Common use of Lessee Event of Default Clause in Contracts

Lessee Event of Default. 1.50.1 The following events shall be considered as events of default on the part of the Lessee; a) The Lessee fails to meet the Conditions Precedent as specified in Clause 1.9; b) The Performance Security has been en-cashed and appropriated in accordance with Clause 1.21 and the Lessee fails to replenish or provided fresh Performance Security within the period specified in Clause 1.21.1; c) Subsequent to the replacement or furnishing of fresh Performance Security in accordance with clause 1.21, the Lessee fails to cure within a period of 3 (three) months the Lessee Event of Default for which whole or part of the Performance Security was appropriated; d) The Lessee utilises the property for purposes other than for which it was leased out; e) The Lessee fails to adhere to the Operation & Management requirements and has failed to remedy the same within 2 (two) months; f) The Lessee commits any material breach, or is otherwise in violation of any of its obligations / provisions, under this Agreement; g) The Lessee does not pay any or all applicable taxes, charges, surcharges, levies and duties which may be levied by any competent authority with regard to execution of this Agreement and all other Project Agreements; h) The Lessee repudiates the Agreement or otherwise expresses an intention not to be bound by this Agreement; i) The Lessee is in breach of the maintenance requirements in the Agreement; j) The Lessee has failed to make any payment to DOT within the period specified in the Agreement including annual lease rental; k) An order is made or a resolution is passed for the liquidation, bankruptcy, dissolution or appointment of a receiver of the Lessee which is not, if capable of being so, discharged or, as the case may be, revoked within 3 (three) months thereafter; l) The Lessee has created any encumbrance on the Project Assets or Project Facility in favor of any entity save as otherwise expressly permitted under this Agreement; m) Any assets or share of the Lessee are expropriated, confiscated, compulsorily acquired or nationalized by any Government, authority, entity or agency due to an act or omission of the Lessee or its shareholders; n) A breach of any representation or warranty by the Lessee which materially adversely affects the Lessee‟s ability to perform its obligations under this Agreement; o) The Lessee abandons the operations of the Project Facility for more than 15 (fifteen) consecutive days without the prior consent of DOT.

Lessee Event of Default. 1.50.1 The Any of the following events shall constitute an Event of Default by the Lessee ("Lessee Event of Default"): i. The Lessee has failed to achieve Development Milestone and obtain Completion Certificate, as per Article 2.9; ii. The Lessee has failed to pay the Land Premium or Annual Lease Rent; iii. The Lessee has failed to comply with the Applicable Laws / Applicable Permits or any Rules and such failure has resulted in a Material Breach of the Agreement; iv. The Lessee has failed to implement the Industrial Unit in accordance with the provisions of this Agreement and such failure, in the reasonable estimation of the Authority, is likely to delay achieving Scheduled Completion Date; v. The Lessee’s failure to perform or discharge any of its obligations under this Agreement, which has or is likely to have a Material Adverse Effect; vi. The Lessee has failed to make any payments due to the Authority and more than 60 (Sixty) days have elapsed since such payment became due; vii. The Lessee is in Material Breach of any of its obligations under this Agreement and the same has not been remedied within the time specified by the Authority, if no such time is defined then not more than 120 days; viii. Any representation made or warranties given by the Lessee/ Developer under this Agreement are found to be considered as events false or misleading; ix. A resolution has been passed by the shareholders of default on the part Lessee for voluntary winding up of the Lessee; a) The x. Any petition for winding up of the Lessee fails to meet the Conditions Precedent as specified in Clause 1.9; b) The Performance Security has been en-cashed admitted and appropriated in accordance liquidator or provisional liquidator has been appointed or the Lessee has been ordered to be wound up by court of competent jurisdiction, except for the purpose of amalgamation or reconstruction with Clause 1.21 the prior consent of the Authority, provided that, as part of such amalgamation or reconstruction and the Lessee fails to replenish amalgamated or provided fresh Performance Security within the period specified in Clause 1.21.1; c) Subsequent to the replacement or furnishing reconstructed entity has unconditionally assumed all surviving obligations of fresh Performance Security in accordance with clause 1.21, the Lessee fails to cure within a period of 3 (three) months the Lessee Event of Default for which whole or part of the Performance Security was appropriated; d) The Lessee utilises the property for purposes other than for which it was leased out; e) The Lessee fails to adhere to the Operation & Management requirements and has failed to remedy the same within 2 (two) months; f) The Lessee commits any material breach, or is otherwise in violation of any of its obligations / provisions, under this Agreement; g) xi. The Lessee does not pay any or all applicable taxes, charges, surcharges, levies and duties which may be levied by any competent authority with regard to execution has abandoned the Project for the consecutive period of 6 (six) months; xii. The Lessee has unlawfully repudiated this Agreement and all other Project Agreements; h) The Lessee repudiates the Agreement or has otherwise expresses expressed an intention not to be bound by this Agreement; i) The Lessee is in breach of the maintenance requirements in the Agreement; j) xiii. The Lessee has failed suffered an attachment levied on any of its assets, which has caused or is likely to make any payment to DOT within cause a Material Adverse Effect on the Project and such attachment has continued for a period specified in the Agreement including annual lease rental;exceeding 120 days; and k) An order is made or a resolution is passed for the liquidation, bankruptcy, dissolution or appointment of a receiver of the Lessee which is not, if capable of being so, discharged or, as the case may be, revoked within 3 (three) months thereafter; l) xiv. The Lessee has created any encumbrance on encumbrance(s) beyond the Project Assets or Project Facility Lease Period / Term of this Agreement and in favor of any entity save as otherwise expressly permitted under this Agreement; m) Any assets or share violation of the Lessee are expropriated, confiscated, compulsorily acquired or nationalized by any Government, authority, entity or agency due to an act or omission of the Lessee or its shareholders; n) A breach of any representation or warranty by the Lessee which materially adversely affects the Lessee‟s ability to perform its obligations under provisions herein in this Agreement; o) The Lessee abandons the operations of the Project Facility for more than 15 (fifteen) consecutive days without the prior consent of DOTregard.

