Model Project Development Agreement Page 76
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8834.
ENTIRE AGREEMENT
34.1.1
Each of the Parties confirm that this Agreement, the Transaction Documents, the
Generation Licence and the Transmission Licence represents the entire understanding,
and constitutes the whole agreement, in relation to its subject matter and supersedes any
previous agreement between the Parties with respect thereto and, without prejudice to
the generality of the foregoing, excludes any warranty, condition or other undertaking
implied at law or by custom, usage or course of dealing.
34.1.2
Each Party confirms that:
(A)
in entering into this Agreement it has not relied on any representation,
warranty, assurance, covenant, indemnity, undertaking or commitment
which is not expressly set out or referred to in this Agreement or the
Transaction Documents;
(B)
in any event, without prejudice to any liability for fraudulent
misrepresentation or fraudulent misstatement, the only rights or
remedies in relation to any representation, warranty, assurance,
covenant, indemnity, undertaking or commitment given or action taken
in connection with this Agreement, are as set out in this Agreement; and
(C)
neither Party has any other right or remedy (whether by way of a claim
for contribution or otherwise) in tort (including negligence) or for
misrepresentation (whether negligent or otherwise, and whether made
prior to, and/or in, this Agreement).
35.
INTEREST
Any amounts due but not paid in accordance with this Agreement shall bear interest at the
prevailing rate of [GON to insert relevant index for Nepalese Rupees] plus [five percent
(5%)] compounded monthly.
36.
SEVERABILITY
Any provision of this Agreement which is held by a court or other competent authority to
be invalid, void, unenforceable or against public policy, shall be ineffective to the extent
only of such invalidity, voidness or unenforceability, without invalidating the remaining
provisions of this Agreement.
IN WITNESS WHEREOF, the Parties hereto, acting through their duly authorised representatives,
have caused this Agreement to be signed in ten (10) copies in the English language, at The
Department of Electricity Development, 576-Bhakti Thapa Sadak (4), Thapagaon, Anamnagar,
Kathmandu, Nepal on the date above written.
Signed on behalf of
Signed on behalf of
Government of Nepal
The Company
(…………………………………..)
(…………………………………..)
Director General
Department of Electricity Development
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