Common use of Contract Water Clause in Contracts

Contract Water. 2.1. The Shareholder must notify the Company of its nominated Contract Water for the first Irrigation Season in which the Shareholder requires Contract Water by no later than the preceding 15 June. Prior to July 2024, the Shareholder may increase its nominated Contract Water for an Irrigation Season by notifying the Company of the increased amount by no later than the preceding 15 June. If the Shareholder does not nominate increased Contract Water for an Irrigation Season by the preceding 15 June, its nomination for that Irrigation Season will be deemed to be the same as the last nomination given by the Shareholder under this clause 2.1. 2.2. The Shareholder acknowledges that, subject to clause 6 of this Schedule, once it has nominated a volume of Contract Water, it may not reduce its commitment to pay for that volume of Contract Water in that Irrigation Season or any subsequent Irrigation Season, irrespective of whether the Shareholder actually orders that water during the relevant Irrigation Season.