Lessee Event of Default. 1.50.1 The Any of the following events shall constitute an Event of Default by the Lessee ("Lessee Event of Default"): i. The Lessee has failed to achieve any Development Milestone and/or obtain Completion Certificate as per Article 2.10 or obtain Applicable Permits; ii. The Lessee has failed to pay the Annual Lease Rent or any other charges payable hereunder; iii. The Lessee has failed to comply with the Applicable Laws / Applicable Permits or any rules and such failure has resulted in a Material Breach of the Agreement; iv. The Lessee has failed to implement the Corporate office in accordance with the provisions of this Agreement and such failure, in the reasonable estimation of the Authority, is likely to delay achieving Scheduled Completion Date; v. The Lessee’s failure to perform or discharge any of its obligations under the Agreement, which has or is likely to have a Material Adverse Effect; vi. The Lessee has failed to make any payments due to the Authority and more than 60 (Sixty) Business Days have elapsed since such payment became due; vi. The Lessee is in breach of any of its obligations under this Agreement and the same has not been remedied within the time specified by the Authority, if no such time is defined then not more than 120 days; vii. Any representation made or warranties given by the Lessee under this agreement are found to be considered as events false or misleading; viii. A resolution has been passed by the shareholders of default on the part Lessee for voluntary winding up of the Lessee; a) The ix. Any petition for winding up of the Lessee fails to meet the Conditions Precedent as specified in Clause 1.9; b) The Performance Security has been en-cashed admitted and appropriated in accordance liquidator or provisional liquidator has been appointed or the Lessee has been ordered to be wound up by court of competent jurisdiction, except for the purpose of amalgamation or reconstruction with Clause 1.21 the prior consent of the Authority, provided that, as part of such amalgamation or reconstruction and the Lessee fails to replenish amalgamated or provided fresh Performance Security within the period specified in Clause 1.21.1; c) Subsequent to the replacement or furnishing reconstructed entity has unconditionally assumed all surviving obligations of fresh Performance Security in accordance with clause 1.21, the Lessee fails to cure within a period of 3 (three) months the Lessee Event of Default for which whole or part of the Performance Security was appropriated; d) The Lessee utilises the property for purposes other than for which it was leased out; e) The Lessee fails to adhere to the Operation & Management requirements and has failed to remedy the same within 2 (two) months; f) The Lessee commits any material breach, or is otherwise in violation of any of its obligations / provisions, under this Agreement; g) x. The Lessee does not pay any or all applicable taxes, charges, surcharges, levies and duties which may be levied by any competent authority with regard to execution has abandoned the Corporate office and/or the Leased land for the consecutive period of 6 (six) months; xi. The Lessee transfers the Leased Land except in the manner stipulated under this Agreement; xii. The Lessee has unlawfully repudiated this Agreement and all other Project Agreements; h) The Lessee repudiates the Agreement or has otherwise expresses expressed an intention not to be bound by this Agreement; i) xiii. The Lessee is fails to cure or remedy any defect/deficiency in breach of relation to the maintenance requirements Corporate office / Leased Land within such time as may be notified by NRANVP in the Agreement; j) this respect. xv. The Lessee has failed suffered an attachment levied on any of its assets, which has caused or is likely to make any payment to DOT within cause a Material Adverse Effect on the Corporate office and such attachment has continued for a period specified in the Agreement including annual lease rental;exceeding 120 days; and k) An order is made or a resolution is passed for the liquidation, bankruptcy, dissolution or appointment of a receiver of the Lessee which is not, if capable of being so, discharged or, as the case may be, revoked within 3 (three) months thereafter; l) xiv. The Lessee has created any encumbrance on Encumbrance(s) beyond the Project Assets or Project Facility Term of this Agreement and/or in favor violation of any entity save as otherwise expressly permitted under the provisions stipulated in this Agreement; m) Any assets or share of the Lessee are expropriated, confiscated, compulsorily acquired or nationalized by any Government, authority, entity or agency due to an act or omission of the Lessee or its shareholders; n) A breach of any representation or warranty by the Lessee which materially adversely affects the Lessee‟s ability to perform its obligations under this Agreement; o) The Lessee abandons the operations of the Project Facility for more than 15 (fifteen) consecutive days without the prior consent of DOT.

