Common use of Certified Accounts Clause in Contracts

Certified Accounts. During the subsistence of this Agreement, the Concessionaire shall maintain all documents and supporting evidences for its financial statements including agreements and documents with respect to all capital and debt raised by the Concessionaire, capital and revenue expenses towards the Project, ship/vessel/user wise information, and, as relevant, the details of cargo handled by category, tariffs charged and the amount of rates received. The Concessionaire shall submit to the Concessioning Authority a financial statement of the Gross Revenue for every 6 (six) monthly period ending 30th September and 31st March every year, duly certified by its Statutory Auditors. The certificate must be furnished within 30 (thirty) Days of the end of each such period. The Concessioning Authority shall, at its own cost, have the option to appoint another firm of chartered accountants duly licensed to practice in India (the “Additional Auditor”) to conduct a special audit of the Gross Revenue and the financial statements, documents and supporting evidences thereto as may be mandated by the Concessioning Authority and report to the Concessioning Authority such information as may be desired by the Concessioning Authority for any period and the Gross Revenue (“Special Audit”). In the event that the Gross Revenue reported by the Additional Auditor is higher than that reported by the Statutory Auditor, the auditors shall meet to resolve such differences and if they are unable to resolve the same the Concessionaire shall pay Royalty on the Gross Revenue reported by the Additional Auditor. The Concessionaire shall also pay interest @ SBI PLR plus 2% (two percent) on the difference between the Royalty paid by the Concessionaire based on the Gross Revenue reported by the Statutory Auditor and that payable by the Concessionaire based on the Gross Revenue reported by the Additional Auditor for the intervening period between the payment of the Royalties as above. Further the Concessionaire shall reimburse all costs, charges and expenses related to the Special Audit. Without prejudice to the aforesaid, if the difference between the Gross Revenue reported by the Additional Auditor and that reported by the Statutory Auditor is higher than [5]% (five percent), the Concessioning Authority shall at its sole discretion have the right to require a Special Audit for the entire outstanding tenure of the Concession.

Certified Accounts. During the subsistence of this Agreement, the Concessionaire shall maintain all documents and supporting evidences for its financial statements including agreements and documents with respect to all capital and debt raised by the Concessionaire, capital and revenue expenses towards the Project, ship/vessel/user wise information, and, as relevant, the details of cargo handled by category, tariffs charged and the amount of rates received, Charges payable to the Concessioning Authority etc. The Concessionaire shall should submit to the Concessioning Authority a financial statement of the Gross Revenue for every 6 (six) monthly period ending 30th September and 31st March every year, duly certified by its Statutory Auditors. The certificate must be furnished within 30 (thirty) Days of the end of each such period. The Concessioning Authority shall, at its own cost, have the option to appoint another firm of chartered accountants duly licensed to practice in India (the “Additional Auditor”) to conduct a special audit of the Gross Revenue and the financial statements, documents and supporting evidences thereto as may be mandated by the Concessioning Authority and report to the Concessioning Authority such information as may be desired by the Concessioning Authority for any period and the Gross Revenue (“Special Audit”). In the event that the Gross Revenue reported by the Additional Auditor is higher than that reported by the Statutory Auditor, the auditors shall meet to resolve such differences and if they are unable to resolve the same the Concessionaire shall pay Royalty on the Gross Revenue Charges reported by the Additional Auditor. The Concessionaire shall also pay interest @ SBI PLR plus 2@12% (two twelve percent) on the difference between the Royalty paid by the Concessionaire based on the Gross Revenue reported by the Statutory Auditor and that payable by the Concessionaire based on the Gross Revenue reported by the Additional Auditor amount for the intervening period between the payment of the Royalties as aboveperiod. Further Further, the Concessionaire shall reimburse all costs, charges and expenses related to the Special Audit. Without prejudice to the aforesaid, if the difference between the Gross Revenue reported by the Additional Auditor and that reported by the Statutory Auditor is higher than [5]% 5% (five percent), the Concessioning Authority shall at its sole discretion have the right to require a Special Audit for the entire outstanding tenure of the Concession.

