Common use of EFFECT OF VARIATIONS IN TRAFFIC GROWTH Clause in Contracts

EFFECT OF VARIATIONS IN TRAFFIC GROWTH. 29.1 Effect of variation in traffic growth 29.1.1 The MPRDC and the Concessionaire acknowledge that the traffic as on 1 June 2020 (the “Target Date”) is estimated to be 37096 PCUs per day (the “Target Traffic, and hereby agree that for determining the modifications to the Concession Period under this Article 29, the actual traffic on the Target Date shall be derived by the period under this Article 29, the actual traffic on the Target date shall derived by computing the average of the traffic as determined by traffic sampling to be undertaken, in accordance with Clause 22.3 on the date that falls one year prior to the Target Date (the “Actual Traffic”). For the avoidance of doubt, it is agreed that traffic sampling shall be undertaken for a continuous period of 7 (seven) days during anytime within 15(fifteen) days prior to the date specified herein and the average shall be deemed to be actual traffic. 29.1.2 In the event that the Actual Traffic shall have fallen short of the Target Traffic by more than 2.5% (two point five percent) thereof or exceeded the Target Traffic by more than 2.5% (two point five percent) thereof, the Concession Period shall be deemed to be modified in accordance with Clause 29.2. For the avoidance of doubt, in the event of any Dispute relating to Actual Traffic, the Dispute Resolution Procedure shall apply.

EFFECT OF VARIATIONS IN TRAFFIC GROWTH. 29.1 Effect of variation variations in traffic growth 29.1.1 The MPRDC Government and the Concessionaire acknowledge that the traffic as on 1 June 2020 October 1, 2023 (the “Target Date”) is estimated to be 37096 25,732 PCUs per day (the “Target Traffic”), and hereby agree that for determining the modifications to the Concession Period under this Article 29, the actual traffic on the Target Date shall be derived by the period under this Article 29, the actual traffic on the Target date shall derived by computing the average of the traffic as determined by traffic sampling to be undertaken, in accordance with Clause 22.3 22.3, on the date that falls one year prior to the Target Date, on the Target Date and on the first anniversary of the Target Date (the “Actual Average Traffic”). For the avoidance of doubt, it is agreed that traffic sampling shall be undertaken for a continuous period of 7 (seven) days during anytime within 15(fifteen15 (fifteen) days prior to the date specified herein and the average thereof shall be deemed to be the actual traffic. It is further agreed that if the Project Highway shall have two or more Toll Plazas, the average traffic thereof shall be computed for determining the Actual Average Traffic hereunder. 29.1.2 In the event that the Actual Average Traffic shall have fallen short of the Target Traffic by more than 2.5% (two point five percentper cent) thereof or exceeded the Target Traffic by more than 2.5% (two point five percentper cent) thereof, the Concession Period shall be deemed to be modified in accordance with Clause 29.2. For the avoidance of doubt, in the event of any Dispute relating to Actual Traffic, the Dispute Resolution Procedure shall apply.Clause

EFFECT OF VARIATIONS IN TRAFFIC GROWTH. 29.1 Effect of variation variations in traffic growth 29.1.1 The MPRDC Government and the Concessionaire acknowledge that the traffic as on 1 June 2020 October 1, 2023 (the “Target Date”) is estimated to be 37096 12388 PCUs per day (the “Target Traffic”) , and hereby agree that for determining the modifications to the Concession Period under this Article 29, the actual traffic on the Target Date shall be derived by the period under this Article 29, the actual traffic on the Target date shall derived by computing the average of the traffic as determined by traffic sampling to be undertaken, in accordance with Clause 22.3 22.3, on the date that falls one year prior to the Target Date, on the Target Date and on the first anniversary of the Target Date (the “Actual Average Traffic”). For the avoidance of doubt, it is agreed that traffic sampling shall be undertaken for a continuous period of 7 (seven) days during anytime within 15(fifteen15 (fifteen) days prior to the date specified herein and the average thereof shall be deemed to be the actual traffic. It is further agreed that if the Project Highway shall have two or more Toll Plazas, the average traffic thereof shall be computed for determining the Actual Average Traffic hereunder. 29.1.2 In the event that the Actual Average Traffic shall have fallen short of the Target Traffic by more than 2.5% (two point five percentper cent) thereof or exceeded the Target Traffic by more than 2.5% (two point five percentper cent) thereof, the Concession Period shall be deemed to be modified in accordance with Clause 29.2. For the avoidance of doubt, in the event of any Dispute relating to Actual Traffic, the Dispute Resolution Procedure shall apply.Clause

