Common use of Non-fulfillment of Conditions Precedent Clause in Contracts

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. i. a. In the event that any of the Conditions Precedents relating to the Concessionaire have not been fulfilled within 120 90 (one hundred and Twentyninety) 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 by the mutual agreement of the Parties and Concessioning 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. iib. In the event that the Concessionaire has fulfilled its Conditions Precedent and Authority has not procured fulfillment of any or all of the Condition Precedents set forth in Article 4.1 within the period specified in respect thereof, the Authority shall pay to the Concessionaire damages equivalent to an amount calculated at the rate of 0.05% (Point Zero Five per cent) of the Construction Performance Security for each day‟s delay until the fulfillment of the Conditions Precedent, subject to a maximum of 30 (thirty) days. In the event when the maximum days as above has lapsed and the Authority has still not been able to procure fulfillment of Concessioning Authority failing to fulfil its conditions any or all the Conditions Precedent as per set forth in Article 2.4(b), 4.1 and the Concessioning period for achievement of the same has not been mutually extended then the Authority shall be liable to 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 terminatedSecurity. iii. c. In the event the Concessioning Authority has terminated this Agreement under Article 2.4.2 4.4 (a) due to non-fulfilment non fulfillment 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 Construction Performance Security of the Concessionaire. iv. d. In the event that Vacant Possession of the Project Site has been delivered to the Concessionaire prior to the fulfilment fulfillment 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. e. Instead of terminating this Agreement as provided in paragraph (a) above, the Authority may extend the time for fulfilling the Conditions Precedent by imposing a penalty equivalent to an amount calculated at the rate of 0.3% (Zero Point Three percent) of the Construction Performance Security for each day‟s delay until the fulfillment of the Conditions Precedent, subject to a maximum of 30 (thirty) days.

Non-fulfillment of Conditions Precedent. i. (a) In the event that any of the Conditions Precedents Precedent for a party have not been satisfied within the stipulated time and H.D.A. has not waived such conditions relating to the Concessionaire have not been fulfilled within 120 (one hundred and Twenty) days of or the signing of this Agreement and also, the Concessioning Authority Concessionaire has not waived them such conditions relating to H.D.A., as the case may be, 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 Concessioning Authority no party shall not subsequently have any rights or obligations under this Agreement and neither party shall be liable to the other party in any manner whatsoever to the Concessionaire or persons claiming through or under it. ii. In , save and except for forfeiture of the bid security by H.D.A. in the event of Concessioning Authority failing this Agreement ceasing to fulfil its conditions Precedent as per Article 2.4(b), the Concessioning Authority shall return have any effect due to the Concessionaire default on the Upfront Premium deposited by part of the Concessionaire without any interest and shall refund the Construction Performance Security and this agreement shall be terminatedto satisfy its Conditions Precedent. iii. In the event the Concessioning Authority has terminated this Agreement under Article 2.4.2 (ab) 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 Upon the termination of this Agreement under this Article 2.4, the right of access to or possession of the Project Site granted to the Concessionaire pursuant to this Agreement shall forthwith terminate, and the Concessionaire and the Persons claiming through or under it shall immediately cease to have access and remove itself from the Project Site, without any demur or delay, Vacant Possession of the Project Site shall immediately revert to the Concessioning AuthorityH.D.A., free and clear from any EncumbrancesEncumbrances and along with all Easementary rights, irrespective of any outstanding or mutual claims between the Parties or claims of any other claimsperson. (c) In the event this Agreement is terminated due to non-fulfillment of the Concessionaire’s Conditions Precedent, disputes etc. whatsoever between H.D.A. shall forfeit the PartiesPerformance Security or Bid Security as damages. (d) In the event this Agreement is terminated due to non-fulfillment of H.D.A.’s Conditions Precedent as above and the same is not due to the Concessionaire’s default, H.D.A. shall release the Performance Security or/and Bid Security, as the case may be. (e) Instead of this Agreement terminating as provided in this Article 2.4, the Parties may by mutual agreement extend the time for fulfilling the Conditions Precedent.

