Obligation of Parties Sample Clauses
The Obligation of Parties clause defines the specific duties and responsibilities that each party must fulfill under the agreement. It typically outlines what actions or services each party is required to perform, such as delivering goods, making payments, or providing support, and may set deadlines or standards for performance. By clearly specifying these obligations, the clause ensures that both parties understand their commitments, reducing the risk of misunderstandings and disputes during the contract's execution.
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Obligation of Parties. Upon issue of Termination Notice by either Party, the Parties shall promptly take all such steps as may be necessary or required to ensure that;
(i) the Termination Payment, if any, payable by the Authority in accordance with the following Clause 8.2 (d) is paid to the Developer on the Termination Date and
(ii) the Project Site along with the Project Facilities are handed back to the Authority by the Developer on the Termination Date free from all Encumbrance.
Obligation of Parties. Following issue of Termination Notice by either Party, the Parties shall promptly take all such steps as may be necessary or required to ensure that;
(i) until Termination the Parties shall, to the fullest extent possible, discharge their respective obligations so as to maintain the continued operation of the Project Facilities;
(ii) the termination payment, if any, payable by the Authority in accordance with the following Clause 9.2 (e) is paid to the Developer on the Termination Date; and
(iii) the Project Site and the Project Facilities are handed over to the Authority by the Developer on the Termination Date free from any Encumbrance along with any payment that may be due by the Developer to the Authority.
Obligation of Parties. Following issue of Termination Notice by either Party, the Parties shall promptly take all such steps as may be necessary or required to ensure that:
i. until Termination the Parties shall, to the fullest extent possible, discharge their respective obligations so as to maintain the continued operation of the Project Facility;
ii. The Project Facility and Project Site shall be transferred to the Concessioning Authority by the Concessionaire on the Termination Date, free from all Encumbrances, as per the provisions of Clause 6.6 (Handback of Transfer Assets) of this Agreement.
iii. The Termination Payment, if any, payable by either Party in accordance with the following sub clause (f) is paid to the Other Party on the Termination Date.
Obligation of Parties. Following issue of Termination Notice by either Party, the Parties shall promptly take all such steps as may be necessary or required to ensure that;
(a.) until Termination is final the Parties shall, to the fullest extent possible, discharge their respective obligations so as to maintain the continued operation of the Project;
(b.) the Termination Payment, if any, payable by the Authority in accordance with the following sub - article 14.4.6 is paid to the Concessionaire within 30 (thirty) days of the Termination Date; and
(c.) the Project is handed back to the Authority and all the PLBs, by the Concessionaire on the Termination Date free from any Encumbrance along with any payment that may be due by the Concessionaire to Authority.
Obligation of Parties. Following issue of Termination Notice by either Party, the Parties shall, subject to the provision of the Financing Documents and the rights of the Lenders provided therein, promptly take all such steps as may be necessary or required to ensure that:
(a) Until Termination the Parties shall, to the fullest extent possible, discharge their respective obligations so as to maintain the continued operation of the Project Facilities.
(b) The Termination Payment, if any, payable by the Lead ULB in accordance with the Clause
Obligation of Parties. Following issue of Termination Notice by either Party, the Parties shall promptly take all such steps as may be necessary or required to ensure that:
(i) the Termination Payment, if any, payable by MCD in accordance with the following sub-article (d) is paid to the Concessionaire on the Termination Date; and
(ii) the Project/Existing Project Facilities is handed over to MCD by the Concessionaire on the Termination Date free from any Encumbrance.
Obligation of Parties. Following issue of Termination Notice by either Party, the Parties shall promptly take all such steps as may be necessary or required to ensure that: i until Termination the Parties shall, to the fullest extent possible, discharge their respective obligations so as to maintain the continued operation of the Project Facilities, ii the termination payment, if any, payable by MCD in accordance with the following sub-article (f) is paid to the Concessionaire on the Termination Date and iii the Existing Project Facilities are handed over to MCD by the Concessionaire on the Termination Date free from any Encumbrance along with any payment that may be due by the Concessionaire to MCD.
Obligation of Parties. Following issue of Termination Notice by either Party, the Parties shall promptly take all such steps as may be necessary or required to ensure that;
i. The Termination Payment, if any, payable by NNR in accordance with the following clause is paid to the Concessionaire on the Termination Date and
ii. the Project Facility are handed back to NNR by the Concessionaire on the Termination Date free from all Encumbrances.
Obligation of Parties. Following issue of Termination Notice by either Party, the Parties shall promptly take all such steps as may be necessary or required to ensure that:
(a) until Termination the Parties shall, to the fullest extent possible, discharge their respective obligations so as to maintain the continued operation of the Project Facility,
(b) the Termination Payment, if any, payable by Delhi Transport Infrastructure Development Corporation Limited in accordance with the following Clause is paid to the Concessionaire on the Termination Date
(c) The Concessionaire shall allow Delhi Transport Infrastructure Development Corporation Limited to take over, the Project Site(s)/ Project Facility free and ensure it is from any Encumbrance.
(d) The Concessionaire shall remove itself, Equipment, employees and labour, all debris and waste from the Project Site(s).
(e) The Concessionaire shall cease all further Repairs, except for such work as may be necessary and instructed by Delhi Transport Infrastructure Development Corporation Limited for the purpose of making safe or protecting those parts of the Project Facility to leave the Project Site(s) in a clean and safe condition.
Obligation of Parties. Following issue of Termination Notice by either Party, the Parties shall promptly take all such steps as may be necessary or required to ensure that:
i. until Termination the Parties shall, to the fullest extent possible, discharge their respective obligations so as to maintain the continued operation of the Project Facility,
ii. the termination payment, if any, payable by NNR in accordance with the following Clause (f) is paid to theConcessionaire on the Termination Date and
iii. the Project Facility is handed back to NNR by the Concessionaire on the Termination Date free from any Encumbrance along with any payment that may be due by the Concessionaire to NNR.