Common use of Concession Period Clause in Contracts

Concession Period. 3.2.1. The Concession Period shall commence from the Appointed Date and shall extend for a period of Forty (40) years, including construction period of 36 months or the earlier termination of this Agreement in terms hereof and during which the Concessionaire is authorized to implement the Project and to operate the Project Facility excluding MLCP in accordance withthe provisions hereof. For the avoidance of doubt, the Concession Period shall include the Construction Period. However on successful completion of initial Concession period, the concession period may be extended for maximum of another 30 years on “First Right of Refusal” basis. 3.2.2. It is hereby acknowledged that if the Authority decides to again bid for the Project on Public- Private-Partnership (PPP) basis within a period not later than one year from the date of end of 40 years from the Appointed Date, the Concessionaire shall be given “First Right of Refusal” for maximum period of another 30 years 3.2.3. In order to be granted the “First Right of Refusal”, the Concessionaire has to intimate his interest in writing to the Authority six months prior to the completion of the Concession Period, in order to become eligible to avail of the privilege of the “First Rightof Refusal”. 3.2.4. In the event the Concessionaire opts to exercise the “First Right of Refusal” and matches or Improves upon the bid of the highest bidder, the Project shall be awarded to the Concessionaire and the highest bidder whose bid has been matched or improved upon shall have no right for being declared as the Prospective Bidder. 3.2.5. However, the terms and conditions of the bidding process as well as those of the bidding documents shall be determined by the Authority at its sole discretion. It is hereby made clear that: a) In the event of the Concession Period being extended by the Authority beyond the said period in accordance with the provisions of this 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; 3.2.6. At the end of the Concession Period or sooner termination of this Concession Agreement for any reason whatsoever, all rights given under this Concession Agreement shall cease to have effect and the Project Site, Project facility and Project Assets attached to the Project shall revert to the Authority without any obligation to Authority to pay or adjust any consideration or other payment to the Concessionaire. 3.2.7. In case of successful completion/expiry of Concession Period of 40 years from compliance period and Concession Period not extended (First Right of Refusal) by the Authority or by Concessionaire, the Concessionaire shall transfer and handover theProject Facilities, the Project and the Project Assets to the Authority or its nominated agency, without claiming any monetary benefit, whatsoever from the Authority. 3.2.8. In case of successful completion/expiry of Concession Period of 40 years from compliance period and Concession Period extended through First Right of Refusal for maximum period of another 30 years by the Authority, the Concessionaire shall transfer and handover the Project Facilities, the Project and the Project Assets to the Authority or its nominated agency, without claiming any monetary benefit, whatsoever from the Authority at the end of the extended period of another 30 years.

Concession Period. 3.2.1. The (a) Each Concession Period shall commence from on the Appointed Effective Date and shall extend for a remain in full force and effect until the second immediately prior to midnight on the last day of the relevant Concession Period. (b) With respect to each Concession, the "Initial Concession Period" is the period which: (i) commences on the Effective Date; and (ii) ends on the date which falls fifty (50) years (plus any extension arising by operation of Forty (40Clause 5.2(d)) years, including construction period after the occurrence of 36 months or the earlier termination to occur of this Agreement (x) the Commercial Operations Date for the Wet Canal Project, and (y) the Final Commercial Operations Date. (c) With respect to each Concession: (i) the Commission hereby grants to the relevant Sponsor the option, exercisable in terms hereof and during which the Concessionaire is authorized absolute discretion of such Sponsor, to implement extend the Project and to operate the Project Facility excluding MLCP in accordance withthe provisions hereof. For the avoidance of doubt, the Initial Concession Period shall include the Construction Period. However by a further fifty (50) year period (such option, a "Follow-on successful completion of initial Concession Option"; such period, and any extension arising by operation of Clause 5.2(d), a "Follow-on Concession Period"); (ii) such Sponsor may exercise such Follow-on Option by delivering notice to the concession period may be extended for maximum of another 30 years on “First Right of Refusal” basis. 