Common use of No obligation to Operate Clause in Contracts

No obligation to Operate. Maintain and Manage the Project in the event of Termination i. If NRANVP issues Termination Notice for Lessee’s Event of Default under Article 7.1 (a), above, NRANVP shall have no obligation to develop and/or operate the Project ii. However, in the event NRANVP decides to develop and/or operate the Project, NRANVP shall provide a notice to the Lessee before the Termination becoming effective, stating NRANVP’s intent to step in (whether itself or through its agents/affiliates) and shall carry on the development to such extent as it may deem fit. It is clarified that in such case, NRANVP shall not be liable in any manner to any third party for any liability or commitment made by the Lessee. iii. NRANVP shall have no liability to the Lessee for any act resulting from a breach by Lessee of its obligations under this Agreement or any agreement or commitment made by the Lessee to any third party.

No obligation to Operate. Maintain and Manage the Project in the event of Termination i. If NRANVP issues Termination Notice for LesseeLicensee’s Event of Default under Article 7.1 (ai), above, NRANVP shall have no obligation to develop and/or operate the Project. ii. However, in the event NRANVP decides to develop and/or operate the Project, NRANVP shall provide a notice to the Lessee Licensee before the Termination becoming effective, stating NRANVP’s intent to step in (whether itself or through its agents/affiliates) and shall carry on the development to such extent as it may deem fit. It is clarified that in such case, NRANVP shall not be liable in any manner to any third party for any liability or commitment made by the LesseeLicensee. iii. NRANVP shall have no liability to the Lessee Licensee for any act resulting from a breach by Lessee Licensee of its obligations under this Agreement or any agreement or commitment made by the Lessee Licensee to any third party.