Certified Accounts. During the subsistence of this Agreement, the Concessionaire shall maintain all documents and supporting evidences for its financial statements including agreements and documents with respect to all capital and debt raised by the Concessionaire, capital and revenue expenses towards the Project, ship/vessel/user wise information, and, as relevant, the details of cargo yacht handled by category, tariffs charged User Chargeslevied and the amount of rates received. The Concessionaire shall submit to the Concessioning Authority a financial statement of the Gross Revenue for every 6 (six) monthly period ending 30th September and 31st March every year, duly certified by its Statutory Auditors. The certificate must be furnished within 30 (thirty) Days of the end of each such period. The Concessioning Authority shall, at its own cost, have the option to appoint another firm of chartered accountants duly licensed to practice in India (the “Additional Auditor”) to conduct a special audit of the Gross Revenue and the financial statements, documents and supporting evidences thereto there to as may be mandated by the Concessioning Authority and report to the Concessioning Authority such information as may be desired by the Concessioning Authority for any period and the Gross Revenue (“Special Audit”). In the event that the quantity of Gross Revenue reported by the Additional Auditor is higher than that reported by the Statutory Auditor, the auditors shall meet to and resolve such differences within 30 (thirty) days (“Resolution Period”) from the date of such report by the Additional Auditor and thereafter if they are unable to resolve the same same, the Concessionaire shall pay Royalty on percentage share in the Gross Revenue reported by the Additional AuditorAuditor within 30 (thirty) days of the date of expiry of the resolution period. The Concessionaire shall also pay interest @ SBI PLR 10 year GSec plus 26% - (two Six percent) on the difference between the Royalty percentage share in the Gross Revenue paid by the Concessionaire based on the Gross Revenue reported by the Statutory Auditor and that payable by the Concessionaire based on the Gross Revenue reported by the Additional Auditor for the intervening period between the payment of the Royalties percentage share in the Gross Revenue as above. Further the Concessionaire shall reimburse all costs, charges and expenses related to the Special Audit. Without prejudice to the aforesaid, if the difference between the Gross Revenue reported by the Additional Auditor and that reported by the Statutory Auditor is higher than [5]% 5% (five percent), the Concessioning Authority shall at its sole discretion have the right to require a Special Audit for the entire outstanding tenure of the Concession.

Certified Accounts. During the subsistence of this Agreement, the Concessionaire shall maintain all documents and supporting evidences for its financial statements including agreements and documents with respect to respectto all capital and debt raised by the Concessionaire, capital and revenue expenses towards the ProjecttheProject, ship/vessel/user wise information, and, as relevant, the details of cargo handled by category, ,tariffs charged and the amount of rates received. The Concessionaire shall submit to the Concessioning Authority a financial statement including quantity (MT) of the Gross Revenue cargo handled for every 6 (six) monthly period ending 30th September and 31st March every year, duly certified by its Statutory Auditors. The certificate must be furnished within 30 90 (thirtyNinety) Days of the end of each such periodsuchperiod. The Concessioning Authority shall, at its own cost, have the option to appoint another firm of chartered accountants duly licensed to practice in India (the “Additional Auditor”) and empaneledby CAG to conduct a special audit of the Gross Revenue quantity (MT) of cargo handled and the financial statements, documents and supporting evidences thereto and compliances as may be mandated by orarising out of the Concessioning Authority Concession Agreement and report to the Concessioning Authority such information as informationas may be desired by the Concessioning Authority for any period and the Gross Revenue quantity (MT) of cargo handled (“Special Audit”). In the event that the Gross Revenue quantity (MT) of cargo handled reported by the Additional Auditor is higher than that reported by the Statutory Auditor, the auditors shall meet to resolve such differences and if they are unable to resolve the same the Concessionaire shall pay Royalty on the Gross Revenue quantity (MT) ofcargo/ TEUs handled reported by the Additional Auditor. The Concessionaire shall also pay interest @ SBI PLR plus 23% (two percent) above the Bank Rate on the difference between the Royalty paid by the Concessionaire based on the Gross Revenue reported quantity (MT) of cargo handledreported by the Statutory Auditor and that payable by the Concessionaire based on the Gross Revenue reported by quantity (MT) of cargo/TEUshandledreportedby the Additional Auditor for the intervening period between the payment of the Royalties as above. Further .Further, the Concessionaire shall reimburse all costs, charges and expenses related to the Special AuditSpecialAudit. Without prejudice to the aforesaid, if the difference between the Gross Revenue quantity (MT) of cargo handled reported by the Additional Auditor and that reported by the Statutory Auditor is higher than [5]% (five percent), than[5]% the Concessioning Authority shall at its sole discretion have the right to require a Special Audit for Auditfor the entire outstanding tenure of the Concession.

