STEP-IN AND STEP-OUT Sample Clauses

The Step-In and Step-Out clause allows a third party, often a lender or project sponsor, to temporarily take over (step in) or withdraw from (step out) the rights and obligations of a party under a contract, typically in the event of default or failure to perform. In practice, this means that if the original contractor fails to meet their obligations, the third party can intervene to ensure the project continues without interruption, and later relinquish control once issues are resolved. This clause is essential for maintaining project continuity and protecting the interests of stakeholders by providing a mechanism to address performance failures without terminating the entire agreement.
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STEP-IN AND STEP-OUT. In Notice
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STEP-IN AND STEP-OUT. 3.1 Step-In Notice (a) no later than 10 Business Days after termination of the Project Agreement if the Project Agreement was terminated by the Authority; and (b) no later than 10 Business Days after delivery of the Termination Notice to the Authority.
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STEP-IN AND STEP-OUT. 4.1 Step­In 4.1.1 At least 10 days before the Agent delivers a Step­In Notice, the Agent will deliver notice (an “Appointed Representative Notice”) to the Province of: 4.1.1.1 its intention to deliver a Step­In Notice; and 4.1.1.2 the identity of its proposed Appointed Representative. 4.1.2 If, at any time: 4.1.2.1 during the Required Period; or 4.1.2.2 during which an Enforcement Event is subsisting (whether or not a Termination Notice has been given by the Province), the Agent gives notice (a “Step­In Notice”) to the Province electing to appoint the Appointed Representative identified in an Appointed Representative Notice delivered pursuant to Section 4.1.1, together with a written consent from the Appointed Representative confirming its consent to act in such capacity, then during the Step­In Period the Appointed Representative will assume, jointly with the Concessionaire, all of the Concessionaire’s rights under the Concession Agreement. 4.1.3 During the Step­In Period, the Province will deal with the Appointed Representative instead of the Concessionaire in connection with all matters related to the Concession Agreement, and the Concessionaire agrees to be bound by all such dealings between the Province and the Appointed Representative to the same extent as if they had been between the Province and the Concessionaire. The Appointed Representative will at all times during the Step­In Period grant to the Province and its authorized representatives: 4.1.3.1 timely, full, complete and unrestricted access to all of the Concessionaire’s books, records and information; and 4.1.3.2 a right of access to the Appointed Representative’s books, records and information that is equivalent to the rights of access that the Province has to the Concessionaire books, records and information under the Concession Agreement, in order to enable the Province to monitor the performance of the obligations under the Concession Agreement.
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STEP-IN AND STEP-OUT. 3.1 If the Authority issues a notice under clause 2.2 of its intention to exercise its rights under this Agreement, the Authority may at any time during the period commencing on the date of that notice up to (and including) the date which is ten (10) Business Days thereafter request that the Contractor and/or the Licensor (as the case may be) issue a Liability Notice. The Contractor and/or the Licensor (as the case may be) shall provide to the Authority a Liability Notice within twenty five (25) Business Days of receipt of the request for the Liability Notice having first taken into account any reasonable representations made by the Authority. If reasonable access to the Sites or to the Contractor's and/or the Licensor's (as the case may be) books, records and information as reasonably required by the Authority for the purpose of making representations is not granted to the Authority, the time period referred to hereunder shall be extended as requested by the Authority (acting reasonably). Subject to clause 3.3 the Liability Notice shall be deemed to be conclusive as to the maximum amount of the sums which are, or shall become, payable and of the maximum amount of any obligations which are, or shall become, outstanding by the Employer to the Contractor under the relevant Ecodeco Construction Contract and/or to the Licensor by Project Co under the Operational Licence up to a date specified in the Liability Notice. The Contractor and/or the Licensor (as the case may be) shall not be entitled to assert that any sums are due or payable or that any obligations are outstanding in respect of the period prior to the Step-in Date other than those amounts or obligations, respectively, set out in the Liability Notice. 3.2 No later than ten (10) Business Days following receipt by the Authority of the Liability Notice, the Authority may give written notice to the Contractor and/or the Licensor (as the case may be) ("Step-in Notice") of the intention of the Authority to issue a Step-in Undertaking on a specified date being no later than the date which is twenty (20) Business Days after the date of receipt of the Liability Notice. 3.3 The Authority may at any time prior to the date which is ten (10) Business Days after the issue of the Liability Notice request the Contractor and/or the Licensor (as the case may be) to adjust the Liability Notice so as to reflect any change to the proposed date of issue of a Step-in Undertaking and following such request the Contractor an...
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STEP-IN AND STEP-OUT. 13 4.1 Step­In 13 4.2 Step Out 14 5. NOVATION 15 5.1 Proposed Substitute Concessionaire 15 5.2 Information for Consent to Novation 16 5.3 Grant of Consent 16 5.4 Subsequent Proposed Novations 18 5.5 Implementation of Novation 18 5.6 Continuation of Step­in Period 19
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Related to STEP-IN AND STEP-OUT

  • STEP IV If the Association is not satisfied with the disposition of the grievance at Step III, the Association may submit the grievance to final and binding arbitration through the American Arbitration Association, which shall act as the administrator of the proceedings. If a demand for arbitration is not filed within thirty (30) days of the day for Step IV answer, then the grievance shall be deemed withdrawn. a. The arbitrator shall have no power to alter the terms of the agreement.

  • Step III 21.5.1 If the employee desires to appeal the grievance to Step III, the employee shall indicate in writing the reason for the appeal and present it along with the original written grievance to the Municipal Employee Relations Officer or designee within ten (10) working days following receipt of the written decision at Step II. 21.5.2 Within ten (10) working days after receipt of the appeal to Step III, the Municipal Employee Relations Officer or designee shall schedule a meeting with the employee, the appropriate Union representative, and the Department Director or designee to discuss the matter. A written decision shall be given to the employee or the appropriate Employee Organization representative within ten (10) working days following the meeting. 21.5.3 If the decision of the Municipal Employee Relations Officer or designee is unsatisfactory, the appropriate Employee Organization representative may appeal the grievance to Step IV - Arbitration.

  • Step I 18.3.1.1 An employee may present the grievance orally either directly or through the Union representative to the immediate supervisor. The grievance must be presented within ten (10) working days following the event or events on which the grievance is based. The immediate supervisor shall make whatever investigation is necessary to obtain the facts pertaining to the grievance. Within ten (10) working days after receiving the oral grievance, the immediate supervisor shall give the employee an oral reply. 18.3.1.2 If the employee is not satisfied with the reply of his/her immediate supervisor, he/she may appeal the grievance to Step II.

  • Step One a. The local or an employee alleging a grievance ("the grievor") shall request a meeting with the employer official directly responsible, and at such meeting they shall attempt to resolve the grievance summarily. Where the grievor is not the local, the grievor shall be accompanied at this meeting by a representative appointed by the local. b. The grievance must be raised within thirty (30) working days of the alleged violation, or within thirty (30) working days of the party becoming reasonably aware of the alleged violation.

  • STEP II If the grievance is not resolved at Step I then the Association may refer the grievance to the superintendent or the superintendent’s official designee within ten (10) days after receipt of the Step I answer. The superintendent shall arrange with the Association representative for a meeting to take place within five (5) days of the superintendent’s receipt of the appeal. Each party may include in its representation such witnesses and counselors as it deems necessary. Within five (5) days of the meeting, the Association shall be provided with the superintendent’s written response, including the reasons for the decision.