Model Project Development Agreement Page 35
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8810.2.4
If in the GON's reasonable assessment, the Company has complied with its obligations
set out in Section 10.2.1then the GON shall use the powers granted to it under the Laws
of Nepal to (i) acquire title and vacant possession of such Non-GON Project Land and
(ii) transfer it to the Company within a period of [Insert number of Months] Months
from the date of the Land Acquisition Application.
10.2.5
The Company shall be responsible for meeting the acquisition cost of the Project Area
and right of way for the Transmission Line acquired in accordance with this Section 10,
including the acquisition cost of any Non-GON Project Land compulsorily acquired by
the GON in accordance with its powers granted under the Laws of Nepal.
10.2.6
The Company shall develop a strategic plan for acquisition of land in the Project Area in
compliance with the Land Acquisition Act, 2034 (1977), applicable Plans and Key
Guidelines in order to ensure satisfactory and timely resettlement of Project Affected
People and payment of compensation where necessary within the Project Area. The
GON shall assist the Company in this regard including negotiation to procure
Non-GON Project Land.
10.2.7
During the Term, the Company shall not sell, transfer, alienate or create any
Encumbrances over the Project Area except in accordance with Section 23.
11.
CARBON AND OTHER ENVIRONMENTAL CREDITS
Feasibility of the ER Project
11.1
11.1.1
As soon as reasonably practical, and in any event on or before the date that occurs thirty
(30) Days after the Effective Date, or as subsequently agreed between the Parties, the
Company shall, with the advice and consent of the GON, retain, pursuant to terms of
reference approved by the GON, a qualified and experienced GHG Reduction project
development consultant to produce a detailed report that outlines the feasibility, options
and necessary steps for the creation and sale of GHG Reduction Benefits from the
Project (the "ER Project").
11.1.2
The GON shall respond in writing within twenty (20) Days of the Company's request to
approve the identified GHG Reduction project development consultant and the terms of
reference pursuant to which the consultant is engaged. The report shall be produced for
and on behalf of and delivered to both the GON and the Company as soon as possible,
and in any event not later than one hundred and twenty (120) Days following the
selection of the GHG Reduction project development consultant. The GON and the
Company shall supply any information and assistance reasonably requested by the
consultant as necessary to complete the report.
Business plan
11.2
Within a reasonable period following the issuance of the report in Section 11.1.2, the
Company shall prepare and submit to the GON for its approval a business plan for the
creation, marketing and sale of the GHG Reduction Benefits. In the event the GON does
not provide the Company with a written disapproval of the business plan within sixty (60)
Days of its submission to the GON, the business plan shall be deemed to have been
approved.
Consents
11.3
11.3.1
If the ER Project is pursued under the Clean Development Mechanism or an alternative
regulatory scheme, the GON shall have the right to be added as an Emission Reduction
Project Participant.
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