Common use of Payments of Royalty Clause in Contracts

Payments of Royalty. (a) The Concessionaire shall pay to the Concessioning Authority Royalty per Month equivalent to [●] % ([●] percent) of the Gross Revenue chargeable by the Concessionaire (“the Royalty”). (b) Gross Revenue shall be computed on the basis of the maximum Tariffs leviable for and in respect of the Project Facilities and Services provided during the relevant period of computation. It is clarified that discounts and deferments, if any offered by the Concessionaire to the users or amounts if any not collected by the Concessionaire for any reason whatsoever in respect of the Project Facilities and Services, shall be ignored for the purpose of Gross Revenue. Further, in computing the Gross Revenue, 27 This may need to be edited depending on the Project. 28 Where the fees is paid on a half yearly/yearly basis, it may also contain an escalation as may be stipulated by the Concessioning Authority. income from interest, sale of assets, amounts received by the Concessionaire by way of damages from third parties (excepting damages received from the users on account of demurrage or such other related charges in respect of the Project Facilities and Services), taxes and cesses in respect to the Project Facilities and Services, if any collected and paid to any Government Authority shall also be ignored. (c) Royalty for each Month shall be paid on or before the seventh Day of the immediately succeeding Month. (d) The payment of Royalty shall commence from the Month in which the Concessionaire commences to provide any Project Facilities and Services, and shall be irrespective of Date of Commercial Operation. (e) Royalty amounts remaining unpaid on respective due dates would carry interest @ SBI PLR plus 2% (two percent) per annum from the due date till the date of payment or realization thereof.

Payments of Royalty. (a) The Concessionaire shall pay to the Concessioning Authority Royalty per Month equivalent to [●] 27.90 % ([●] Twenty Seven Point Nine Zero percent) of the Gross Revenue chargeable by the Concessionaire (“the Royalty”). (b) Gross Revenue shall be computed on the basis of the maximum Tariffs leviable for and in respect of the Project Facilities and Services provided during the relevant period of computation. It is clarified that discounts and deferments, if any offered by the Concessionaire to the users or amounts if any not collected by the Concessionaire for any reason whatsoever in respect of the Project Facilities and Services, shall be ignored for the purpose of Gross Revenue. Further, in computing the Gross Revenue, 27 This may need to be edited depending on the Project. 28 Where the fees is paid on a half yearly/yearly basis, it may also contain an escalation as may be stipulated by the Concessioning Authority. income from interest, sale of assets, amounts received by the Concessionaire by way of damages from third parties (excepting damages received from the users on account of demurrage or such other related charges in respect of the Project Facilities and Services), taxes and cesses in respect to the Project Facilities and Services, if any collected and paid to any Government Authority shall also be ignored. (c) Royalty for each Month shall be paid on or before the seventh Day of the immediately succeeding Month. (d) The payment of Royalty shall commence from the Month in which the Concessionaire commences to provide any Project Facilities and Services, and shall be irrespective of Date of Commercial Operation. (e) Royalty amounts remaining unpaid on respective due dates would carry interest @ SBI PLR plus 2% (two percent) per annum from the due date till the date of payment or realization thereof.