Common use of Consequences of Substitution Clause in Contracts

Consequences of Substitution. (i) Maha-Metro 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 all the Concessionaire’s obligation under this Agreement by such Nominated Company, for the remaining Concession Period. Such rights shall be granted by Maha-Metro through the Novation of the Agreement, if applicable, in favour of the Nominated Company. Maha-Metro shall also execute a new Substitution Agreement with the Nominated Company and the Lenders, if there be any. (ii) All Sub-Contracts and agreements in respect of the Project 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 Project Site, Project Assets and Project Facilities in terms of the Agreement shall stand transferred and novated in favour of the Nominated Company. All approvals/clearances of Maha-Metro received by the Concessionaire shall stand transferred and novated in favour of the Nominated Company. All letter of allotments, sub-lease deeds or any other agreements executed by the Concessionaire for marketing the Project in terms of the Agreement 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. (iii) The project liabilities including performance of contracts shall be transferred to the nominee/ Maha-Metro from the effective date of termination or the date upto which Concessionaire is requested to operate the Project, whichever is later.

Consequences of Substitution. (i) Maha-Metro 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 all the Concessionaire’s obligation under this Agreement by such Nominated Company, for the remaining Concession Period. Such rights shall be granted by Maha-Metro through the Novation of the Agreement, if applicable, in favour of the Nominated Company. Maha-Metro shall also execute a new Substitution Agreement with the Nominated Company and the Lenders, if there be any. (ii) All Sub-Contracts and agreements in respect of the Project 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 Project Site, Project Assets and Project Facilities in terms of the Agreement shall stand transferred and novated in favour of the Nominated Company. All approvals/clearances of Maha-Metro received by the Concessionaire shall stand transferred and novated in favour of the Nominated Company. All letter of allotments, sub-lease deeds or any other agreements executed by the Concessionaire for marketing the Project in terms of the Agreement 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. (iii) The project liabilities including performance of contracts shall be transferred to the nominee/ Maha-Metro from the effective date of termination or the date upto which Concessionaire is requested to operate the Project, whichever is later.

Consequences of Substitution. (i) Maha-Metro Authority 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 all the Concessionaire’s entire obligation under this Agreement by such Nominated Company, for the remaining Concession Periodremainder of the term of this Agreement. Such rights shall be granted by Maha-Metro through the t h e Authority t h r ough t h e Novation of the Agreement, if applicable, in favour of the Nominated Company. Maha-Metro The Authority shall also execute a new Substitution Agreement with the Nominated Company and the Lenders, if there be any. (ii) an y. 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 Project Site, Sites and Project Assets and Project Facilities in terms of the Agreement shall stand transferred and novated in favour of the Nominated Company. All approvals/approvals/ clearances of Maha-Metro the Authority received by the Concessionaire shall stand transferred and novated in favour of the Nominated Company. All letter of allotments, sub-lease deeds or any other agreements executed by the Concessionaire for marketing the Project in terms of the Agreement 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. (iii) The project liabilities including performance of contracts shall be transferred to the nominee/ Maha-Metro from the effective date of termination or the date upto which Concessionaire is requested to operate the Project, whichever is later.

Consequences of Substitution. (i) Maha-Metro 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 all the Concessionaire’s obligation under this Agreement by such Nominated Company, for the remaining Concession Period. Such rights shall be granted by Maha-Metro through the Novation of the Agreement, if applicable, in favour of the Nominated Company. Maha-Metro shall also execute a new Substitution Agreement with the Nominated Company and the Lenders, if there be any. (ii) All Sub-Contracts and agreements in respect of the Project 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 Project Site, Project Assets and Project Facilities in terms of the Agreement shall stand transferred and novated in favour of the Nominated Company. All approvals/clearances of Maha-Metro received by the Concessionaire shall stand transferred and novated in favour of the Nominated Company. All letter of allotments, sub-lease deeds or any other agreements executed by the Concessionaire for marketing the Project in terms of the Agreement 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. (iii) The project liabilities including performance of contracts shall be transferred to the nominee/ Maha-Metro from the effective date of termination or the date upto which Concessionaire is was requested to operate the Project, whichever is later.