Certified Accounts. During the subsistence of this Agreement, the Concessionaire shall maintain all documents and supporting evidences for its financial statements including agreements and documents with respect to all capital and debt raised by the Concessionaire, capital and revenue expenses towards the Project, ship/vessel/user wise information, and. And, as relevant, the details of cargo passengers handled by category, tariffs fare charged and the amount of rates received. The Concessionaire shall submit to the Concessioning Authority a financial statement including number of the Gross Revenue passengers handled for every 6 (six) monthly period ending 30th September and 31st March every year, duly certified by its Statutory Auditors. The certificate must be furnished within 30 (thirty) Days of the end of each such period. The Concessioning Authority shall, at its own cost, have the option to appoint another firm of chartered accountants duly licensed to practice in India (the “Additional Auditor”) to conduct a special audit of the Gross Revenue passengers handled and the financial statements, documents and supporting evidences thereto as may be mandated by the Concessioning Authority and report to the Concessioning Authority such information as may be desired by the Concessioning Authority for any period and the Gross Revenue passenger (“Special Audit”). In the event that the Gross Revenue passenger handled reported by the Additional Auditor is higher than that reported by the Statutory Auditor, the auditors shall meet to resolve such differences and if they are unable to resolve the same the Concessionaire shall pay Royalty on the Gross Revenue revenue share passengers handled reported by the Additional Auditor. The Concessionaire shall also pay interest @ SBI PLR 10 year GSec plus 26% - (two Six percent) on the difference between the Royalty revenue share paid by the Concessionaire based on the Gross Revenue passengers handled reported by the Statutory Auditor and that payable by the Concessionaire based on the Gross Revenue passengers handled reported by the Additional Auditor for the intervening period between the payment of the Royalties revenue share as above. Further the Concessionaire shall reimburse all costs, charges and expenses related to the Special Audit. Without prejudice to the aforesaid, if the difference between the Gross Revenue passengers handled reported by the Additional Auditor and that reported by the Statutory Auditor is higher than [5]% (five percent), the Concessioning Authority shall at its sole discretion have the right to require a Special Audit for the entire outstanding tenure of the Concession.