3.2.2. It is hereby acknowledged that if the Authority decides to again bid for the Project on Public- Private-Partnership (PPP) basis within a period not Commission no later than one year from the date of end of 40 years from the Appointed Date, the Concessionaire shall be given “First Right of Refusal” for maximum period of another 30 years 3.2.3. In order to be granted the “First Right of Refusal”, the Concessionaire has to intimate his interest in writing to the Authority six (6) months prior to the completion last day of the Initial Concession Period of its election to exercise such Follow-on Option; (iii) upon the exercise of a Follow-on Option in relation to a Sub Project: (A) the Follow-on Concession Period for such Sub Project shall commence immediately upon the expiry of the Initial Concession Period (and without any interruption between the Initial Concession Period and the Follow-on Concession Period); and (B) such exercise of a Follow-on Option, expiry of the Initial Concession Period, and commencement of a Follow-on Concession Period, shall in order each case occur without requiring the payment of any further consideration by any Key Entity to become eligible or for the benefit of any Government Entity (or any designee(s) thereof); and neither such exercise, expiry nor commencement shall of itself cause any additional cost or charge to avail be incurred by or on behalf of the privilege of the “First Rightof Refusal”any Key Entity. 3.2.4. In the event the Concessionaire opts (d) With respect to exercise the “First Right of Refusal” and matches or Improves upon the bid of the highest biddereach Concession, the Project "Concession Period" shall be awarded to the Concessionaire and the highest bidder whose bid has been matched or improved upon shall have no right for being declared as the Prospective Bidder. 3.2.5. However, the terms and conditions of the bidding process as well as those of the bidding documents shall be determined by the Authority at its sole discretion. It is hereby made clear thatmean: a) In the event of the Concession Period being extended by the Authority beyond the said period in accordance with the provisions of this 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; 3.2.6. At the end of the Concession Period or sooner termination of this Concession Agreement for any reason whatsoever, all rights given under this Concession Agreement shall cease to have effect and the Project Site, Project facility and Project Assets attached to the Project shall revert to the Authority without any obligation to Authority to pay or adjust any consideration or other payment to the Concessionaire. 3.2.7. In case of successful completion/expiry of Concession Period of 40 years from compliance period and Concession Period not extended (First Right of Refusal) by the Authority or by Concessionaire, the Concessionaire shall transfer and handover theProject Facilities, the Project and the Project Assets to the Authority or its nominated agency, without claiming any monetary benefit, whatsoever from the Authority. 3.2.8. In case of successful completion/expiry of Concession Period of 40 years from compliance period and Concession Period extended through First Right of Refusal for maximum period of another 30 years by the Authority, the Concessionaire shall transfer and handover the Project Facilities, the Project and the Project Assets to the Authority or its nominated agency, without claiming any monetary benefit, whatsoever from the Authority at the end of the extended period of another 30 years.

Concession Period. 3.2.1. The Concession Period shall commence from the Appointed Date and shall extend hereby granted is for a period of Forty (40) years, including construction period 30 years commencing from Date of 36 months or the earlier termination of this Agreement in terms hereof and Award ofConcession during which the Concessionaire is authorized and obliged to implement the Project andto provide Project Facilities and to operate the Project Facility excluding MLCP Services as per Scope of work in accordance withthe provisions hereofwith the provisionshereof. For the avoidance of doubt, the Concession Period shall include the Construction Period. However on successful completion of initial Concession period, the concession period may be extended for maximum of another 30 years on “First Right of Refusal” basis. 