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

Termination Amount on Private Party Default. 23.4.1 On termination of this PPP Agreement as a result of Private Party Default, SANParks shall not be liable for any payments to the Private Party; 23.4.2 Subject to the provisions of Clauses 23.4.1, the following amounts shall determine the amount payable in terms of Clauses 23.4.1: 23.4.2.1 the cost and expense incurred or to be incurred in the reinstatement of the Xxxx Braai Product as at date of termination, fair wear and tear accepted; 23.4.2.2 an amount equal to all damages recoverable at law; 23.4.2.3 all costs and expenses incurred and/or reasonably expected to be incurred in restoring or remedying material damage to the Xxxx Braai Product 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 23.4.2.4 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 23.2.2. 23.4.3 Should SANParks not exercise its rights to terminate pursuant to Clause 23.2.2, the Private Party shall compensate SANParks for all damages, costs and expenses incurred by SANParks as a result of events set forth in Clause 23.

Appears in 1 contract

Samples: Public Private Partnership Agreement

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Termination Amount on Private Party Default. 23.4.1 24.4.1 On termination of this PPP Agreement as a result of Private Party Default, Default and in the event that SANParks shall not be liable for any payments to the Private Party; 23.4.2 Subject to the provisions of Clauses 23.4.1exercises it’s rights under Clause 18.7, the following amounts shall determine be deducted from the amount market value of the Sale Assets and New Project Assets payable in terms of Clauses 23.4.1Clause 18.7: 23.4.2.1 24.4.1.1 the cost and expense incurred or to be incurred in the reinstatement of the Xxxx Braai Product Skukuza Airport as at date of termination, fair wear and tear accepted; 23.4.2.2 24.4.1.2 an amount equal to all damages recoverable at law; 23.4.2.3 24.4.1.3 all costs and expenses incurred and/or reasonably expected to be incurred in restoring or remedying material damage to the Xxxx Braai Product Skukuza Airport 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 23.4.2.4 24.4.1.4 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 23.2.224.2.2. 23.4.3 24.4.2 Should SANParks not exercise its rights to terminate pursuant to Clause 23.2.224.2.2, the Private Party shall compensate SANParks for all damages, costs and expenses incurred by SANParks as a result of events set forth in Clause 2324.

Appears in 1 contract

Samples: Public Private Partnership Agreement

Termination Amount on Private Party Default. 23.4.1 22.4.1 On termination of this PPP Agreement as a result of Private Party Default, SANParks shall not be liable for any payments payment to the Private Party;. 23.4.2 22.4.2 Subject to the provisions of Clauses 23.4.122.4.1, the following amounts shall be determine the amount payable in terms of Clauses 23.4.122.4.1 by the Private Party to SANParks: 23.4.2.1 22.4.2.1 the cost and expense incurred or to be incurred in the reinstatement of the Xxxx Braai Product Spa Facility as at date of termination, fair wear and tear accepted; 23.4.2.2 22.4.2.2 an amount equal to all damages recoverable at law; 23.4.2.3 22.4.2.3 all costs and expenses incurred and/or reasonably expected to be incurred in restoring or remedying material damage to the Xxxx Braai Product Spa 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 23.4.2.4 22.4.2.4 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 23.2.222.2.2. 23.4.3 22.4.3 Should SANParks not exercise its rights to terminate pursuant to Clause 23.2.222.2.2, the Private Party shall compensate SANParks for all damages, costs and expenses incurred by SANParks as a result of events set forth in Clause 2322.

Appears in 1 contract

Samples: Public Private Partnership Agreement

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Termination Amount on Private Party Default. 23.4.1 On termination of this PPP Agreement as a result of Private Party Default, SANParks shall not be liable for any payments to the Private Party; 23.4.2 Subject to the provisions of Clauses 23.4.1, the following amounts shall determine the amount payable in terms of Clauses 23.4.1: 23.4.2.1 the cost and expense incurred or to be incurred in the reinstatement of the Xxxx Braai Product product as at date of termination, fair wear and tear accepted; 23.4.2.2 an amount equal to all damages recoverable at law; 23.4.2.3 all costs and expenses incurred and/or reasonably expected to be incurred in restoring or remedying material damage to the Xxxx Braai Product product 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 23.4.2.4 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 23.2.2. 23.4.3 Should SANParks not exercise its rights to terminate pursuant to Clause 23.2.2, the Private Party shall compensate SANParks for all damages, costs and expenses incurred by SANParks as a result of events set forth in Clause 23.

Appears in 1 contract

Samples: Public Private Partnership Agreement

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