Common use of Liability for defects after Termination Clause in Contracts

Liability for defects after Termination. The Concessionaire shall be responsible for all defects and deficiencies in the Rail System for a period of 120 (one hundred and twenty) days after Termination, and it shall have the obligation to repair or rectify, at its own cost, all defects and deficiencies observed by the Independent Engineer in the Rail System during the aforesaid period. In the event that the Concessionaire fails to repair or rectify such defect or deficiency within a period of 15 (fifteen) days from the date of notice issued by MOR in this behalf, MOR shall be entitled to get the same repaired or rectified at the Concessionaire‟s risk and cost so as to make the Rail System conform to the Maintenance Requirements. All costs incurred by MOR hereunder shall be reimbursed by the Concessionaire to MOR within 15 (fifteen) days of receipt of demand thereof, and in the event of default in reimbursing such costs, MOR shall be entitled to recover the same from the Escrow Account.

Liability for defects after Termination. The Concessionaire shall be responsible for all defects and deficiencies in the Rail System for a period of 120 (one hundred and twenty) days after Termination, and it shall have the obligation to repair or rectify, at its own cost, all defects and deficiencies observed by the Independent Engineer in the Rail System during the aforesaid period. In the event that the Concessionaire fails to repair or rectify such defect or deficiency within a period of 15 (fifteen) days from the date of notice issued by MOR in this behalf, MOR shall be entitled to get the same repaired or rectified at the Concessionaire‟s Concessionaire’s risk and cost so as to make the Rail System conform to the Maintenance Requirements. All costs incurred by MOR hereunder shall be reimbursed by the Concessionaire to MOR within 15 (fifteen) days of receipt of demand thereof, and in the event of default in reimbursing such costs, MOR shall be entitled to recover the same from the Escrow Account.