Model Project Development Agreement Page 60
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88(B)
reducing the Capacity Royalty payable by the Company to the GON
following COD under Section15.22; and/or
(C)
reallocating all, or a proportion of, the electrical energy which is to be
provided to the GON by the Company free of charge under the
Domestic Free Power Purchase Agreement and Section 15.15.
In order to comply with its obligations under Section 16.4 to mitigate the effects
of such Political Force Majeure Event, the Company shall sell any additional
electrical energy reallocated by the GON under Section 16.7.2(C) into the market
on arm's length commercial terms and at a price which is not materially less than
that being paid under the Export Power Purchase Agreement.
16.7.3
Notwithstanding anything contained in Section 16.7.2, the GON shall be held liable only
to such cost which is attributable to it because of lack of its due diligence in preventing
the occurrence of the Political Force Majeure Events as determined by the
Compensation Committee of Independent Experts. In case, the GON exercises its due
diligence in preventing the Political Force Majeure Events, the GON shall only extend
the period of this Agreement as determined by the Compensation Committee of
Independent Experts.
Restoration due to Political Force Majeure Events or Change in Law
16.8
In the event that (A) the Hydro Property or any part thereof is adversely affected as a result
of a Political Force Majeure Event and is not restored or remedied within thirty (30) Days
following the date that the Company becomes aware of such Political Force Majeure Event,
or (B) any modification or capital addition is required to be made to the Hydro Property or
any part thereof as a result of a Change in Law, the provisions of PartError! Reference
source not found. of Schedule 1 shall apply.
Restoration due to Other Force Majeure Events
16.9
In the event that, as a result of an Other Force Majeure Event the Hydro Property or any
part thereof is affected and is not restored or remedied within thirty (30) Days following
the date that the Company becomes aware of such Other Force Majeure Event, the
provisions of Part Error! Reference source not found. of Schedule 1 shall apply.
Termination
16.10
In the event of the occurrence of a Force Majeure Event in which that event, or the effects
thereof, continues for a period exceeding twenty four (24) consecutive Months or the
Affected Party notifies the other Party prior to the expiry of such twenty four (24) Months
period that it will be unable to resume performance within such period, either Party may
terminate this Agreement in accordance with Section18.3.1 provided that the Company
shall not be entitled to terminate this Agreement on the occurrence of a Political Force
Majeure Event should the GON continue to make payments to the Company in accordance
with the terms of this Section16.
17.
CHANGE IN LAW
Change in Law – Remedies
17.1
17.1.1
If there is a Change in Law or Change in Tax (other than a Change in Law or Change in
Tax leading to termination pursuant to Section Error! Reference source not found.)
during the period from the Agreement Date to the date falling twenty (20) Years after
54
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