Damages for delay by the Concessionaire. In the event that (i) the Concessionaire does not procure fulfilment of any or all of the Conditions Precedent set forth in Clause 4.1.3 within a period of 180 (one hundred and eighty) days from the date of this Agreement, and (ii) the delay has not occurred as a result of failure to fulfil the obligations under Clause 4.1.2 or other breach of this Agreement by the Authority, or due to Force Majeure, the Concessionaire shall pay to the Authority Damages in an amount calculated at the rate of 0.2% (zero point two per cent) of the Performance Security for each day's delay until the fulfilment of such Conditions Precedent, subject to a maximum of 20% (twenty percent) of the Performance Security.
Damages for delay by the Concessionaire. In the event that (i) the Concessionaire does not procure fulfillment of any or all of the Conditions Precedent set forth in Clause 4.1.3 within the period specified in respect thereof, and (ii) the delay has not occurred as a result of failure to fulfill the obligations under Clause 4.1.2 or other breach of this Agreement by the Authority, or due to Force Majeure, the Concessionaire shall pay to the Authority Damages in an amount calculated at the rate of 0.3% (zero point three per cent) of the Performance Security for each day’s delay until the fulfillment of such Conditions Precedent. Provided, however, that the Damages payable hereunder shall be subject to the maximum limit equal to the amount of the Bid Security and upon reaching such limit, the Authority may, in its sole discretion and subject to the provisions of Clause 9.2, terminate the Agreement. Provided further that in the event of delay by the Authority in procuring fulfillment of the Conditions Precedent specified in Clause 4.1.2, no Damages shall be due or payable by the Concessionaire under this Clause 4.3 until the date on which the Authority shall have procured fulfillment of the Conditions Precedent specified in Clause 4.1.2.
Damages for delay by the Concessionaire. In the event that: (i) the Concessionaire does not procure fulfilment or waiver of any or all of the Conditions Precedent set forth in Article 4.1.3 within the period specified in that Article; and (ii) the delay has not occurred as a result of breach of this Agreement by the Authority or due to Force Majeure Event, the Concessionaire shall pay Damages to the Authority of an amount calculated at the rate of [0.3% (zero point three per cent)] of the Performance Security for each day’s delay until the fulfilment or waiver of such Conditions Precedent, up to the maximum amount equal to the Bid Security and upon reaching such maximum amount, the Authority may, in its sole discretion and subject to the provisions of Article 9.2, terminate the Agreement. Provided that in the event of delay by the Authority in procuring fulfilment of the Conditions Precedent specified in Article 4.1.2, no Damages shall be due and payable by the Concessionaire under this Article 4.3 until the date on which the Authority shall have procured fulfilment of the Conditions Precedent specified in Article 4.1.2.
Damages for delay by the Concessionaire. In the event that (i) the Concessionaire does not procure fulfilment of any or all of the Conditions Precedent set forth in Clause 4.1.3 within a period specified in respect thereof, and (ii) the delay has not occurred as a result of failure to fulfil the obligations under Clause 4.1.2 or other breach of this Agreement by the Participating ULBs, or due to Force Majeure, the Lead ULB shall encash the Construction Performance Security at the rate of 0.2% (zero point two per cent) of the Construction Performance Security for each day’s delay until the fulfilment of such Conditions Precedent, subject to a maximum of 20% (twenty percent) of the Construction Performance Security.
Damages for delay by the Concessionaire. 4.2.1. If the Conditions Precedent set forth in Clause 4.1.2have not been satisfied by the Concessionaire within the stipulated period, including extension if granted by the Authority, and (i) the delay has not occurred as a result of failure by the Authority to fulfil its obligation under Clause 4.1.3 or other breach of this Agreement by the Authority or (ii) due to Force Majeure, the Concessionaire shall pay to the Authority Damages in an amount calculated at the rate of 0.2% of Performance Security for each day‟s delay until the fulfilment of such Conditions Precedent, subject to a maximum of 20% of Performance Security. In the event the total Damages under this Clause reach the maximum level stipulated herein, it will constitute a Concessionaire Default and the provisions of Clause 21.1 shall apply.
