Common use of Equity Lock-in requirements Clause in Contracts

Equity Lock-in requirements. The Concessionaire acknowledges that: (a) The Selected Bidder shall hold 100% shareholding in the paid-up equity capital of the Concessionaire until expiration of 1 year from COD, 51% shareholding in the paid up equity capital until expiration of 10 years from COD and thereafter 26% shareholding in the paid up equity capital during the remaining Concession period. Provided that in case the Selected Bidder is a Consortium of entities, then the lead member (the “Lead Member”) of such Consortium and a member of the consortium, meeting either Technical Capacity or Financial Capacity, shall have an equity share holding of at least 51% (fifty one percent) of the paid up Equity capital of the concessionaire and that all the members of the consortium together shall hold 100% equity capital of the Concessionaire, until expiry of 1year from COD, 51% shareholding in the paid up equity capital until expiration of 10 years from COD and thereafter 26% shareholding in the paid up equity capital during the remaining Concession period. Provided further that a member of the Consortium meeting either Technical Capacity or Financial Capacity shall subscribe at least 26% (twenty six per cent) or more of the paid up and subscribed equity of the SPV, until 2nd (Second) anniversary of the COD for member meeting technical criteria and until 1st (First) anniversary of the COD for member meeting financial criteria. (b) Any violation in the shareholding pattern in the equity lock-in requirements would be treated as Concessionaire’s Event of Default.

Equity Lock-in requirements. The Concessionaire acknowledges that: (a) The Selected Bidder shall hold 100% shareholding in the paid-up equity capital of the Concessionaire until expiration of 1 year from COD, 51% shareholding in the paid up equity capital until expiration of 10 years from COD and thereafter 26% shareholding in the paid up equity capital during the remaining Concession period. Provided that in case the Selected Bidder is a Consortium of entities, then the lead member (the “Lead Member”) of such Consortium and and, a member of the consortium, Consortium meeting either Technical Capacity technical capacity or Financial Capacity, financial capacity shall have an equity share holding of at least 51% (fifty one percent) of the paid up Equity capital of the concessionaire and that all the members of the consortium together shall hold 100% equity capital of the Concessionaire, until expiry of 1year from COD, 51% shareholding in the paid up equity capital until expiration of 10 years from COD and thereafter 26% shareholding in the paid up equity capital during the remaining Concession period. Provided further futher that a member of the Consortium meeting either Technical Capacity technical capacity or Financial Capacity financial capcity shall subscribe at least 26% (twenty six per cent( Twenty Six Percent) or more of the paid up and subscribed equity of the SPV, until 2nd 02nd (Secondsecond) anniversary of the COD for member meeting technical criteria and of until 1st 01st (Firstfirst) anniversary of the COD Anniverssary for member meeting financial criteria. . (b) Any violation in the shareholding pattern in the equity lock-in requirements would be treated as Concessionaire’s Event of Default.

Equity Lock-in requirements. The Concessionaire acknowledges that: (a) The Selected Bidder shall hold 100% shareholding in the paid-up equity capital of the Concessionaire until expiration of 1 year from COD, 51% shareholding in the paid up equity capital until expiration of 10 years from COD and thereafter 26% shareholding in the paid up equity capital during the remaining Concession period. Provided that in case the Selected Bidder is a Consortium of entities, then the lead member (the “Lead Member”) of such Consortium and a member of the consortium, consortium meeting either Technical Capacity or Financial Capacity, Capacity shall have an equity share holding of at least 51% (fifty one percent) of the paid up Equity capital of the concessionaire and that all the members of the consortium together shall hold 100% equity capital of the Concessionaire, until expiry of 1year from COD, 51% shareholding in the paid up equity capital until expiration of 10 years from COD and thereafter 26% shareholding in the paid up equity capital during the remaining Concession period. Provided further futher that a member of the Consortium meeting either Technical Capacity or Financial Capacity shall subscribe at least 26% (( twenty six per centpercent) or more of the paid up and subscribed equity of the SPVSPV , until 2nd (Second) anniversary 02nd Anniverssary of the COD for member meeting the technical criteria and until 1st (First) anniversary 01st anniversssary of the COD for member meeting the financial criteria. . (b) Any violation in the shareholding pattern in the equity lock-in requirements would be treated as Concessionaire’s Concessionaire‟s Event of Default.

