Hong Kong Ordinances

WESTERN HARBOUR CROSSING ORDINANCE - SECT 57

Default

(Past version on 30/06/1997).

PART XII

DEFAULT AND EXPIRY OF THE FRANCHISE

For the purposes of this Part, the Company shall be deemed to be in default
if-

   (a)  it has failed or there is a substantial likelihood of its failing to
        complete the construction works within the period referred to in
        section 13(a) or extended period referred to in section 13(b), as the
        case may be;

   (b)  there has been a substantial failure by it to discharge a material
        obligation under the project agreement;

   (c)  it has failed or there is a substantial likelihood of its failing to
        maintain or operate the Western Harbour Crossing in accordance with
        this Ordinance;

   (d)  the Guarantors having been called upon under the guarantee  agreement
        fail to respond to such call within a reasonable period;

   (e)  any Guarantor is in material breach of any provision of the
        guarantee agreement and such breach has not been rectified by any
        other Guarantor or is incapable of being rectified; or

   (f)  (Repealed 76 of 1996 s. 95)
and the expression "default" shall be construed accordingly. (Enacted 1993)
For the purposes of this Part, the Company shall be deemed to be in default if
-

   (a)  it has failed or there is a substantial likelihood of its failing to
        complete the construction works within the period referred to in
        section 13(a) or extended period referred to in section 13(b), as the
        case may be;

   (b)  there has been a substantial failure by it to discharge a material
        obligation under the project agreement;

   (c)  it has failed or there is a substantial likelihood of its failing to
        maintain or operate the Western Harbour Crossing in accordance with
        this Ordinance;

   (d)  the Guarantors having been called upon under the guarantee  agreement
        fail to respond to such call within a reasonable period;

   (e)  any Guarantor is in material breach of any provision of the
        guarantee agreement and such breach has not been rectified by any
        other Guarantor or is incapable of being rectified; or

   (f)  (Repealed 76 of 1996 s. 96)
and the expression "default" shall be construed accordingly. (Enacted 1993)