Common use of Reduction in costs Clause in Contracts

Reduction in costs. If as a result of Change in Law, the Concessionaire benefits from a reduction in costs or increase in net after-tax return or other financial gains, the aggregate financial effect of which exceeds the higher of Rs. 1 crore (Rupees one crore) in any Accounting Year, the Authority may so notify the Concessionaire and propose amendments to this Agreement so as to place the Concessionaire in the same financial position as it would have enjoyed had there been no such Change in Law resulting in the decreased costs, increase in return or other financial gains as aforesaid. Upon notice by the Authority, the Parties shall meet, as soon as reasonably practicable but no later than 30 (thirty) days from the date of notice, and either agree on such amendments to this Agreement or on any other mutually agreed arrangement: Provided that if no agreement is reached within 90 (ninety) days of the aforesaid notice, the Authority may by notice require the Concessionaire to pay an amount that would place the Concessionaire in the same financial position that it would have enjoyed had there been no such Change in Law, and within 15 (fifteen) days of receipt of such notice, along with particulars thereof, the Concessionaire shall pay the amount specified therein to the Authority; provided that if the Concessionaire shall dispute such claim of the Authority, the same shall be settled in accordance with the Dispute Resolution Procedure. For the avoidance of doubt, it is agreed that this Clause 37.2 shall be restricted to changes in law directly affecting the Concessionaire's costs of performing its obligations under this Agreement.

Reduction in costs. If as a result of Change in Law, the Concessionaire Supplier benefits from a reduction in costs or increase in net after-tax return or other financial gains, gains the aggregate financial effect of which exceeds the higher of Rs. 1 crore (Rupees one crore) and 0.1% (zero point one per cent) of the Capacity Charge in any Accounting Year, the Authority Utility may so notify the Concessionaire Supplier and propose amendments to this Agreement so as to place the Concessionaire Supplier in the same financial position as it would have enjoyed had there been no such Change in Law resulting in the decreased costs, increase in return or other financial gains as aforesaid. Upon notice by the AuthorityUtility, the Parties shall meet, as soon as reasonably practicable but no later than 30 (thirty) days from the date of notice, and either agree on such amendments to this Agreement or on any other mutually agreed arrangement: Provided that if no agreement is reached within 90 (ninety) days of the aforesaid notice, the Authority Utility may by notice require the Concessionaire Supplier to pay an amount that would place the Concessionaire Supplier in the same financial position that it would have enjoyed had there been no such Change in Law, and within 15 (fifteen) days of receipt of such notice, along with particulars thereof, the Concessionaire Supplier shall pay the amount specified therein to the AuthorityUtility; provided that if the Concessionaire Supplier shall dispute such claim of the Authority£This amount may, in the discretion of the Utility, be suitably increased, but in no case exceeding an amount of Rs 1 lakh for every MW of Contracted Capacity. A similar modification should also be made in Clause 21.2. Utility, the same shall be settled in accordance with the Dispute Resolution Procedure. For the avoidance of doubt, it is agreed that this Clause 37.2 21.2 shall be restricted to changes in law directly affecting the Concessionaire's Supplier’s costs of performing its obligations under this Agreement.

Reduction in costs. If as a result of Change in Law, the Concessionaire benefits from a reduction in costs or increase in net after-tax return or other financial gains, the aggregate financial effect of which exceeds the higher of Rs. 1 crore INR 1,00,00,000/- (Rupees one croreOne Crore only) in any Accounting Year, the Authority may so notify the Concessionaire and propose amendments to this Agreement so as to place the Concessionaire in the same financial position as it would have enjoyed had there been no such Change in Law resulting in the decreased costs, increase in return or other financial gains as aforesaid. Upon notice by the Authority, the Parties shall meet, as soon as reasonably practicable practicable, but no later than 30 (thirty) days from the date of notice, and either agree on such amendments to this Agreement or on any other mutually agreed arrangement: Provided that if no agreement is reached within 90 (ninety) days of the aforesaid notice, the Authority may by notice require the Concessionaire to pay an amount that would place the Concessionaire in the same financial position that it would have enjoyed had there been no such Change in Law, and within 15 (fifteen) days of receipt of such notice, along with particulars thereof, the Concessionaire shall pay the amount specified therein to the Authority; provided that if the Concessionaire shall dispute such claim of the Authority, the same shall be settled in accordance with the Dispute Resolution Procedure. For the avoidance of doubt, it is agreed that this Clause 37.2 shall be restricted to changes in law directly affecting the Concessionaire's costs of performing its obligations under this Agreement.

