EFFECT OF VARIATIONS IN TRAFFIC GROWTH. 24.1 Effect of variations in traffic growth on the Concession Period 24.1.1 The Parties acknowledge that the total NTKM during the Concession Period as [on October 1, 20 ] is estimated to be ***** (the “Target Traffic”)13. 24.1.2 In the event that, as on expiry of 25th (twenty fifth) year after Appointed Date the actual NTKM shall have fallen short of the Target Traffic by more than [4% (four per cent) thereof or exceeded the Target Traffic by more than [4% (four per cent) thereof, the Concession Period shall be deemed to be modified in accordance with Clause 24.2. For the avoidance of doubt, in the event of any Dispute relating to actual NTKM, the Dispute Resolution Procedure shall apply.
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Samples: Construction Agreement, Construction Agreement
EFFECT OF VARIATIONS IN TRAFFIC GROWTH. 24.1 Effect of variations in traffic growth on the Concession Period
24.1.1 The Parties acknowledge that the total NTKM during the Concession Period as [on October 1, 20 ] is estimated to be ***** (the “Target Traffic”)13Traffic”)11.
24.1.2 In the event that, as on expiry of 25th (twenty fifth) year after Appointed Date the actual NTKM shall have fallen short of the Target Traffic by more than [4% (four per cent) thereof or exceeded the Target Traffic by more than [4% (four per cent) thereof, the Concession Period shall be deemed to be modified in accordance with Clause 24.2. For the avoidance of doubt, in the event of any Dispute relating to actual NTKM, the Dispute Resolution Procedure shall apply.
Appears in 1 contract
Samples: Construction Agreement
EFFECT OF VARIATIONS IN TRAFFIC GROWTH. 24.1 Effect of variations in traffic growth on the Concession Period
24.1.1 The Parties acknowledge that the total NTKM during the Concession Period as [on October 1, 20 ] is estimated to be ***** (the “Target Traffic”)13Traffic”)12.
24.1.2 In the event that, as on expiry of 25th (twenty fifth) year after Appointed Date the actual NTKM shall have fallen short of the Target Traffic by more than [4% (four per cent) thereof or exceeded the Target Traffic by more than [4% (four per cent) thereof, the Concession Period shall be deemed to be modified in accordance with Clause 24.2. For the avoidance of doubt, in the event of any Dispute relating to actual NTKM, the Dispute Resolution Procedure shall apply.
Appears in 1 contract
Samples: Construction Agreement