Common use of Extension of Concession Period Clause in Contracts

Extension of Concession Period. The Monitoring Committee shall upon being notified by the Concessionaire of the Change in Law and the proposed amendments to this Agreement, assess the change in the financial position as a result of such Change of Law and determine the extension to the Concession Period so as to put the Concessionaire in the same financial position as it would have occupied had there been no such Change in Law and recommend the same to NGS/SMC. NGS/SMC shall, within 30 days of receipt of such recommendation, extend the Concession Period by such period as has been recommended by the Monitoring Committee.

Extension of Concession Period. The Project Monitoring Committee shall upon being notified by the Concessionaire of the Change in Law and the proposed amendments to this Agreement, assess the change in the financial position as a result of such Change of Law and determine the extension to the Concession Period so as to put the Concessionaire in the same financial position as it would have occupied had there been no such Change in Law and recommend the same to NGS/SMCMMC. NGS/SMC MMC shall, within 30 days of receipt of such recommendation, extend the Concession Period by such period as has been recommended by the Project Monitoring Committee.

Extension of Concession Period. The Project Monitoring Committee shall upon being notified by the Concessionaire of the Change in Law and the proposed amendments to this Agreement, assess the change in the financial position as a result of such Change of Law and determine the extension to the Concession Period so as to put the Concessionaire in the same financial position as it would have occupied had there been no such Change in Law and recommend the same to NGS/SMCJMC. NGS/SMC JMC shall, within 30 days of receipt of such recommendation, extend the Concession Period by such period as has been recommended by the Project Monitoring Committee.