Reduction in costs. If as a result of Change in Law, the Concessionaire benefits from a reduction in costs or increase in net after-tax return or other financial gains, the aggregate financial effect of which exceeds the higher of Rs. 1 crore 12 lakh (Rupees one croretwelve lakh) in any Accounting Year, the Authority may so notify the Concessionaire and propose amendments to this Agreement so as to place the Concessionaire in the same financial position as it would have enjoyed had there been no such Change in Law resulting in the decreased costs, increase in return or other financial gains as aforesaid. Upon notice by the Authority, the Parties shall meet, as soon as reasonably practicable but no later than 30 (thirty) days from the date of notice, and either agree on such amendments to this Agreement or on any other mutually agreed arrangement: Provided that if no agreement is reached within 90 (ninety) days of the aforesaid notice, the Authority may by notice require the Concessionaire to pay an amount that would place the Concessionaire in the same financial position that it would have enjoyed had there been no such Change in Law, and within 15 (fifteen) days of receipt of such notice, along with particulars thereof, the Concessionaire shall pay the amount specified therein to the Authority; provided that if the Concessionaire shall dispute such claim of the Authority, the same shall be settled in accordance with the Dispute Resolution Procedure. For the avoidance of doubt, it is agreed that this Clause 37.2 5.6.2 shall be restricted to changes in law directly affecting the Concessionaire's ’s costs of performing its obligations under this Agreement.

Reduction in costs. If as a result of Change in LawLaw during the Construction Period, the Concessionaire benefits from a reduction in costs or increase in net after-tax return or other financial gains, the aggregate financial effect of which exceeds the higher of Rs. 1 crore (Rupees one crore) and 2% (two per cent) of the total Staggered Annuity Payments in any Accounting YearConcessionYear during the Construction Period, the Authority may so notify the Concessionaire and propose amendments to this Agreement so as to place the Concessionaire in the same financial position as it would have enjoyed had there been no such Change in Law resulting in the decreased costs, increase in return or other financial gains as aforesaid. Upon notice by the Authority, the Parties shall meet, as soon as reasonably practicable as but no later than 30 (thirty) days from the date of notice, notice and either agree on such amendments to this Agreement or on any other mutually agreed arrangement: Provided that if no agreement is reached within 90 (ninety) days of the aforesaid notice, the Authority may by notice require the Concessionaire to pay an amount that would place the Concessionaire in the same financial position that it would have enjoyed had there been no such Change in Law, and within 15 (fifteen) days of receipt of such notice, along with particulars thereof, the Concessionaire shall pay the amount specified therein to the Authority; provided that if the Concessionaire shall dispute such claim of the Authority, the same shall be settled in accordance with the Dispute Resolution Procedure. For the avoidance of doubt, it is agreed that this Clause 37.2 Article 35.2 shall be restricted only to changes in law directly affecting the Concessionaire's ’s costs of performing its obligations during the Construction Period under this Agreement.

Reduction in costs. If as a result of Change in Law, the Concessionaire Developer benefits from a reduction in costs or increase in net after-tax return or other financial gains, the aggregate financial effect of which exceeds the higher of Rs. 1 crore Rs.1 Crore (Rupees one croreOne Crore only) in any Accounting Year, the Authority SHDB may so notify the Concessionaire Developer and propose amendments to this Agreement so as to place the Concessionaire Developer in the same financial position as it would have enjoyed had there been no such Change in Law resulting in the decreased costs, increase in return or other financial gains as aforesaid. Upon notice by the AuthoritySHDB, the Parties shall meet, as soon as reasonably practicable as but no later than 30 (thirty) days from the date of notice, and either agree on such amendments to this Agreement or on any other mutually agreed arrangement: . Provided that if no agreement is reached within 90 (ninety) days of the aforesaid notice, the Authority SH&DB may by notice require the Concessionaire DEVELOPER to pay an amount that would place the Concessionaire DEVELOPER in the same financial position that it would have enjoyed had there been no such Change in Law, and within 15 (fifteen) days of receipt of such notice, along with particulars thereof, the Concessionaire DEVELOPER shall pay the amount specified therein to the AuthoritySH&DB; provided that if the Concessionaire DEVELOPER shall dispute such claim of the AuthoritySH&DB, the same shall be settled in accordance with the Dispute Resolution Procedure. For the avoidance of doubt, it is agreed that this Clause 37.2 32.2 shall be restricted to changes in law directly affecting the Concessionaire's DEVELOPER’s costs of performing its obligations under this AgreementAgreement during the Construction Period post COD.

