Delayed Transfer of Assets. If for any reasons other than those attributable to the Concessioning Authority the Concessionairefails to transfer assets, rights and contracts on the Transfer Date in accordance with Article 16.5 read with Article 18, there shall be no suspension of the operation and maintenance of the Project Facilitiesand Services and the Concessionaire shall, as a trustee of the Concessioning Authority, (a) continue to operate and maintain the Project Facilities and Services or such of them, as directed by Concessioning Authority until completion of the relative transfer formalities and (b) account for andpay to the Concessioning Authority the Tariff collected and other revenues derived from the Projectminus operating costs and statutory dues, from such operations. In the event of failure to do so, theConcessionaire shall be liable to pay to the Concessioning Authority, for every Day of delay, liquidated damages computed at the rate of the average daily profits earned during the 3 (three) years immediately preceding the Transfer Date, or from COD till Transfer date in case the Project is terminated less than three years from COD. Parties confirm that this is a true and correct estimate ofdamages and not in the nature of a penalty. Provided nothing contained in this Article 17.6 shall bedeemed or construed to authorise delay in completion of formalities of transfer of assets, rights and contracts by the Concessionaire to the Concessioning Authority in accordance with the requirementsthereof under this Agreement. In case the transfer of assets by the Concessionaire to the Concessioning Authority is delayed forreasons attributable to the Concessioning Authority, the Concessionaire shall nonetheless continueto operate the Project Facilities and Services but as agent of the Concessioning Authority. Provided however, the Concessionaire shall be liable to pay Royalty in accordance with Article 9.2.
Delayed Transfer of Assets. If for any reasons other than those attributable to the Concessioning Authority the Concessionaire fails to transfer assets, rights and contracts on the Transfer Date in accordance with Article 16.5 read with Article 18, there shall be no suspension of the operation and maintenance of the Project Facilities and Services and the Concessionaire shall, as a trustee of the Concessioning Authority,
Delayed Transfer of Assets. (a) If following the Closing, Seller receives or become aware that they hold any asset, property or right which constitutes a Purchased Asset, then Seller shall transfer such asset, property or right to the Purchaser as promptly as practicable for no additional consideration.
Delayed Transfer of Assets. If for any reasons other than those attributable to the Authority the Operator fails to transfer assets, rights and contracts on the Transfer Date in accordance with Article 16.5 read with Article 17, there shall be no suspension of the operation and maintenance of the Project Facilities and Services and the Operator shall, as a trustee of the Authority, (a) continue to operate and maintain the Project Facilities and Services or such of them, as directed by Authority until completion of the relative transfer formalities and (b) account for and pay to the Authority the Project Revenue minus operating costs and statutory dues, from such operations. In the event of failure to do so, the Operator shall be liable to pay to the Authority, for every Day of delay, liquidated damages computed at the rate of the average daily profits earned during the 3 (three) years immediately preceding the Transfer Date. Parties confirm that this is a true and correct estimate of damages and not in the nature of a penalty. Provided nothing contained in this Article 16.6 shall be deemed or construed to authorise delay in completion of formalities of transfer of assets, rights and contracts by the Operator to the Authority in accordance with the requirements thereof under this Agreement. In case the transfer of assets by the Operator to the Authority is delayed for reasons attributable to the Authority, the Operator shall nonetheless continue to operate the Project Facilities and Services but as agent of the Authority.
Delayed Transfer of Assets. If for any reasons other than those attributable to the Licensor, the Licensee fails to transfer assets, rights and contracts on the Transfer Date in accordance with Article 11.5 read with Article 13, there shall be no suspension of the operation and maintenance of the Project Facilities and Services and the Licensee shall, as agent of the Licensor (a) continue to operate and maintain the Project Facilities and Services until completion of the transfer formalities and (b) account for and pay to the Licensor the revenue net of operating costs and statutory dues, from such operations. In addition the Licensee shall also be liable to pay to the Licensor, for each day of delay, liquidated damages computed at the rate of the average daily after tax profits earned during the three years immediately preceding the Transfer Date. Provided nothing contained in this Article
Delayed Transfer of Assets. If for any reasons other than those attributable to Concessioning Authority the Concessionaire fails to transfer assets, rights and contracts on the Transfer Date in accordance with Article
