Delayed Payment of Compensation. If for any reasons, other than those attributable to the Concessionaire, the Concessioning Authority fails to pay the compensation on the Transfer Date, the Concessioning Authority shall be liable to pay interest@ 10 year GSEC plus 6% (six percent) per annum thereon from the Transfer Date till payment thereof. Provided, nothing contained in this Article shall be deemed to authorise any delay in payment of compensation in accordance with this Agreement.
Appears in 2 contracts
Samples: Escrow Agreement, Escrow Agreement
Delayed Payment of Compensation. If for any reasons, other than those attributable to the Concessionaire, the Concessioning Authority fails to pay the compensation on the Transfer Date, the Concessioning Authority shall be liable to pay interest@ interest @ 10 year GSEC plus 6% (six percent) per annum thereon from the Transfer Date till payment thereof. Provided, nothing contained in this Article shall be deemed to authorise any delay in payment of compensation in accordance with this Concession Agreement.
Appears in 1 contract
Samples: Management and Development Agreement
Delayed Payment of Compensation. If for any reasons, other than those attributable to the Concessionaire, the Concessioning Authority fails to pay the compensation on the Transfer Date, the Concessioning Authority shall be liable to pay interest@ 10 year GSEC plus 6% (six 6%(six percent) per annum thereon from the Transfer Date till payment thereof. Provided, nothing contained in this Article shall be deemed to authorise any delay in payment of compensation in accordance with this Agreement.
Appears in 1 contract
Samples: Draft Concession Agreement
Delayed Payment of Compensation. If for any reasons, other than those attributable to the ConcessionaireOperator, the Concessioning Authority fails to pay the compensation on the Transfer Date, the Concessioning Authority shall be liable to pay interest@ 10 year GSEC plus 6% (six 6%(six percent) per annum thereon from the Transfer Date till payment thereof. Provided, nothing contained in this Article shall be deemed to authorise any delay in payment of compensation in accordance with this Agreement.
Appears in 1 contract
Samples: Substitution Agreement