Equity Lock-in requirements. The Concessionaire acknowledges that: (a) 5.10.1. In case The Selected Bidder is a sole entity, it shall hold [100% shareholding (one hundred per cent)] share holding in the paid-up equity Equity capital of the Concessionaire until expiration of [1 (one)] year from COD, a minimum [51% (fifty one per cent)] shareholding in the paid paid-up equity Equity capital of the Concessionaire until the expiration of 10 [2 (two)] years from COD and thereafter a minimum [26% (twenty six per cent)] shareholding in the paid up equity capital during the remaining Concession periodPeriod. 5.10.2. Provided that in In case the Selected Bidder is a Consortium of entities, then the lead member (the “Lead Member”the―“Lead Member”‖) of such Consortium and a member of the consortium, meeting either Technical Capacity or Financial Capacity, shall have an equity share holding of at least 51% (fifty one percentother member(s) of the paid up Equity capital of the concessionaire and that all the members of the consortium together shall hold [100% equity (one hundred per cent)] Equity capital of the Concessionaire, until expiry of 1year [1 (one)]year from COD, a minimum [51% (fifty one percent)] shareholding in the paid paid-up equity Equity capital of the Concessionaire until the expiration of 10 [2 (two)] years from COD and thereafter a minimum [26% (twenty six per cent)] shareholding in the paid paid-up equity Equity capital during the remaining Concession period. The original percentage of shareholding of each consortium member including lead member at the bidding stage as specified in Joint Bidding Agreement shall remain unchanged until expiry of 1 (one) year from COD. 5.10.3. Provided further that a member of the Consortium meeting either the Technical Capacity or Financial Capacity Criteria shall subscribe hold at least 26% (twenty Twenty-six per cent) or more of the paid paid-up and subscribed equity Equity of the SPV, SPV until the 2nd (Secondsecond)anniversary of the COD. Provided further that Consortium meeting the Technical Criteria by two members then each such member shall hold at least 13% (Thirteen per cent) of the paid-up and subscribed Equity of the SPV until the 2nd (second) anniversary of the COD for member meeting technical criteria and until 1st (First) anniversary of the COD for member meeting financial criteriaCOD. (b) 5.10.4. Any violation in the shareholding pattern in the equity lock-in requirements would be treated as Concessionaire’s Concessionaire Event of Default.

Equity Lock-in requirements. The Concessionaire acknowledges that: (a) The Selected Bidder shall hold 100% shareholding in the paid-up equity capital of the Concessionaire until expiration of 1 year from COD, 51% shareholding in the paid up equity capital until expiration of 10 years from COD and thereafter 26% shareholding in the paid up equity capital during the remaining Concession period. Provided that in case the Selected Bidder is a Consortium of entities, then the lead member (the “Lead Member”) of such Consortium and a the member of the consortium, meeting either Technical Capacity or Financial Capacitywhose credentials were considered for prequalification for bid, shall have an equity share holding of at least 51% (fifty one percent) of the paid up Equity capital of the concessionaire and that all the members of the consortium together shall hold 100% equity capital of the Concessionaire, until expiry of 1year from COD, 51% shareholding in the paid up equity capital until expiration of 10 years from COD and thereafter 26% shareholding in the paid up equity capital during the remaining Concession period. Provided further futher that a the consortium member of meeting the Consortium meeting either Technical Capacity or Financial Capacity financial eligibility during the bidding stage shall subscribe at least 26% (twenty six per cent) or more of the paid up and subscribed be required to maintain its equity of the SPV, until 2nd (Second) holding till 1st anniversary of COD and the COD for consortium member meeting the technical criteria and until 1st (First) eligibility during bidding stage shall be required to maintain its equity holding till 2nd anniversary of the COD for member meeting financial criteriaCOD. (b) Any violation in the shareholding pattern in the equity lock-in requirements would be treated as Concessionaire’s Concessionaire‟s Event of Default.

