NTP Deadline definition
Examples of NTP Deadline in a sentence
The Parties hereby mutually agree that the NTP Deadline referred to in Clause 9.4 (a) of the Original Agreement shall be extended to 24 April 2021 (“Extended NTP Deadline”), which shall be considered an extension of the original NTP Deadline.
Such request for approval shall also be accompanied by a certification from the Certifying Party of the period of delay that the implementation of the Lessor Variations will cause to the issuance of the Notice to Take Possession beyond the NTP Deadline and the Extended NTP Deadline (whichever is applicable).
As at the date of this Supplemental Agreement, the Lessor has indicated to the Lessee that in view of (i) Lessee Variations that have been submitted; and (ii) the impact of COVID-19 restrictions and related matters up to the date of this Supplemental Agreement, the expected TOP Date is no longer 30 September 2020 and would instead be 17 April 2021 (“Revised TOP Date”) and accordingly, the NTP Deadline would be extended to not later than 24 April 2021.
For the avoidance of doubt, (i) where any extension periods (or any part(s) thereof) hereinbefore mentioned occur concurrently, such periods (or any part(s) thereof) which occur concurrently shall not be aggregated, and (ii) the Extended NTP Deadline may be further extended under Clause 9.6 due to any of the events prescribed in Clause 9.6 (such further extended deadline also to be called the “Extended NTP Deadline”).
Equivalent to the period of delay in the issuance of the Notice to Take Possession beyond the NTP Deadline, or the Extended NTP Deadline (as the case may be), caused by the implementation of the Authorities Variations, as certified by the Certifying Party under Clause 12.2(b).
Equivalent to the period of delay in the issuance of the Notice to Take Possession beyond the NTP Deadline, or the Extended NTP Deadline (as the case may be), caused by the implementation of any Lessor Variations, as certified by the Certifying Party under Clause 12.7.
Equivalent to the period of delay in the issuance of the Notice to Take Possession beyond the NTP Deadline, or the Extended NTP Deadline (as the case may be) caused by the implementation of the Lessee Variations, as certified by the Certifying Party.
If the Lessor does not hand over possession of the Property to the Lessee by the NTP Deadline or, where applicable, the Extended NTP Deadline, the Lessee shall be entitled to liquidated damages in the form of a rent-free period for the delay equivalent to one (1) day’s rent for each day of the period of delay to commence immediately following the expiry of the Fitting Out Period.
If TVA does not find the NTP Request to be satisfactory, TVA has the right, in its reasonable discretion, to terminate this Agreement; provided that TVA has provided Seller with written notice of its finding and Seller has failed to submit a satisfactory NTP request by the later of (i) sixty (60) days after receipt of written notice from TVA and (ii) the NTP Deadline.
Such adjustment to the Contract Price shall be Contractor’s sole and exclusive remedy for Owner’s delay in issuing NTP after the Initial NTP Deadline but prior to the Second NTP Deadline.