Non-fulfillment of Conditions Precedent. i. In the event that any of the Conditions Precedents relating to the Concessionaire have not been fulfilled within 120 180 (one hundred One Hundred and TwentyEighty) days of the signing of this Agreement and also, the Concessioning Authority has not waived them th em 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 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 that the Concessionaire has fulfilled its Conditions Precedent and Concessioning Authority failing to fulfil its conditions has not procured fu lfillment of any or all of the Conditio ns Precedent as per set forth in Article 2.4(b)2.4 (b) within the period specified in respect thereof, the Concessioning Authority shall return pay to the Concessionaire damages equivalent to an amount calculated at the Upfront Premium deposited by rate of 0.1% (Zer o point one per cent) of the Performance Security for each day’s delay until the fulfillment of the Condition Precedent, subject to a maximum of 20% (twenty percent) of the Performance Security. In the event when the maximum damages as above has become pay able and the Concessioning Authority has still not been able to procure fulfillment of any or all the Conditions Precedent set forth in Article 2.4 (b) and the period for achievement of the same has not been mutually extended then the Concessioning Authori ty shall be liable to return the Concessionaire without any interest and shall refund the Construction Performance Security and this agreement shall be terminated. iiiSecurity. 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.Article

Non-fulfillment of Conditions Precedent. i. In the event that any of the Conditions Precedents relating to the Concessionaire have not been fulfilled within 120 180 (one hundred One Hundred and TwentyEighty) 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 by the mutual agreeme nt of the parties and no Party shall subsequently have any rights or obligations under this 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 of that the Concessionaire has fulfilled its Conditions Precedent and Concessioning Authority failing has not procured fulfillment of any or all of the Conditio ns Precedent set forth in Article 2.4 (b) within the period specified in respect thereof, the Concessioning Aut hority shall pay to fulfil its conditions the Concessionaire damages equivalent to an amount calculated at the rate of 0.1% (Zero point one per cent) of the Performance Security for each day’s delay until the fulfillment of the Condition Precedent, subject to a maximum of 20% ( twenty percent) of the Performance Security. In the event when the maximum damages as above has become payable and the Concessioning Authority has still not been able to procure fulfillment of any or all the Conditions Precedent as per set forth in Article 2.4(b), 2.4 (b ) and the period for achievement of the same has not been mutually extended then the Concessioning Authority shall be liable to 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. iiiSecurity. 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.Article

Non-fulfillment of Conditions Precedent. i. In the event that any of the Conditions Precedents relating to the Concessionaire have not been fulfilled within 120 180 (one hundred One Hundred and TwentyEighty) days of the signing of this the Agreement and alsounless, the Concessioning Authority has not waived waiv ed them fully or partially, this 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 of that the Concessionaire has fulfilled its Conditions Precedent and Concessioning Authority failing to fulfil its conditions has not procured fulfillment of any or all of the Conditio ns Precedent as per set forth in Article 2.4(b)2.4 (b) within the period specified in respect thereof, and unless, the Concessioning Authority has not waived them fully or partially, the Concessioning Authority shall return p ay to the Concessionaire damages equivalent to an amount calculated at the Upfront Premium deposited by rate of 0.1% (Zero point one per cent) of the Performance Security for each day’s delay until the fulfillment of the Condition Precedent, subject to a maximum of 20% (twenty percent ) of the Performance Security. In the event when the maximum damages as above has become payable and the Concessioning Authority has still not been able to procure fulfillment of any or all the Conditions Precedent set forth in Article 2.4 (b) and the peri od for achievement of the same has not been mutually extended then the Concessioning Authority shall be liable to return the Concessionaire without any interest and shall refund the Construction Performance Security and this agreement shall be terminated. iiiSecurity. In the event the Concessioning Authority has terminated this the Agreement under Article 2.4.2 2. 4.2 (ai) due to non-fulfilment non- fulfillment 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 forf eit the Performance Security of the ConcessionaireConcessionaire . iviii. In the event that Vacant Possession Right of Way to the Project Site has been delivered to the Concessionaire prior to the fulfilment fulfillment in full of the Conditions Precedent, upon the termination of this the Agreement the Project Pro ject 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. iv. Instead of terminating the Agreement as provided in paragraph (a) above or as the case may be, the Parties may extend the time for fulfilling the Conditions Precedent by mutual agreement.