Certified Accounts. During the subsistence of this Agreement, the Concessionaire shall maintain all documents and supporting evidences for its financial statements including agreements and documents with respect to all capital and debt raised by the Concessionaire, capital expenditure and revenue operational expenses towards the Project; user-wise, ship/vessel/user -wise information, and, as relevant, the details of ; cargo handled throughput by category, ; tariffs charged and the amount of rates money received. The Concessionaire shall submit to the Concessioning Authority a financial statement including quantity (MT) of the Gross Revenue cargo handled for every 6 (six) monthly period ending 30th September and 31st March every year, duly certified by its Statutory Auditors. The certificate must be furnished within 30 (thirty) Days of the end of each such period. The Concessioning Authority shallmay, at its own cost, have the option to appoint another a firm of chartered accountants duly licensed to practice in India and empanelled by CAG (the “Additional Auditor”) to conduct a special audit of the Gross Revenue cargo throughput and the financial statements, documents and supporting evidences thereto as may be mandated by the Concessioning Authority and report to the Concessioning Authority such information as may be desired by the Concessioning Authority for any period and the Gross Revenue (“Special Audit”). In the event that the Gross Revenue cargo throughput reported by the Additional Auditor is higher than that reported by the Statutory Auditor, the auditors shall meet to resolve such differences and if they are unable to resolve the same same, the Concessionaire shall pay Royalty on the Gross Revenue cargo throughput reported by the Additional Auditor. The Concessionaire shall also pay interest @ SBI PLR 10 year GSec plus 26% - (two Six percent) on the difference between in Royalty as per the Royalty paid by the Concessionaire based on the Gross Revenue cargo throughput reported by the Statutory Auditor and that payable by the Concessionaire based on the Gross Revenue reported by the Additional Auditor for the intervening period between the payment of the Royalties as aboveAuditor. Further Further, the Concessionaire shall reimburse all costs, charges and expenses related to the Special Audit. Without prejudice to the aforesaid, if the difference between the Gross Revenue cargo throughput reported by the Additional Auditor and that reported by the Statutory Auditor is higher than [5]% 5% (five percent), the Concessioning Authority shall at its sole discretion have the right to require a Special Audit for the entire outstanding tenure of the Concession.. Escrow account Withdrawals and appropriations during the Concession Period, at any relevant time, from the Escrow Account shall be in the following order of priority:

Certified Accounts. During the subsistence of this Agreement, the Concessionaire shall maintain all documents and supporting evidences for its financial statements including agreements and documents with respect to all capital and debt raised by the Concessionaire, capital and revenue expenses towards the Project, ship/vessel/user wise informationUser Charges levied, and, as relevant, the details of cargo handled by category, tariffs charged revenue received and the amount of rates receivedRented Area. The Concessionaire shall submit to the Concessioning Authority a financial statement of and the Gross Revenue User Charges levied, revenue received and the Rented Area for every 6 (six) monthly period ending 30th September and 31st March every year, duly certified by its Statutory Auditors. The certificate must be furnished within 30 (thirty) Days of the end of each such period. The Concessioning Authority shall, at its own cost, have the option to appoint another firm of chartered accountants duly licensed to practice in India (the “Additional Auditor”) to conduct a special audit of the Gross Revenue Rental share paid, the Rented Area and the financial statements, documents and supporting evidences thereto as may be mandated by the Concessioning Authority and report to the Concessioning Authority such information as may be desired by the Concessioning Authority for any period and also provide reports regarding the Gross Revenue Rental share paid and the Rented Area (“Special Audit”). In the event that the Gross Revenue Rental share paid and the Rented Area reported by the Additional Auditor is higher than that reported by the Statutory Auditor, the auditors shall meet to resolve such differences and if they are unable to resolve the same the Concessionaire shall pay Royalty Rental Share based on the Gross Revenue actual Rental share to be paid as per the Rented Area reported by the Additional Auditor. The Concessionaire shall also pay interest @ SBI PLR plus 2% (two percent) on the difference between of Rental Share paid in the Royalty paid by manner as referred to in the Concessionaire based on the Gross Revenue reported by the Statutory Auditor and that payable by the Concessionaire based on the Gross Revenue reported by the Additional Auditor for the intervening period between the payment of the Royalties as Clause 9.3 above. Further the Concessionaire shall reimburse all costs, charges and expenses related to the Special Audit. Without prejudice to the aforesaid, if the difference between the Gross Revenue reported by the Additional Auditor and that reported by the Statutory Auditor is higher than [5]% (five percent), the Concessioning Authority shall at its sole discretion have the right to require a Special Audit for the entire outstanding tenure of the Concession.

