Concession Period. 3.2.1 Subject to early termination in accordance with this Agreement, the Concession is granted for a period of 10 (Ten) years commencing from the Effective Date (the "Concession Period"). 3.2.2 Notwithstanding anything to the contrary stated in this Agreement, the Operator may request an extension of the Concession Period at any time at least one (01) year prior to the Expiry of Concession Period; provided that at the time of the request the Operator is materially in compliance with its obligations under this Agreement and is not otherwise facing a default therein. The Authority has a right to accept or reject this request for extension at its sole and absolute discretion.
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Samples: Concession Agreement, Concession Agreement, Concession Agreement