Reduction in costs. If as a result of Change in Law, the Concessionaire Supplier benefits from a reduction in costs or increase in net after-tax return or other financial gains, gains the aggregate financial effect of which exceeds the higher of Rs. 1 crore (Rupees one crore) and 0.1% (zero point one per cent) of the Normative annual energy payment in any Accounting Year, the Authority Procurer may so notify the Concessionaire Supplier and propose amendments to this Agreement so as to place the Concessionaire Supplier in the same financial position as it would have enjoyed had there been no such Change in Law resulting in the decreased costs, increase in return or other financial gains as aforesaid. Upon notice by the AuthorityProcurer, the Parties shall meet, as soon as reasonably practicable but no later than 30 (thirty) days from the date of notice, and either agree on such amendments to this Agreement or on any other mutually agreed arrangement: Provided that if no agreement is reached within 90 (ninety) days of the aforesaid notice, the Authority Procurer may by notice require the Concessionaire Supplier to pay an amount that would place the Concessionaire Supplier in the same financial position that it would have enjoyed had there been no such Change in Law, and within 15 (fifteen) days of receipt of such notice, along with particulars thereof, the Concessionaire Supplier shall pay the amount specified therein to the AuthorityProcurer; provided that if the Concessionaire Supplier shall dispute such claim of the AuthorityProcurer, the same shall be settled in accordance with the Dispute Resolution Procedure. For the avoidance of doubt, it is agreed that this Clause 37.2 18.2 shall be restricted to changes in law directly affecting the Concessionaire's Supplier’s costs of performing its obligations under this Agreement. Provided that any change in transmission charges (POC Injection & Withdrawal charges), transmission losses (POC Injection & Withdrawal losses), Odisha STU Charges & Losses, RLDC/SLDC charges, application/concurrence charges or any other charges covered under Open Access Regulations notified by Central/Odisha Electricity Regulatory Commission (CERC/OERC) and the procedure for Open Access stipulated by the Central/State Transmission Utility (CTU/STU) shall not be covered under Article 18.

Reduction in costs. If as a result of Change in Law, the Concessionaire benefits from a reduction in costs or increase in net after-tax return or other financial gains, the aggregate financial effect of which exceeds the higher of Rs. 1 Rs ................ crore (Rupees one crore.................... ) or 2% (two per cent) of the total Annuity Payments in any Accounting Year, the Authority may so notify the Concessionaire and propose amendments to this Agreement so as to place the Concessionaire in the same financial position as it would have enjoyed had there been no such Change in Law resulting in the decreased costs, increase in return or other financial gains as aforesaid. Upon notice by the Authority, the Parties shall meet, as soon as reasonably practicable as but no later than 30 (thirty) days from the date of notice, notice and either agree on such amendments to this Agreement or on any other mutually agreed arrangement: Provided that if no agreement is reached within 90 (ninety) days of the aforesaid notice, the Authority may by notice require the Concessionaire to pay an amount that would place the Concessionaire in the same financial position that it would have enjoyed had there been no such Change in Law, and within 15 (fifteen) days of receipt of such notice, along with particulars thereof, the Concessionaire shall pay the amount specified therein to the Authority; provided that if the Concessionaire shall dispute such claim of the Authority, the same shall be settled in accordance with the Dispute Resolution Procedure. For the avoidance of doubt, it is agreed that this Clause 37.2 35.2 shall be restricted to changes in law directly affecting the Concessionaire's ’s costs of performing its obligations under this Agreement.

