Model Project Development Agreement Page 20
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88means the lawful currency of Nepal.
"Rupees"
"Scheduled COD"
means [the required commercial operation date], as such date may
be extended pursuant to this Agreement and the terms of
Export/Domestic Power Purchase Agreement.
"SIAC"
means the Singapore International Arbitration Centre.
"SIAC Rules"
means the SIAC Rules as referred to in Section 21.5.1.
"Sponsors"
means [Insert details of Project Sponsors].
"Sponsor Support
means [Insert details of the relevant agreement with
Project
Agreement"
Sponsors].
means the Staff Welfare Fund as provided for in the Nepal Labour
Staff Welfare
Fund"
Act, 2048 (1992 AD) and Bonus Act 2030 (1973 AD).
"Survey Licences" means:
(A)
licence number [Insert details] issued by the GON on
[Insert date] which permits [[the Company/[Project
Sponsor (as applicable)]] to conduct surveys, studies and
investigations in connection with the production of
electricity; and
(B)
licence number [Insert details] issued by the GON on
[Insert date] which permits [[the Company/[Project
Sponsor (as applicable)]] to conduct studies and
investigations in connection with the transmission of
electricity.
"Task Force
means the task force observer as referred to in Section 13.3.4.
Observer"
"Taxable Income"
means the income on which the Company is liable to pay income tax
under the Laws of Nepal.
"Technical
means the technical dispute as referred to in Section 21.4.1.
Dispute"
"Technical
means the technical review panel as referred to in Section 5.1.1.
Review Panel"
means the term of this Agreement as referred to in Section 3.4.
"Term"
"Termination
means a notice delivered by a Party to the other Party pursuant to
Notice"
Section 18.3.1 stating that it wishes to terminate this Agreement.
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