Damages for delay by the Concessionaire. In the event that
(i) the Concessionaire does not procure fulfillment or waiver of any or all of the Conditions Precedent set forth in Article 4.2 within the period specified in that clause, and
(ii) the delay has not occurred as a result of failure of the Authority to fulfill its obligations under Article 4.1 or other breach of this Agreement by the Authority, or due to Force Majeure, the Concessionaire shall pay to the Authority, Damages in an amount calculated at the rate of 1% (one per cent) of the Performance Security for each week’s delay until the fulfillment of such Conditions Precedent, subject to a maximum delay of 90 (ninety) days, after expiry of which the Authority may issue a Termination Notice to the Concessionaire. The Agreement shall stand terminated on the expiry of 15 (fifteen) days from the date of issue of Termination Notice. Provided that the Concessionaire shall not have any right to claim fulfilment of Condition Precedents after expiry of the delay period of 90 days period, unless a waiver or extension is granted by the Authority. Provided that in the event of delay by the Authority in procuring fulfillment of the Conditions Precedent specified in Article 4.1, no damages shall be due or payable by the Concessionaire under this Article 4.4 until the date on which the Authority shall have procured fulfillment of the Conditions Precedent specified in the Article 4.1.
Damages for delay by the Concessionaire. In the event that (i) the Concessionaire does not procure fulfilment of any or all of the Conditions Precedent set forth in Clause 4.4 within a period specified in respect thereof, and (ii) the delay has not occurred as a result of failure to fulfil the obligations under Xxxxxx 4.2 or other breach of this Agreement by the ULB, or due to Force Majeure or due to delay in Applicable Permits not attributable to the Concessionaire provided all such conditions required to be fulfilled by Concessionaire for grant of the Applicable Permit(s) shall have been satisfied in full by the Concessionaire , the ULB shall encash the Construction Performance Security at the rate of 0.2% (zero point two per cent) of the Construction Performance Security for eachday‘s default until day of the fulfilment of such Conditions Precedent, subject to a maximum of 20% (twenty percent) of the Construction Performance Security. In case of appropriation of CPS towards aforesaid damages, the Concessionaire shall replenish the CPS to its original value(along with corresponding validity extension) within 30 days from the date of such encashment.
Damages for delay by the Concessionaire. In the event that (i) the Concessionaire does not procure fulfilment of any or all of the Conditions Precedent set forth in Clause 4.1.3 within a period of 180 (One hundred eighty) days from the date of this Agreement, and (ii) the delay has not occurred as a result of failure to fulfil the obligations under Clause
Damages for delay by the Concessionaire. 4.3.1 In the event that (i) the Concessionaire does not procure fulfillment of any or all of the Conditions Precedent set forth in Clause 4.1.3 by the Appointed Date, and (ii) the delay has not occurred as a result of failure to fulfill the obligations under Clause 4.1.2 or other breach of this Agreement by the Authority or due to Force Majeure or fulfillment of such Conditions Precedent has not been waived off by mutual agreement of the Parties hereto, the Concessionaire shall pay to the Authority, Damages in an amount calculated at the rate of 0.1% (zero point one percent) of the Performance Security for each day's delay until the fulfillment of such Conditions Precedent, subject to a maximum of 20% (twenty per cent) of the Performance Security.
4.3.2 In the event, maximum Damages as specified in Clause 4.3.1 above have been reached and the Concessionaire still fails to achieve any or all of the Conditions Precedent set forth in Clause 4.1.3, it would entitle the Authority to terminate this Agreement in accordance with the provisions hereto. In such an event, notwithstanding anything to the contrary contained in this Agreement, the Authority shall, without prejudice to any other right or remedy that may be available to the Authority under this Agreement, be entitled to:
(i) forfeit and appropriate the Performance Security; and
(ii) appropriate the payments made by the Concessionaire to the Authority upto that date including payment of first instalment of Upfront Premium, as Damages.
Damages for delay by the Concessionaire. In the event that (i) the Concessionaire does not procure fulfilment of any or all of the Conditions Precedent set forth in Clause 4.1.3 within the period specified in respect thereof, and (ii) the delay has not occurred as a result of breach of this Agreement by the Authority or due to Force Majeure, the Concessionaire shall pay to the Authority Damages in an amount calculated at the rate of 0.2% (zero point two per cent) of the Performance Security for each day's delay until the fulfilment of such Conditions Precedent, subject to a maximum of 10% (ten per cent) of the Performance Security and upon reaching such limit, the Authority may, in its sole discretion and subject to the provisions of Clause 9.2, terminate the Agreement.
