✨ Energy Agreement
5 JULY 2011 NEW ZEALAND GAZETTE, No. 93 2599
AGREEMENT dated 2011
PARTIES
MERIDIAN ENERGY LIMITED ("Vendor")
GENESIS POWER LIMITED (trading as Genesis Energy) ("Purchaser")
INTRODUCTION
A.
Under the Electricity Industry Act 2010, the shareholding Ministers of the parties have directed the boards of directors of each party to require their respective companies to enter into this Agreement.
B.
This Agreement provides for the sale and purchase of the Assets and the transfer or novation of the Assumed Obligations from the Vendor to the Purchaser.
AGREEMENT
- INTERPRETATION
1.1 Definitions: In this Agreement, unless the context otherwise requires:
"Agreed Form Contract" has the meaning set out in clause 10.5.
"Agreement" means this Agreement together with the Schedules.
"Agreement Date" means the date of this Agreement.
"Asset Records" means all documents, records, and information created by, or in the possession of, the Vendor (whether in written or electronic form) which relate solely to the Power Stations and/or the Assets including without limitation plans and maps, maintenance and operational records, communications with local bodies, statutory authorities, adjoining land owners and others, historical records relating to weather, snow-melt, and water inflows and outflows, asset registers, and systems management records.
"Assets" means:
(a) all Land, Plant and Equipment, Asset Records, Consents, Intellectual Property, Consumables, and other assets that constitute part of or relate exclusively to the Power Stations together with all other things and rights that are exclusively intended for use or used at or in, or for the operation and maintenance of, the Power Stations, including those items specified in Schedule 2; and
(b) without limiting paragraph (a):
(i) the rights and obligations of the Vendor under all the Commercial Contracts to the extent provided for in clause 10 and to the extent that they arise after the Settlement Date or are not exercised by the Settlement Date;
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NZ Gazette 2011, No 93
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🌾 Agreement for Sale and Purchase of Power Stations
🌾 Primary Industries & ResourcesAgreement, Sale, Purchase, Power Stations, Meridian Energy, Genesis Energy