Common use of Equity Support Clause in Contracts

Equity Support. 25.2.1 Subject to the conditions specified in this Clause 25.2, the funds raised by the Concessionaire through development of the said land/other revenue sources shall be credited in the Escrow Account and shall be applied by the Concessionaire for meeting the Total Project Cost (the “Equity Support”). 25.2.2 The Equity Support shall be equal to the sum specified in the Bid and as accepted by MSRDC, but in no case greater than the Equity, and shall be further restricted to a sum not exceeding 20% (twenty per cent) of the Total Project Cost. For the avoidance of doubt, the Total Project Cost to be reckoned for the purposes of this Clause 25.2.2 shall be exclusive of Equity Support. 25.2.3 The Equity Support by way of additional land on lease shall be due and expendable by the Concessionaire after it has expended the Equity, and shall be utilized proportionately along with the loan funds thereafter remaining to be disbursed by the Senior Lenders under the Financing Agreements. MSRDC shall disburse each tranche of the Equity Support as aforesaid by credit to the ESCROW Account within 15 (fifteen) days of the release of each loan installment by the Senior Lenders to the Concessionaire provided the Concessionaire has submitted to MSRDC along with each disbursement request a certificate from its Statutory Auditors certifying the above particulars and has given at least 7 (seven) days to MSRDC for processing the request. 25.2.4 In the event of occurrence of a Concessionaire Default, utilization of Equity Support shall be suspended till such Concessionaire Default has been cured by the Concessionaire.

Equity Support. 25.2.1 Subject to the conditions specified in this Clause 25.2, the funds raised by the Concessionaire through development of the said land/other revenue sources Grant shall be credited in to the Escrow Account and shall be applied by the Concessionaire for meeting the Total Project Cost (the “Equity Support”). 25.2.2 The Equity Support shall be equal to not exceed the sum specified in the Bid and as accepted by MSRDCMPRDC, but shall in no case be greater than the Equity, and shall be further restricted to a sum not exceeding 20% (twenty per cent) of the Total Project Cost. For the avoidance of doubt, the Total Project Cost to be reckoned for the purposes of this Clause 25.2.2 shall be exclusive of include Equity Support. 25.2.3 The Equity Support by way of additional land on lease shall be due and expendable by payable to the Concessionaire after it has expended the Equity, and shall be utilized disbursed proportionately along with the loan funds thereafter remaining to be disbursed by the Senior Lenders under the Financing Agreements. MSRDC MPRDC shall disburse each tranche of the Equity Support as aforesaid by credit to the ESCROW Account within and when due, but no later than 15 (fifteen) days of the release of each loan installment by the Senior Lenders to receiving a request from the Concessionaire provided the Concessionaire has submitted to MSRDC along with each disbursement request a certificate from its Statutory Auditors certifying the above particulars and has given at least 7 (seven) days to MSRDC for processing the requestnecessary particulars. 25.2.4 In the event of occurrence of a Concessionaire Default, utilization disbursement of Equity Support shall be suspended till such Concessionaire Default has been cured by the Concessionaire. 25.2.5 Subject to the provisions of the Scheme of Financial Support to Public Private Partnership in Infrastructure as notified by the Central Government (the “Scheme for Financial Assistance”), the Government shall, for funding the Grant specified in Clause 25.1.1, use its best endeavours and provide all reasonable support to the Concessionaire for obtaining viability gap funding under the Scheme for Financial Assistance. For the avoidance of doubt, it is expressly agreed that in the event of the Concessionaire being able to receive such viability gap funding for the Project, the same shall, for the purposes of this Agreement be deemed to be Grant by MPRDC hereunder, to be disbursed in accordance with the provisions of the Scheme for Financial Assistance. It is further agreed that MPRDC shall at all times discharge its obligation to disburse Grant under and in accordance with this Article 25 whether or not funds are disbursed to the Concessionaire under the Scheme for Financial Assistance.

