Joint Venture Contribution Agreement
Category: 270 Legal Recent Posts, Joint Venture
Joint Venture Contribution Agreement
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7. ENVIRONMENTAL INDEMNITIES
The provisions of schedule 13 shall apply, save that the provisions of schedule 13 shall not apply and the provisions of clause 8 shall instead apply to the first Relevant Property following Completion to be the subject of a resolution by the board of JVCo to cease operations at and dispose of production facilities at such Relevant Property.
8. FACILITY RATIONALISATION
8.1 If following Completion the board of JVCo resolves in accordance with the terms of the Shareholders’ Agreement to cease operations at and dispose of a production facility (at Billingham or Severnside as detailed in schedule 11 or at Ince as detailed in schedule 10) (each a “Relevant Disposal” or a “Relevant Property”, respectively) the provisions of this clause 8 shall apply to the first such Relevant Property in respect of which such a resolution is passed. The party that sold to JVCo the entity with title to the Relevant Property pursuant to this agreement is referred to in this clause 8 as the “Contributing Party”.
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