Such loans may require the provision of some collateral by the project company, such as a mortgage of real estate provided to the project company for the development of the project.

2. Project sponsors and project company

The company abandoned that project.

2. Project sponsors and project company 15 18 5 3.

A. Contractors of the project company

B. The rights of the project company

C. General obligations of the project company

In order to avoid a subsidiary liability for payment of the project company s debts, the project sponsors will normally prefer to establish the project company as a limited liability company, such as a joint stock company.

A Nigerian company based in the United States, was currently planning and undertaking an ambitious project called the African Telecommunications, Applications, Manufacturing, Research and Development Project.

Generally, there might be three possible ways for the project company to acquire easements the project company might acquire them directly from the owners of the properties concerned the host Government might acquire and transfer them to the project company or the law may grant such rights directly to the project company.

Some laws contain provisions concerning the scope of activities of the project company, requiring, for instance, that the project company s activities be limited to the development and operation of a particular project.

The Hatsiba Company is supervising the project.19

And this is our project for Ford Motor Company.

79. It was proposed that paragraph 49 also mention directors of the project company as possible parties to agreements concerning the management of the project company.

When used in the Guide, such word is a synonym of project company or project consortium .

The company invested a lot of money in this project.

Acquisition of land by the project company might be used for the development of projects that originate from an unsolicited proposal from the private sector.

The project company will have the overall responsibility for the project and will establish a number of contractual arrangements with construction contractors, equipment suppliers, the operation and maintenance company and other contractors, as required for the implementation of the project.

When the works performed by the project company are found to be unsatisfactory or inconsistent with the specifications, the law sometimes provides that the project company may be subject to penalties or liquidated damages as provided in the project agreement.

The precise nature of the easements required by the project company would often depend on the nature of the project.

During the life of the project, it may happen that third parties become interested in substituting for the project company.

By giving the project company alternative sources of revenue the host Government could make it possible for the project company to follow a policy of low or controlled prices for the main service.

The host Government might also be interested in ensuring that the statutes and by laws of the project company will adequately reflect the obligations assumed by the company in the project agreement, or that they will not hinder the execution of the project.

B. Project development

A privately financed infrastructure project is often carried out by a company especially established by the project sponsors for that purpose.

National laws often contain provisions concerning the development of the project and the procedures to ensure compliance by the project company with the engineering design and technical specifications. The initial construction project may be subject to review by the host Government so as to ensure that it conforms to the specifications and technical requirements for the development of the project.

As regards the prices charged by the project company, two basic approaches have been observed in some cases the project company is free to determine its pricing and commercial policy, while in other cases the law subjects the initial price charged by the project company to some control mechanism (e.g. approval by the competent regulatory body, or requirement that the prices be provided in the project agreement).

Disputes between the project company and foreign contractors, or between the host Government and the project company, are frequently of a commercial nature and it has often been agreed to subject those disputes to arbitration.

It was noted, however, that the pledge of shares of the project company raised essentially the same concerns as arose where the project company itself or the concession was assigned to another entity or consortium.

In most cases, however, the project company will be reluctant to assume the responsibility for purchasing the land needed for the project.

In some cases, the project company may be required to enter into contracts with the users of the service or the consumers of the goods supplied by the project company (such as gas, water or electricity).

D. Project Development Support

Some laws specifically require that the project company be incorporated as a certain type of company, while other laws make no provision on this subject.

The purpose of the project company shall be limited to the execution and operation of the project for which the concession was awarded.

And the people who'd created it came back the project managers, the company chairmen then.

He is going to take charge of a project concerning the future of the company.

Routine transactions of the project company may be further facilitated by adequate commercial banking legislation.

The project company may be required to take a number of measures before the execution of the project (e.g. to secure the necessary financial means to prepare the technical documentation to sign the project agreement within a certain period from the award of the concession to establish the project company to obtain licences or permits).

Main grounds for early termination normally include any of the following the opening of certain types of insolvency proceedings in respect of the project company the expropriation of the project company the termination for reasons of public interest the inability or serious failure by the project company to perform its obligations or the failure by the host Government to perform its obligations.

Environmental sanitary project Canadian International Development Agency (CIDA) project, 1988

It was observed, however, that the creditors apos objective in obtaining shares as security was not to sell them in case of the project company apos s default, but to take over the control of the project company.

Equity capital is obtained in the first place from the project sponsors or other individual investors interested in taking stock in the project company.

It was observed that the legislative guide, in referring to the project company, often used terms that indicated a particular form of company it was suggested that such terminology should be avoided, because various corporate forms were used for incorporating project operators, the common characteristic of which was that the liability of the company owners for the obligations of the company was limited to their stake in the company.

And I'm just going to give two images out of a kind of company research project.

For that purpose, the project company may be required to provide some sort of financial guarantee.