Lessee Event of Default. 1.50.1 The Any of the following events shall be considered as events constitute an event of default by the Lessee("LesseeEvent of Default") unless such event has occurred as a result of a Force Majeure Event or the LessorEvent of Default or any governmental action for reasons other than any breach, default or lapse on the part of the Lessee: (i) The Lessee’s failure to perform or discharge any of its obligations inaccordance with the provisions of this Lease Deed; a) The Lessee fails to meet the Conditions Precedent as specified in Clause 1.9; b(ii) The Performance Security has been en-cashed encashed and appropriated in by the Lessorin accordance with Clause 1.21 this Lease Deed and the Lessee fails Lesseefails to replenish or provided provide fresh Performance Security within the period specified in Clause 1.21.160 (sixty) days; c(iii) Subsequent The Lessee has failed to make any Payment (other than those stipulated in Schedule 1) due to the replacement or furnishing of fresh Performance Lessor on Due Date thereof and more than 60 days have elapsed since such default; (iv) In case the Lessee has failed to submit the Monthly Lease Rent Security in accordance with clause 1.21, this Lease Deed and failed to replenish it from time to time in case of appropriation by the Lessee fails to cure within a period of 3 Lessor. (three) months the Lessee Event of Default for which whole or part of the Performance Security was appropriated; d) The Lessee utilises the property for purposes other than for which it was leased out; ev) The Lessee fails to adhere obtain Applicable Permits in connection to operation and maintenance of the Operation & Management requirements and has failed to remedy Project Facility (vi) The Project Facilities are damaged or modified without obtaining approval from the same within 2 (two) monthsLessor; f(vii) The Lessee commits any material breach, or is otherwise Lesseeis in violation Material Breach of any of its other obligations / provisions, under this AgreementLease Deed on account of its own acts of omission or commission and the same has not been remedied for more than 60 (sixty) days; g(viii) Any representation made or warranty given by the Lessee under this Lease Deed is found to be false or misleading; (ix) A resolution for voluntary winding up has been passed by the shareholders of the Lessee; (x) Any petition for winding up of the Lessee has been admitted and liquidator or provisional liquidator has been appointed or the Lessee has been ordered to be wound up by Court of competent jurisdiction, except for the purpose of amalgamation or reconstruction with the prior consent of the Lessor, provided that, as part of such amalgamation or reconstruction and the amalgamated or reconstructed entity has unconditionally assumed all surviving obligations of the Lessee under this Lease Deed. (xi) The Lessee does not pay any Lesseehas abandoned or all applicable taxes, charges, surcharges, levies and duties which may be levied by any competent authority with regard manifests intention to execution abandon the operation &management of this Agreement and all other the Project Agreements;Facilitieswithout the prior written consent of the Lessor. h(xii) The Lessee repudiates the Agreement Lesseehas unlawfully repudiated this Lease Deed or has otherwise expresses expressed an intention not to be bound by this AgreementLease Deed; i(xiii) If the Lesseefails to pay the necessary insurance premiums in terms of this Lease Deed and thereby causes the insurance coverage to diminish, terminate or expire. (xiv) The Lessee is in breach of the maintenance requirements in the Agreement; j) The Lessee has failed to make any payment to DOT within the period specified in the Agreement including annual lease rental; k) An order is made Lesseehas mortgaged or a resolution is passed for the liquidation, bankruptcy, dissolution or appointment of a receiver of the Lessee which is not, if capable of being so, discharged or, as the case may be, revoked within 3 (three) months thereafter; l) The Lessee has created any encumbrance lien or Encumbrance on the Project Assets whole or Project Facility in favor of any entity save as otherwise expressly permitted under this Agreement; m) Any assets or share of the Lessee are expropriated, confiscated, compulsorily acquired or nationalized by any Government, authority, entity or agency due to an act or omission of the Lessee or its shareholders; n) A breach of any representation or warranty by the Lessee which materially adversely affects the Lessee‟s ability to perform its obligations under this Agreement; o) The Lessee abandons the operations part of the Project Facility for more than 15 (fifteen) consecutive days without the prior consent of DOTSite or ProjectFacilities, save and except as expressly permitted by this Xxxxx Xxxx.

Lessee Event of Default. 1.50.1 The Any of the following events shall constitute an Event of Default by the Lessee ("Lessee Event of Default"): i. The Lessee has failed to achieve any Development Milestone and/or obtain Completion Certificate as per Article 2.10 or obtain Applicable Permits; ii. The Lessee has failed to pay the Annual Lease Rent or any other charges payable hereunder; iii. The Lessee has failed to comply with the Applicable Laws / Applicable Permits or any rules and such failure has resulted in a Material Breach of the Agreement; iv. The Lessee has failed to implement the Sales Showroom, Service and Repair Centre for Two Xxxxxxx Automobile Industry in accordance with the provisions of this Agreement and such failure, in the reasonable estimation of the Authority, is likely to delay achieving Scheduled Completion Date; v. The Lessee’s failure to perform or discharge any of its obligations under this Agreement, which has or is likely to have a Material Adverse Effect; vi. The Lessee has failed to make any payments due to the Authority and more than 60 (Sixty) Business Days have elapsed since such payment became due; vii. The Lessee is in breach of any of its obligations under this Agreement and the same has not been remedied within the time specified by the Authority, if no such time is defined then not more than 120 days; viii. Any representation made or warranties given by the Lessee under this Agreement are found to be considered as events false or misleading; ix. A resolution has been passed by the shareholders of default on the part Lessee for voluntary winding up of the Lessee; a) The x. Any petition for winding up of the Lessee fails to meet the Conditions Precedent as specified in Clause 1.9; b) The Performance Security has been en-cashed admitted and appropriated in accordance liquidator or provisional liquidator has been appointed or the Lessee has been ordered to be wound up by court of competent jurisdiction, except for the purpose of amalgamation or reconstruction with Clause 1.21 the prior consent of the Authority, provided that, as part of such amalgamation or reconstruction and the Lessee fails to replenish amalgamated or provided fresh Performance Security within the period specified in Clause 1.21.1; c) Subsequent to the replacement or furnishing reconstructed entity has unconditionally assumed all surviving obligations of fresh Performance Security in accordance with clause 1.21, the Lessee fails to cure within a period of 3 (three) months the Lessee Event of Default for which