Annual Concession Fee Sample Clauses

Annual Concession Fee. 25.3.1 Without prejudice to the provisions of Clause 25.1 and Clause 25.2, the Concessionaire agrees to pay to the Authority an amount of Rupees [***] to be calculated at the rate of 1% (one per cent) of the prevailing circle rates for the entire site as on the 30 (thirty) days prior to the Scheduled Completion Date, as consideration for the Project ("Annual Concession Fee"). 25.3.2 The Parties hereto acknowledge and agree that the Annual Concession Fee as specified in Clause 25.3.1 (the "Base Annual Concession Fee") shall be revised annually on April 1; provided, however, that such revision shall not be effected until a period of 6 (six) months has elapsed from the date of the immediately preceding determination of Annual Concession Fee hereunder. for e.g. if the concession agreement is signed after 6 months of the financial year (say October 10, 2019) the next revision with Composite Price Index will take place w.e.f. April 1, 2021, at the same time for Scheduled Completion Date on or before 30th September 2019 the revision of Annual Concession Fee with Composite Price Index will be effective from April 1, 2020. 25.3.3 The Authority hereby acknowledges and agrees that it is not entitled to any revision of Annual Concession Fee except in accordance with the express provisions of this Agreement. 25.3.4 The date of payment of Annual Concession Fees shall be extended on account of extension in Scheduled Completion Date, if any, due to Force Majeure conditions set forth in Article 30 herein.

Annual Concession Fee. 20.2.1 Without prejudice to the provisions of Clause 20.2, the Concessionaire agrees to pay to Maha-Metro, every year, an Annual Concession Fee of Rs (in words), as quoted by it in the Financial Bid. 20.2.2 The Annual Concession Fees shall be escalated by 5% every year on compounding basis. The first of such escalation shall be applied on the fees payable to the fees payable for the 5th year of signing of concession agreement. 20.2.3 The Annual Concession Fees shall commence immediately at the end of moratorium period (i.e. at the beginning of 37th month from the date of signing of Concession Agreement. 20.2.4 The Annual Concession Fees shall be paid on yearly basis and shall be paid in advance i.e. 30 days before the start of the year. 20.2.5 The Annual Concession Fees shall be paid in the form of NEFT/RTGS/Online Transfer /Cheque in Bank Account of Maha-Metro. The bank account details of Maha-Metro are as follows – 20.2.6 Failure to pay the Annual Concession Fee on due date shall attract interest @ SBI base rate plus 3% OR 15% per annum, whichever is higher, for the unpaid period up to 90 (ninety) days. If the Annual Concession Fee remains unpaid for a period exceeding 90 (ninety) days from the due date, Maha-Metro shall recover amount of Annual Concession Fee from the Security Deposit submitted by the Concessionaire. Upon such encashment and appropriation from the Security Deposit submitted as a security against the payment, the Concessionaire shall, within 30 (thirty) days thereof, provide a fresh the Security Deposit for amount equivalent to the amount of the Security Deposit, as encashed by Maha-Metro for the payment of Annual Concession Fees. Unable to provide the Security Deposit within 30 days period shall make the Agreement liable for termination. 20.2.7 In case, the Concessionaire makes default/delay in payment of Annual Concession Fee for 03 (Three) times during the entire Concession Period, the Concession Agreement shall be liable for termination as per the provision of ARTICLE 27 TERMINATION& SUBSTITUTION of this Agreement.

Annual Concession Fee a. In consideration of the rights, privileges and interests granted by the Concessioning Authority to the Concessionaire in terms of the Agreement, the Concessionaire shall pay to the Concessioning Authority or its nominee / designated recipient an Annual Concession Fee of Rs 12 Lacs (Rupees Twelve Lacs only) and service tax as applicable from time to time. b. The Annual Concession Fee shall be increased, after every 5 years, at the rate of 10 % (ten percent), over the previous Annual Concession Fee. c. The first Annual Concession Fee shall be due and payable from the date of completion of 8 th year, starting from the Appointed Date and accordingly, the Concessionaire shall deposit the Annual Concession Fee 7 (seven) days prior to the same date every year, throughout the Concession Period. For Illustration, if the date of completion of 7th year, from the Appointed Date, is 20th June, the Concessionaire shall have to deposit the Annual Concession Fee on or before 7th of June every year during the Concession Period. d. The Annual Concession Fee shall be payable by the Concessionaire to the Concessioning Authority or its nominee / designated recipient at the Concessioning Authority’s or its nominee’s / designated recipient’s bank account at a scheduled bank (to be intimated later on) payable at Raipur.

Annual Concession Fee. 24.3.1 Annual Concession Fee (“ACF” ): In consideration of the grant of the Concession, the Concessionaire shall during the Concession Period, pay to the Authority by way of concession fee a sum of Rs. 1,00,000/- (Rupees One Lakhs) per annum, payable on or before the Appointed Date escalated @ 10% in every three years 24.3.2 First payment of ACF shall be made on a pro-rata basis (calculated as the number of days between the Appointed Date and 31st March of the following year. The payment shall be due on or before the 1st Anniversary of the Appointed Date, i.e. due date for the first payment of ACF. Every subsequent payment of ACF shall be due and payable within 15 (fifteen) days of the commencement of the Accounting Year. 24.3.3 The Annual Concession Fee payable under this Clause 24.3, shall be deemed to be part of the Project Consideration for the purposes of this Agreement.

