Project Lease a) The project site shall be leased to the concessionaire within 15 days after completion of:
i) Common Social and Physical Infrastructure including site development of Golf Course Area.
Project Lease. Unless the context otherwise requires, the terms defined in this section shall for all purposes hereof and of the Master Project Lease and of any certificate, opinion, report, request or other document mentioned herein or therein have the meanings defined herein, the following definitions to be equally applicable to both the singular and plural forms of any of the terms defined herein: Additional Rental Payments
Project Lease a) The project site shall be leased to the concessionaire within 15 (fifteen) days from the compliance date. Till such time the Project Site shall be on license. The cost towards such lease and its registration shall be borne by the Concessionaire..
b) In consideration of the rights, privileges and interests granted by the Concessioning Authority to the Concessionaire in terms of this Agreement with respect to Project Site, the Concessionaire shall pay to the Concessioning Authority or its nominee / designated recipient an Annual Lease Rent.(the“ Annual Lease Rent”).
c) The lease shall be initially for the period of 30 (thirty) years and the same shall be further extendable such that it is co-terminus with the concession period unless this Concession Agreement is terminated due to any Force Majeure event or on account of any reasons solely attributable to the Concessionaire.
d) the Annual Lease Rent shall be calculated as 2% (two percent) of the upfront premium of Rs. 2 crores payable by the Concessionaire at time of signing of the Concession Agreement for first 30(Thirty) years and the same shall be increased to maximum 100% of the Annual Lease Rent for the balance period, unless this Concession Agreement is terminated due to any Force Majeure event or on account of any reasons solely attributable to the Concessionaire.
e) The first Annual Lease Rent shall be due and payable from the Compliance Date and accordingly, the Concessionaire shall deposit the Annual Lease Rent 7 (seven) days prior to the starting of the same month every year, throughout the Concession Period.
f) The Annual Lease Rent shall be payable by the Concessionaire to the Concessioning Authority or its nominee / designated recipient in the form of demand Draft payable at Raipur/Naya Raipur.
g) In the event of delay up to one week in payment by the Concessionaire, the Concessionaire shall be required to pay the Concessioning Authority or its nominee / designated recipient interest at the rate of SBI PLR plus 4% per annum. In the case of delay beyond such four weeks, it shall be a Concessionaire Event of Default.
h) The Concessionaire shall pay service tax and / or any other tax as applicable over and above the Annual Lease Rent to Concessioning Authority. However, all duties and taxes in consequence of its obligations under this Concession Agreement, including customs and excise duties, advertisement tax, VAT, any cess, levy, duty, tax or charge etc shall be directly borne by the Concessio...
Project Lease. The Members acknowledge and agree that neither Member nor the Company shall interfere with the terms of the Project Lease, including the requirement to pay periodic payments or advance payments thereunder and the obligation to pay royalties under the Exxon Assignment.
Project Lease. All of Seller’s right, title and interest under that certain Project Lease Agreement (“Convention Center Lease”) dated as of June 29, 2001, by and between TCID, as landlord, and Seller, as tenant, as heretofore amended, with respect to the multi-use convention center/meeting facility contiguous to the Hotel and related improvements, personal property, land and leasehold interests, all as set forth in the Convention Center Lease (collectively, the “Convention Center Project”).
Project Lease. No Borrower will suffer or permit any breach or default to occur in any of such Borrower's obligations under the applicable Project Lease nor suffer or permit the same to terminate by reason of any failure of such Borrower to meet any requirement of such Project Lease. Borrowers shall notify Lender promptly in writing in the event a Project Lessee commits a material default under a Project Lease. Borrower shall require Project Lessee to comply with the terms of the Project Lease and will not materially modify or terminate the Project Lease without Lender's consent.
Project Lease. Grantor shall (i) pay when due all rents, additional rents and other sums required to be paid by Grantor as lessee under the Project Lease, (ii) diligently perform and observe all of the other terms of the Project Lease to be performed and observed by the lessee thereunder, prior to the expiration of any applicable grace period therein, and (iii) promptly notify Secured Party of the receipt by Grantor of any written notice from the Ground Lessor or Project Lessor claiming the occurrence of any default by Grantor under the Project Lease and deliver to Secured Party a true copy of each such notice. Grantor shall not, without the prior consent of Secured Party, surrender the subleasehold estate created by the Project Lease or terminate or cancel the Project Lease, and except for such modifications as may be expressly permitted pursuant to the Loan Agreement, Grantor shall not modify or supplement the Project Lease, and Grantor hereby assigns to Secured Party, as further security for the payment of the Debt, all of Grantor’s rights and privileges, as lessee under the Project Lease, to surrender the subleasehold estate created by the Project Lease or to terminate, cancel, modify or supplement the Project Lease, and any such surrender, termination, cancellation, modification or supplement (to the extent such modification or supplement is not expressly permitted under the Loan Agreement without Secured Party consent) without the prior consent of Secured Party shall be void and of no force and effect. If Grantor fails to perform or observe any material term of the Project Lease to be performed or observed by it thereunder, then, without limiting the generality of the other provisions of this Security Instrument, and without waiving or releasing Grantor from any of its obligations hereunder, Secured Party shall have the right, but shall be under no obligation, to pay any sum and to take any action (including entry upon the Mortgaged Property) to cause such performance or observance on behalf of Grantor, so that the rights of Grantor under the Project Lease are unimpaired and free from default, even if the existence or the nature of Grantor’s default is being questioned or denied by Grantor or another person. If Secured Party shall make any payment or perform any act or take action in accordance with the preceding sentence at any time prior to the occurrence of an Event of Default, Secured Party will notify Grantor of the making of any such payment, the performance ...
Project Lease. THIS PROJECT LEASE (this “Project Lease”), made and entered into as of June 1, 2013, by and between the CITY OF SAN XXXX FINANCING AUTHORITY, a public body, corporate and politic, duly organized and existing under and by virtue of the laws of the State of California (the “Authority”), and the CITY OF SAN XXXX, a charter city and municipal corporation, duly organized and existing under and by virtue of its charter and the Constitution of the State of California (the “City”).
Project Lease the Lease Agreement among the Authority, as lessor, the City of Danville, Virginia, and Borrower, as lessee, dated May 3, 1996, as amended, modified, supplemented or restated from time to time. Project Loan - the non-recourse loan from Fleet to the Authority in an amount up to $9,000,000 to finance the actual hard and soft costs of constructing the Project.
Project Lease. ADDITIONAL ISSUER DOCUMENTS:
