✨ Agreement for Sale and Purchase of Power Stations
2612 NEW ZEALAND GAZETTE, No. 93 5 JULY 2011
(a) the Hydrometric Station Equipment is located at locations other than the Land;
and
(b) there are other hydrometric stations (being those known as Tekapo River at Lake George Scott (but excluding the primary logger, kainga encoder and EPB owned by a third party), Tekapo Canal Intake, Lake Tekapo at Gate 16, Tekapo Canal 8.6km, Tekapo Canal 19.1km, Tekapo Canal 25km, Tekapo B Headwater, Tekapo B Power Station, Tekapo Canal leakage monitoring site) that are located on the Land and that will pass to the Purchaser together with the Land, and as part of the Assets.
8.6 Licensed Consents: Without limiting the obligation of the Vendor under this Agreement to transfer the Consents, to the extent permitted by the terms of any resource consent or any statute, the Vendor grants to the Purchaser an exclusive, non-transferable, royalty free, irrevocable licence to exercise the Vendor’s rights under any resource consents not transferred to the Purchaser under this Agreement but only to the extent that those consents directly relate to the Power Stations or the Assets. The Vendor shall within 20 Business Days after Settlement notify the Purchaser of each resource consent which falls within the preceding sentence (the resource consents so notified being "Licensed Consents"). The Purchaser:
(a) shall pay to the Vendor a proportionate share of any fees payable in relation to the Licensed Consents (as determined by the Vendor acting reasonably); and
(b) indemnifies the Vendor against all loss or claims suffered or incurred by the Vendor as a result of anything done or omitted to be done by the Purchaser in relation to the Licensed Consents.
Irrespective of whether all Replacement Consents (as defined below) have been obtained by the Purchaser, the licence contained in this clause 8.6 shall terminate on the earlier of:
(c) the date three years from the Settlement Date; and
(d) the date on which the relevant Licensed Consent expires or is required to be renewed.
8.7 Replacement Consents: After Settlement, the Purchaser must use reasonable endeavours to promptly obtain all such licences, permits or resource consents in its own right to replace the Licensed Consents ("Replacement Consents"). On the granting of any Replacement Consent:
(a) the Purchaser must promptly inform the Vendor in writing of this; and
(b) the licence contained in clause 8.6 shall terminate with immediate effect in respect of the relevant Licensed Consent replaced by the Replacement Consent.
The Vendor shall not oppose applications by the Purchaser for Replacement Consents.
- VENDOR’S OBLIGATIONS PENDING SETTLEMENT
9.1 Operation of business: Subject to any agreement to the contrary between the parties, the Vendor undertakes that from and after the date of this Agreement until the Settlement Date it will:
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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
(continued from previous page)
🌾 Primary Industries & ResourcesAgreement, Sale, Purchase, Power Stations, Assets, Obligations, Rectification, Indemnity, Hydrometric Stations, Licensed Consents, Replacement Consents, Settlement