whole or part of the Performance Security was appropriated; d) The Lessee utilises the property for purposes other than for which it was leased out; e) The Lessee fails to adhere to the Operation & Management requirements and has failed to remedy the same within 2 (two) months; f) The Lessee commits any material breach, or is otherwise in violation of any of its obligations / provisions, under this Agreement; g) xi. The Lessee does not pay any or all applicable taxeshas abandoned the Sales Showroom, charges, surcharges, levies Service and duties which may be levied by any competent authority with regard to execution Repair Centre for Two Xxxxxxx Automobile Industry and/or the Leased land for the consecutive period of 6 (six) months; xii. The Lessee transfers the Leased Land except in the manner stipulated under this Agreement; xiii. The Lessee has unlawfully repudiated this Agreement and all other Project Agreements; h) The Lessee repudiates the Agreement or has otherwise expresses expressed an intention not to be bound by this Agreement; i) xiv. The Lessee is fails to cure or remedy any defect/deficiency in breach of relation to the maintenance requirements Sales Showroom, Service and Repair Centre for Two Xxxxxxx Automobile Industry / Leased Land within such time as may be notified by NRDA in the Agreement;this respect. j) xv. The Lessee has failed suffered an attachment levied on any of its assets, which has caused or is likely to make any payment to DOT within cause a Material Adverse Effect on the Sales Showroom, Service and Repair Centre for Two Xxxxxxx Automobile Industry and such attachment has continued for a period specified in the Agreement including annual lease rental;exceeding 120 days; and k) An order is made or a resolution is passed for the liquidation, bankruptcy, dissolution or appointment of a receiver of the Lessee which is not, if capable of being so, discharged or, as the case may be, revoked within 3 (three) months thereafter; l) xvi. The Lessee has created any encumbrance on Encumbrance(s) beyond the Project Assets or Project Facility Term of this Agreement and/or in favor violation of any entity save as otherwise expressly permitted under the provisions stipulated in this Agreement; m) Any assets or share of the Lessee are expropriated, confiscated, compulsorily acquired or nationalized by any Government, authority, entity or agency due to an act or omission of the Lessee or its shareholders; n) A breach of any representation or warranty by the Lessee which materially adversely affects the Lessee‟s ability to perform its obligations under this Agreement; o) The Lessee abandons the operations of the Project Facility for more than 15 (fifteen) consecutive days without the prior consent of DOT.

Lessee Event of Default. 1.50.1 The following events shall be considered as events of default on the part of the Lessee; a) The Lessee fails to meet the Conditions Precedent as specified in Clause 1.9; b) The Performance Security has been en-cashed and appropriated in accordance with Clause clause 1.21 and the Lessee fails to replenish or provided fresh Performance Security within the period specified in Clause 1.21.1; c) Subsequent to the replacement or furnishing of fresh Performance Security in accordance with clause 1.21, the Lessee fails to cure within a period of 3 (three) months the Lessee Event of Default for which whole or part of the Performance Security was appropriated; d) The Lessee utilises the property for purposes other than then for which it was leased out; e) The Lessee fails to adhere to the Operation & Management requirements and has failed to remedy the same within 2 (two) months; f) The Lessee commits any material breach, or is otherwise in violation of any of its obligations / provisions, under this Agreement; g) The Lessee does not pay any or all applicable taxes, charges, surcharges, levies and duties which may be levied by any competent authority with regard to execution of this Agreement and all other Project Agreements; h) The Lessee repudiates the Agreement or otherwise expresses an intention not to be bound by this Agreement; i) The Lessee is in breach of the maintenance requirements in the Agreement; j) The Lessee has failed to make any payment to DOT within the period specified in the Agreement including annual lease rental; k) An order is made or a resolution is passed for the liquidation, bankruptcy, dissolution or appointment of a receiver of the Lessee which is not, if capable of being so, discharged or, as the case may be, revoked within 3 (three) months thereafter; l) The Lessee has created any encumbrance on the Project Assets or Project Facility in favor of any entity save as otherwise expressly permitted under this Agreement; m) Any assets or share of the Lessee are expropriated, confiscated, compulsorily acquired or nationalized by any Government, authority, entity or agency due to an act or omission of the Lessee or its shareholders; n) A breach of any representation or warranty by the Lessee which materially adversely affects the Lessee‟s Lessee’s ability to perform its obligations under this Agreement; o) The Lessee abandons the operations of the Project Facility for more than 15 (fifteen) consecutive days without the prior consent of DOT.

Lessee Event of Default. 1.50.1 The Any of the following events shall constitute an Event of Default by the Lessee ("Lessee Event of Default"): i. The Lessee has failed to achieve any Development Milestone and/or obtain Completion Certificate as per Clause 2.9 or obtain Applicable Permits; ii. The Lessee has failed to pay the annual Lease Rent or any other charges payable hereunder; iii. The Lessee has failed to comply with the Applicable Laws / Applicable Permits or any rules and such failure has resulted in a Material Breach of the Agreement; iv. The Lessee has failed to implement the Project in accordance with the provisions of this Agreement and such failure, in the reasonable estimation of the Authority, is likely to delay achieving Scheduled Project Completion Date; v. The Lessee’s failure to perform or discharge any of its obligations under this Agreement, which has or is likely to have a Material Adverse Effect; vi. The Lessee has failed to make any payments due to the Authority and more than 60 (Sixty) Business Days have elapsed since such payment became due; vii. The Lessee is in breach of any of its obligations under this Agreement and the same has not been remedied within the time specified by the Authority, if no such time is defined then not more than 120 days; viii. Any representation made or warranties given by the Lessee under this Agreement are found to be considered as events false or misleading; ix. A resolution has been passed by the shareholders of default on the part Lessee for voluntary winding up of the Lessee; a) The x. Any petition for winding up of the Lessee fails to meet the Conditions Precedent as specified in Clause 1.9; b) The Performance Security has been en-cashed admitted and appropriated in accordance liquidator or provisional liquidator has been appointed or the Lessee has been ordered to be wound up by court of competent jurisdiction, except for the purpose of amalgamation or reconstruction with Clause 1.21 the prior consent of the Authority, provided that, as part of such amalgamation or reconstruction and the Lessee fails to replenish amalgamated or provided