Equity Support. 25.2.1 Subject to the conditions specified in this Clause 25.2, the funds raised by the Concessionaire through development of the said land/other revenue sources Grant shall be credited in to the Escrow Account and shall be applied by the Concessionaire for meeting the Total Project Cost (the “Equity Support”). 25.2.2 The Equity Support shall be equal to not exceed the sum specified in the Bid and as accepted by MSRDCthe Authority, but shall in no case be greater than the Equity, and shall be further restricted to a sum not exceeding 2020 % (twenty per cent) of the Total Project Cost. For the avoidance of doubt, the Total Project Cost to be reckoned for the purposes of this Clause 25.2.2 shall be exclusive of include Equity Support. 25.2.3 The Equity Support by way of additional land on lease shall be due and expendable by payable to the Concessionaire after it has expended the Equity, and shall be utilized disbursed proportionately along with the loan funds thereafter remaining to be disbursed by the Senior Lenders under the Financing Agreements. MSRDC The Authority shall disburse each tranche of the Equity Support as aforesaid by credit to the ESCROW Account within and when due, but no later than 15 (fifteen) days of the release of each loan installment by the Senior Lenders to receiving a request from the Concessionaire provided the Concessionaire has submitted to MSRDC along with each disbursement request a certificate from its Statutory Auditors certifying the above particulars and has given at least 7 (seven) days to MSRDC for processing the requestnecessary particulars. 25.2.4 In the event of occurrence of a Concessionaire Default, utilization disbursement of Equity Support shall be suspended till such Concessionaire Default has been cured by the Concessionaire. 25.2.5 Subject to the provisions of the Scheme of Financial Support to Public Private Partnership in Infrastructure as notified by the Central Government (the “Scheme for Financial Assistance”), the Authority shall, for funding the Grant specified in Clause 25.1.1, use its best endeavours and provide all reasonable support to the Concessionaire for obtaining viability gap funding under the Scheme for Financial Assistance. For the avoidance of doubt, it is expressly agreed that in the event of the Concessionaire being able to receive such viability gap funding for the Project, the same shall, for the purposes of this Agreement be deemed to be Grant by the Authority hereunder, to be disbursed in accordance with the provisions of the Scheme for Financial Assistance. It is further agreed that the Authority shall at all times discharge its obligation to disburse Grant under and in accordance with this Article 25 whether or not funds are disbursed to the Concessionaire under the Scheme for Financial Assistance.

Equity Support. 25.2.1 Subject to the conditions specified in this Clause 25.2, the funds raised by the Concessionaire through development of the said land/other revenue sources Grant shall be credited in to the Escrow Account and shall be applied by the Concessionaire for meeting the Total Project Cost (the “Equity Support”). 25.2.2 The Equity Support shall be equal to the not exceed in sum specified in the Bid and as accepted by MSRDCthe Authority, but shall in no case be greater than the Equity, and shall be further restricted to a sum not exceeding 2040% (twenty per centforty percent) of the Total Project Cost. For the avoidance of doubt, the Total Project Cost to be reckoned for the purposes of this Clause 25.2.2 shall be exclusive of include Equity Support. 25.2.3 The Equity Support by way of additional land on lease shall be due and expendable by payable to the Concessionaire after it has expended the Equity, and shall be utilized disbursed proportionately along with the loan funds thereafter remaining to be disbursed by the Senior Lenders under the Financing Agreements. MSRDC MPRDC shall disburse each tranche of the Equity Support as aforesaid by credit to the ESCROW Account within and when due, but not later than 15 (fifteen) days of the release of each loan installment by the Senior Lenders to receiving a request from the Concessionaire provided the Concessionaire has submitted to MSRDC along with each disbursement request a certificate from its Statutory Auditors certifying the above particulars and has given at least 7 (seven) days to MSRDC for processing the requestnecessary particulars. 25.2.4 In the event of occurrence of a Concessionaire Default, utilization disbursement of Equity Support shall be suspended till such Concessionaire Default has been cured by the Concessionaire. 25.2.5 Subject to the provisions of the Scheme of Financial Support to Public Private Partnership in Infrastructure as notified by the Central Government (the “Scheme for Financial Assistance”), the Government shall, for funding the Grant specified in Clause 25.1.1, use its best endeavours and provide all reasonable support to the Concessionaire for obtaining viability gap Funding under the Scheme for Financial Assistance. For the avoidance of doubt, it is expressly agreed that in the event of the Concessionaire being able to receive such viability gap funding for the Project, the same shall, for the purposes of this Agreement be deemed to be Grant by MPRDC hereunder, to be disbursed in accordance with the provisions of the Scheme for Financial Assistance. It is further agreed that MPRDC shall at all times discharge kits obligation to disburse Grant under and in accordance with this Article 25 whether or not funds are disbursed to the Concessionaire under the Scheme for Financial Assistance.