Common use of Compensation on Termination Clause in Contracts

Compensation on Termination. (a) If this Project Agreement is terminated pursuant to Sections 25.3(a)(i), 26.2(a)(ii), 27.2(a), 27.2(b) or 27.3(a), then: (i) Owner shall pay the Compensation Payment to Project Co, calculated and payable in accordance with Schedule 12 – Compensation on Termination; and (ii) the provisions of Sections 4.3 through 4.8, inclusive, shall no longer apply. (b) Project Co hereby irrevocably directs Owner to make any Compensation Payment to Agent, or as Agent may direct, as security for the Financing. Owner shall pay the Compensation Payment as directed by Agent and shall not accept any redirection without the consent of Agent. Any portion of a Compensation Payment funded by monies deposited to the Trust Account shall be paid directly to Agent or as Agent may direct from the Trust Account in accordance with the provisions of the Trust Account Acknowledgement Agreement. Owner will pay the Compensation Payment in accordance with the provisions of Schedule 12 – Compensation on Termination. Project Co acknowledges and agrees that payment by Owner of the Compensation Payment to Agent in accordance with this Section 4.9 constitutes payment by Owner to Project Co in satisfaction of Owner’s obligation to pay the Compensation Payment to Project Co under this Project Agreement and in satisfaction of any trust obligation of Owner with respect to such payments under Section 7 of the Construction Lien Act (Ontario) pursuant to Section 10 of the Construction Lien Act (Ontario).

Compensation on Termination. (a) If this Project Agreement is terminated pursuant to Sections 25.3(a)(i), 26.2(a)(ii), 27.2(a), 27.2(b) or 27.3(a), then: (i) Owner shall pay the Compensation Payment to Project Co, calculated and payable in accordance with Schedule 12 – Compensation on Termination; and (ii) the provisions of Sections 4.3 through 4.84.10, inclusive, shall no longer apply. (b) Project Co hereby irrevocably directs Owner to make any Compensation Payment to Agent, or as Agent may direct, as security for the Financing. Owner shall pay the Compensation Payment as directed by Agent and shall not accept any redirection without the consent of Agent. Any portion of a Compensation Payment funded by monies deposited to the Trust Account shall be paid directly to Agent or as Agent may direct from the Trust Account in accordance with the provisions of the Trust Account Acknowledgement Acknowledgment Agreement. Owner will pay the Compensation Payment in accordance with the provisions of Schedule 12 – Compensation on Termination. Project Co acknowledges and agrees that payment by Owner of the Compensation Payment to Agent in accordance with this Section 4.9 4.11 constitutes payment by Owner to Project Co in satisfaction of Owner’s obligation to pay the Compensation Payment to Project Co under this Project Agreement and in satisfaction of any trust obligation of Owner with respect to such payments under Section 7 of the Construction Lien Act (Ontario) pursuant to Section 10 of the Construction Lien Act (Ontario).

Compensation on Termination. (a) If this Project Agreement is terminated pursuant to Sections 25.3(a)(i), 26.2(a)(ii), 27.2(a), 27.2(b) or 27.3(a), then: (i) Owner shall pay the Compensation Payment to Project Co, calculated and payable in accordance with Schedule 12 – Compensation on Termination; and (ii) the provisions of Sections 4.3 through 4.84.10, inclusive, shall no longer apply. (b) Project Co hereby irrevocably directs Owner to make any Compensation Payment to Agent, or as Agent may direct, as security for the Financing. Owner shall pay the Compensation Payment as directed by Agent and shall not accept any redirection without the consent of Agent. Any portion of a Compensation Payment funded by monies deposited to the Trust Account shall be paid directly to Agent or as Agent may direct from the Trust Account in accordance with the provisions of the Trust Account Acknowledgement Agreement. Owner will pay the Compensation Payment in accordance with the provisions of Schedule 12 – Compensation on Termination. Project Co acknowledges and agrees that payment by Owner of the Compensation Payment to Agent in accordance with this Section 4.9 4.11 constitutes payment by Owner to Project Co in satisfaction of Owner’s obligation to pay the Compensation Payment to Project Co under this Project Agreement and in satisfaction of any trust obligation of Owner with respect to such payments under Section 7 of the Construction Lien Act (Ontario) pursuant to Section 10 of the Construction Lien Act (Ontario).

Compensation on Termination. (a) If this Project Agreement is terminated pursuant to Sections 25.3(a)(i), 26.2(a)(ii), 27.2(a), 27.2(b) or 27.3(a), then: (i) Owner shall pay the Compensation Payment to Project Co, calculated and payable in accordance with Schedule 12 – Compensation on Termination; and (ii) the provisions of Sections 4.3 through 4.8, inclusive, shall no longer apply. (b) Project Co hereby irrevocably directs Owner to make any Compensation Payment to Agent, or as Agent may direct, as security for the Financing. Owner shall pay the Compensation Payment as directed by Agent and shall not accept any redirection without the consent of Agent. Any portion of a Compensation Payment funded by monies deposited to the Trust Account shall be paid directly to Agent or as Agent may direct from the Trust Account in accordance with the provisions of the Trust Account Acknowledgement Acknowledgment Agreement. Owner will pay the Compensation Payment in accordance with the provisions of Schedule 12 – Compensation on Termination. Project Co acknowledges and agrees that payment by Owner of the Compensation Payment to Agent in accordance with this Section 4.9 constitutes payment by Owner to Project Co in satisfaction of Owner’s obligation to pay the Compensation Payment to Project Co under this Project Agreement and in satisfaction of any trust obligation of Owner with respect to such payments under Section 7 of the Construction Lien Act (Ontario) pursuant to Section 10 of the Construction Lien Act (Ontario).

