Concession Agreements. The Association is not by this Agreement granted the right to sell items, the sale of which would infringe on a concession contract between the Department and a third party. However, the Association may request of the Department that any concession contract(s) at the park exclude/include specific items currently being distributed by the Association, and, within its sole discretion, the Department will consider including such conditions in existing or pending contracts.
Concession Agreements. Borrower hereby represents and warrants to Lender the following with respect to each of the Concession Agreements:
(i) Borrower has heretofore provided Lender with a true and correct copy of the Concession Agreement; (ii) there have not been amendments or modifications to the terms of the Concession Agreements other than pursuant to written instruments, copies of which have been previously provided to Lender; (iii) Mortgage Borrower’s interests in the Concession Agreements are not subject to any Liens or encumbrances superior to, or of equal priority with, the Mortgage; and (iv) as of the date hereof, each of the Concession Agreements is in full force and effect and no default by Mortgage Borrower, or to the best knowledge of Borrower, any other party thereto has occurred under either of the Concession Agreements and there is no existing condition which, but for the passage of time or the giving of notice, could result in a default under the terms of either the Concession Agreements.
Concession Agreements. Borrower shall cause Mortgage Borrower to (a) cause the parking areas to be operated pursuant to the related Concession Agreements; (b) promptly perform and/or observe in all material respects all of the covenants, agreements and obligations required to be performed and observed by Mortgage Borrower under the Concession Agreements and do all things necessary to preserve and to keep unimpaired its material rights thereunder; (c) promptly notify Lender of any default under any Concession Agreements upon becoming aware of the same; (d) to the extent reasonably requested by Lender, promptly deliver to Lender a copy of each financial statement, business plan, capital expenditures plan, notice, report and estimate received by Mortgage Borrower under the Concession Agreements; and (e) promptly enforce to the extent commercially reasonable the performance and observance of all of the covenants and agreements required to be performed and/or observed by the Operator under the Concession Agreements.
Concession Agreements. Notwithstanding anything herein to the contrary, all Concession Agreements (as hereinafter defined) permitted in this Section 19.10 shall at all times
(a) be pursuant to terms consistent with arms-length transactions with parties who are not Prohibited Persons, (b) be for the purpose of concession sales only, and (c) shall specifically be for Coliseum Uses. Subject to the foregoing requirements and conditions, Tenant shall have the right to grant any and all such licenses, concessions and franchises to any party and to enter into any agreements or contracts with regard to the same (but not sublets except in accordance with the provisions of Section 19.3 of this Lease) (collectively, the "Concession Agreements"), and any and all Concession Agreements shall be subject and subordinate to this Lease, and shall have a term that expires prior to the expiration of the Lease Term. Tenant shall give Landlord a copy of all executed Concession Agreements within twenty (20) calendar days following the execution thereof.
Concession Agreements. Landlord shall include, or require the inclusion of, the foregoing provisions of this Section 26.2 (with the terms “Landlord” and “District” appropriately modified) in every agreement or concession agreement pursuant to which any persons other than Landlord operates or has the right to operate in the Facility. Landlord shall take such action with respect to any such agreement as the District may reasonably direct as a means of enforcing this Section 26.2, including without limitation the termination of such agreement or concession.
Concession Agreements. Foundation may enter into concession agreements for the provision of services to the public that are compatible with or assessory to park and recreation purposes on the Premises. All foods, beverages, confectionery, refreshments, or other items, sold or kept for sale shall conform in all respects to federal, state and municipal laws, ordinances and regulations. Foundation shall require all concessionaires operating under their authority to obtain at their own expense any and all permits or licenses that may be required in connection with the operation of any concession. Any concession agreement entered into by Foundation shall only be a license to provide services on the Premises and shall not constitute an interest in the real property of the Premises. Any and all concession agreements shall terminate upon Foundation’s assignment of this Lease or other termination of Foundation’s interest in the Premises.
