Common use of Performance Review and Termination Clause in Contracts

Performance Review and Termination. (a) Project Review Committee shall have a quarterly report prepared on the operations and maintenance of the Project Facilities based on the methodology outlined in Schedule 6. The Developer shall extend full cooperation in the preparation of the report. (b) The report shall be presented, discussed and finalized in the meeting of the Project Review Committee. (c) The Project Review Committee shall review the performance of the Developer on the basis of scores obtained by him as per the report in the Clause 10.3 (a). (d) In case, if score obtained by the Developer is less than 70%, the Authority may exercise its power and issue a show cause notice to the Developer, and require the Developer to make sure that remedial action is taken to ensure that the performance is sufficient to ensure a score of at least 70%. (e) In case, less than 70% score is obtained by the Developer for a continuous period of 3 quarters, it shall be considered as the Developer Event of Default and shall be subjected to the provisions of Clause 9.2 of Project Development and Management Agreement. (f) In case, less than 70% score is obtained by the Developer for any 4 quarters within a continuous period of 3 years, it shall be considered as the Developer Event of Default and shall be subjected to the provisions of Clause 9.2 of Project Development and Management Agreement. (g) The renewal of the Agreement according to Clause 3.2.2 of the Agreement will be conditional to the Developer not receiving a score of less than 70% for more than 2 quarters in the last 2 years of operation prior to renewal of the Agreement.

Performance Review and Termination. (a) Project Review Committee shall have a quarterly report prepared on the operations and maintenance of the Project Facilities based on the methodology outlined in Schedule 6. The Developer shall extend full cooperation in the preparation of the report. (b) The report shall be presented, discussed and finalized in the meeting of the Project Review Committee. (c) The Project Review Committee shall review the performance of the Developer on the basis of scores obtained by him as per the report in the Clause 10.3 (a10.3(a). (d) In case, if score obtained by the Developer is less than 70%, the Authority may exercise its power and issue a show cause notice to the Developer, and require the Developer to make sure that remedial action is taken to ensure that the performance is sufficient to ensure a score of at least 70%. (e) In case, less than 70% score is obtained by the Developer for a continuous period of 3 quarters, it shall be considered as the Developer Event of Default and shall be subjected to the provisions of Clause 9.2 of Project Development and Management Agreement. (f) In case, less than 70% score is obtained by the Developer for any 4 quarters within a continuous period of 3 years, it shall be considered as the Developer Event of Default and shall be subjected to the provisions of Clause 9.2 of Project Development and Management Agreement. (g) The renewal of the Agreement according to Clause 3.2.2 of the Agreement will be conditional to the Developer not receiving a score of less than 70% for more than 2 quarters in the last 2 years of operation prior to renewal of the Agreement.

Performance Review and Termination. (a) Project Review Committee shall have a quarterly report prepared on the operations and maintenance of the Project Facilities based on the methodology outlined in Schedule 6. The Developer shall extend full cooperation in the preparation of the report. (b) The report shall be presented, discussed and finalized in the meeting of the Project Review Committee. (c) The Project Review Committee shall review the performance of the Developer on the basis of scores obtained by him as per the report in the Clause 10.3 sub-clause (a)) hereinabove. (d) In case, if score obtained by the Developer is less than 70%, the Authority may exercise its power and issue a show cause notice to the Developer, and require the Developer to make sure that remedial action is taken to ensure that the performance is sufficient to ensure a score of at least 70%. (e) In case, less than 70% score is obtained by the Developer for a continuous period of 3 quarters, it shall be considered as the Developer Event of Default and shall be subjected to the provisions of Clause 9.2 of Project Development and Management Agreement. (f) In case, less than 70% score is obtained by the Developer for any 4 quarters within a continuous period of 3 years, it shall be considered as the Developer Event of Default and shall be subjected to the provisions of Clause 9.2 of Project Development and Management Agreement. (g) The renewal of the Agreement according to Clause 3.2.2 of the Agreement will be conditional to the Developer not receiving a score of less than 70% for more than 2 quarters in the last 2 years of operation prior to renewal of the Agreement.

Performance Review and Termination. ‌ (a) Project Review Committee shall have a quarterly report prepared on the operations and maintenance of the Project Facilities based on the methodology outlined in Schedule 6. The Developer shall extend full cooperation in the preparation of the report. (b) The report shall be presented, discussed and finalized in the meeting of the Project Review Committee. (c) The Project Review Committee shall review the performance of the Developer on the basis of scores obtained by him as per the report in the Clause 10.3 (a). (d) In case, if score obtained by the Developer is less than 70%, the Authority may exercise its power and issue a show cause notice to the Developer, and require the Developer to make sure that remedial action is taken to ensure that the performance is sufficient to ensure a score of at least 70%. (e) In case, less than 70% score is obtained by the Developer for a continuous period of 3 quarters, it shall be considered as the Developer Event of Default and shall be subjected to the provisions of Clause 9.2 of Project Development and Management Agreement. (f) In case, less than 70% score is obtained by the Developer for any 4 quarters within a continuous period of 3 years, it shall be considered as the Developer Event of Default and shall be subjected to the provisions of Clause 9.2 of Project Development and Management Agreement. (g) The renewal of the Agreement according to Clause 3.2.2 of the Agreement will be conditional to the Developer not receiving a score of less than 70% for more than 2 quarters in the last 2 years of operation prior to renewal of the Agreement.

Performance Review and Termination. (a) Project Review Committee shall have a quarterly report prepared on the operations and maintenance of the Project Facilities based on the methodology outlined in Schedule 6. The Developer shall extend full cooperation in the preparation of the report. (b) The report shall be presented, discussed and finalized in the meeting of the Project Review Committee. (c) The Project Review Committee shall review the performance of the Developer on the basis of scores obtained by him as per the report in the Clause 10.3 (a10.3(a). (d) In case, if score obtained by the Developer is less than 70%, the Authority may exercise its power and issue a show cause notice to the Developer, and require the Developer to make sure that remedial action is taken to ensure that the performance is sufficient to ensure a score of at least 70%. (e) In case, less than 70% score is obtained by the Developer for a continuous period of 3 quarterssix months, it shall be considered as the Developer Event of Default and shall be subjected to the provisions of Clause 9.2 of Project Development and Management Agreement. (f) In case, less than 70% score is obtained by the Developer for any 4 quarters within a continuous period of 3 years, it shall be considered as the Developer Event of Default and shall be subjected to the provisions of Clause 9.2 of Project Development and Management Agreement. (g) The renewal of the Agreement according to Clause 3.2.2 3.3.2 of the Agreement will be conditional to the Developer not receiving a score of less than 70% for more than 2 quarters times in the last 2 years of operation prior to renewal of the Agreement.