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

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. 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 Rs 5,000/- (Rupees Five Thousand Only) i.e. 0.010.1 % 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 5Rs 5,00,000/- (Rupees FiveLakhs Only) i.e. 10% 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 Rs 10,000/-( Rupees Ten Thousand Only) i.e. 0.050.2% (zero point zero five two 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 1010,00,000/- (Rupees Ten Lakh only) i.e. 20% of the Performance Security. d. In the event the Authority has terminated this Agreement under Article 4.4 (a) due to non- fulfillment of Conditions Precedent by the Concessionaire, the Authority shall not be liable in any manner whatsoever to the Concessionaire or its contractors, agents and employees and the Authority shall forfeit the Performance Security of the Concessionaire. e. In the event that the Project Site has been delivered to the Concessionaire on the ‘as is where is basis’ ‘free from encumbrances’ prior to the fulfillment in full of the Conditions Precedent on signing of Declaration of License, upon the termination of this Agreement the Project Site shall immediately revert to the Authority, free and free from any Encumbrances on ‘as is where is basis’, irrespective of any outstanding claims between the Parties or any other claims, disputes etc. whatsoever between the Parties.

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 INR 10,500/- (Rupees Ten Thousand Five Hundred Only) i.e. 0.010.1 % 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 5INR 10,50,000/- (Rupees Ten Lakhs Fifty Thousand Only) i.e 10% 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. 0.05INR 21,000/- ( Rupees Twenty One Thousand Only) i.e 0.2% (zero point zero five two 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 10INR 21,00,000/- (Rupees Twenty One Lakh only) i.e 20% of the Performance Security. d. In the event the Authority has terminated this Agreement under Article 4.4 (a) due to non- fulfillment of Conditions Precedent by the Concessionaire, the Authority shall not be liable in any manner whatsoever to the Concessionaire or its contractors, agents and employees and the Authority shall forfeit the Performance Security of the Concessionaire. e. In the event that the Project Site has been delivered to the Concessionaire on the ‘as is where is basis’ prior to the fulfillment in full of the Conditions Precedent on signing of Declaration of License , upon the termination of this Agreement the Project Site shall immediately revert to the Authority, free and clear from any Encumbrances on ‘as is where is basis’, irrespective of any outstanding claims between the Parties or any other claims, disputes etc. whatsoever between the Parties.

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. 0.01Rs 15,000/- (Rupees Fifteen Thousand Only) i.e 0.1 % 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 5Rs 15,00,000/- (Rupees Fifteen Lakhs Only) i.e 10% 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. 0.05Rs 30,000/-( Rupees Thirty Thousand Only) i.e 0.2% (zero point zero five two 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 1030,00,000/- (Rupees Thirty Lakh only) i.e 20% of the Performance Security. d. In the event the Authority has terminated this Agreement under Article 4.4 (a) due to non- fulfillment of Conditions Precedent by the Concessionaire, the Authority shall not be liable in any manner whatsoever to the Concessionaire or its contractors, agents and employees and the Authority shall forfeit the Performance Security of the Concessionaire. e. In the event that the Project Site has been delivered to the Concessionaire on the ‘as is where is basis’ prior to the fulfillment in full of the Conditions Precedent on signing of Declaration of License , upon the termination of this Agreement the Project Site shall immediately revert to the Authority, free and clear from any Encumbrances on ‘as is where is basis’, irrespective of any outstanding claims between the Parties or any other claims, disputes etc. whatsoever between the Parties.