Concession Agreements. A concession agreement is entered into between a public- sector entity and the project company (the figure), under which the project company must operate and the types and period of concession are specified. For instance, the concession may state that the firm finances, upgrades, build, maintains, and operates a road for 20-30 years, in a road project, before transferring ownership to the government.7 Additionally, under this contract, the aim of the project is to provide a service rather than product to the public-sector entity or to the public.8The concession agreement contains the detailed obligations and rights of the parties and also creates the right and obligation to build, own and transfer ownership to the host government infrastructure used for the general benefit of the population. Therefore, It should clearly state the rights such as terms and duration of the concession, capacity of extending the concession even if there are changes in the law, termination of the concession, and ability of banks to freely transfer the concession to a third party.9 1Hoffman, loc. cit. 2ibid., p. 210, 211. 3Yescombe, op. cit., p. 71. 4Hoffman, op. cit., p. 211. 5Professor A Xxxxxx,xxx. cit.
Concession Agreements. A concession contract is one possible arrangement governments can use to raise the necessary funds to finance revenue-generating projects when their access to traditional sources of capital is constrained or undesirable. Examples of projects that can be funded using concession ar- rangements include roads, bridges, tunnels, power plants, pipelines, industrial plants, and office buildings. This type of arrangement requires the involvement of several companies (the pro- moting team) to finance the project, perform the design, execute and manage its construction, and be responsible for the operation and maintenance of the facility. Depending on the nature of the project, the promoting team might include construction companies, engineering firms, equipment and material suppliers, plant operators, utility companies, and customers of the fa- cility. Figure 1 illustrates possible contractual relationships (dashed lines) and flows of capital (solid lines) among the different participants of a concession-financed project. The shaded boxes indicate those participants that can either be part of the promoting team or serve as external providers of services. The amount of time promoters have to construct, operate and maintain a facility before trans- ferring its ownership to the project sponsor (usually the government) is known as the concession period. Projects that have finite concession periods are called BOT (Build-Operate-Transfer) projects, otherwise they are called BOO (Build-Operate-Own) projects. In Build-Operate-Transfer (BOT) projects, the sponsor provides a concession that permits a promoting team to build a facility and to operate it for a specific amount of time. Project promoters use the revenues produced during the concession period to pay back lenders, other shareholders, and to get a return on their investment. After the concession period has elapsed, the operation of the facility and its revenues are transferred to the sponsor that infused, at the time of construction, very few monetary resources. One very well publicized example of this method is the Channel Tunnel project linking France and the UK by rail. Build-Operate-Own (BOO) projects should also produce revenues from their cash flows to cover debt, operation and maintenance costs and to return profit gains to promoter companies. However, project promoters have an unlimited amount of time to operate the facility as well as full ownership of the underlying assets. Actual examples of such project...
Concession Agreements. Tenant shall include, or require the inclusion, of the foregoing provisions of this section (with the terms "Tenant" and "District" appropriately modified) in each Sublease and other agreement or concession agreement pursuant to which any persons other than Tenant operates or has the right to operate the facility. Tenant shall take such action with respect to such agreement as the District may direct as a means of enforcing this section, including without limitation the termination of such agreement or concession.
Concession Agreements. The concession agreements and power purchase agreements described in the Registration Statement, the General Disclosure Package and the Prospectus and entered into between the Company and/or its subsidiaries, on the one hand, and the relevant governmental or regulatory authority or other person, on the other hand (i) have been duly authorized, executed and delivered and constitute valid and legally binding agreements of the Company and/or such subsidiary, as applicable, and none of the Company or any of its subsidiaries has received any notice of termination, revocation or modification with respect to any such concession agreements or power purchase agreements, as the case may be, except for any modification that is described in the Registration Statement, the General Disclosure Package and the Prospectus or any termination, revocation or modification that, individually or in the aggregate, would not reasonably be expected to result in a Material Adverse Effect; (ii) to the extent such concessions or related projects are under construction, they will comply in all material respects with all applicable laws and regulations and with their respective concession or power purchase agreements, except for any non-compliance that, individually or in the aggregate, would not reasonably be expected to result in a Material Adverse Effect; and (iii) the financial and operating information included in the Registration Statement, the General Disclosure Package and the Prospectus with respect to such concessions and power purchase agreements has been properly prepared after due and careful enquiry and is accurate in all material respects.
