Political Event definition

Political Event shall have the meaning set forth in Clause 21.4;

Political Event means the Force Majeure Events set out in Article 14.3.

Political Event means any event or circumstance or combination of events or circumstances of a political nature, social unrest or change in the Laws of Bangladesh (including the effects of such events and circumstances or combination of events or circumstances) referred to in this section that materially and adversely affects the performance by a Party of its obligations under this Agreement, but only if and to the extent that such events and circumstances are not within the reasonable control, of the affected Party; provided, that a political event or circumstance or combination of political events or circumstances (including political acts and social unrest the effects of such events and circumstances or combination of events or circumstances) shall not be construed as a Political Event unless such material and adverse effect could not have been prevented, overcome, or remedied in whole or in part by the affected Party through the exercise of reasonable diligence and care, it being understood and agreed that reasonable diligence and care includes acts or activities to protect the Parties facilities from a casualty event, which are reasonable in light of the likelihood of such event, the probable effect of such event if it should occur, and the likely efficacy of the protection measures.

Examples of Political Event in a sentence

• The affected Party shall use all reasonable efforts to mitigate the effects of a Political Event or Change in Law, including but not limited to, the payment of all reasonable sums of money by or on behalf of the affected Party, which sums are reasonable in light of the likely efficacy of the mitigation measures.

• Upon the occurrence of any Political Event after the Commercial Operations Date, then during the Political Event, BPDB shall pay to the Company Tariff Payments for Net Energy Output delivered during such Political Event.

• Provided however, that if the resultant Material Adverse Effect is such that this Agreement is frustrated or is rendered illegal or impossible of performance, the Change in Law shall be deemed to be a Political Event, whereupon the provisions with respect thereto shall apply.

• Protracted Default: failure of the Buyer to pay fully the Debt at the expiration of the waiting period, provided that such failure is not due to Insolvency, a Political Event or a Natural Disaster.

• In the event that a Political Event results in damage to, or other adverse effects on, the Facility, which is repaired or otherwise remedied by the Company, and the Implementation Agreement is not terminated pursuant to Section 11B.4(a) or 11B.4(b) thereof, the Company shall be entitled to receive Payments from BPDB.

More Definitions of Political Event

Political Event shall have the meaning set forth in Clause 21.4; “Programme” shall have the meaning set forth in Clause 10.1 (iii);

Political Event shall have the meaning ascribed thereto in Clause 14.4.

Political Event bears the meaning ascribed thereto in Section 16A.1.1;

Political Event shall have the meaning as set forth in Clause 28.4; “Preservation Costs” ” shall have the meaning as set forth in Clause 15.4.3;

Political Event shall have the meaning as set forth in Clause 17.4; [Insert this definition in case Supplier is a Trading Licensee:

Political Event shall have the meaning ascribed thereto in Article 15.4.

Political Event shall have the meaning set forth in Clause 21.4; “Programme” shall have the meaning set forth in Clause 10.1(iii); “Project” means the construction and maintenance of the Project Highway in accordance with the provisions of this Agreement, and includes all works, services and equipment relating to or in respect of the Scope of theProject; “Project Assets” means all physical and other assets relating to (a) tangible assets such as civil works and equipment including foundations, embankments, pavements,road surface, interchanges, bridges, culverts, road over-bridges, drainage works, traffic signals, sign boards, kilometer-stones, [toll plaza(s)], electrical systems, communication systems, rest areas, relief centers, maintenance depots and administrative offices; and (b) Project Facilities situated on the Site; “Project Completion Date” means the date on which the Completion Certificate is issued; “Project Completion Schedule” means the progressive Project Milestones set forth in Schedule-J for completion of the Project Highway on or before the Scheduled CompletionDate; “Project Facilities” means all the amenities and facilities situated on the Site, as described in Schedule-C; “Project Highway” means the Site comprising “Widening / Improvement to 4 (Four) Lane with Paved Shoulder configuration of existing single lane road from Kachukhana Harichara Paglagaunj to Dhubri - Phulbari Bridge approach (Package-II) of Srirampur - Dhubri Section of NH-127B from existing Km 28.050 to Km 55.060 (Design Km 27.650 to Km 54.154), (Design Length=26.504 Km) on EPC Mode in the State of Assam under JICA - ODA loan assistance.” and all Project Assets, and its subsequent development and augmentation in accordance with this Agreement; “Project Milestone” means the project milestone set forth in Schedule-J; “Proof Consultant” shall have the meaning set forth in Clause 10.2; “Quality Assurance Plan” or “QAP” shall have the meaning set forth in Clause 11.2; “Re.”, “Rs.” or “Rupees” or “Indian Rupees” or “INR” means the lawful currency of the Republic of India; “Request for Proposals” or “RFP” shall have the meaning set forth in Recital ‘C’; Contract AgreementPage 24 of 153 “Widening / Improvement to 4 (Four) Lane with Paved Shoulder configuration of existing single lane road from Kachukhana Harichara Paglagaunj to Dhubri - Phulbari Bridge approach (Package-II) of Srirampur - Dhubri Section of NH-127B from existing Km 28.050 to Km 55.060 (Design Km 27.650 to Km 54.154), (Design Leng...