Common use of Obligations relating to Change in Ownership Clause in Contracts

Obligations relating to Change in Ownership. The Supplier shall not undertake or permit any Change in Ownership, except with the prior written approval of the Utility. In addition, the Supplier in such case shall also ensure that similar provisions as contained in Clause 5.3 are incorporated in the exclusive Power Purchase Agreement submitted by the Supplier. In such case, the aforesaid provisions shall be applicable with respect to Bidder ( name of the majority investor in the Developer as specified in the Power Purchase Agreement submitted by the Supplier as a part of the Bid). The Supplier shall ensure the compliance of the provisions mentioned in this Clause 5.3. and any default on the part of the Supplier in compliance of the same shall be a Supplier Default in terms of Article 19.1. The Utility(s) shall have the right to verify the compliance of the provision as mentioned in this Clause 5.3.”]