3.2.2. It is hereby acknowledged that if the Authority decides to again bid for the Project on Public- PrivateProvided that: -Partnership (PPP) basis within a period not later than one year from the date of end of 40 years from the Appointed Date, the Concessionaire shall be given “First Right of Refusal” for maximum period of another 30 years 3.2.3. In order to be granted the “First Right of Refusal”, the Concessionaire has to intimate his interest in writing to the Authority six months prior to the completion of the Concession Period, in order to become eligible to avail of the privilege of the “First Rightof Refusal”. 3.2.4. In the event the Concessionaire opts to exercise the “First Right of Refusal” and matches or Improves upon the bid of the highest bidder, the Project shall be awarded to the Concessionaire and the highest bidder whose bid has been matched or improved upon shall have no right for being declared as the Prospective Bidder. 3.2.5. However, the terms and conditions of the bidding process as well as those of the bidding documents shall be determined by the Authority at its sole discretion. It is hereby made clear that: a) In in the event of the Concession Period being extended by the Concessioning Authority beyond the said period of 30 years in accordance with the provisions of this Agreement, the Concession Period ConcessionPeriod shall include the period/ aggregate period by which the Concession is so extended, and b) In in theevent of an earlytermination/determination of the event of TerminationConcession/ this Agreement by eitherParty in accordance with the provisions hereof, the Concession Period shall mean and be limited belimited to the period commencing from the Date of Award of Concession and ending with thedate of termination/ determination of the Concession/this Agreement. Provided further that, the Concessionaire shall, at any time not earlier than 25th (Twenty fifth) anniversary of the Appointed Date and ending no later than 27th (Twenty seventh) anniversary of the Appointed Date, intimate the Concessioning Authority about its interest and request for renewing/ extending the term of this Concession by another period of [10] years. While making such request, the Concessionaire shall submit a confirmation that it is agreeable to participate in the international competitive bidding process for the determination of the Royalty for an additional period of [10] years, in the form and manner, as may be prescribed by the Concessioning Authority, at such time, and in any such case of international competitive bidding: a. the Concessionaire shall have a right to match the highest bid, if its bid is within [10.00%] of the highest bid that may be offered at that time in accordance with the Terminationterms and conditions of thebidding documents issued at such time; 3.2.6b. the Affiliate(s) of the Concessionaire shall not be qualified, either directly or indirectly, to participate in any such bidding process; and c. it is clarified the Concessionaire shall be deemed to be qualified to submit the financial bid without being required to participate in the pre- qualification process and shall not be required to submit any documents for pre-qualification. At Provided further that, in the end event the Concessionaire has been in material default of the provisions of this Agreement as a result of which the cumulative damages imposed upon him under the provisions of this Agreement [20%] of the Performance Security, then, the Concessioning Authority shall not be under any obligation to extend the Concession Period or provide the right to match the highest bid to the Concessionaire in accordance with this Clause 2.2. In any event, at all times, any decision concerning the extension of the Concession Period or sooner termination of this Concession Agreement for any reason whatsoever, all rights given under this Concession Agreement shall cease to have effect and vest with the Project Site, Project facility and Project Assets attached to the Project shall revert to the Authority without any obligation to Authority to pay or adjust any consideration or other payment to the Concessionaire. 3.2.7. In case of successful completion/expiry of Concession Period of 40 years from compliance period and Concession Period not extended (First Right of Refusal) by the Authority or by Concessionaire, the Concessionaire shall transfer and handover theProject Facilities, the Project and the Project Assets to the Authority or its nominated agency, without claiming any monetary benefit, whatsoever from the Concessioning Authority. 3.2.8. In case of successful completion/expiry of Concession Period of 40 years from compliance period and Concession Period extended through First Right of Refusal for maximum period of another 30 years by the Authority, the Concessionaire shall transfer and handover the Project Facilities, the Project and the Project Assets to the Authority or its nominated agency, without claiming any monetary benefit, whatsoever from the Authority at the end of the extended period of another 30 years.

