Common use of Consequences of Substitution Clause in Contracts

Consequences of Substitution. Authority shall grant, to the Nominated Company, the right to develop, design, finance, construct, operate and maintain the Project (including entering into Sub- Contracts) together with all other rights of the Concessionaire under this Agreement, subject to fulfilment of the Concessionaire’s entire obligation under this Agreement by such Nominated Company, for the remainder of the term of this Agreement. Such rights shall be granted by the Authority through the Novation of the Agreement, if applicable, in favour of the Nominated Company. The Authority shall also execute new Substitution Agreement with the Nominated Company and the Lenders, if there be any. All Sub-Contracts and agreements in respect of the Project including Financing Agreements and all Sub-Contracts executed by the Concessionaire shall stand transferred and novated in favour of the Nominated Company. Further all rights of the Concessionaire on the Sites and Project Assets in terms of the Agreement shall stand transferred and novated in favour of the Nominated Company. All approvals/ clearances of the Authority received by the Concessionaire shall stand transferred and novated in favour of the Nominated Company. The Concessionaire shall get replaced by the Nominated Company for all purposes related to the Project.

Consequences of Substitution. Authority shall grant, to the Nominated Company, the right to develop, design, finance, construct, operate and maintain the Project (including entering into Sub- Contracts) together with all other rights of the Concessionaire under this Agreement, subject to fulfilment of the Concessionaire’s Concessionaire‟s entire obligation under this Agreement by such Nominated Company, for the remainder of the term of this Agreement. Such rights shall be granted by the Authority through the Novation of the Agreement, if applicable, in favour of the Nominated Company. The Authority shall also execute new Substitution Agreement with the Nominated Company and the Lenders, if there be any. All Sub-Contracts and agreements in respect of the Project including Financing Agreements and all Sub-Contracts executed by the Concessionaire shall stand transferred and novated in favour of the Nominated Company. Further all rights of the Concessionaire on the Sites and Project Assets in terms of the Agreement shall stand transferred and novated in favour of the Nominated Company. All approvals/ clearances of the Authority received by the Concessionaire shall stand transferred and novated in favour of the Nominated Company. The Concessionaire shall get replaced by the Nominated Company for all purposes related to the Project.

Consequences of Substitution. Authority shall grant, to the Nominated Company, the right to develop, design, finance, construct, operate and maintain the Project (including entering into Sub- Contracts) together with all other rights of the Concessionaire under this Agreement, subject to fulfilment of the Concessionaire’s entire obligation under this Agreement by such Nominated Company, for the remainder of the term Term of this Agreement. Such rights shall be granted by the Authority theAuthority through the Novation novation of the Agreement, if applicable, in favour favor of the Nominated Company. The Authority shall also execute new Substitution Agreement with the Nominated Company and the Lenders, if there be any. All Sub-Contracts and agreements in respect of the Project including Financing Agreements and all Sub-Sub- Contracts executed by the Concessionaire shall stand transferred and novated in favour favor of the Nominated Company. Further all rights of the Concessionaire on the Sites Site and Project Assets in terms of the Agreement shall stand transferred and novated in favour favor of the Nominated Company. All approvals/ approvals/clearances of the Authority ULB received by the Concessionaire shall stand transferred and novated in favour favor of the Nominated Company. The Concessionaire shall get replaced by the Nominated Company for all purposes related to the Project.

Consequences of Substitution. Authority AMC shall grant, to the Nominated Company, the right to develop, design, finance, construct, operate and maintain the Project (including entering into Sub- Sub-Contracts) together with all other rights of the Concessionaire under this Agreement, subject to fulfilment of the Concessionaire’s entire obligation under this Agreement by such Nominated Company, for the remainder of the term of this Agreement. Such rights shall be granted by the Authority AMC through the Novation of the Agreement, if applicable, in favour of the Nominated Company. The Authority AMC shall also execute new Substitution Agreement with the Nominated Company and the Lenders, if there be any. All Sub-Contracts and agreements in respect of the Project including Financing Agreements and all Sub-Contracts executed by the Concessionaire shall stand transferred and novated in favour of the Nominated Company. Further all rights of the Concessionaire on the Sites and Project Assets in terms of the Agreement shall stand transferred and novated in favour of the Nominated Company. All approvals/ approvals/clearances of the Authority AMC received by the Concessionaire shall stand transferred and novated in favour of the Nominated Company. The Concessionaire shall get replaced by the Nominated Company for all purposes related to the Project.