Reduction in costs. If as a result of Change in Law, the Concessionaire benefits from a reduction in costs or increase in net after-tax return or other financial gains, the aggregate financial effect of which exceeds the higher of Rs. 1 crore 50 Lakh (Rupees one croreFifty Lakh) in any Accounting Year, the and 0.5% (zero point five Concessioning Authority may so notify the Concessionaire and propose amendments to this Agreement so as to place the Concessionaire in the same financial position as it would have enjoyed had there been no such Change in Law resulting in the decreased costs, increase in return or other financial gains as aforesaid. Upon notice by the Concessioning Authority, the Parties shall meet, as soon as reasonably practicable but no later than 30 (thirty) days from the date of notice, and either agree on such amendments to this Agreement or on any other mutually agreed arrangement: Provided that if no agreement is reached within 90 (ninety) days of the aforesaid notice, the Concessioning Authority may by notice require the Concessionaire to pay an amount that would place the Concessionaire in the same financial position that it would have enjoyed had there been no such Change in Law, and within 15 (fifteen) days of receipt of such notice, along with particulars thereof, the Concessionaire shall pay the amount specified therein to the Concessioning Authority; provided that if the Concessionaire shall dispute such claim of the Concessioning Authority, the same shall be settled in accordance with the Dispute Resolution Procedure. For the avoidance of doubt, it is agreed that this Clause 37.2 35.2 shall be restricted to changes in law directly affecting the Concessionaire's costs of performing its obligations under this Agreement.

Reduction in costs. If as a result of Change in Law, the Concessionaire benefits from a reduction in costs or increase in net after-tax return or other financial gains, the aggregate financial effect of which exceeds the higher of Rs. 1 crore 5 lakh (Rupees one crore) in five lakh)in any Accounting Year, the Authority may so notify the Concessionaire and propose amendments to this Agreement so as to place the Concessionaire in the same financial position as it would have enjoyed had there been no such Change in Law resulting in the decreased costs, increase in return or other financial gains as aforesaid. Upon notice by the Authority, the Parties shall meet, as soon as reasonably practicable but no later than 30 (thirty) days from the date of notice, and either agree on such amendments to this Agreement or on any other mutually agreed arrangement: . Provided that if no agreement is reached within 90 (ninety) days of the aforesaid notice, the Authority may by notice require the Concessionaire to pay an amount that would place the Concessionaire in the same financial position that it would have enjoyed had there been no such Change in Law, and within 15 (fifteen) days of receipt of such notice, along with particulars thereof, the Concessionaire shall pay the amount specified therein to there into the Authority; provided that if the Concessionaire shall dispute such claim of the Authority, the same shall be settled in accordance with the Dispute Resolution Procedure. For the avoidance of doubt, it is agreed that this Clause 37.2 5.6.2 shall be restricted to changes in law directly affecting the Concessionaire's ’s costs of performing its obligations under this Agreement.

Reduction in costs. If as a result of Change in Law, the Concessionaire Supplier benefits from a reduction in costs or increase in net after-tax return or other financial gains, gains the aggregate financial effect of which exceeds the higher of Rs. 1 crore (Rupees one crore) and 0.1% (zero point one per cent) of the Capacity Charge in any Accounting Year, the Authority Utility may so notify the Concessionaire Supplier and propose amendments to this Agreement so as to place the Concessionaire Supplier in the same financial position as it would have enjoyed had there been no such Change in Law resulting in the decreased costs, increase in return or other financial gains as aforesaid. Upon notice by the AuthorityUtility, the Parties shall meet, as soon as reasonably practicable but no later than 30 (thirty) days from the date of notice, and either agree on such amendments to this Agreement or on any other mutually agreed arrangement: Provided that if no agreement is reached within 90 (ninety) days of the aforesaid notice, the Authority Utility may by notice require the Concessionaire Supplier to pay an amount that would place the Concessionaire Supplier in the same financial position that it would have enjoyed had there been no such Change in Law, and within 15 (fifteen) days of receipt of such notice, along with particulars thereof, the Concessionaire Supplier shall pay the amount specified therein to the AuthorityUtility; provided that if the Concessionaire Supplier shall dispute such claim of the Authority38 This amount may, in the discretion of the Utility, be suitably increased, but in no case exceeding an amount of Rs 1 lakh for every MW of Contracted Capacity. A similar modification should also be made in Clause 21.2. Utility, the same shall be settled in accordance with the Dispute Resolution Procedure. For the avoidance of doubt, it is agreed that this Clause 37.2 21.2 shall be restricted to changes in law directly affecting the Concessionaire's Supplier‟s costs of performing its obligations under this Agreement.