Concession Period. 3.2.1. The Concession Period shall commence from the Appointed Date and shall extend hereby granted is for a period of Forty (40) years, including construction period 30 years commencing from Date of 36 months or the earlier termination of this Agreement in terms hereof and Award ofConcession during which the Concessionaire is authorized and obliged to implement the Project andto provide Project Facilities and to operate the Project Facility excluding MLCP Services as per Scope of work in accordance withthe provisions hereofwith the provisionshereof. For the avoidance of doubt, the Concession Period shall include the Construction Period. However on successful completion of initial Concession period, the concession period may be extended for maximum of another 30 years on “First Right of Refusal” basis. 3.2.2. It is hereby acknowledged that if the Authority decides to again bid for the Project on Public- PrivateProvided that: -Partnership (PPP) basis within a period not later than one year from the date of end of 40 years from the Appointed Date, the Concessionaire shall be given “First Right of Refusal” for maximum period of another 30 years 3.2.3. In order to be granted the “First Right of Refusal”, the Concessionaire has to intimate his interest in writing to the Authority six months prior to the completion of the Concession Period, in order to become eligible to avail of the privilege of the “First Rightof Refusal”. 3.2.4. In the event the Concessionaire opts to exercise the “First Right of Refusal” and matches or Improves upon the bid of the highest bidder, the Project shall be awarded to the Concessionaire and the highest bidder whose bid has been matched or improved upon shall have no right for being declared as the Prospective Bidder. 3.2.5. However, the terms and conditions of the bidding process as well as those of the bidding documents shall be determined by the Authority at its sole discretion. It is hereby made clear that: a) In in the event of the Concession Period being extended by the Concessioning Authority beyond the said period of 30 years in accordance with the provisions of this Agreement, the Concession Period ConcessionPeriod shall include the period/ aggregate period by which the Concession is so extended, and b) In in theevent of an earlytermination/determination of the event of TerminationConcession/ this Agreement by eitherParty in accordance with the provisions hereof, the Concession Period shall mean and be limited belimited to the period commencing from the Date of Award of Concession and ending with thedate of termination/ determination of the Concession/this Agreement. Provided further that, the Concessionaire shall, at any time not earlier than 25th (Twenty fifth) anniversary of the Appointed Date and ending no later than 27th (Twenty seventh) anniversary of the Appointed Date, intimate the Concessioning Authority about its interest and request for renewing/ extending the term of this Concession by another period of [●] years. While making such request, the Concessionaire shall submit a confirmation that it is agreeable to participate in the international competitive bidding process for the determination of the Royalty for an additional period of [●] years, in the form and manner, as may be prescribed by the Concessioning Authority, at such time, and in any such case of international competitive bidding: a. the Concessionaire shall have a right to match the highest bid, if its bid is within [10.00%] of the highest bid that may be offered at that time in accordance with the Terminationterms and conditions of thebidding documents issued at such time; 3.2.6b. the Affiliate(s) of the Concessionaire shall not be qualified, either directly or indirectly, to participate in any such bidding process; and c. it is clarified the Concessionaire shall be deemed to be qualified to submit the financial bid without being required to participate in the pre- qualification process and shall not be required to submit any documents for pre-qualification. At Provided further that, in the end event the Concessionaire has been in material default of the provisions of this Agreement as a result of which the cumulative damages imposed upon him under the provisions of this Agreement [20%] of the Performance Security, then, the Concessioning Authority shall not be under any obligation to extend the Concession Period or provide the right to match the highest bid to the Concessionaire in accordance with this Clause 2.2. In any event, at all times, any decision concerning the extension of the Concession Period or sooner termination of this Concession Agreement for any reason whatsoever, all rights given under this Concession Agreement shall cease to have effect and vest with the Project Site, Project facility and Project Assets attached to the Project shall revert to the Authority without any obligation to Authority to pay or adjust any consideration or other payment to the Concessionaire. 3.2.7. In case of successful completion/expiry of Concession Period of 40 years from compliance period and Concession Period not extended (First Right of Refusal) by the Authority or by Concessionaire, the Concessionaire shall transfer and handover theProject Facilities, the Project and the Project Assets to the Authority or its nominated agency, without claiming any monetary benefit, whatsoever from the Concessioning Authority. 3.2.8. In case of successful completion/expiry of Concession Period of 40 years from compliance period and Concession Period extended through First Right of Refusal for maximum period of another 30 years by the Authority, the Concessionaire shall transfer and handover the Project Facilities, the Project and the Project Assets to the Authority or its nominated agency, without claiming any monetary benefit, whatsoever from the Authority at the end of the extended period of another 30 years.