fresh Performance Security within the period specified in Clause 1.21.1; c) Subsequent to the replacement or furnishing reconstructed entity has unconditionally assumed all surviving obligations of fresh Performance Security in accordance with clause 1.21, the Lessee fails to cure within a period of 3 (three) months the Lessee Event of Default for which whole or part of the Performance Security was appropriated; d) The Lessee utilises the property for purposes other than for which it was leased out; e) The Lessee fails to adhere to the Operation & Management requirements and has failed to remedy the same within 2 (two) months; f) The Lessee commits any material breach, or is otherwise in violation of any of its obligations / provisions, under this Agreement; g) xi. The Lessee does not pay any or all applicable taxeshas abandoned the Project 500 bed Hospital and Medical College as per standards of MCI, charges, surcharges, levies and duties which may be levied by any competent authority with regard to execution other Project facilities and/or the Leased land for the consecutive period of 6 (six) months; xii. The Lessee transfers the Leased Land except in the manner stipulated under this Agreement; xiii. The Lessee has unlawfully repudiated this Agreement and all other Project Agreements; h) The Lessee repudiates the Agreement or has otherwise expresses expressed an intention not to be bound by this Agreement; i) xiv. The Lessee is fails to cure or remedy any defect/deficiency in breach relation to the Project/ Medical College, Hospital & other components of the maintenance requirements Project / Leased Land within such time in the Agreement;manner set out herein this agreement j) xv. The Lessee has failed suffered an attachment levied on any of its assets, which has caused or is likely to make any payment to DOT within cause a Material Adverse Effect on the Project and such attachment has continued for a period specified in the Agreement including annual lease rental;exceeding 120 days; and k) An order is made or a resolution is passed for the liquidation, bankruptcy, dissolution or appointment of a receiver of the Lessee which is not, if capable of being so, discharged or, as the case may be, revoked within 3 (three) months thereafter; l) xvi. The Lessee has created any encumbrance on encumbrance(s) beyond the Project Assets or Project Facility term of this Agreement and/or in favor violation of any entity save as otherwise expressly permitted under the provisions stipulated in this Agreement;. m) Any assets or share of the xvii. If Lessee are expropriated, confiscated, compulsorily acquired or nationalized by any Government, authority, entity or agency due to an act or omission of the Lessee or its shareholders; n) A breach of any representation or warranty by the Lessee which materially adversely affects the Lessee‟s ability fails to perform or discharge any of its obligations under obligations, responsibilities, duties and/or undertakings in accordance with the provisions of this Agreement;, including but not limited to non-payment of applicable taxes. o) The Lessee abandons the operations xix. If development of the Project Facility for more than 15 (fifteen) consecutive days without is not completed before the prior consent expiry of DOTThird Block of extension of Time as described above, then it shall be treated as Lessee's Event of Default. xx. If the Lessee transfers in any manner whatsoever the Development Rights of the Project Land or part thereof except to the extent and in the manner specifically provided in this agreement.

Lessee Event of Default. 1.50.1 The Any of the following events shall constitute an Event of Default by the Lessee ("Lessee Event of Default"): i. The Lessee has failed to achieve any Development Milestone and/or obtain Completion Certificate as per Article 2.10 or obtain Applicable Permits; ii. The Lessee has failed to pay the Annual Lease Rent or any other charges payable hereunder; iii. The Lessee has failed to comply with the Applicable Laws / Applicable Permits or any rules and such failure has resulted in a Material Breach of the Agreement; iv. The Lessee has failed to implement the Sales Showroom, Service and Repair Centre for Two Xxxxxxx Automobile Industry in accordance with the provisions of this Agreement and such failure, in the reasonable estimation of the Authority, is likely to delay achieving Scheduled Completion Date; v. The Lessee’s failure to perform or discharge any of its obligations under this Agreement, which has or is likely to have a Material Adverse Effect; vi. The Lessee has failed to make any payments due to the Authority and more than 60 (Sixty) Business Days have elapsed since such payment became due; vii. The Lessee is in breach of any of its obligations under this Agreement and the same has not been remedied within the time specified by the Authority, if no such time is defined then not more than 120 days; viii. Any representation made or warranties given by the Lessee under this Agreement are found to be considered as events false or misleading; ix. A resolution has been passed by the shareholders of default on the part Lessee for voluntary winding up of the Lessee; a) The x. Any petition for winding up of the Lessee fails to meet the Conditions Precedent as specified in Clause 1.9; b) The Performance Security has been en-cashed admitted and appropriated in accordance liquidator or provisional liquidator has been appointed or the Lessee has been ordered to be wound up by court of competent jurisdiction, except for the purpose of amalgamation or reconstruction with Clause 1.21 the prior consent of the Authority, provided that, as part of such amalgamation or reconstruction and the Lessee fails to replenish amalgamated or provided fresh Performance Security within the period specified in Clause 1.21.1; c) Subsequent to the replacement or furnishing reconstructed entity has unconditionally assumed all surviving obligations of fresh Performance Security in accordance with clause 1.21, the Lessee fails to cure within a period of 3 (three) months the Lessee Event of Default for which whole or part of the Performance Security was appropriated; d) The Lessee utilises the property for purposes other than for which it was leased out; e) The Lessee fails to adhere to the Operation & Management requirements and has failed to remedy the same within 2 (two) months; f) The Lessee commits any material breach, or is otherwise in violation of any of its obligations / provisions, under this Agreement; g) xi. The Lessee does not pay any or all applicable taxeshas abandoned the Sales Showroom, charges, surcharges, levies Service and duties which may be levied by any competent authority with regard to execution Repair Centre for Two Xxxxxxx Automobile Industry and/or the Leased land for the consecutive period of 6 (six) months; xii. The Lessee transfers the Leased Land except in the manner stipulated under this Agreement; xiii. The Lessee has unlawfully repudiated this Agreement and all other Project Agreements; h) The Lessee repudiates the Agreement or has otherwise expresses expressed an intention not to be bound by this Agreement; i) xiv. The Lessee is fails to cure or remedy any defect/deficiency in breach of relation to the maintenance requirements Sales Showroom, Service and Repair Centre for Two Xxxxxxx Automobile Industry / Leased Land within such