Certified Accounts. During the subsistence of this Agreement, the Concessionaire shall maintain all documents and supporting evidences for its financial statements including agreements and documents with respect to all capital and debt raised by the Concessionaire, capital and revenue expenses towards the Project, ship/vessel/user wise information, and, as relevant, the details of cargo handled by category, tariffs charged and the amount of rates received, Royalty and Charges payable to the Concessioning Authority for Captive Use. The Concessionaire shall submit to the Concessioning Authority a financial statement of the Gross Revenue for every 6 (six) monthly period ending 30th September and 31st March every year, duly certified by its Statutory Auditors. The certificate must be furnished within 30 (thirty) Days of the end of each such period. The Concessioning Authority shall, at its own cost, have the option to appoint another firm of chartered accountants duly licensed to practice in India (the “Additional Auditor”) to conduct a special audit of the Gross Revenue and the financial statements, documents and supporting evidences thereto as may be mandated by the Concessioning Authority and report to the Concessioning Authority such information as may be desired by the Concessioning Authority for any period and the Gross Revenue (“Special Audit”). In the event that the Gross Revenue reported by the Additional Auditor is higher than that reported by the Statutory Auditor, the auditors shall meet to resolve such differences and if they are unable to resolve the same the Concessionaire shall pay Royalty on the Gross Revenue and Charges reported by the Additional Auditor. The Concessionaire shall also pay interest @ SBI PLR plus 2% (two percent) on the difference between the Royalty along with Charges paid by the Concessionaire based on the Gross Revenue reported by the Statutory Auditor and that payable by the Concessionaire based on the Gross Revenue reported by the Additional Auditor for the intervening period between the payment of the Royalties along with Charges as above. Further the Concessionaire shall reimburse all costs, charges and expenses related to the Special Audit. Without prejudice to the aforesaid, if the difference between the Gross Revenue reported by the Additional Auditor and that reported by the Statutory Auditor is higher than [5]% 5% (five percent), the Concessioning Authority shall at its sole discretion have the right to require a Special Audit for the entire outstanding tenure of the Concession.

Certified Accounts. During the subsistence of this Agreement, the Concessionaire shall maintain all documents and supporting evidences for its financial statements including agreements and documents with respect to all capital and debt raised by the Concessionaire, capital and revenue expenses towards the Project, ship/vessel/user wise information, and. And, as relevant, the details of cargo passengers handled by category, tariffs fare charged and the amount number of rates received. The Concessionaire shall submit to the Concessioning Authority a financial statement including number of the Gross Revenue passengers handled for every 6 (six) monthly period ending 30th September and 31st March every year, duly certified by its Statutory Auditors. The certificate must be furnished within 30 (thirty) Days of the end of each such period. The Concessioning Authority shall, at its own cost, have the option to appoint another firm of chartered accountants duly licensed to practice in India (the “Additional Auditor”) to conduct a special audit of the Gross Revenue passengers handled and the financial statements, documents and supporting evidences thereto as may be mandated by the Concessioning Authority and report to the Concessioning Authority such information as may be desired by the Concessioning Authority for any period and the Gross Revenue passenger (“Special Audit”). In the event that the Gross Revenue passenger handled reported by the Additional Auditor is higher than that reported by the Statutory Auditor, the auditors shall meet to resolve such differences and if they are unable to resolve the same the Concessionaire shall pay Royalty on the Gross Revenue revenue share passengers handled reported by the Additional Auditor. The Concessionaire shall also pay interest @ SBI PLR 10 year GSec plus 26% - (two Six percent) on the difference between the Royalty revenue share paid by the Concessionaire based on the Gross Revenue passengers handled reported by the Statutory Auditor and that payable by the Concessionaire based on the Gross Revenue passengers handled reported by the Additional Auditor for the intervening period between the payment of the Royalties revenue share as above. Further the Concessionaire shall reimburse all costs, charges and expenses related to the Special Audit. Without prejudice to the aforesaid, if the difference between the Gross Revenue passengers handled reported by the Additional Auditor and that reported by the Statutory Auditor is higher than [5]% (five percent), the Concessioning Authority shall at its sole discretion have the right to require a Special Audit for the entire outstanding tenure of the Concession.