The preferred solution Sample Clauses

The preferred solution. Given that background, a Seller is likely to prefer to take back securities over an Income Payment Date, for example where the amount which the Seller itself would receive if it held the equities at the Income Payment Date would exceed the amount which the Buyer would have to hand over to the Seller under the normal rule in paragraph 5(c) as outlined above.

The preferred solution. The preferred solution is to support the Government of Papua New Guinea (GoPNG) to lead the planning, coordination and on-the-ground implementation of measures to facilitate adaptation at all administrative levels to manage climate change risks with a particular focus on increasing vulnerable communities‘ resilience to climate change. Papua New Guinea at all societal levels requires support to effect a paradigm shift in development processes in order to transform reactive and ad hoc responses, which became particularly evident during the consultation processes in preparation of this proposal (as detailed in Annex 6), into anticipatory and planned interventions to manage the uncertainties of climate change. Resources are required to support the country to put in place pro-active systems and concrete measures that can provide real and lasting benefits to vulnerable communities and development-critical sectors with respect to adapting to climate change. These resources are critical for the GoPNG to achieve its aspirations laid out in the overarching development frameworks: PNG Vision 2050, Development Strategic Plan (2030), Medium Term Development Plan (2011-2015) and the Climate Compatible Development Strategy (CCDS) as well as the Interim Action Plan resulting from the CCDS. Organizational & Governance Structure In March 2010 the Cabinet created the necessary organizational and governance structure to implement PNG‘s CCDS. This included the establishment of the Office of Climate Change and Development (OCCD) as well as the National Climate Change Committee (NCCC), who take full and exclusive responsibility of climate change and environmental sustainability. Discussions are currently underway to elevate the status of OCCD to that of an Authority to give it greater scope for responding to climate change issues and build resilience in PNG‘s development agenda. This is a very positive development in putting climate change at the forefront of national priorities and in the implementation of this project. Since September 2010 OCCD has been fully staffed. In addition PNG‘s NCCC meets on a monthly basis to guide the country‘s climate change work. The NCCC includes departmental heads of all government departments and authorities most concerned with climate change issues including but not limited to the Deparments of Forestry, Agriculture, Environment and Conservation, Finance, National Planning and Monitoring. At a working level, the OCCD has created multi-stakehold...