Optional Development. 12.4.1 The Concessionaire shall, subject to provisions of this Agreement including Clause 2.1(e) hereof have the right to exercise an option of undertaking construction of Medical College anytime during the Concession Period subject to fulfilment of Medical Council of India/competent authority’s requirement in respect of development of Medical College. The Concessionaire shall, subject to aforesaid provision, only commence the construction for Optional Development post receiving written approval from the Authority. Provided, however, such approval from Authority, if granted shall be without prejudice to Concessionaire’s obligation towards inter alia operation and maintenance of Mandatory Phases of the Project in accordance with provisions of this Agreement.
Appears in 4 contracts
Samples: Concession Agreement, Concession Agreement, Concession Agreement
