N-1Non-Confidential Work Order 10/4/2010
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- a. An outline of its eligible costs - b. An updated al1l1ual cash flow statement and budget - c. An update confirming - 1. its Project schedule; - ii. the percentage of its share of the Project that has been completed to date; and - iii....
AI summary The text outlines funding procedures and obligations related to a project, including the submission of financial statements, project progress updates, and payment terms. It also discusses a 10% holdback on payments until conditions in the Federal Contribution Agreement are met, and provisions for repayment if NB Power is not entitled to the contribution.
6. REPAYMENT OF CONTRIBUTIONS - 6.1 For the period commencing on March 31, 2014 and ending on March 31, 2019, the Parties shall pay to NB Power 50 percent of annnal Profits derived from equipment, know-how, or other forms of Developed Inte...
AI summary This section outlines the repayment obligations of the Parties to NB Power regarding profits from developed intellectual property and the disposition of project-related property. These obligations are tied to the Federal Contribution Agreement and must be fulfilled to comply with its terms.
14. DISPOSITION OF PROPERTY 14.1 If, prior to the Completion Date of the Project and for five (5) years thereafter, the Proponent sells, leases or otherwise disposes of any property other than Intellectual Property, where the cost of the p...
AI summary The document outlines the requirements for the Proponent regarding the disposition of property, specifying that if the Proponent sells, leases, or otherwise disposes of property (excluding Intellectual Property) within five years of the Project's Completion Date, they must notify the Minister and share proceeds with Canada in proportion to Canada's contribution, up to the amount of Canada's contribution under the Agreement.
CERTIFICATION OF COSTS INCURRED AND PAID Pursuant to Article 6 of this Agreement, the Proponent must submit, no later than April 30, 2014, the following certification in writing on company letterhead and signed by the duly authorized offic...
AI summary The Proponent, NB Power Holding Corporation, certifies that all eligible project costs have been incurred and paid as of April 30, 2014. The certification is required under Article 6 of the agreement and includes a statement that supporting documents will be available upon request. Misrepresentation or breach could result in default and termination of the agreement.