Concession Period. 3.2.1. The Concession Period shall commence from the Appointed Date and shall extend hereby granted is for a period of Forty (40) years, including construction period [●]11 years commencing from Date of 36 months or the earlier termination Award of this Agreement in terms hereof and Concession during which the Concessionaire is authorized and obliged to implement the Project and to operate the provide Project Facility excluding MLCP Facilities and Services as per Scope of work in accordance withthe with the provisions hereof. For the avoidance of doubt, the Concession Period shall include the Construction Period. However on successful completion of initial Concession period, the concession period may be extended for maximum of another 30 years on “First Right of Refusal” basis. 3.2.2. It is hereby acknowledged that if the Authority decides to again bid for the Project on Public- PrivateProvided that: -Partnership (PPP) basis within a period not later than one year from the date of end of 40 years from the Appointed Date, the Concessionaire shall be given “First Right of Refusal” for maximum period of another 30 years 3.2.3. In order to be granted the “First Right of Refusal”, the Concessionaire has to intimate his interest in writing to the Authority six months prior to the completion of the Concession Period, in order to become eligible to avail of the privilege of the “First Rightof Refusal”. 3.2.4. In the event the Concessionaire opts to exercise the “First Right of Refusal” and matches or Improves upon the bid of the highest bidder, the Project shall be awarded to the Concessionaire and the highest bidder whose bid has been matched or improved upon shall have no right for being declared as the Prospective Bidder. 3.2.5. However, the terms and conditions of the bidding process as well as those of the bidding documents shall be determined by the Authority at its sole discretion. It is hereby made clear that: a) In in the event of the Concession Period being extended by the Concessioning Authority beyond the said period of [●] years in accordance with the provisions of this Agreement, the Concession Period shall include the period/ aggregate period by which the Concession is so extended, and b) In in the event of Terminationan early termination/determination of the Concession/ this Agreement by either Party in accordance with the provisions hereof, the Concession Period shall mean and be limited to the period commencing from the Appointed Date of Award of Concession and ending with the Terminationdate of termination/ determination of the Concession/this Agreement. Provided further that, the Concessionaire shall, at any time not earlier than 25th (Twenty fifth) anniversary of the Appointed Date and no later than 27th (Twenty seventh) anniversary of the Appointed Date, intimate the Concessioning Authority about its interest and request for renewing/ extending the term of this Concession by another period of [●] years. While making such request, the Concessionaire shall submit a confirmation that it is agreeable to participate in the international competitive bidding process for the determination of the Royalty for an additional period of [●] years, in the form and manner, as may be prescribed by the Concessioning Authority, at such time, and in any such case of international competitive bidding: 11 Suggested period of 30 years for single-phase investment and 45 years for multi-phase investment a. the Concessionaire shall have a right to match the highest bid, if its bid is within [10.00%] of the highest bid that may be offered at that time in accordance with the terms and conditions of the bidding documents issued at such time; 3.2.6b. the Affiliate(s) of the Concessionaire shall not be qualified, either directly or indirectly, to participate in any such bidding process; and c. it is clarified the Concessionaire shall be deemed to be qualified to submit the financial bid without being required to participate in the pre- qualification process and shall not be required to submit any documents for pre-qualification. At Provided further that, in the end event the Concessionaire has been in material default of the provisions of this Agreement as a result of which the cumulative damages imposed upon him under the provisions of this Agreement [20%] of the Performance Security, then, the Concessioning Authority shall not be under any obligation to extend the Concession Period or provide the right to match the highest bid to the Concessionaire in accordance with this Clause 2.2. In any event, at all times, any decision concerning the extension of the Concession Period or sooner termination of this Concession Agreement for any reason whatsoever, all rights given under this Concession Agreement shall cease to have effect and vest with the Project Site, Project facility and Project Assets attached to the Project shall revert to the Authority without any obligation to Authority to pay or adjust any consideration or other payment to the Concessionaire. 3.2.7. In case of successful completion/expiry of Concession Period of 40 years from compliance period and Concession Period not extended (First Right of Refusal) by the Authority or by Concessionaire, the Concessionaire shall transfer and handover theProject Facilities, the Project and the Project Assets to the Authority or its nominated agency, without claiming any monetary benefit, whatsoever from the Concessioning Authority. 3.2.8. In case of successful completion/expiry of Concession Period of 40 years from compliance period and Concession Period extended through First Right of Refusal for maximum period of another 30 years by the Authority, the Concessionaire shall transfer and handover the Project Facilities, the Project and the Project Assets to the Authority or its nominated agency, without claiming any monetary benefit, whatsoever from the Authority at the end of the extended period of another 30 years.

