Common use of Permitted Charge on Assets Clause in Contracts

Permitted Charge on Assets. The Concessionaire shall be entitled to create a charge on its rights, title and interest in the assets referred to in Article 10.1(b) in favour of Lenders for securing the Financial Assistance provided or agreed to be provided by them under the Financing Documents. Provided, any such charge shall not be effective before Financial Close and shall not continue for a period exceeding the Concession Period. Provided further, that such charge shall not be for the Project Site nor encumber the Project Site and/or the Port’s Assets. Provided further, in the event of termination of this Agreement, the said charge shall stand extinguished upon payment of compensation by the Concessioning Authority to the Lenders, to the extent they are entitled to receive the same in accordance with the provisions of this Agreement.

Permitted Charge on Assets. The Concessionaire Operator shall be entitled to create a charge on its rights, title and interest in the assets referred to in Article 10.1(b) in favour of Senior Lenders for securing the Financial Assistance provided or agreed to be provided by them under the Financing Documents. Provided, any such charge shall not be effective before Financial Close close and shall not continue for a period exceeding the Concession Agreement Period. Provided further, that such charge shall not be for the Project Site nor encumber the Project Site and/or the Port’s Assets. Provided further, in the event of termination of this Agreement, the said charge shall stand extinguished upon payment of compensation by the Concessioning Authority to the Senior Lenders, to the extent they are entitled to receive the same in accordance with the provisions of this Agreement.

Permitted Charge on Assets. The Concessionaire shall be entitled to create a charge on its rights, title and interest in the assets referred to in Article 10.1(b) in favour of Senior Lenders for securing the Financial Assistance provided or agreed to be provided by them under the Financing Documents. Provided, any such charge shall not be effective before Financial Close and shall not continue for a period exceeding the Concession Period. Provided further, that such charge shall not be for the Project Site nor encumber the Project Site and/or the Port’s Assets. Provided further, in the event of termination of this Agreement, the said charge shall stand extinguished upon payment of compensation by the Concessioning Authority to the Senior Lenders, to the extent they are entitled to receive the same in accordance with the provisions of this Agreement.

Permitted Charge on Assets. The Concessionaire shall be entitled to create a charge on its rights, title and interest in the assets referred to in Article 10.1(b) in favour of Senior Lenders for securing the Financial Assistance provided or agreed to be provided by them under the Financing Documents. Provided, any such charge shall not be effective before Financial Close close and shall not continue for a period exceeding the Concession Period. Provided further, that such charge shall not be for the Project Site nor encumber the Project Site and/or the Port’s Assets. Provided further, in the event of termination of this Agreement, the said charge shall stand extinguished upon payment of compensation by the Concessioning Authority to the Senior Lenders, to the extent they are entitled to receive the same in accordance with the provisions of this Agreement.

Permitted Charge on Assets. The Concessionaire shall be entitled to create a charge on its rights, title and interest in the assets referred to in Article 10.1(b10.1 (b) in favour of Senior Lenders for securing the Financial Assistance provided or agreed to be provided by them under the Financing Documents. Provided, any such charge shall not be effective before Financial Close and shall not continue for a period exceeding the Concession Period. Provided further, that such charge shall not be for the Project Site nor encumber the Project Site and/or the Port’s Assets. Provided further, in the event of termination of this Agreement, the said charge shall stand extinguished upon payment of compensation by the Concessioning Authority to the Senior Lenders, to the extent they are entitled to receive the same in accordance with the provisions of this Agreement.