Reduction in costs. If as a result of Change in Law, the Concessionaire benefits from a reduction in costs or increase in net after-tax return or other financial gains, gains the aggregate financial effect of which exceeds the higher of Rs. 1 crore (Rupees one crore) and 0.1% (zero point one per cent) of the Capacity Charge in any Accounting Year, the Authority MCGM may so notify the Concessionaire and propose amendments to this Agreement so as to place the Concessionaire in the same financial position as it would have enjoyed had there been no such Change in Law resulting in the decreased costs, increase in return or other financial gains as aforesaid. Upon notice by the AuthorityMCGM, the Parties shall meet, as soon as reasonably practicable as but no later than 30 (thirty) days from the date of notice, notice and either agree on such amendments to this Agreement or on any other mutually agreed arrangement: Provided that if no agreement is reached within 90 (ninety) days of the aforesaid notice, the Authority MCGM may by notice require the Concessionaire to pay an amount that would place the Concessionaire in the same financial position that it would have enjoyed had there been no such Change in Law, and within 15 (fifteen) days of receipt of such notice, along with particulars thereof, the Concessionaire shall pay the amount specified therein to the AuthorityMCGM; provided that if the Concessionaire shall dispute such claim of the AuthorityMCGM, the same shall be settled in accordance with the Dispute Resolution Procedure. For the avoidance of doubt, it is agreed that this Clause 37.2 21.2 shall be restricted to changes in law directly affecting the Concessionaire's ’s costs of performing its obligations under this Agreement.

Reduction in costs. If as a result of Change in Law, the Concessionaire benefits from a reduction in costs or increase in net after-after –tax return or other financial gains, the aggregate financial effect of which exceeds the higher of Rs. Rs 1 crore (Rupees one crore) and 0.5% (zero point five percent) of the Realisable Fee in any Accounting Year, the Authority MPRDC may so notify the Concessionaire and propose amendments to this Agreement so as to place the Concessionaire in the same financial position as it would have enjoyed had there been no such Change in Law resulting in the decreased costs, increase in return or other financial gains as aforesaidaforesaid . Upon notice by the AuthorityMPRDC, the Parties shall meet, as soon as reasonably practicable but no later than 30 (thirty) days from the date of notice, notice and either agree on such amendments to this Agreement or on any other mutually agreed arrangement: Provided that if no agreement is reached within 90 (ninety90(ninety) days of the aforesaid notice, the Authority MPRDC may by notice require the Concessionaire to pay an amount that would place the Concessionaire in the same financial position that it would have enjoyed had there been no such Change in Law, and within 15 (fifteen) days of the receipt of such notice, along with particulars thereofthereof , the Concessionaire shall pay the amount specified therein to the Authority; MPRDC, provided that if the Concessionaire shall dispute such claim of to the AuthorityMPRDC, the same shall be settled in accordance with the Dispute Resolution Procedure. For the avoidance of doubt, it is agreed that this Clause 37.2 41.2 shall be restricted to changes change in law directly affecting the Concessionaire's ’s costs of performing its obligations under this Agreement.