Concession Period. 3.2.1. The Concession Period shall commence from the Appointed Date and shall extend hereby granted is for a period of Forty (40) years, including construction period [●]11 years commencing from Date of 36 months or the earlier termination Award of this Agreement in terms hereof and Concession during which the Concessionaire is authorized and obliged to implement the Project and to operate the provide Project Facility excluding MLCP Facilities and Services as per Scope of work in accordance withthe with the provisions hereof. For the avoidance of doubt, the Concession Period shall include the Construction Period. However on successful completion of initial Concession period, the concession period may be extended for maximum of another 30 years on “First Right of Refusal” basis.Provided that: - 3.2.2. It is hereby acknowledged that if the Authority decides to again bid for the Project on Public- Private-Partnership (PPP) basis within a period not later than one year from the date of end of 40 years from the Appointed Date, the Concessionaire shall be given “First Right of Refusal” for maximum period of another 30 years 3.2.3. In order to be granted the “First Right of Refusal”, the Concessionaire has to intimate his interest in writing to the Authority six months prior to the completion of the Concession Period, in order to become eligible to avail of the privilege of the “First Rightof Refusal”. 3.2.4. In the event the Concessionaire opts to exercise the “First Right of Refusal” and matches or Improves upon the bid of the highest bidder, the Project shall be awarded to the Concessionaire and the highest bidder whose bid has been matched or improved upon shall have no right for being declared as the Prospective Bidder. 3.2.5. However, the terms and conditions of the bidding process as well as those of the bidding documents shall be determined by the Authority at its sole discretion. It is hereby made clear that: a) In in the event of the Concession Period being extended by the Concessioning Authority beyond the said period of [●] years in accordance with the provisions of this Agreement, the Concession Period shall include the period/ aggregate period by which the Concession is so extended, and (b) In in the event of Terminationan early termination/determination of the Concession/ this Agreement by either Party in accordance with the provisions hereof, the Concession Period shall mean and be limited to the period commencing from the Appointed Date of Award of Concession and ending with the Terminationdate of termination/ determination of the Concession/this Agreement. Provided further that, the Concessionaire shall, at any time not earlier than 25th (Twenty fifth) anniversary of the Appointed Date and no later than 27th (Twenty seventh) anniversary of the Appointed Date, intimate the Concessioning Authority about its interest and request for renewing/ extending the term of this Concession by another period of [●] years. While making such request, the Concessionaire shall submit a confirmation that it is agreeable to participate in the international competitive bidding process for the determination of the Royalty for an additional period of [●] years, in the form and manner, as may be prescribed by the Concessioning Authority, at such time, and in any such case of international competitive bidding: 11Suggested period of 30 years for single-phase investment and 45 years for multi-phase investment (a) the Concessionaire shall have a right to match the highest bid, if its bid is within [10.00%] of the highest bid that may be offered at that time in accordance with the terms and conditions of the bidding documents issued at such time; 3.2.6(b) the Affiliate(s) of the Concessionaire shall not be qualified, either directly or indirectly, to participate in any such bidding process; and (c) it is clarified the Concessionaire shall be deemed to be qualified to submit the financial bid without being required to participate in the pre- qualification process and shall not be required to submit any documents for pre-qualification. At Provided further that, in the end event the Concessionaire has been in material default of the provisions of this Agreement as a result of which the cumulative damages imposed upon him under the provisions of this Agreement [20%] of the Performance Security, then, the Concessioning Authority shall not be under any obligation to extend the Concession Period or provide the right to match the highest bid to the Concessionaire in accordance with this Clause 2.2. In any event, at all times, any decision concerning the extension of the Concession Period or sooner termination of this Concession Agreement for any reason whatsoever, all rights given under this Concession Agreement shall cease to have effect and vest with the Project Site, Project facility and Project Assets attached to the Project shall revert to the Authority without any obligation to Authority to pay or adjust any consideration or other payment to the Concessionaire. 3.2.7. In case of successful completion/expiry of Concession Period of 40 years from compliance period and Concession Period not extended (First Right of Refusal) by the Authority or by Concessionaire, the Concessionaire shall transfer and handover theProject Facilities, the Project and the Project Assets to the Authority or its nominated agency, without claiming any monetary benefit, whatsoever from the Concessioning Authority. 3.2.8. In case of successful completion/expiry of Concession Period of 40 years from compliance period and Concession Period extended through First Right of Refusal for maximum period of another 30 years by the Authority, the Concessionaire shall transfer and handover the Project Facilities, the Project and the Project Assets to the Authority or its nominated agency, without claiming any monetary benefit, whatsoever from the Authority at the end of the extended period of another 30 years.