.1:; 24.4.2.1 the cost and expense incurred or to be incurred in the reinstatement of the KNP Fleet Workshops Restaurant and Retail Facility as at date of termination, fair wear and tear accepted; 24.4.2.2 an amount equal to all damages recoverable at law; 24.4.2.3 all costs and expenses incurred and/or reasonably expected to be incurred in restoring or remedying material damage to the KNP Fleet Workshops Restaurant and Retail Facility and the Environment caused by the Private Party and/or any Person for whom it is legally responsible in terms of this PPP Agreement; and 24.4.2.4 all reasonably foreseeable economic losses suffered or reasonably expected to be suffered by SANParks as a result of the breach or breaches by the Private Party of this PPP Agreement which resulted in termination of this PPP Agreement pursuant to Clause 24.2.2. 24.4.3 Should SANParks not exercise its rights to terminate pursuant to Clause 24.2.2, the Private Party shall compensate SANParks for all damages, costs and expenses incurred by SANParks as a result of events set forth in Clause 24.

Termination Amount on Private Party Default. 24.4.1 On termination of this PPP Agreement as a result of Private Party Default, SANParks shall pay the Private Party an amount equal to the Depreciated Value of the Sale Assets, set out in the annual audited books of account of the Private Party on the date of such termination. 24.4.2 Subject to the provisions of Clauses 24.4.1, Clause 24.4.1 the following amounts shall be deducted from added to the amount payable in terms of Clauses Clause 24.4.1: 24.4.2.1 the cost and expense incurred or to be incurred in the reinstatement of the KNP Fleet Workshops Retail Facility as at date of termination, fair wear and tear accepted; 24.4.2.2 an amount equal to all damages recoverable at law; 24.4.2.3 all costs and expenses incurred and/or reasonably expected to be incurred in restoring or remedying material damage to the KNP Fleet Workshops Retail Facility and the Environment caused by the Private Party and/or any Person for whom it is legally responsible in terms of this PPP Agreement; and 24.4.2.4 all reasonably foreseeable economic losses suffered or reasonably expected to be suffered by SANParks as a result of the breach or breaches by the Private Party of this PPP Agreement which resulted in termination of this PPP Agreement pursuant to Clause 24.2.2. 24.4.3 Should SANParks not exercise its rights to terminate pursuant to Clause 24.2.2, the Private Party shall compensate SANParks for all damages, costs and expenses incurred by SANParks as a result of events set forth in Clause 24.