Annual Concession Fee. Annual Concession Feemeans Fee payable by the Concessionaire to the Authority (BRBN) annually in lieu of the Concession during the Concession Period. Annual Concession Fee shall be subject to increment by 15% every 3 years during the Concession Period over last reset year. (a) First Annual Concession Fee payable for the 1st year of the concession period shall be amount equivalent to Rs (amount quoted by Preferred Bidder) for the first year as quoted by the Preferred Bidder in their Financial Proposal submitted for the Bid. For clarity by way of explanation, the following example may be referred – If the Preferred Bidder has quoted First Year Concession Fee as Rs 100/- then the Annual Premium payable for the first 3 years shall be Rs 100/- for each year. However from the fourth year till sixth year the amount payable shall be Rs 115/- each year. From the seventh year till the ninth year the amount payable shall be Rs 132.25/- each year, till the end of expiry of Concession Period or termination of the Agreement, whichever is earlier. (b) The Concessionaire shall, with effect from the Appointment Date and during the Concession period, pay to the BRBN the Concession Fee in each Financial Year of the Concession Period. The Concession Fee shall be payable by the Concessionaire to the BRBN one installment on every anniversary of the Appointment Date. The First Years concession fees shall be payable on or before the Appointment Date. (c) In the event of delay of upto 4 weeks by the Concessionaire in the payment of the Concession Fee from the date the Concession Fee is due and payable, the Concessionaire shall be required to pay BRBN; interest thereon at the rate of SBI PLR plus two percent per annum from due date until the date of such payment. Any delay in the payment of the Concession Fee beyond such four weeks shall constitute a Concessionaire Event of Default shall entitle the BRBN to terminate this Agreement under the provisions of Article 16.

Annual Concession Fee. The Concessionaire shall pay to NHIDCL, an Annual Concession Fee in terms of the below mentioned provisions: i. Subject to provisions of this Agreement and in consideration of the Concessionaire accepting the Concession and undertaking to perform and discharge its obligations in accordance with the terms, conditions and covanents set forth in this Agreement, Concessionaire agrees and undertakes to pay to NHIDCL a Concession Fee of Rs. only) (“the Concession Fee” or the “Annual Recurring Fee”) to be paid each Year for the entire duration of Concession Period. Payment of the Concession Fee shall be due and payable from SPCD or COD whichever is earlier. Such Concession Fee shall be increased year on year @ 5% per annum. ii. The Annual Recurring Fee shall be payable in advance on a quarterly basis for each quarter of the respective Year within 15 days from the start of every quarter. iii. For the purpose of payment of Annual Recurring Fee, the quarter shall be from January to March, April to June and so forth for every year of the Concession Period. iv. In case where the payment of Annual Recurring Fee is to be done for a part of the quarter the same shall be done on a pro-rata basis. Non-payment of the Concession Fee at the stipulated time above shall be construed as Concessionaire Event of Default and would be dealt as per Article 10 of this Agreement.

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Annual Concession Fee. 20.2.1 Without prejudice to the provisions of Clause 20.2, every year the Concessionaire agrees to pay to Maha-Metro an Annual Concession Fee in the form of percentage (%) of Project Revenue (the “Revenue Share”) or the minimum guarantee amount (determined as per Clause 20.2.2), which ever is higher.

Annual Concession Fee. 4.1.1. The Operator shall pay to DTTDC an annual amount Rs (Rupees ) as Annual Concession Fee (the “Annual Concession Fee”).The Annual Concession Fee shall be increased by 18% of the previous value, at the end of every three years from the date of signing of Agreement. 4.1.2. Annual Concession Fee shall become payable from the date of signing of Agreement till the end of the Agreement Period. Operator shall make lump sum payments of Annual Concession Fee to Authority at the beginning of every year, not later than 10 days after the commencement of that particular year. The first instalment of Annual Concession Fee shall be made prior to signing of Agreement. All taxes, levies and charges as applicable and payable by the DTTDC to GNCTD or GoI with respect to the collection of the Annual Concession Fee shall have to be paid by the Operator along with and in addition to the payment of Annual Concession Fee. For avoidance of doubt, it is clarified that DTTDC shall be entitled to receive Annual Concession Fee as well as all applicable taxes from Operator, whether payable by DTTDC or Operator. 4.1.3. In case if the Operator requires additional area other than shown in Schedule A as part of Project Facility, Operator shall have the right to request DTTDC to provide the same. DTTDC shall have the option to approve or not approve such request. In case DTTDC decides to grant such additional area, Operator shall be liable to pay additional Annual Concession Fee on pro rata basis for the additional area along with the specified Annual Concession Fee for the remaining duration of Agreement Period.