Common use of Initiated by Concessionaire Clause in Contracts

Initiated by Concessionaire. a. The Concessionaire may, at any time during the Concession Period, initiate a Variation, by submitting to Authority a written proposal which in the Concessionaire’s opinion will reduce the cost of construction, maintaining or operating the Works, or improve the efficiency or value to the Authority of the completed Works, or otherwise be of benefit to the Authority or to rectify a divergence between any law or directive and the Technical Requirements. Any such proposal shall be prepared at the cost of the Concessionaire and shall include the items listed in Article 18.1 (b). Authority shall, as soon as practicable after receipts of such proposals respond with approval, rejection or comments. If Authority approves a Variation, it shall proceed in accordance with Article 7.3 to agree or determine adjustments of the Concession Period.

Initiated by Concessionaire. a. The Concessionaire may, at any time during the Concession Period, initiate a Variation, by submitting to Authority a written proposal which in the Concessionaire’s opinion will reduce the cost of construction, maintaining or operating the Works, or improve the efficiency or value to the Authority of the completed Works, or otherwise be of benefit to the Authority or to rectify a divergence between any law or directive and the Technical Requirements. Any such proposal shall be prepared at the cost of the Concessionaire and shall include the items listed in Article 18.1 (b). b. b. Authority shall, as soon as practicable after receipts of such proposals respond with approval, rejection or comments. If Authority approves a Variation, it shall proceed in accordance with Article 7.3 to agree or determine adjustments of the Concession Period.

Initiated by Concessionaire. a. The Concessionaire may, at any time during the Concession Period, initiate a Variation, by submitting to Authority a written proposal which in the Concessionaire’s opinion will reduce the cost of construction, maintaining or operating the Works, or improve the efficiency or value to the Authority of the completed Works, or otherwise be of benefit to the Authority or to rectify a divergence between any law or directive and the Technical Requirements. Any such proposal shall be prepared at the cost of the Concessionaire and shall include the items listed in Article 18.1 (b). Authority shall, as soon as practicable after receipts of such proposals respond with approval, rejection or comments. If Authority approves a Variation, it shall proceed in accordance with Article 7.3 to agree or determine adjustments of the Concession Period.