Compensation on Termination. (a) If this Project Agreement is terminated pursuant to Sections 25.3(a)(i), 26.2(a)(ii), 27.2(a), 27.2(b) or 27.3(a), then: (i) Owner shall pay the Compensation Payment to Project Co, calculated and payable in accordance with Schedule 12 – Compensation on Termination; and (ii) the provisions of Sections 4.3 through 4.84.10, inclusive, shall no longer apply. (b) Project Co hereby irrevocably directs Owner to make any Compensation Payment to Agent, or as Agent may direct, as security for the Financing. Owner shall pay the Compensation Payment as directed by Agent and shall not accept any redirection without the consent of Agent. Any portion of a Compensation Payment funded by monies deposited to the Trust Account shall be paid directly to Agent or as Agent may direct from the Trust Account in accordance with the provisions of the Trust Account Acknowledgement Agreement. Owner will pay the Compensation Payment in accordance with the provisions of Schedule 12 – Compensation on Termination. Project Co acknowledges and agrees that payment by Owner of the Compensation Payment to Agent in accordance with this Section 4.9 4.11 constitutes payment by Owner to Project Co in satisfaction of Owner’s Owner‟s obligation to pay the Compensation Payment to Project Co under this Project Agreement and in satisfaction of any trust obligation of Owner with respect to such payments under Section 7 of the Construction Lien Act (Ontario) pursuant to Section 10 of the Construction Lien Act (Ontario).

Compensation on Termination. ‌ (a) If this Project Agreement is terminated pursuant to Sections 25.3(a)(i26.3(a)(i), 26.2(a)(ii27.2(a)(ii), 27.2(a28.2(a), 27.2(b28.3(a), 28.3(b) or 27.3(a28.4(a), then: (i) Owner THP shall pay the Compensation Payment to Project Co, calculated and payable in accordance with Schedule 12 – Compensation on Termination; and (ii) the provisions of Sections 4.3 through 4.84.7, inclusive, shall no longer apply. (b) Project Co hereby irrevocably directs Owner THP to make any Compensation Payment to Agent, or as Agent may direct, as security for the Financing. Owner THP shall pay the Compensation Payment as directed by Agent and shall not accept any redirection without the consent of Agent. Any portion of a Compensation Payment funded by monies deposited to the Trust Account shall be paid directly to Agent or as Agent may direct from the Trust Account in accordance with the provisions of the Trust Account Acknowledgement Agreement. Owner THP will pay the Compensation Payment in accordance with the provisions of Schedule 12 – Compensation on Termination. Project Co acknowledges and agrees that payment by Owner THP of the Compensation Payment to Agent in accordance with this Section 4.9 constitutes payment by Owner THP to Project Co in satisfaction of OwnerTHP’s obligation to pay the Compensation Payment to Project Co under this Project Agreement and in satisfaction of any trust obligation of Owner THP with respect to such payments under Section 7 of the Construction Lien Act (Ontario) pursuant to Section 10 of the Construction Lien Act (Ontario).

Compensation on Termination. ‌ (a) If this Project Agreement is terminated pursuant to Sections 25.3(a)(i26.3(a)(i), 26.2(a)(ii27.2(a)(ii), 27.2(a28.2(a), 27.2(b28.3(a), 28.3(b) or 27.3(a28.4(a), then: (i) Owner Contracting Authority shall pay the Compensation Payment to Project Co, calculated and payable in accordance with Schedule 12 – Compensation on Termination; and (ii) the provisions of Sections 4.3 through 4.84.7, inclusive, shall no longer apply. (b) Project Co hereby irrevocably directs Owner Contracting Authority to make any Compensation Payment to Agent, or as Agent may direct, as security for the Financing. Owner Contracting Authority shall pay the Compensation Payment as directed by Agent and shall not accept any redirection without the consent of Agent. Any portion of a Compensation Payment funded by monies deposited to the Trust Account shall be paid directly to Agent or as Agent may direct from the Trust Account in accordance with the provisions of the Trust Account Acknowledgement Agreement. Owner Contracting Authority will pay the Compensation Payment in accordance with the provisions of Schedule 12 – Compensation on Termination. Project Co acknowledges and agrees that payment by Owner Contracting Authority of the Compensation Payment to Agent in accordance with this Section 4.9 constitutes payment by Owner Contracting Authority to Project Co in satisfaction of OwnerContracting Authority’s obligation to pay the Compensation Payment to Project Co under this Project Agreement and in satisfaction of any trust obligation of Owner Contracting Authority with respect to such payments under Section 7 of the Construction Lien Act (Ontario) pursuant to Section 10 of the Construction Lien Act (Ontario).