Common use of Annual Concession Fee Clause in Contracts

Annual Concession Fee. 26.3.1 Without prejudice to the provisions of Clause 26.1 and Clause 26.2, the Concessionaire agrees to pay to the Authority an amount of Rupees [***] to be calculated at the rate of 2% (two per cent) of the prevailing circle rates as on the [30] (thirty) days prior to the Effective Date, as consideration for the Commercial Complex (“Annual Concession Fee”). 26.3.2 The Parties hereto acknowledge and agree that the Annual Concession Fee as specified in Clause 26.3.1 (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, 2014) the next revision with 5%CAGR will take place wef April 1, 2016 , at the same time for agreement executed on or before 30 th September 2014 the revision of ACF with 5% CAGR will be effective from April 1, 2015 . 26.3.3 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.

Annual Concession Fee. 26.3.1 Without prejudice to the provisions of Clause 26.1 and Clause 26.2, the Concessionaire agrees to pay to the Authority an amount of Rupees [***] to be calculated at the rate of 2% (two per cent) of the prevailing circle rates as on the [30] (thirty) days prior to the Effective Date, as consideration for the Commercial Complex (“Annual Concession Fee”). 26.3.2 The Parties hereto acknowledge and agree that the Annual Concession Fee as specified in Clause 26.3.1 (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, 2014) the next revision with 5%CAGR will take place wef April 1, 2016 , at the same time for agreement executed on or before 30 th September 2014 the revision of ACF with 5% CAGR will be effective from April 1, 2015 . 26.3.3 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.

Annual Concession Fee. Downloaded from 26.3.1 Without prejudice to the provisions of Clause 26.1 and Clause 26.2, the Concessionaire agrees to pay to the Authority an amount of Rupees [***] to be calculated at the rate of 2% (two per cent) of the prevailing circle rates as on the [30] (thirty) days prior to the Effective Date, as consideration for the Commercial Complex (“Annual Concession Fee”).. xxx.xxxxxx.xxx 26.3.2 The Parties hereto acknowledge and agree that the Annual Concession Fee as specified in Clause 26.3.1 (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, 2014) the next revision with 5%CAGR will take place wef April 1, 2016 , at the same time for agreement executed on or before 30 th September 2014 the revision of ACF with 5% CAGR will be effective from April 1, 2015 . 26.3.3 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.