✨ Agreement Terms and Conditions
2712 NEW ZEALAND GAZETTE, No. 93 5 JULY 2011
- PAYMENT
9.1 Service Fee: In consideration of the provision of the General Services, Genesis shall pay to Meridian the fee in respect of each General Service as specified in Schedule 1 ("Service Fee").
9.2 Invoice: By the 10th day of each month during the Transition Period (and in the month following the end of the Transition Period), Meridian shall provide to Genesis an Invoice for the aggregate amount of all Service Fees incurred in the previous month and for GST payable under clause 9.4. Each invoice shall contain sufficient information to enable Genesis to establish the accuracy of the invoice, including (insofar as the invoice is based on time spent by employees) details of the employees involved, their hourly rates and the time spent by them and activities in which they were engaged.
9.3 Payment: Genesis shall pay each invoice provided by Meridian under clause 9.2 by the 20th day of the month following the date on which Genesis receives that invoice.
9.4 GST: Each Service Fee does not include any GST. In addition to the Service Fee, Genesis shall pay to Meridian the amount of all GST chargeable on any taxable supply by Meridian under this agreement.
9.5 Disputing invoices: If Genesis in good faith disputes the accuracy of any invoice, Genesis shall, within 10 Business Days after receipt of the invoice, give notice of that fact to the Project Steering Group. That notice shall state the basis of the dispute and give relevant supporting details. Genesis shall pay the undisputed portion of the invoice and may withhold payment of the portion disputed. If the Project Steering Group is unable to resolve the dispute within 20 Business Days of the date of the notice, the dispute shall be resolved in accordance with clause 12.
- STANDARD OF SERVICE AND LIABILITY
10.1 Standards: Meridian shall, in providing the General Services:
(a) act in accordance with Good Industry Practice and shall provide the General Services to at least the same level and quality as were provided before Settlement; and
(b) comply in all material respects with all relevant laws, and to the extent that General Services are provided at the premises of Genesis, with all reasonable directions of Genesis and with the health and safety policies and procedures of Genesis.10.2 Consequential loss: Neither party shall be liable to the other for any loss of profits, loss of revenue or any consequential, indirect or special loss or damages suffered, arising directly or indirectly from any breach of this agreement or from any negligence or other act or omission.
10.3 Monetary limit: The liability of each party to the other in respect of claims arising directly or indirectly from any breach of this agreement or from any negligence or other act or omission, shall be limited to a maximum of:
(a) $25,000 in respect of any event or series of related events; and
(b) $1,000,000 in aggregate.Next Page →
NZ Gazette 2011, No 93
✨ LLM interpretation of page content
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Agreement for Transitional Services between Meridian Energy Limited and Genesis Power Limited
(continued from previous page)
🏭 Trade, Customs & IndustryAgreement, Transitional Services, Meridian Energy Limited, Genesis Power Limited, Payment Terms, Service Fee, Invoice, GST, Dispute Resolution, Standard of Service, Liability, Consequential Loss, Monetary Limit