time as may be notified by ANVP in the Agreement;this respect. j) xv. The Lessee has failed suffered an attachment levied on any of its assets, which has caused or is likely to make any payment to DOT within cause a Material Adverse Effect on the Sales Showroom, Service and Repair Centre for Two Xxxxxxx Automobile Industry and such attachment has continued for a period specified in the Agreement including annual lease rental;exceeding 120 days; and k) An order is made or a resolution is passed for the liquidation, bankruptcy, dissolution or appointment of a receiver of the Lessee which is not, if capable of being so, discharged or, as the case may be, revoked within 3 (three) months thereafter; l) xvi. The Lessee has created any encumbrance on Encumbrance(s) beyond the Project Assets or Project Facility Term of this Agreement and/or in favor violation of any entity save as otherwise expressly permitted under the provisions stipulated in this Agreement; m) Any assets or share of the Lessee are expropriated, confiscated, compulsorily acquired or nationalized by any Government, authority, entity or agency due to an act or omission of the Lessee or its shareholders; n) A breach of any representation or warranty by the Lessee which materially adversely affects the Lessee‟s ability to perform its obligations under this Agreement; o) The Lessee abandons the operations of the Project Facility for more than 15 (fifteen) consecutive days without the prior consent of DOT.

Lessee Event of Default. 1.50.1 1.49.1 The following events shall be considered as events of default on the part of the Lessee; a) The Lessee fails to meet the Conditions Precedent as specified in Clause 1.9; b) The Performance Security has been en-cashed and appropriated in accordance with Clause 1.21 and the Lessee fails to replenish or provided fresh Performance Security within the period specified in Clause 1.21.1; c) Subsequent to the replacement or furnishing of fresh Performance Security in accordance with clause 1.21, the Lessee fails to cure within a period of 3 (three) months the Lessee Event of Default for which whole or part of the Performance Security was appropriated; d) The Lessee utilises the property for purposes other than for which it was leased out; e) The Lessee fails to adhere to the Operation & Management requirements and has failed to remedy the same within 2 (two) months; f) The Lessee commits any material breach, or is otherwise in violation of any of its obligations / provisions, under this Agreement; g) The Lessee does not pay any or all applicable taxes, charges, surcharges, levies and duties which may be levied by any competent authority with regard to execution of this Agreement and all other Project Agreements; h) The Lessee repudiates the Agreement or otherwise expresses an intention not to be bound by this Agreement; i) The Lessee is in breach of the maintenance requirements in the Agreement; j) The Lessee has failed to make any payment to DOT within the period specified in the Agreement including annual lease rental; k) An order is made or a resolution is passed for the liquidation, bankruptcy, dissolution or appointment of a receiver of the Lessee which is not, if capable of being so, discharged or, as the case may be, revoked within 3 (three) months thereafter; l) The Lessee has created any encumbrance on the Project Assets or Project Facility in favor of any entity save as otherwise expressly permitted under this Agreement; m) Any assets or share of the Lessee are expropriated, confiscated, compulsorily acquired or nationalized by any Government, authority, entity or agency due to an act or omission of the Lessee or its shareholders; n) A breach of any representation or warranty by the Lessee which materially adversely affects the Lessee‟s ability to perform its obligations under this Agreement; o) The Lessee abandons the operations of the Project Facility for more than 15 (fifteen) consecutive days without the prior consent of DOT.

Lessee Event of Default. 1.50.1 The Any of the following events shall constitute an Event of Default by the Lessee ("Lessee Event of Default"): i. The Lessee has failed to achieve Development Milestone and obtain Completion Certificate, as per Article 2.9; ii. The Lessee has failed to pay the Land Premium or Annual Lease Rent; iii. The Lessee has failed to comply with the Applicable Laws / Applicable Permits or any Rules and such failure has resulted in a Material Breach of the Agreement; iv. The Lessee has failed to implement the Industrial Unit in accordance with the provisions of this Agreement and such failure, in the reasonable estimation of the Authority, is likely to delay achieving Scheduled Completion Date; v. The Lessee’s failure to perform or discharge any of its obligations under this Agreement, which has or is likely to have a Material Adverse Effect; vi. The Lessee has failed to make any payments due to the Authority and more than 60 (Sixty) days have elapsed since such payment became due; vii. The Lessee is in Material Breach of any of its obligations under this Agreement and the same has not been remedied within the time specified by the Authority, if no such time is defined then not more than 120 days; viii. Any representation made or warranties given by the Lessee/ Developer under this Agreement are found to be considered as events false or misleading; ix. A resolution has been passed by the shareholders of default on the part Lessee for voluntary winding up of the Lessee; a) The x. Any petition for winding up of the Lessee fails to meet the Conditions Precedent as specified in Clause 1.9; b) The Performance Security has been en-cashed admitted and appropriated in accordance liquidator or provisional liquidator has been appointed or the Lessee has been ordered to be wound up by court of competent jurisdiction, except for the purpose of amalgamation or reconstruction with Clause 1.21 the prior consent of the Authority, provided that, as part of such amalgamation or reconstruction and the Lessee fails to replenish amalgamated or provided fresh Performance Security within the period specified in Clause 1.21.1; c) Subsequent to the replacement or furnishing reconstructed entity has unconditionally assumed all surviving obligations of fresh Performance Security in accordance with clause 1.21, the Lessee fails to cure within a period of 3 (three) months the Lessee Event of Default for which whole or part of the Performance Security was appropriated; d) The Lessee utilises the property for purposes other than for which it was leased out; e) The Lessee fails to adhere to the Operation & Management requirements and has failed to remedy the same within 2 (two) months; f) The Lessee commits any material breach, or is otherwise in violation of any of its obligations / provisions, under this Agreement; g) xi. The Lessee does not pay any or all applicable taxes, charges, surcharges, levies and duties which may be levied by any competent authority with regard to execution has abandoned the Project for the consecutive period of 6 (six) month s; xii. The Lessee has unlawfully repudiated this Agreement and all other Project Agreements; h) The Lessee repudiates the Agreement or has otherwise expresses expressed an intention not to be bound by this Agreement; i) The Lessee is in breach of the maintenance requirements in the Agreement; j) xiii. The Lessee has failed suffered