Equity Lock-in requirements. The Concessionaire acknowledges that: (a) The Selected Bidder shall hold 100% shareholding in the paid-up equity capital of the Concessionaire until expiration of 1 year from COD, 51% shareholding in the paid up equity capital until expiration of 10 years from COD and thereafter 26% shareholding in the paid up equity capital during the remaining Concession period. Provided that in case the Selected Bidder is a Consortium of entities, then the lead member (the “Lead Member”) of such Consortium and a the member of the consortium, meeting either Technical Capacity or Financial Capacitywhose credentials were considered for prequalification for bid, shall have an equity share holding of at least 51% (fifty one percent) of the paid up Equity capital of the concessionaire and that all the members of the consortium together shall hold 100% equity capital of the Concessionaire, until expiry of 1year from COD, 51% shareholding in the paid up equity capital until expiration of 10 years from COD and thereafter 26% shareholding in the paid up equity capital during the remaining Concession period. Provided further futher that a the consortium member of meeting the Consortium meeting either Technical Capacity or Financial Capacity financial eligibility during the bidding stage shall subscribe at least 26% (twenty six per cent) or more of the paid up and subscribed be required to maintain its equity of the SPV, until 2nd (Second) holding till 1st anniversary of COD and the COD for consortium member meeting the technical criteria and until 1st (First) eligibility during bidding stage shall be required to maintain its equity holding till 2nd anniversary of the COD for member meeting financial criteriaCOD. (b) Any violation in the shareholding pattern in the equity lock-in requirements would be treated as Concessionaire’s Event of Default.

Equity Lock-in requirements. The Concessionaire acknowledges that: (a) 5.10.1. In case The Selected Bidder is a sole entity, it shall hold [100% shareholding (one hundred per cent)] share holding in the paid-up equity Equity capital of the Concessionaire until expiration of [1 (one)] year from COD, a minimum [51% (fifty one per cent)] shareholding in the paid paid-up equity Equity capital of the Concessionaire until the expiration of 10 [2 (two)] years from COD and thereafter a minimum [26% (twenty six per cent)] shareholding in the paid up equity capital during the remaining Concession periodPeriod. 5.10.2. Provided that in In case the Selected Bidder is a Consortium of entities, then the lead member (the “Lead Member”the―“Lead Member”‖) of such Consortium and a member of the consortium, meeting either Technical Capacity or Financial Capacity, shall have an equity share holding of at least 51% (fifty one percentother member(s) of the paid up Equity capital of the concessionaire and that all the members of the consortium together shall hold [100% equity (one hundred per cent)] Equity capital of the Concessionaire, until expiry of 1year [1 (one)]year from COD, a minimum [51% (fifty one percent)] shareholding in the paid paid-up equity Equity capital of the Concessionaire until the expiration of 10 [2 (two)] years from COD and thereafter a minimum [26% (twenty six per cent)] shareholding in the paid paid-up equity Equity capital during the remaining Concession period. 1.1.1. Provided further that a member of the Consortium meeting either the Technical Capacity or shall subscribe at least 10%(ten per cent) of the paid-up and subscribed Equity of the SPV until the 2nd (second)anniversary of the COD. Provided further that a member of the Consortium meeting the Financial Capacity shall subscribe at least 26% (twenty six 10%(ten per cent) or more of the paid paid-up and subscribed equity Equity of the SPV, SPV until 2nd the 1st (Secondfirst) anniversary of the COD for the member meeting technical criteria and until 1st (First) anniversary of the COD for member meeting financial criteriaFinancial Capacity. (b) 5.10.3. Any violation in the shareholding pattern in the equity lock-in requirements would be treated as Concessionaire’s Concessionaire Event of Default.

Equity Lock-in requirements. The Concessionaire acknowledges that: (a) The Selected Bidder shall hold 100% shareholding in the paid-up equity capital of the Concessionaire until expiration of 1 year from COD, 51% shareholding in the paid up equity capital until expiration of 10 years from COD and thereafter 26% shareholding in the paid up equity capital during the remaining Concession period. Provided that in case the Selected Bidder is a Consortium of entities, then the lead member (the “Lead Member”) of such Consortium and a member of the consortium, meeting either Technical Capacity or Financial Capacity, shall have an equity share holding of at least 51% (fifty one percent) of the paid up Equity capital of the concessionaire and that all the members of the consortium together shall hold 100% equity capital of the Concessionaire, until expiry of 1year from COD, 51% shareholding in the paid up equity capital until expiration of 10 years from COD and thereafter 26% shareholding in the paid up equity capital during the remaining Concession period. Provided further that a member of the Consortium meeting either Technical Capacity or Financial Capacity shall subscribe at least 26% (twenty six per cent) or more of the paid up and subscribed equity of the SPV, until 2nd (Second) anniversary of the COD for member meeting technical criteria and until 1st (First) anniversary of the COD for member meeting financial criteria. (b) Any violation in the shareholding pattern in the equity lock-in requirements would be treated as Concessionaire’s Concessionaire‟s Event of Default.