Examples of Material Contract Party in a sentence
If the Material Contract Party is comprised of more than one legal entity, the obligations and liabilities of the Material Contract Party under this Agreement will be the obligations and liabilities of each legal entity comprising the Material Contract Party, jointly and severally with each other such legal entity.
Except in accordance with Sections 9.1 to 9.3 (inclusive) or as otherwise expressly permitted under this Agreement, the Authority will not, prior to the Senior Debt Discharge Date, claim, recover, retain or receive(or seek to claim, recover, retain or receive) any amount under either of the Material Project Contractor Collateral Agreements (or either of the Material Contracts) in respect of a loss for which a Material Contract Party is also liable to the Senior Lenders.
Unless otherwise defined in this Agreement or to the extent the context requires, this Agreement will be interpreted according to the provisions set out in Sections 2 and 3(b) of Schedule 1 [Definitions and Interpretation] to the Project Agreement, except that references in such section to Project Co will be also deemed to be references to the Material Contract Party.
Nothing in this Agreement will be construed as creating a partnership or as constituting the Material Contract Party as an agent of BC Hydro.
The Material Contract Party will not hold itself out as having any authority or power to bind BC Hydro in any way.
In Undertaking Not less than five Business Days prior to the Proposed Step-in Date, the Material Contract Party will give notice to the Authority 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 the Step-in Notice.
The Material Contract Party will not hold itself out as having any authority or power to bind the Authority in any way.
Not less than two Business Days prior to the Proposed Step-in Date, the Material Contract Party will give notice to BC Hydro of any change in such sums, obligations or liabilities referred to in Section 3.3.
BC Hydro may, at any time, terminate the Step-in Period by giving the Material Contract Party at least 30 days' notice specifying the date on which the Step-in Period will terminate (the "Step-out Date").
Unless otherwise defined in this Agreement or to the extent the context requires, this Agreement will be interpreted according to the provisions set out in Schedule 1 [Definitions and Interpretation] to the Project Agreement, except that references in such Section to Project Co will be also deemed to be references to the Material Contract Party.