3.2.2.2 Change in Applicable Law -
Changes will be defined by reference to the qualifying elements of Applicable Law. In some jurisdictions, a change in interpretation of Applicable Law could also have a major impact on the Private Partner's ability to deliver and operate a PPP Project even though the Applicable Law itself has not changed, so the definition of a change should take this into account.
| CIVIL AND COMMON LAW DIFFERENCES Depending on the jurisdiction, it may be appropriate for the definition of change in law also to include any modification in the interpretation or application of any Applicable Law. This is particularly likely in common law jurisdictions. See Section 3.3, Sample Drafting 3, Required Definitions, "Change in Law" definition. |