Common use of Compensation for default by the Authority Clause in Contracts

Compensation for default by the Authority. Subject to the provisions of Clause 24.4, in the event of the Authority being in material default or breach of this Agreement at any time after the Project Commencement Date, it shall pay to the Concessionaire by way of compensation, all direct costs suffered or incurred by the Concessionaire as a consequence of such material default within 30 (thirty) days of receipt of the demand supported by necessary particulars thereof; provided that no such compensation shall be payable for any breach or default in respect of which Damages have been expressly specified in this Agreement. For the avoidance of doubt, compensation payable may include interest payments on debt, O&M Expenses and for determining such compensation, information contained in the Financial Package and the Financial Model may be relied upon to the extent it is relevant.

Compensation for default by the Authority. Subject to the provisions of Clause 24.425.4, in the event of the Authority being in material default or breach of this Agreement at any time after the Project Commencement Appointed Date, it shall pay to the Concessionaire by way of compensation, all direct costs suffered or incurred by the Concessionaire as a consequence of such material default within 30 (thirty) days of receipt of the demand supported by necessary particulars thereof; provided that no such compensation shall be payable for any breach or default in respect of which Damages have been expressly specified in this Agreement. For the avoidance of doubt, compensation payable may include interest payments on debt, O&M Expenses and for determining such compensation, information contained in the Financial Package and the Financial Model may be relied upon to the extent it is relevant.

Compensation for default by the Authority. Subject to the provisions of Clause 24.426.3, in the event of the Authority being in material default or breach of this Agreement at any time after the Project Commencement Appointed Date, it shall pay to the Concessionaire by way of compensation, all direct costs suffered or incurred by the Concessionaire as a consequence of such material default within 30 (thirty) days of receipt of the demand supported by necessary particulars thereof; provided that no such compensation shall be payable for any breach or default in respect of which Damages have been expressly specified in this Agreement. For the avoidance of doubt, compensation payable may include interest payments on debt, O&M Expenses and for determining such compensation, information contained in the Financial Package and the Financial Model may be relied upon to the extent it is relevant.