Common use of Modification in the Concession Period Clause in Contracts

Modification in the Concession Period. 29.2.1 Subject to the provisions of Clause 29.1.2, in the event Actual Average Traffic shall have fallen short of the Target Traffic, then for every 1% (one per cent) shortfall as compared to the Target Traffic, the Concession Period shall, subject to payment of Concession Fee in accordance with this Agreement, be increased by 1.5% (one point five per cent) thereof; provided that such increase in Concession Period shall not in any case exceed 20% (twenty per cent) of the Concession Period. For the avoidance of doubt, and by way of illustration, it is agreed that in the event of a shortfall of 10.6% (ten point six per cent) in Target Traffic, the Concession Period shall be increased by 15% (fifteen per cent) thereof.

Modification in the Concession Period. 29.2.1 Subject to the provisions provision of Clause 29.1.2, in the event Actual Average Traffic shall have fallen short of the Target Traffic, then for every 1% (one per centpercent) shortfall as compared to the Target Traffic, the Concession Period shallshall , subject to payment of Concession Fee in accordance with this Agreement, be increased by 1.5% (one point five per centpercent) thereof; provided that such increase in Concession Period shall not in any case exceed 20% (twenty per centpercent) of the Concession Period. For the avoidance of doubt, and by way of illustration, it is agreed that in the event of a shortfall of 10.6% (ten point six per centpercent) in Target Traffic, the Concession Period shall be increased by 15% (fifteen per centpercent) thereof.