Non-fulfillment of Conditions Precedent. i. In the event that any that i) Any of the Conditions Precedents relating to the Concessionaire as setforth in Clause 2.4.c have not been fulfilled within 120 180 (one hundred One Hundred and TwentyEighty) days of the signing of this Agreement and also, the Concessioning Authority has not waived them fully or partially, , ii) the delay has not occurred as a result of failure to fulfil the obligations under Clause 2.4.b or other breach of this Agreement by the Authority or due to Force Majeure, The Concessionaire shall cease pay to have any effect as of that date and shall be deemed to have been terminated and the Concessioning Authority shall not be liable damages in any manner whatsoever an amount calculated at the rate of 0.3% (zero point three per cent) of the Performance Security for each day’s delay until the fulfillment of such Conditions Precedent, subject to a maximum of 15% (fifteen percent) of the Concessionaire or persons claiming through or under it. iiPerformance Security. . In the event of that the Concessionaire has fulfilled its Conditions Precedent and Concessioning Authority failing to fulfil its conditions has not procured fulfillment of any or all of the Conditions Precedent as per set forth in Article 2.4(b)2.4 (b) within the period specified in respect thereof, the Concessioning Authority shall return pay to the Concessionaire damages equivalent to an amount calculated at the Upfront Premium deposited by rate of 0.1% (Zero point one per cent) of the Performance Security for each day’s delay until the fulfillment of the Condition Precedent, subject to a maximum of 15% (fifteen percent) of the Performance Security. (a) In the event when the maximum damages as above has become payable and the Concessioning Authority has still not been able to procure fulfillment of any or all the Conditions Precedent set forth in Article 2.4 (b) and the period for achievement of the same has not been mutually extended then the Concessioning Authority shall be liable to return the Concessionaire without any interest and shall refund the Construction Performance Security and this agreement shall be terminatedSecurity. iii. (b) In the event the Concessioning Authority has terminated this Agreement under Article 2.4.2 2.4.2 (ai) due to non-fulfilment fulfillment 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. Concessionaire In the event that Vacant Possession Right of Way to the Project Site has been delivered to the Concessionaire prior to the fulfilment fulfillment 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. Instead of terminating this Agreement as provided in paragraph (a) above or as the case may be, the Parties may extend the time for fulfilling the Conditions Precedent by mutual agreement. Without prejudice to the provisions of Clauses 2.4.2.a and 2.4.2.b, the Parties expressly agree that in the event the Compliance Date does not occur, for any reason whatsoever, within a period of 180 (one hundred and eighty) days from the date of this Agreement or the extended period provided in accordance with this Agreement, all rights, privileges, claims and entitlements of the Concessionaire under or arising out of this Agreement shall be deemed to have been ceased with the concurrence of the Concessionaire, and the Concession Agreement shall be deemed to have been terminated by mutual agreement of the Parties. Provided, however, that in the event the delay in occurrence of the Compliance Date is for reasons attributable to the Concessionaire, the Performance Security of the Concessionaire shall be encashed and appropriated by the Authority as Damages thereof.

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 90 (one hundred and Twentyninety) 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 by the mutual agreement of the Parties and Concessioning 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. ii. In the event that the Concessionaire has fulfilled its Conditions Precedent and Authority has not procured fulfillment of Concessioning Authority failing to fulfil its conditions Precedent as per any or all of the Condition Precedents set forth in Article 2.4(b)4.1 within the period specified in respect thereof, the Concessioning Authority shall return pay to the Concessionaire damages equivalent to an amount calculated at the Upfront Premium deposited by the Concessionaire without any interest and shall refund rate of 0.05% (Point Zero Five per cent) of the Construction Performance Security for each day’s delay until the fulfillment of the Conditions Precedent, subject to a maximum of 30 (thirty) days. In the event when the maximum days as above has lapsed and this agreement the Authority has still not been able to procure fulfillment of any or all the Conditions Precedent set forth in Article 4.1 and the period for achievement of the same has not been mutually extended then the Authority shall be terminated. iiiliable to return the Concessionaire the Construction Performance Security. In the event the Concessioning Authority has terminated this Agreement under Article 2.4.2 4.4 (a) due to non-fulfilment non fulfillment 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 Construction 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 fulfillment 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. Instead of terminating this Agreement as provided in paragraph (a) above, the Authority may extend the time for fulfilling the Conditions Precedent by imposing a penalty equivalent to an amount calculated at the rate of 0.3% (Zero Point Three percent) of the Construction Performance Security for each day’s delay until the fulfillment of the Conditions Precedent, subject to a maximum of 30 (thirty) days.