an attachment levied on any of its assets, which has caused or is likely to make any payment to DOT within cause a Material Adverse Effect on the Project and such attachment has continued for a period specified in the Agreement including annual lease rental;exceeding 120 days; and k) An order is made or a resolution is passed for the liquidation, bankruptcy, dissolution or appointment of a receiver of the Lessee which is not, if capable of being so, discharged or, as the case may be, revoked within 3 (three) months thereafter; l) xiv. The Lessee has created any encumbrance on encumbrance(s) beyond the Project Assets or Project Facility Lease Period / Term of this Agreement and in favor of any entity save as otherwise expressly permitted under this Agreement; m) Any assets or share violation of the Lessee are expropriated, confiscated, compulsorily acquired or nationalized by any Government, authority, entity or agency due to an act or omission of the Lessee or its shareholders; n) A breach of any representation or warranty by the Lessee which materially adversely affects the Lessee‟s ability to perform its obligations under provisions herein in this Agreement; o) The Lessee abandons the operations of the Project Facility for more than 15 (fifteen) consecutive days without the prior consent of DOTregard.

Lessee Event of Default. 1.50.1 The occurrence of any of the following events shall be considered as events constitute an Event of default on the part of the Lessee; a) The Lessee fails to meet the Conditions Precedent as specified in Clause 1.9; b) The Performance Security has been en-cashed and appropriated in accordance with Clause 1.21 and Default by the Lessee fails to replenish or provided fresh Performance Security within the period specified in Clause 1.21.1; c) Subsequent to the replacement or furnishing of fresh Performance Security in accordance with clause 1.21, the Lessee fails to cure within a period of 3 (three) months the "Lessee Event of Default for which whole Default") unless such event has occurred as a result of one or part of the Performance Security was appropriated;more reasons set out in Force Majeure:- d) a. The Lessee utilises the property for purposes other than for which it was leased out; e) The Lessee fails Lessee‟s failure to adhere to the Operation & Management requirements and has failed to remedy the same within 2 (two) months; f) The Lessee commits any material breach, perform or is otherwise in violation of discharge any of its obligations / provisions, under this Agreement, including those which have or are likely to have a Material Adverse Effect; g) b. The Lessee does not pay any part of the Lease Rent or all applicable taxesfees or service charges or Operation & Maintenance charges or Land Lease Premium or any other charge, chargesand the amount remains as balance, surcharges, levies and duties which may be levied the Authority shall have power to recover penal surcharges (as mentioned above in III a)/ arrears for delayed period. Provided that if the surcharges/ arrears remain unpaid for three years the event shall constitute as Event of Default by the Lessee. The Lessee is in Material Breach of any competent authority with regard to execution of its obligations under this Agreement and all other Project Agreementsthe same has not been remedied within the time specified by the Authority, if no such time is defined then not more than 120 (one hundred and twenty) days; h) c. The Lessee repudiates the has unlawfully repudiated this Agreement or has otherwise expresses expressed an intention not to be bound by this Agreement; id. Lessee is unable to or fails to use the Leased Land for the purpose for which it is leased or abandons the Leased Land; e. The Lessee has suffered an attachment levied on any of its assets, which has caused or is likely to cause a Material Adverse Effect on the Project or a breach of this Agreement, and such attachment has continued for a period exceeding 120 (one hundred and twenty) days; f. The Lessee has created Encumbrance(s) beyond the Lease Period/Term of this Agreement and in violation of the provisions herein in this regard; g. The documents submitted by the Lessee are found to be false or misleading or if the Lessee is found to have obtained allotment of the Leased Land by furnishing incorrect information in the [application form], of by any misrepresentation or misstatement or fraud; h. If Lessee is in breach of the maintenance requirements in the any of its obligations/provision of this Agreement; j) The i. If any representation made or warranties given by the Lessee has failed under this Agreement are found to make any payment to DOT within the period specified in the Agreement including annual lease rentalbe untrue, false or misleading; k) An order is made or j. If Lessee passes a resolution for voluntary winding up, or any petition for insolvency is passed for filed against the liquidationLessee under the Insolvency and Bankruptcy Code, bankruptcy2016 or the Companies Act, dissolution or 2013; k. Upon appointment of a provisional liquidator, administrator, trustee or receiver of the whole or substantially whole of the undertaking of the Lessee by a court of competent jurisdiction in proceedings for winding up or any other legal proceedings; l. Upon levy of an execution or distraint on the Lessee's assets which has or is notlikely to have Material Adverse Effect, and such execution or distraint remaining in force for a period exceeding 90 (ninety) days; m. Upon amalgamation of the Lessee with any other corporation or reconstruction or transfer of the whole or part of the Lessee's undertaking other than transfer of assets in the ordinary course of business without the Lessor‟s prior written approval, provided, if capable of being sothe amalgamated entity, discharged or, reconstructed entity or the transferee as the case may be, revoked within 3 (three) months thereafterhas the ability demonstrated to the satisfaction of the Lessor, to undertake, perform/discharge the obligations of the Lessee under this Agreement, necessary approval shall be granted by the Lessor; l) The n. If Lessee has created fails to perform or discharge any encumbrance on of its obligations, responsibilities, duties and/or undertakings in accordance with the provisions of this Agreement, including but not limited to non-payment of applicable taxes, cesses, charges, etc.; o. If the Lessee transfers in any manner whatsoever, its rights under this Agreement for and in relation to of the Lease Land/Project Assets or Project Facility any part thereof except to the extent and in favor of any entity save as otherwise expressly permitted under the manner specifically provided in this Agreement; m) Any assets or share of the Lessee are expropriated, confiscated, compulsorily acquired or nationalized by any Government, authority, entity or agency due to an act or omission of the Lessee or its shareholders; n) A breach of any representation or warranty p. Non-compliance by the Lessee which materially adversely affects of any Applicable Law or Applicable Permit or any direction/order given by the Lessee‟s ability to perform its obligations under this Agreement; o) The Lessee abandons the operations of the Project Facility for more than 15 (fifteen) consecutive days without the prior consent of DOTLessor/Authority, Steering Group or Government Authority, etc.