EFFECT OF VARIATIONS IN TRAFFIC GROWTH. 29.1 Effect of variation variations in traffic growth 29.1.1 The MPRDC Authority and the Concessionaire acknowledge that the traffic as on 1 June 2020 October 1, 2025 (the “Target Date”) is estimated to be 37096 46,681 PCUs per day (the “Target Traffic”), and hereby agree that for determining the modifications to the Concession Period under this Article 29, the actual traffic on the Target Date shall be derived by the period under this Article 29, the actual traffic on the Target date shall derived by computing the average of the traffic as determined by traffic sampling to be undertaken, in accordance with Clause 22.3 22.3, on the date that falls one year prior to the Target Date, on the Target Date and on the first anniversary of the Target Date (the “Actual Average Traffic”). For the avoidance of doubt, it is agreed that traffic sampling shall be undertaken for a continuous period of 7 (seven) days during anytime within 15(fifteen15 (fifteen) days prior to the date specified herein and the average thereof shall be deemed to be the actual traffic.. It is further agreed that if the Project Highway shall have two or more Toll Plazas, the average traffic thereof shall be computed for determining the Actual Average Traffic hereunder 29.1.2 In the event that the Actual Average Traffic shall have fallen short of the Target Traffic by more than 2.5% (two point five percentper cent) thereof or exceeded the Target Traffic by more than 2.5% (two point five percentper cent) thereof, the Concession Period shall be deemed to be modified in accordance with Clause 29.2. For the avoidance of doubt, in the event of any Dispute relating to Actual Average Traffic, the Dispute Resolution Procedure shall apply.

EFFECT OF VARIATIONS IN TRAFFIC GROWTH. 29.1 Effect of variation variations in traffic growth 29.1.1 The MPRDC and the Concessionaire acknowledge that the traffic as on 1 June 2020 June, 2041 (the “Target Date”) is estimated to be 37096 15457 PCUs per day (the “Target Traffic”), and hereby agree that for determining the modifications to the Concession Period under this Article 29, the actual traffic on the Target Date shall be derived by the period under this Article 29, the actual traffic on the Target date shall derived by computing the average of the traffic as determined by traffic sampling to be undertaken, in accordance with Clause 22.3 22.3, on the date that falls one year prior to the Target Date, on the Target Date and on the first anniversary of the Target Date (the “Actual Average Traffic”). For the avoidance of doubt, it is agreed that traffic sampling shall be undertaken for a continuous period of 7 (seven) days during anytime within 15(fifteen15 (fifteen) days prior to the date specified herein and the average thereof shall be deemed to be the actual traffic. It is further agreed that if the Project Highway shall have two or more Toll Plazas, the average traffic thereof shall be computed for determining the Actual Average Traffic hereunder. 29.1.2 In the event that the Actual Average Traffic shall have fallen short of the Target Traffic by more than 2.5% (two point five percentper cent) thereof or exceeded the Target Traffic by more than 2.5% (two point five percentper cent) thereof, the Concession Period shall be deemed to be modified in accordance with Clause 29.2. For the avoidance of doubt, in the event of any Dispute relating to Actual Average Traffic, the Dispute Resolution Procedure shall apply.

EFFECT OF VARIATIONS IN TRAFFIC GROWTH. 29.1 Effect of variation in traffic growth 29.1.1 The MPRDC and the Concessionaire acknowledge that the traffic as on 1 June 1, 2020 (the “Target Date”) is estimated to be 37096 26800 PCUs per day (the “Target Traffic”), and hereby agree that for determining the modifications to the Concession Period under this Article 29, the actual traffic on the Target Date shall be derived by the period under this Article 29, the actual traffic on the Target date shall derived by computing the average of the traffic as determined by traffic sampling to be undertaken, in accordance with Clause 22.3 on the date that falls one year prior to the Target Date (the “Actual Traffic”). For the avoidance of doubt, it is agreed that traffic sampling shall be undertaken for a continuous period of 7 (seven) days during anytime within 15(fifteen) days prior to the date specified herein and the average shall be deemed to be actual traffic. 29.1.2 In the event that the Actual Traffic shall have fallen short of the Target Traffic by more than 2.5% (two point five percent) thereof or exceeded the Target Traffic by more than 2.5% (two point five percent) thereof, the Concession Period shall be deemed to be modified in accordance with Clause 29.2. For the avoidance of doubt, in the event of any Dispute relating to Actual Traffic, the Dispute Resolution Procedure shall apply.

EFFECT OF VARIATIONS IN TRAFFIC GROWTH. 29.1 Effect of variation variations in traffic growth 29.1.1 The MPRDC Authority and the Concessionaire acknowledge that the traffic as on 1 June 2020 October 1, 2025 (the “Target Date”) is estimated to be 37096 44345 PCUs per day (the “Target Traffic”), and hereby agree that for determining the modifications to the Concession Period under this Article 29, the actual traffic on the Target Date shall be derived by the period under this Article 29, the actual traffic on the Target date shall derived by computing the average of the traffic as determined by traffic sampling to be undertaken, in accordance with Clause 22.3 22.3, on the date that falls one year prior to the Target Date, on the Target Date and on the first anniversary of the Target Date (the “Actual Average Traffic”). For the avoidance of doubt, it is agreed that traffic sampling shall be undertaken for a continuous period of 7 (seven) days during anytime within 15(fifteen15 (fifteen) days prior to the date specified herein and the average thereof shall be deemed to be the actual traffic.. It is further agreed that if the Project Highway shall have two or more Toll Plazas, the average traffic thereof shall be computed for determining the Actual Average Traffic hereunder 29.1.2 In the event that the Actual Average Traffic shall have fallen short of the Target Traffic by more than 2.5% (two point five percentper cent) thereof or exceeded the Target Traffic by more than 2.5% (two point five percentper cent) thereof, the Concession Period shall be deemed to be modified in accordance with Clause 29.2. For the avoidance of doubt, in the event of any Dispute relating to Actual Average Traffic, the Dispute Resolution Procedure shall apply.