Non-fulfillment of Conditions Precedent. i. (a) In the event that any of the Conditions Precedents Precedent relating to the Concessionaire a Party have not been fulfilled within 120 (one hundred and Twenty) 30 days of the signing of this Agreement and alsoin case of the Concessionaire, the Concessioning Authority has not waived them fully or partially, the other Party may, notwithstanding anything to the contrary in this Agreement, terminate 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 itwith immediate effect. 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. (b) In the event the Concessioning Authority has terminated this Agreement under Article 2.4.2 Clause 3.4 (a) due to non-fulfilment non fulfillment 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. (c) In the event this Agreement is terminated by the Concessionaire under Clause 3.4 (a) due to non-fulfillment of Concessioning Authority’s Conditions Precedent and the Concessionaire is not in any Material Breach of this Agreement, the Concessioning Authority shall refund to the Concessionaire the Performance Security. (d) In the event that Vacant Possession of the Project Site has been delivered to the Concessionaire prior to the fulfilment fulfillment 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 whatsoever. (e) Instead of terminating this Agreement as provided in paragraph (a) above, the PartiesParties may extend the time for fulfilling the Conditions Precedent and the Concession Period by mutual agreement.

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 6 0 (one hundred One Hundred and TwentyEighty) days of the signing of this the Agreement and alsounless, the Concessioning Authority has not waived them fully or partially, this 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 of that the Concessionaire has fulfilled its Conditions Precedent and Concessioning Authority failing to fulfil its conditions has not procured fulfillment of any or all of the Conditions Precedent as per set forth in Article 2.4(b)2.4 (b) within the period specified in respect thereof, and unless, the Concessioning Authority has not waived them fully or partially, the Concessioning Authority shall return pay to the Concessionaire damages equivalent to an amount calculated at the Upfront Premium deposited by rate of 0.1% (Zero point one per cent) of the Performance Security for each day’s delay until the fulfillment of the Condition Precedent, subject to a maximum of 2 0 % (twenty percent) of the performance security. In the event when the maximum damages as above has become payable and the Concessioning Authority has still not been able to procure fulfillment of any or all the Conditions Precedent set forth in Article 2.4 (b) and the period for achievement of the same has not been mutually extended then the Concessioning Authority shall be liable to return the Concessionaire without any interest and shall refund the Construction Performance Security and this agreement shall be terminated. iiiSecurity. In the event the Concessioning Authority has terminated this the Agreement under Article 2.4.2 (ai) due to non-fulfilment non- fulfillment 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. iviii. In the event that Vacant Possession Right of Way to the Project Site has been delivered to the Concessionaire prior to the fulfilment fulfillment in full of the Conditions Precedent, upon the termination of this the 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. iv. Instead of terminating the Agreement as provided in paragraph (a) above or as the case may be, the Parties may extend the time for fulfilling the Conditions Precedent by mutual agreement.

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 000 ( Xxx Xxxxxxx and TwentyEighty) 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 by the mut ual agreement of the parties and no Party shall subsequently have any rights or obligations under this 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 of that the Concessionaire has fulfilled its Conditions Precedent and Concessioning Authority failing to fulfil its conditions has not procured fulfillment of any or all of the Conditio ns Precedent as per set forth in Article 2.4(b)2.4 (b) within the period specified in respect thereof, the Concessioning Authority shall return pay to the Concessionaire damages equivalent to an amount calculated at the Upfront Premium deposited by rate of 0.1% (Zero point one per cent) of the Performance Security for each day’s delay until the fulfillment of the Condition Precedent, subject to a maxim um of 20% (twenty percent) of the Performance Security. In the event when the maximum damages as above has become payable and the Concessioning Authority has still not been able to procure fulfillment of any or all the Conditions Precedent set forth in Art icle 2.4 (b) and the period for achievement of the same has not been mutually extended then the Concessioning Authority shall be liable to return the Concessionaire without any interest and shall refund the Construction Performance Security and this agreement shall be terminated. iiiSecurity. In the event the Concessioning Authority has terminated this Agreement Agre ement 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.Article