✨ Agreement Terms
- ANCILLARY FIBRE OPTIC CABLE EQUIPMENT
6.1 Installation or Upgrade: Subject to the prior written approval of Genesis as to the design, specifications and location of the proposed equipment (such approval not to be unreasonably withheld or delayed), if requested by Meridian, Genesis shall permit Meridian to install in the Power Stations (or in or on the land next to the Power Stations) ("Sites") such equipment as Meridian reasonably considers necessary for the operation of its fibre optic cable network, including, without limitation, repeater equipment ("Ancillary Equipment").
6.2 Hosting and access: Genesis shall:
(a) subject to Meridian supplying Electricity to Genesis in accordance with clause 3.1 of this agreement and in consideration for the Ancillary Equipment Fee, supply sufficient quantities of electricity to the Ancillary Equipment to allow the Ancillary Equipment to operate and allow Meridian to store and operate the Ancillary Equipment at the Sites; and
(b) at no charge to Meridian, allow Meridian to access the Sites for the purpose of maintaining or upgrading the Ancillary Equipment or installing like-for-like replacement Ancillary Equipment, provided that Meridian shall:
(i) give Genesis reasonable prior notice of the date on which it will require access to the Sites; and
(ii) comply with all applicable health and safety policies in place at the Sites.
6.3 PPI escalation: The Ancillary Equipment Fee payable in each calendar year will be reviewed on 1 December of the prior calendar year ("Ancillary Equipment Fee Review Date") and if applicable increased (but in no circumstances decreased) to reflect changes in the PPI in accordance with the following formula:
Ancillary Equipment Fee for relevant calendar year = AEF x (A/B)
where
AEF = the Ancillary Equipment Fee as at the Ancillary Equipment Fee Review Date
A = the PPI for the June Quarter ending most recently before (and in the calendar year of) the Ancillary Equipment Fee Review Date
B = the PPI for the March 2010 Quarter,
PPI = Producer Price Index (inputs All Industries (excluding administration, health and education)) (PPIQ.SN8) published by Statistics New Zealand;
and:
(i) if any published PPI is revised by Statistics New Zealand then the revised PPI shall only be applied to invoices issued after the date of such revision; and
(ii) if the PPI ceases to be published (or the basis of its calculation is changed), the parties are to agree upon a substitute index (or an adjustment to the formula to take account of the change in the basis of the calculation) which approximates the purpose and composition of the PPI, and agree the date from which the
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NZ Gazette 2011, No 93
✨ LLM interpretation of page content
🏗️
Agreement between Meridian Energy Limited and Genesis Power Limited
(continued from previous page)
🏗️ Infrastructure & Public WorksElectricity Industry Act 2010, Power Stations, Tekapo A, Tekapo B, Ancillary Equipment Fee, Bill Rate, Business Day, Commencement Date, Electricity Fee, GST, Meridian’s Standard Terms and Conditions, Sale and Purchase Agreement, Subsidiary, Summer, Tekapo A Power Station, Tekapo B Power Station, Wind Data, Wind Data Fee, Winter