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  • Execution Version

    M a j o r S u b - c o n t r a c t o r ' s D i r e c t D e e d

    relating to

    Transmission Gully PPP

    The New Zealand Transport Agency, a crown entity established on

    1 August 2008 by section 93 of the Land Transport Management

    Act 2003

    the Transport Agency

    and

    [insert name of major sub-contractor] Limited

    Major Sub-contractor

    and

    Wellington Gateway Partnership No. 2 LP

    Contractor

    Date

  • Execution Version

    DOC REF 15824226_7

    Major Sub-contractor's Direct Deed Transmission Gully PPP i

    Contents

    1. Definitions ................................................................................................................... 1

    2. Interpretation .............................................................................................................. 4

    3. Acknowledgements by Major Sub-contractor .......................................................... 6

    4. Acknowledgements in relation to Major Sub-contract ............................................. 7

    5. Acknowledgements in relation to Parent Company Guarantee............................... 8

    6. Restrictions on termination and suspension............................................................ 9

    7. Notices by Major Sub-contractor ............................................................................. 11

    8. Step-in by the Transport Agency ............................................................................. 12

    9. Step-in using Additional Obligor ............................................................................. 13

    10. Indemnity by Contractor .......................................................................................... 15

    11. Transport Agency’s novation rights ........................................................................ 15

    12. Rights to terminate – Intervention Failure .............................................................. 19

    13. Warranties and acknowledgments .......................................................................... 21

    14. General Undertakings............................................................................................... 22

    15. Relationship of parties ............................................................................................. 25

    16. Termination ............................................................................................................... 26

    17. Insurance................................................................................................................... 26

    18. Dispute resolution .................................................................................................... 27

    19. Assignment ............................................................................................................... 27

    20. Notices ...................................................................................................................... 28

    21. Defects Liability Period ............................................................................................ 28

    22. Vector Deed ............................................................................................................... 29

    23. General ...................................................................................................................... 30

  • Execution Version

    DOC REF 15824226_7

    Major Sub-contractor's Direct Deed Transmission Gully PPP ii

  • Execution Version

    DOC REF 15824226_7

    Major Sub-contractor's Direct Deed Transmission Gully PPP 1

    This Major Sub-contractor's Direct Deed is made on 2014

    between (1) The New Zealand Transport Agency, a crown entity established on 1 August 2008 by section 93 of the Land Transport Management Act 2003 (Transport Agency)

    and (2) [insert name of major sub-contractor] Limited (Major Sub-contractor)

    and (3) Wellington Gateway Partnership No. 2 LP (Contractor)

    Introduction

    A. The background to the Project is set out in the Project Agreement.

    B. The Contractor has subcontracted its obligations under the Project Agreement to [insert description of subcontracted obligations] to the Major Sub-contractor, pursuant to the Major Sub-contract.

    C. The parties agree that the Transport Agency will have the option of exercising certain rights in relation to the Major Sub-contract, on the terms set out in this Deed.

    It is agreed

    Part 1 – Definitions and Interpretation

    1. Definitions

    1.1 Project Agreement

    Definitions in the Project Agreement apply in this Deed unless the relevant term is defined in this Deed.

    1.2 Definitions

    In this Deed, unless the context otherwise requires, the following terms have the following meanings:

    Additional Obligor means an entity that is wholly owned by the Transport Agency or a Successor Governmental Entity;

    Additional Obligor Step-in Notice has the meaning given to it in clause 8.1(a)(iv);

    Additional Obligor Step-out Date has the meaning given to it in clause 9(d);

    Affiliate means in respect of the Major Sub-contractor or the Contractor (as applicable):

    (a) any holding company or subsidiary of the Major Sub-contractor or the Contractor (as applicable) or another subsidiary of that holding company; or

  • Execution Version

    DOC REF 15824226_7

    Major Sub-contractor's Direct Deed Transmission Gully PPP 2

    (b) any company, body corporate or partnership (including a limited partnership) where 50% or more of the votes exercisable, directly or indirectly, at a meeting or partners meeting, or more than 50% of the profits of which, are controlled by such person;

    Assumption Date has the meaning given to it in clause 9(a);

    Builder Consent Deed means the deed entitled ‘Builder Consent Deed – Transmission Gully PPP Project’ dated on or about the date of this Deed between the Contractor, the Major Sub-contractor and the Security Trustee; [Definition is only applicable for the Direct Deed with the Construction Sub-contractor]

    Consent Date has the meaning given to it in clause 11.4(a);

    Contractor Default has the meaning given to it (or to the term “Event of Default” as that term relates to the default of the Contractor) in the Major Sub-contract;

    Contractor’s Rights has the meaning given to it in clause 9(b)(i)(A);

    Default Event means:

    (a) any breach by the Contractor of its obligations under the Major Sub-contract; or

    (b) any other event or circumstance,

    that alone or with the giving of notices or passage of time or both, entitles the Major Sub- contractor to terminate, rescind, accept the repudiation of, or suspend [(other than a Payment Suspension Event which shall not be a Default Event under this Deed)] any or all of the Major Sub-contractor’s obligations under the Major Sub-contract but only where any such breach, event or circumstances has not been remedied within any relevant cure period set out in the Major Sub-contract or at Law; [insert is only applicable for the Direct Deed with the Construction Sub-contractor]

    Default Event Notice has the meaning given to it in clause 6.2(a);

    Intervention Failure has the meaning given to it in clause 12.1 (Rights preserved);

    Major Sub-contract means that agreement dated on or around the date of this Deed between the Contractor and the Major Sub-contractor, with respect to the Project;

    Major Sub-contract Documentation means the Major Sub-contract and each other bank guarantee, performance bond, stand-by letter of credit or other guarantee or security held by the Contractor to secure the obligations of the Major Sub-contractor under the Major Sub- contract;

    Major Sub-contractor Notice has the meaning given to it in clause 6.2(c);

    MSDD Dispute has the meaning given to in clause 18 (Dispute resolution);

    Notice of MSDD Dispute has the meaning given to it in clause 18 (Dispute resolution);

    Novation Agreement has the meaning given to it in clause 11.4(b)(ii);

    Novation Effective Date means the date of commencement of the performance of the obligations under the Novation Agreement, as set out in the Novation Agreement;

    O&M Consent Deed means the deed entitled ‘O&M Consent Deed – Transmission Gully PPP Project’ dated on or about the date of this Deed between the Contractor, the Major Sub-

  • Execution Version

    DOC REF 15824226_7

    Major Sub-contractor's Direct Deed Transmission Gully PPP 3

    contractor and the Security Trustee; [Definition is only applicable for the Direct Deed with the O&M Sub-contractor]

    Parent Company means ;

    Parent Company Guarantee means the guarantee given by the Parent Company in respect

    of the obligations of the Major Sub-contractor in favour of, amongst others, the Contractor;

    Power means any power, right, authority, discretion or remedy, whether express or implied;

    Project Agreement means that agreement dated on or around the date of this Deed,

    between the Contractor and the Transport Agency, with respect to the Project;

    Proposed Novation Date has the meaning given to it in clause 11.1(b);

    Proposed Novation Notice has the meaning given to it in clause 11.1(a);

    Prop