Non-fulfillment of Conditions Precedent i. In the event that any of the Conditions Precedents relating to the Concessionaire have not been fulfilled within 120 (one hundred and Twenty) days of the signing of this Agreement and also, the Concessioning Authority has not waived them fully or partially, this Agreement shall cease to have any effect as of that date and shall be deemed to have been terminated and Concessioning Authority shall not be liable in any manner whatsoever to the Concessionaire or persons claiming through or under it.
ii. In the event of Concessioning Authority failing to fulfil its conditions Precedent as per Article 2.4(b), the Concessioning Authority shall return to the Concessionaire the Upfront Premium deposited by the Concessionaire without any interest and shall refund the Construction Performance Security and this agreement shall be terminated.
iii. In the event the Concessioning Authority has terminated this Agreement under Article 2.4.2 (a) due to non-fulfilment of Conditions Precedent by the Concessionaire, the Concessioning Authority shall not be liable in any manner whatsoever to the Concessionaire or its contractors, agents and employees and the Concessioning Authority shall forfeit the Performance Security of the Concessionaire.
iv. In the event that Vacant Possession of the Project Site has been delivered to the Concessionaire prior to the fulfilment in full of the Conditions Precedent, upon the termination of this Agreement the Project Site shall immediately revert to the Concessioning Authority, free and clear from any Encumbrances, irrespective of any outstanding claims between the Parties or any other claims, disputes etc. whatsoever between the Parties.
Non-fulfillment of Conditions Precedent. In the event any condition precedent set forth in this Article 6 is not fulfilled due to a given Party’s fault, the right to claim non-fulfillment of such condition precedent shall not be available to such defaulting Party.
Non-fulfillment of Conditions Precedent i. In the event that any of the Conditions Precedents relating to the Concessionaire have not been fulfilled within 6 0 (One Hundred and Eighty) days of the signing of the Agreement and unless, the Concessioning Authority has not waived them fully or partially, the Agreement shall cease to have any effect as of that date and shall be deemed to have been terminated by the mutual agreement of the parties and no Party shall subsequently have any rights or obligations under the Agreement and Concessioning Authority shall not be liable in any manner whatsoever to the Concessionaire or persons claiming through or under it.
ii. In the event that the Concessionaire has fulfilled its Conditions Precedent and Concessioning Authority has not procured fulfillment of any or all of the Conditions Precedent set forth in Article 2.4
Non-fulfillment of Conditions Precedent a. In the event that any of the Conditions Precedents relating to the Concessionaire have not been fulfilled within 90 (ninety) days of the signing of this Agreement and also, the Authority has not extended or waived them fully or partially, this Agreement shall cease to have any effect as of that date and shall be deemed to have been terminated by the mutual agreement of the Parties and no Party shall subsequently have any rights or obligations under this Agreement and Authority shall not be liable in any manner whatsoever to the Concessionaire or persons claiming through or under it.
b. In the event that (i) the Authority does not procure fulfillment of any or all of the Conditions Precedent set forth in Article 4.2 within the period specified in respect thereof, and (ii) the delay has not occurred as a result of breach of this Agreement by the Concessionaire or due to Force Majeure, the Authority shall pay to the Concessionaire Damages of an amount equivalent to i.e. 0.01% of the Performance Security for each day's delay until the fulfillment of such Conditions Precedent, subject to a maximum of an amount of upto 5% of the Performance Security.
c. In the event that (i) the Concessionaire does not procure fulfillment of any or all of the Conditions Precedent set forth in Article 4.2 within a period of 90 (ninety) Days unless extended from the date of this Agreement, and (ii) the delay has not occurred as a result of failure to fulfill the obligations under Article 4.2 or other breach of this Agreement by the Authority, or due to Force Majeure, the Concessionaire shall pay to the Authority, Damages of an amount equivalent to i.e. 0.05% (zero point zero five per cent) of the Performance Security for each day’s delay until the fulfillment of such Conditions Precedent, subject to a maximum of an amount of upto 10% of the Performance Security.
