Common use of Payment Obligations of the Concessionaire Clause in Contracts

Payment Obligations of the Concessionaire. The Concessionaire shall pay to the Authority the following fee prior to and/or during the Concession Period, a fixed fee, commencing from the first anniversary of Appointed Date, on an annual basis (the “Annual Fee”). The Annual Fee payable from the first anniversary of the Appointed Date shall be equivalent to a sum of INR 1 (Rupee One Only) which shall be the amount payable for the first year of Concession Period. The Annual Fee for the first year shall be payable by the Concessionaire within 30 days from first anniversary of the Appointed Date. The subsequent annual installments of the Annual Fee shall be paid during the remaining Concession Period within 30 days of the relevant anniversary date of the Appointed Date.