✨ Agreement Definitions
5 JULY 2011 NEW ZEALAND GAZETTE, No. 93 2601
"Business Day" means a day (other than a Saturday or Sunday or a public holiday) on which registered banks are open for the transaction of normal banking business in Wellington.
"Commercial Contracts" means the agreements listed in Parts A and B of Schedule 5.
"Consents" means the licences, approvals, authorisations, permits and consents held, made or given or applied for by, for or on behalf of, or given to, the Vendor in connection with the operation or ownership of the Power Stations and/or the Assets including without limitation the licences, approvals, authorisations, permits and consents listed in Parts E and F of Schedule 1 (those listed being the "Specified Consents"), and includes:
(a) existing permissions, rights and authorities, water permits and discharge permits and land use consents under the Resource Management Act 1991 or any predecessor legislation or regulation;
(b) similar or related consents or permits (including rights pursuant to section 124 of the Resource Management Act 1991 and all applications for any consents or other similar or related rights under that, or any other, legislation or regulation); and
(c) notifications of any existing uses under the Water and Soil Conservation Act 1967 or any other legislation or regulation,
but, save for the Specified Consents, does not include any Consents held and required to be exercised by the Vendor in connection with its operations or assets, other than the Power Stations and/or the Assets.
"Consideration" means the purchase price for the purchase of the Assets and the assumption of the Assumed Obligations as specified in clause 3.1.
"Consumables" means all stocks of lubricants and other consumable items used in or relating exclusively to the Power Stations and/or the Assets.
"Counterparty" means each party to a Commercial Contract other than the Vendor.
"Counterparty Obligations" means:
(a) in respect of Assigned Contracts, all obligations of a Counterparty which relate to the period after the Settlement Time; and
(b) in respect of Split Contracts, all obligations of a Counterparty which are relevant to Purchaser Provisions and which relate to the period after the Settlement Time.
"Crown/ECNZ Agreements" means all or any of:
(a) an agreement dated 22 December 1998 between Electricity Corporation of New Zealand Limited ("ECNZ") and the Vendor;
(b) a deed entitled "Deed of Assumption and Release" dated 22 December 1998 between the Crown, ECNZ, and the Vendor; and
(c) a deed entitled "Deed relating to Transfer of Meridian Energy Limited Land Titles" dated 16 February 2006 between the Crown, ECNZ, and the Vendor.
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NZ Gazette 2011, No 93
✨ LLM interpretation of page content
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Agreement for Sale and Purchase of Power Stations
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🌾 Primary Industries & ResourcesAgreement, Sale, Purchase, Power Stations, Definitions, Consents, Contracts