✨ Agreement Definitions
5 JULY 2011 NEW ZEALAND GAZETTE, No. 93 2603
"MIC Management Agreement" means the Mackenzie Irrigation Company Management Agreement substantially in the form set out in Schedule 8, the final terms of which are to be agreed between the parties.
"NZ GAAP" means generally accepted accounting practice as defined in the Financial Reporting Act 1993.
"Plant and Equipment" means all fixed and moveable plant, equipment, machinery, tools, vehicles, spare parts, furniture, fixtures and fittings used by the Vendor exclusively in relation to the Power Stations and/or the Assets including those items specified in Schedule 2.
"Power Stations" means the Tekapo A Power Station and the Tekapo B Power Station.
"Purchaser Provisions" has the meaning set out in clause 10.5.
"Recipient" means the recipient of the goods and services supplied pursuant to the Transaction for GST purposes.
"Rectification Period" means the period from the Settlement Date to the later of:
(a) the date of the expiry or earlier termination of the TSA; and
(b) 1 June 2012.
"Retained Obligations" has the meaning in clause 10.8.
"Security Interest" means:
(a) in respect of any personal property, a security interest (as defined in the Personal Property Securities Act 1999 ("PPSA")); and
(b) in respect of any other property or rights in any other property (in each case to which the PPSA does not apply), any interest which, were the PPSA to apply to that property or those rights, would constitute such a security interest.
"Settlement" means the performance by the Vendor of its obligations under clauses 6.2, 6.3 and 6.4 and the performance by the Purchaser of its obligations under clause 7.1.
"Settlement Date" means as the context may require, 1 June 2011 or the date on which Settlement takes place.
"Settlement Time" means one moment after the midnight immediately preceding the Settlement Date.
"Shareholding Ministers" means the Minister for State-Owned Enterprises and the Minister of Finance.
"Split Contract" has the meaning in clause 10.1.
"Stakeholders" means the parties, other than the Vendor, to the Commercial Contracts listed in Part B of Schedule 5.
"Subsidiary" means, in respect of any entity a subsidiary of that entity within the meaning in section 5 of the Companies Act 1993.
"Tax Invoice" has the same meaning as in the GST Act.
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NZ Gazette 2011, No 93
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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