Common use of Obligations relating to Change in Ownership Clause in Contracts

Obligations relating to Change in Ownership. 5.3.1 The Concessionaire shall not undertake or permit any Change in Ownership, except with the prior written approval of the Authority. 5.3.2 Notwithstanding anything to the contrary contained in this Agreement, the Concessionaire agrees and acknowledges that: (a) all acquisitions of Equity by an acquirer, either by himself or with any person acting in concert, directly or indirectly, including by transfer of the direct or indirect legal or beneficial ownership or control of any Equity, in aggregate of 25% (twenty five per cent) or more of the total Equity of the Concessionaire; or (b) acquisition of any control directly or indirectly of the Board of Directors of the Concessionaire by any person either by himself or together with any person or persons acting in concert with him, shall constitute a Change in Ownership requiring prior approval of the Authority from national security and public interest perspective, the decision of the Authority in this behalf being final, conclusive and binding on the Concessionaire, and undertakes that it shall not give effect to any such acquisition of Equity or control of the Board of Directors of the Concessionaire without such prior approval of the Authority. For the avoidance of doubt, it is expressly agreed that approval of the Authority hereunder shall be limited to national security and public interest perspective, and the Authority shall endeavor to convey its decision thereon

Obligations relating to Change in Ownership. 5.3.1 The Concessionaire shall not undertake or permit any Change in Ownership, except with the prior written approval of the Authority. 5.3.2 Notwithstanding anything to the contrary contained in this Agreement, the Concessionaire agrees and acknowledges that: (a) all acquisitions of Equity by an acquirer, either by himself or with any person acting in concert, directly or indirectly, including by transfer of the direct or indirect legal or beneficial ownership or control of any Equity, in aggregate of 25not less than 15% (twenty five fifteen per cent) or more of the total Equity of the Concessionaire; or (b) acquisition of any control directly or indirectly of the Board board of Directors directors of the Concessionaire by any person either by himself or together with any person or persons acting in concert with him, ; shall constitute a Change in Ownership requiring prior approval of the Authority from a national security and public interest perspective, the decision of the Authority in this behalf being final, conclusive and binding on the Concessionaire, and undertakes that it shall not give effect to any such acquisition of Equity or control of the Board board of Directors directors of the Concessionaire without such prior approval of the Authority. For the avoidance of doubt, it is expressly agreed that approval of the Authority hereunder shall be limited to a national security and public interest perspective, and the Authority shall endeavor endeavour to convey its decision thereonthereon expeditiously.

Obligations relating to Change in Ownership. 5.3.1 The Concessionaire shall not undertake or permit any Change in Ownership, except with the prior written approval of the Authority. 5.3.2 Notwithstanding anything to the contrary contained in this Agreement, the Concessionaire agrees and acknowledges that: (a) all acquisitions of Equity by an acquirer, either by himself or with any person acting in concert, directly or indirectly, including by transfer of the direct or indirect legal or beneficial ownership or control of any Equity, in aggregate of 25not less than 15% (twenty five fifteen per cent) or more of the total Equity of the Concessionaire; or (b) acquisition of any control directly or indirectly of the Board board of Directors directors of the Concessionaire by any person either by himself or together with any person or persons acting in concert with him, ; shall constitute a Change in Ownership requiring prior approval of the Authority from a national security and public interest perspective, the decision of the Authority in this behalf being final, conclusive and binding on the Concessionaire, and undertakes that it shall not give effect to any such acquisition of Equity or control of the Board board of Directors directors of the Concessionaire without such prior approval of the Authority. For the avoidance of doubt, it is expressly agreed that approval of the Authority hereunder shall be limited to a national security and public interest perspective, and the Authority shall endeavor endeavour to convey its decision thereonthereon expeditiously. For the purposes of this Clause 5.3.2: 9 Note: Applicable only if the Selected Bidder is a Consortium.