Common use of Financial Close Clause in Contracts

Financial Close. 24.1.1 The Concessionaire hereby agrees and undertakes that it shall achieve Financial Close within 180 (one hundred and eighty) days from the date of this Agreement and in the event of delay, it shall be entitled to a further period not exceeding 120 (one hundred and twenty) days, subject to payment of Damages to the Authority in a sum calculated at the rate of 0.1% (zero point one per cent) of the Performance Security for each day of delay; provided that the Damages specified herein shall be payable every week in advance and the period beyond the said 180 (one hundred and eighty) days shall be granted only to the extent of Damages so paid; provided further that no Damages shall be payable if such delay in Financial Close has occurred solely as a result of any default or delay by the Authority in procuring satisfaction of the Conditions Precedent specified in Clause 4.1.2

Financial Close. 24.1.1 19.1.1 The Concessionaire hereby agrees and undertakes that it shall achieve the Financial Close within 180 90 (one hundred and eightyninety) days from the date of this Agreement Date and in the event of delay, it shall be entitled to a further period not exceeding 120 45 (one hundred and twentyforty five) days, subject to payment of Damages damages to the Authority in a sum calculated at the rate of 0.1an amount equivalent to 0.05% (zero point one per centzero five percent) of the amount of the Performance Security for each day of delay; provided that the Damages specified herein shall be payable every week in advance and the period beyond the said 180 90 (one hundred and eightyninety) days shall be granted only to the extent of Damages so paid; provided further that no Damages shall be payable if such delay in Financial Close has occurred solely as a result of any default or delay by the Authority in procuring satisfaction of the Conditions Precedent specified in Clause 4.1.2Article 4 or

Financial Close. 24.1.1 The Concessionaire hereby agrees and undertakes that it shall achieve Financial Close within 180 (one hundred and eighty) days from the date of this Agreement and in the event of delay, it shall be entitled to a further period not exceeding 120 180 (one hundred and twentyeighty) days, subject to payment of Damages to the Authority in a sum calculated at the rate of 0.1% (zero point one per cent) of the Performance Security for each day of delay; provided that the Damages specified herein shall be payable every week in advance and the period beyond the said first mentioned of 180 (one hundred and eighty) days shall be granted only to the extent of Damages so paid; provided further that no Damages shall be payable if such delay in Financial Close has occurred solely as a result of any default or delay by the Authority in procuring satisfaction of the Conditions Precedent specified in Clause Article 4.1.2

Financial Close. 24.1.1 The Concessionaire hereby agrees and undertakes that it shall achieve Financial Close within 180 (one hundred and eighty) days from the date of this Agreement and in the event of delay, it shall be entitled to a further period not exceeding 120 (one hundred and twenty) days, subject to payment of Damages to the Authority in a sum calculated at the rate of 0.1% (zero point one per cent) of the Performance Security for each day of delay; provided that the Damages specified herein shall be payable every week in advance and the period beyond the said 180 (one hundred and eighty) days shall be granted only to the extent of Damages so paid; provided further that no Damages shall be payable if such delay in Financial Close has occurred solely as a result of any default or delay by the Authority in procuring satisfaction of the Conditions Precedent specified in Clause 4.1.2

Financial Close. 24.1.1 The Concessionaire hereby agrees and undertakes that it shall achieve Financial Close within 180 (one hundred and eighty) days from the date of this Agreement and in the event of delay, it shall be entitled to a further period not exceeding 120 (one [120(one hundred and twenty) days, )] days subject to payment of Damages to the Authority MPRDC in a sum calculated at the rate of 0.1% (zero point one per centpercent) of the Performance Security for each day of delay; provided provide that the Damages specified herein shall be payable every week in advance and the period beyond the said 180 (one 180(one hundred and eighty) days shall be granted only to the extent of Damages so paid; provided further that no Damages shall be payable if such delay in Financial Close has occurred solely as a result of any default or delay by the Authority MPRDC in procuring satisfaction of the Conditions Precedent specified in Clause 4.1.2

Financial Close. 24.1.1 The Concessionaire hereby agrees and undertakes that it shall achieve Financial Close within 180 270 (one two hundred and eightyseventy) days from the date of this Concession Agreement and in the event of delay, it Concessionaire shall be entitled to a further period not exceeding 120 (one hundred and twenty) days, subject to payment of pay Damages to the Authority in a sum calculated at the rate of 0.10.05% (zero point one zero five per cent) of the Performance Security for each day of delay; provided that the Damages specified herein shall be payable every week in advance and the period beyond the said 180 270 (one two hundred and eightyseventy) days shall be granted only to the extent of Damages so paid; provided further that no Damages shall be payable if such delay in Financial Close has occurred solely as a result of any default or delay by the Authority in procuring satisfaction of the Conditions Precedent specified in Clause 4.1.2 or due to Force Majeure. For the avoidance of doubt, the Damages payable hereunder by the Concessionaire shall be in addition to the Damages, if any, due and payable under the provisions of Clause 4.1.24.3.

Financial Close. 24.1.1 21.1 Financial Close The Concessionaire Company/Consortium hereby agrees and undertakes that it shall achieve Financial Close within 180 90 (one hundred and eightyninety) days from the date of this Agreement Appointed Date and in the event of delay, it shall be entitled to a further period not exceeding 120 (one hundred and twenty60 ( sixty) days, subject to payment of Damages to the Authority CPI in a sum calculated at the rate of 0.1% (zero point one per cent) of the Performance Security for each day of delay; provided that the Damages specified herein shall be payable every week in advance and the period beyond the said 180 first mentioned of 30 (one hundred and eightythirty) days shall be granted only to the extent of Damages so paid; provided further that no Damages shall be payable if such delay in Financial Close has occurred solely as a result of any default or delay by the Authority CPI in procuring satisfaction of the Conditions Precedent specified in Clause Article 4.1.2

Financial Close. 24.1.1 27.1.1 The Concessionaire hereby agrees and undertakes that it shall achieve Financial Close within 180 (one hundred and eighty) days from the date of this Agreement and in the event of delay, it shall be entitled to a further period not exceeding 120 [200 (one hundred and twenty) two hundred)] days, subject to payment of Damages to the Authority in a sum calculated at the rate of [0.1% (zero point one per cent) )] of the Performance Security for each day of delay, subject to payment of maximum Damages of 20% of Performance Security; provided that the Damages specified herein shall be payable every week in advance and the period beyond the said 180 (one hundred and eighty) days shall be granted only to the extent of Damages so paid; provided further that no Damages shall be payable if such delay in Financial Close has occurred solely as a result of any default or delay by the Authority in procuring satisfaction of the Conditions Precedent specified in Clause 4.1.2