Non-fulfillment of Conditions Precedent. 6.1. In the event the Purchaser is unable to fulfill its Conditions Precedent mentioned in 5.1 (a) by the Long Stop Date, the Seller shall have the following rights:
i. The Seller shall in its sole discretion have the right to extend the Long Stop Date till such date that the Purchaser may require to fulfill the said Condition Precedent; or
ii. In the event the Seller does not extend the Long Stop Date as per (i) above, then the Seller shall have the right to terminate the Agreement by repaying the Advance in full to the Purchaser without any delay or demur, within 15 Business Days from the date of receipt by the Seller a notice from the Purchaser requiring a refund of the said Advance; or
iii. In the event the Seller neither extends the Long Stop Date nor refunds the Advance as per sub-clauses (i) and (ii) above, the Purchaser shall, subject to Clause 19.1, have a right to transfer such number of Purchase Shares and take ownership and possession of or dispose of such number of Purchase Shares representing a value which is equivalent to the Advance amount based on the Purchase Consideration payable by the Purchaser, in any manner the Purchaser deems fit and release the balance Purchase Shares to the Seller.
6.2. In the event the Seller is unable to fulfill the Seller CPs, by the Long Stop Date, the Purchaser shall have the following rights:
i. The Purchaser shall in its sole discretion have the right to extend the Long Stop Date till such date that the Seller may require to fulfill its Conditions Precedent to the satisfaction of the Purchaser; or
ii. Further, in the event the Seller is unable to fulfill the Conditions Precedent till such extended Long Stop Date as per sub-clause (i) above, the Purchaser shall, subject to Clause 19.1, have a right to enforce, transfer all or any part of the Purchase Shares and take ownership and possession of or dispose of all or any of the Purchase Shares in any manner permitted by applicable Law upon such terms as the Purchaser determines, at its sole and absolute discretion and in accordance with the terms of this Agreement and/ or the Custody Agreement. On the transfer of the Purchase Shares as contemplated hereunder and/ or under the Custody Agreement, the Purchaser shall pay the balance Purchase Consideration to the Seller in due discharge of its payment obligations to the Seller against such Purchase Shares transferred or appropriated by the Purchaser in terms hereof.
6.3. It is the understanding between the Parties ...
Non-fulfillment of Conditions Precedent. Non-fulfillment of the Conditions Precedent within six(6) months from the date of signing of this Agreement shall render this Agreement null and void automatically and ..Escom shall stand discharged of all its obligations.
Non-fulfillment of Conditions Precedent. Non-fulfillment of the Conditions Precedent, within three (3) months from the date of signing of this Agreement shall render this Agreement null and void automatically and Corporation shall stand discharged of all obligations.
Non-fulfillment of Conditions Precedent i. In the event, the Conditions Precedent of a Party (defaulting party) have not been fulfilled within the stipulated time and the other party (non defaulting party) has not waived, fully or partially, such conditions relating to the defaulting party nor granted any extension of time for compliance in respect thereof, and the Non defaulting party deciding in such event to terminate this agreement by issuing a notice to the defaulting party to this effect then this Agreement shall cease to have any effect as of that date as mentioned in the notice of termination issued by the non defaulting party and shall be deemed to have been terminated by the mutual agreement of the Parties and no Party shall subsequently have any rights or obligations under this Agreement .
ii. In the event of such termination NRDA shall not be liable in any manner whatsoever to the Developer or Persons claiming through or under it.
iii. The possession of the Site delivered to the Developer prior to the fulfillment in full of the Conditions Precedent, upon the termination of this Agreement under this Section, the Site shall immediately revert to the NRDA, free and clear from any encumbrances and along with all Easementary Rights, irrespective of any outstanding mutual claims between the Parties. Instead of this Agreement terminating as provided in this Section, the Parties may by mutual agreement extend the time for fulfilling the Conditions Precedent.
Non-fulfillment of Conditions Precedent. (a) In case of non-fulfillment of any of the Conditions Precedent within six (6) months from the date of signing of this Agreement as stipulated in clause 2.1, ..ESCOM shall be entitled to terminate this Agreement as provided in clause 9.3.1.
(b) Information of termination pursuant to clause (a) above shall be notified by …ESCOM to the Company and the concerned authorities from whom such of the permits, clearances, approvals and Licenses have been obtained as specified in clause 2.1(a).
Non-fulfillment of Conditions Precedent. (a) In case of non-fulfillment of any of the Conditions Precedent within six (6) months from the date of signing of this Agreement as stipulated in clause 2.1
(b) Information of termination pursuant to clause (a) above shall be notified by
