Examples of Step-In Date in a sentence
On the Step-In Date, the Appointed Representative will assume jointly and severally with Project Co the rights of Project Co under the Project Agreement, which rights are conditional on and may be exercised subject to performance of Project Co’s obligations under the Project Agreement.
HPI’s exercise of its rights under this Section will not constitute a waiver by HPI of any rights it may have (including HPI’s rights to terminate this Agreement) before, on or after the Step-In Date.
A Termination Notice can be revoked by notice to the Agent (a “Revocation of Termination Notice”) by the Province’s Representative given prior to the earlier of: (a) the Step-In Date; and (b) the proposed Termination Date set out in the Termination Notice.
Following the Step-In Date, HPI will not be obligated to pay the Charges for such impacted Services for the duration of the step-in period and, if HPI steps in as a result of the circumstances described in subsection (A), HPES will reimburse HPI for HPI’s costs and expenses incurred as a result of exercising its rights under this Section to the extent such costs and expenses exceed the Charges that would have been payable by HPI for the impacted Services had HPI not exercised its step-in rights.
Not less than 2 Business Days prior to the Proposed Step-In Date, the Design-Builder will give notice to the Authority of any change in such sums, obligations or liabilities referred to in Section 3.3.