Lessee Event of Default. 1.50.1 The Any of the following events shall constitute an Event of Default by the Lessee ("Lessee Event of Default") unless such event has occurred as a result of one or more reasons set out in Article 5.1.1:- i) The Lessee has failed to achieve Project Milestone and obtain Completion Certificate, as per Article 2.10; ii) The Lessee has failed to pay the Land Premium or Annual Lease Rent; iii) The Lessee has failed to comply with the Applicable Laws / Applicable Permits or any Rules and such failure has resulted in a Material Breach of the Agreement; iv) The Lessee has failed to implement the Project in accordance with the provisions of this Agreement and such failure, in the reasonable estimation of the Authority, is likely to delay achieving Scheduled Completion Date; v) The Lessee’s failure to perform or discharge any of its obligations under this Agreement, which has or is likely to have a Material Adverse Effect; vi) The Lessee has failed to make any payments due to the Authority and more than 60 (Sixty) days have elapsed since such payment became due; vii) The Lessee is in Material Breach of any of its obligations under this Agreement and the same has not been remedied within the time specified by the Authority, if no such time is defined then not more than 120 days; viii) Deleted; ix) Any representation made or warranties given by the Lessee/ Developer under this Agreement are found to be considered as events false or misleading; x) A resolution has been passed by the shareholders of default on the part Lessee for voluntary winding up of the Lessee; axi) Any petition for winding up of the Lessee has been admitted and liquidator or provisional liquidator has been appointed or the Lessee has been ordered to be wound up by court of competent jurisdiction, except for the purpose of amalgamation or reconstruction with the prior consent of the Authority, provided that, as part of such amalgamation or reconstruction and the amalgamated or reconstructed entity has unconditionally assumed all surviving obligations of the Lessee under this Agreement; xii) The Lessee fails to meet has abandoned the Conditions Precedent as specified in Clause 1.9; b) The Performance Security has been en-cashed and appropriated in accordance with Clause 1.21 and Project for the Lessee fails to replenish or provided fresh Performance Security within the period specified in Clause 1.21.1; c) Subsequent to the replacement or furnishing of fresh Performance Security in accordance with clause 1.21, the Lessee fails to cure within a consecutive period of 3 (three) months the Lessee Event of Default for which whole or part of the Performance Security was appropriatedmonths; dxiii) The Lessee utilises the property for purposes other than for which it was leased out; e) The Lessee fails to adhere to the Operation & Management requirements and has failed to remedy the same within 2 (two) months; f) The Lessee commits any material breach, or is otherwise in violation of any of its obligations / provisions, under this Agreement; g) The Lessee does not pay any or all applicable taxes, charges, surcharges, levies and duties which may be levied by any competent authority with regard to execution of unlawfully repudiated this Agreement and all other Project Agreements; h) The Lessee repudiates the Agreement or has otherwise expresses expressed an intention not to be bound by this Agreement; ixiv) The Lessee has suffered an attachment levied on any of its assets, which has caused or is likely to cause a Material Adverse Effect on the Project and such attachment has continued for a period exceeding 120 days; xv) The Lessee has created encumbrance(s) beyond the Lease Period / Term of this Agreement and in violation of the provisions herein in this regard; xvi) The Lessee is in breach of the maintenance requirements in Maintenance Requirements or the Agreement; j) The Lessee has failed to make any payment to DOT within the period specified in the Agreement including annual lease rental; k) An order is made or a resolution is passed for the liquidation, bankruptcy, dissolution or appointment of a receiver of the Lessee which is not, if capable of being so, discharged orSafety Requirements, as the case may be, revoked within 3 (three) months thereafter; lxvii) The Lessee A Change in Ownership has created any encumbrance on the Project Assets or Project Facility occurred in favor of any entity save as otherwise expressly permitted under this Agreement; m) Any assets or share breach of the Lessee are expropriated, confiscated, compulsorily acquired or nationalized by any Government, authority, entity or agency due to an act or omission provisions of the Lessee or its shareholders; n) A breach of any representation or warranty by the Lessee which materially adversely affects the Lessee‟s ability to perform its obligations under this Agreement; o) The Lessee abandons the operations of the Project Facility for more than 15 (fifteen) consecutive days without the prior consent of DOTArticle 3.7.