[Termination on a Board Break Point Date

46.3  Without prejudice to its rights under Clause 46.2 (Voluntary Termination), the Board may terminate the Agreement on any of the Board Break Point Dates by complying with its obligations under paragraph (a) below:

(a)  If the Board wishes to terminate the Agreement under this Clause, it must give notice to Project Co stating

(i)  that the Board is terminating the Agreement under this Clause 46.2 (Termination on a Board Break Point Date);

(ii)  that the Agreement will terminate on the specified Board Break Point Date, which must be a minimum of [30] days after the date of receipt of the notice; and

(b)  Provided the notice has been provided in accordance with paragraph (a) above, the Agreement will terminate on the specified Board Break Point Date.]146   

 




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146 In addition to a general right to terminate at any time, a Board may consider whether it would be beneficial to have the option to terminate the Agreement on specified dates ("Board Break Point Dates") for a specified compensation amount for equity and Junior Debt.  Any Health Board wishing to include this drafting must consult the Scottish Government Health Directorates.