Common use of Concession Period Clause in Contracts

Concession Period. 3.2.1 The concession period for the Project shall commence from the Appointed Date and shall extend for a period of 60 (Sixty) years from such date (the “Concession Period”). 3.2.2 The Concessionaire shall be required to complete construction of the Mandatory Development Obligations within a pre-defined period from the Appointed Date (“Construction Period”). 3.2.3 For the avoidance of doubt, the Concession Period shall include the Construction Period. 3.2.4 It is hereby made clear that: a) In the event of the Concession Period being extended by the Concessioning Authority beyond the said period, in accordance with the provisions of this Concession Agreement, the Concession Period shall include the period / aggregate period by which the Concession is so extended, and b) In the event of Termination, the Concession Period shall mean and be limited to the period commencing from the Appointed Date and ending with the Termination. 3.2.5 At the end of the Concession Period or early termination of this Concession Agreement for any reason whatsoever, all rights given under this Concession Agreement shall cease to have effect and the Project Facilities, in good and operational condition, shall revert to the Concessioning Authority without any obligation of Concessioning Authority to pay or adjust any consideration or other payment to the Concessionaire. For more details, please refer ARTICLE 25 of this Concession Agreement.

Concession Period. 3.2.1 The concession period for the Project shall commence from the Appointed Date and shall extend for a period of 60 99 (SixtyNinety-nine) years from such date (the “Concession Period”). 3.2.2 The Concessionaire shall be required to complete construction of the Mandatory Development Obligations within a pre-defined period from the Appointed Date (“Construction Period”). 3.2.3 For the avoidance of doubt, the Concession Period shall include the Construction Period. 3.2.4 It is hereby made clear that: a) In the event of the Concession Period being extended by the Concessioning Authority beyond the said period, in accordance with the provisions of this Concession Agreement, the Concession Period shall include the period / aggregate period by which the Concession is so extended, and b) In the event of Termination, the Concession Period shall mean and be limited to the period commencing from the Appointed Date and ending with the Termination. 3.2.5 At the end of the Concession Period or early termination of this Concession Agreement for any reason whatsoever, all rights given under this Concession Agreement shall cease to have effect and the Project Facilities, in good and operational condition, shall revert to the Concessioning Authority without any obligation of Concessioning Authority to pay or adjust any consideration or other payment to the Concessionaire. For more details, please refer ARTICLE 25 of this Concession Agreement.