![]() ![]() Memorandum of Agreement, the Parties shall execute the Master Power Purchase and Sale Agreement in the form set out in Annex C. SECTION ONE: MASTER POWER PURCHASE AND SALE AGREEMENTġ.1 Simultaneously with the execution of this Power Purchase and Sale Agreement, the Parties wish to document their understanding of certain agreements and arrangements they have reached in respect of the foregoing. NOW, THEREFORE, pending the completion of the Facility and the effectiveness of the Master Maintenance of the viability, of the Project. Accordingly, both the Seller and the Buyer have an interest in the completion, and the The effectiveness of the Master Power Purchase and Sale Agreement is subject to the conditions setĭ. In the form of Annex C hereto, which will govern such sale and purchase of the Product between the Parties.Ĭ. The completion of the Project and the commercial operations of the Facility, which is currently anticipated to occur in 2010, the Seller desires to supply and sell to the Buyer, and the Buyer desires to purchase from the Seller, the Product (asĭefined in the Master Power Purchase and Sale Agreement) and accordingly, have agreed to execute, simultaneously with this Memorandum of Agreement, a Master Power Purchase and Sale Agreement (the Master Power Purchase and Sale Agreement) The Seller intends to build, own and operate an electric power generation facility (the ∿acility), to be located near Mariveles, Bataan,įor the purpose of supplying its customers with environmentally clean electric power commencing in 2010 (the Project). Edna Cuyo-Auxtero, who are duly authorized to enter into this Memorandum of Agreement by a Resolution, a copy of which is hereto attached asĪnnex B and hereinafter referred to as the ∻uyerĮach of the Seller and the Buyer are hereinafter individually referred to asĪ Party, and together, as the Parties.Ī. Represented by its Vice President & Managing Director, Mr. Island law, licensed to do business in the Philippines through its Philippine Branch, Cypress Manufacturing Limited Philippine Branch, with principal office at Gateway Business Park, SEPZ, Brgy., Javalera, Gen. Is duly authorized to enter into this Memorandum of Agreement by a Resolution, a copy of which is hereto attached as Annex A and hereinafter referred to as the Seller,ĬYPRESS MANUFACTURING LTD., a corporation duly organized under the Cayman Road, Ortigas Center, Pasig City 1605, Metro Manila, Philippines and represented herein by its Senior Vice President, Mr. Under Philippine Law, with principal office at 1905 Orient Square Building, Don Francisco Ortigas Jr. CO., a duly registered limited partnership organized Of the 6th day of September, 2006 at Pasig City, by and between: This Memorandum of Agreement is made and executed as CONFIDENTIAL PORTIONS OF THIS DOCUMENT HAVE BEEN REDACTED AND HAVE BEEN SEPARATELY FILED WITH THE SECURITIES AND EXCHANGE COMMISSION The independent American Arbitration Association will count the ballots on Thursday, July 6.CONFIDENTIAL TREATMENT REQUESTED. Itinerant members in those job titles and UFT members in any other functional chapter will vote by mail ballot. The deadline for the receipt of the mail ballots is Wednesday, July 5. ![]()
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