✨ Asset Transfer Agreement
(ii) the Warranty at paragraph 7(c) shall apply, amended by inserting at the end of that paragraph the words "other than pursuant to section 40 of the Public Works Act 1981";
(e) at the time of any transfer to the Purchaser, the Warranties at paragraphs 7(a) to (c) (inclusive) shall be given except that the Warranty at paragraph 7(b) shall be amended by deleting the words "on Settlement" and replacing them with the words "upon transfer to the Purchaser"; and
(f) on Settlement that Land will be held as described in the right hand column of Part B of Schedule 1.
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Land: The Land listed in Part A of Schedule 1 was transferred to the Vendor by Electricity Corporation of New Zealand Limited, not by the Crown.
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No other assets: Other than the Assets, and save as disclosed in writing to the Purchaser prior to the date of this Agreement or provided for in the TSA, there are no:
(a) assets which are necessary for the operation of the Power Stations and the Assets in the manner in which they have been operated by the Vendor before the date of this Agreement; or
(b) Material assets which are necessary for the maintenance of the Power Stations and the Assets in the manner in which they have been maintained by the Vendor before the date of this Agreement.
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Not held by Subsidiaries: Without limiting clause 9 of this schedule, none of the Assets are owned by any Subsidiary of the Vendor.
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Operation and Maintenance: The Vendor has:
(a) operated, conducted and dealt with the Power Stations and the Assets in the ordinary course of business and in accordance with Good Industry Practice; and
(b) maintained all Assets in accordance with Good Industry Practice and, in respect of the 2009/2010 year, in accordance with the Vendor’s 2009/2010 maintenance plan, a copy of which is attached as Schedule 10.
- Requisitions: To the best of the Vendor’s knowledge and belief, there are no:
(a) unsatisfied requisitions by, or disputes with, any Authority which are Material to the operation of the Power Stations or the Assets; or
(b) outstanding disputes with, or complaints by, third parties which are Material to the operation of the Power Stations or the Assets; or
(c) notices, orders or planning proposals which have been served on the Vendor or otherwise notified in writing by any Authority which are Material to the operation of the Power Stations or the Assets; or
(d) Maori land claims in existence or threatened which are Material to the operation of the Power Stations or the Assets; or
(e) other claims or litigation (whether of a civil or criminal nature) existing or threatened against the Vendor or a Subsidiary which are Material to the operation of the Power Stations or the Assets.
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NZ Gazette 2011, No 93
✨ LLM interpretation of page content
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Schedule of Plant and Equipment for Tekapo A and Tekapo B
(continued from previous page)
🏗️ Infrastructure & Public Works12 March 2010
Asset Schedule, Plant and Equipment, Fixed Assets, Depreciation, Hydro, Non-Hydro, Tekapo A, Tekapo B, Intellectual Property, Documentation, Drawings, Reports, Computer Models, Databases, Training Manuals, Warranties, Information, Material Circumstances, Contracts, Business Operations, Licences, Compliance with Laws, Sufficiency of Assets, Title to Assets