Reduction in costs. If as a result of Change in Law, the Concessionaire Supplier benefits from a reduction in costs or increase in net after-tax return or other financial gains, gains the aggregate financial effect of which exceeds the higher of Rs. 1 crore (Rupees one crore) and 0.1% (zero point one per cent) of the Capacity Charge in any Accounting Year, the Authority Utility may so notify the Concessionaire Supplier and propose amendments to this Agreement so as to place the Concessionaire Supplier in the same financial position as it would have enjoyed had there been no such Change in Law resulting in the decreased costs, increase in return or other financial gains as aforesaid. Upon notice by the AuthorityUtility, the Parties shall meet, as soon as reasonably practicable but no later than 30 (thirty) days from the date of notice, and either agree on such amendments to this Agreement or on any other mutually agreed arrangement: Provided that if no agreement is reached within 90 (ninety) days of the aforesaid notice, the Authority Utility may by notice require the Concessionaire Supplier to pay an amount that would place the Concessionaire Supplier in the same financial position that it would have enjoyed had there been no such Change in Law, and within 15 (fifteen) days of receipt of such notice, along with particulars thereof, the Concessionaire Supplier shall pay the amount specified therein to the AuthorityUtility; provided that if the Concessionaire Supplier shall dispute such claim of the AuthorityUtility, the same shall be settled in accordance with the Dispute Resolution Procedure. For the avoidance of doubt, it is agreed that this Clause 37.2 21.2 shall be restricted to changes in law directly affecting the Concessionaire's Supplier’s costs of performing its obligations under this Agreement.

Reduction in costs. If as a result of Change in Law, the Concessionaire benefits from a reduction in costs or increase in net after-tax return or other financial gains, the aggregate financial effect of which exceeds the higher of Rs. 1 crore (Rupees one crore) and 0.5% (zero point five per cent) of the Realisable Fee in any Accounting Year, the Authority may so notify the Concessionaire and propose amendments to this Agreement so as to place the Concessionaire in the same financial position as it would have enjoyed had there been no such Change in Law resulting in the decreased costs, increase in return or other financial gains as aforesaid. Upon notice by the Authority, the Parties shall meet, as soon as reasonably practicable but practicablebut no later than 30 (thirty) days from the date of notice, and either agree on such amendments to this Agreement or on any other mutually agreed arrangement: Provided that if no agreement is reached within 90 (ninety) days of the aforesaid notice, the Authority may by notice require the Concessionaire to pay an amount that would place the Concessionaire in the same financial position that it would have enjoyed had there been no such Change in Law, and within 15 (fifteen) days of receipt of such notice, along with particulars thereof, the Concessionaire shall pay the amount specified therein to the Authority; provided that if the Concessionaire shall dispute such claim of the Authority, the same shall be settled in accordance with the Dispute Resolution Procedure. For the avoidance of doubt, it is agreed that this Clause 37.2 42.2 shall be restricted to changes in law directly affecting the Concessionaire's Concessionaire‟s costs of performing its obligations under this Agreement.

Reduction in costs. If as a result of Change in Law, the Concessionaire Supplier benefits from a reduction in costs or increase in net after-tax return or other financial gains, gains the aggregate financial effect of which exceeds the higher of Rs. 1 crore (Rupees one crore) and 0.1% (zero point one per cent) of the Capacity Charge in any Accounting Year, the Authority Utility may so notify the Concessionaire Supplier and propose amendments to this Agreement so as to place the Concessionaire Supplier in the same financial position as it would have enjoyed had there been no such Change in Law resulting in the decreased costs, increase in return or other financial gains as aforesaid. Upon notice by the AuthorityUtility, the Parties shall meet, as soon as reasonably practicable but no later than 30 (thirty) days from the date of notice, and either agree on such amendments to this Agreement or on any other mutually agreed arrangement: Provided that if no agreement is reached within 90 (ninety) days of the aforesaid notice, the Authority Utility may by notice require the Concessionaire Supplier to pay an amount that would place the Concessionaire Supplier in the same financial position that it would have enjoyed had there been no such Change in Law, and within 15 (fifteen) days of receipt of such notice, along with particulars thereof, the Concessionaire Supplier shall pay the amount specified therein to the AuthorityUtility; provided that if the Concessionaire Supplier shall dispute such claim of the Authority£This amount may, in the discretion of the Utility, be suitably increased, but in no case exceeding an amount of Rs 1 lakh for every MW of Contracted Capacity. A similar modification should also be made in Clause 21.2. Utility, the same shall be settled in accordance with the Dispute Resolution Procedure. For the avoidance of doubt, it is agreed that this Clause 37.2 21.2 shall be restricted to changes in law directly affecting the Concessionaire's Supplier‟s costs of performing its obligations under this Agreement.

Reduction in costs. If as a result of Change in Law, the Concessionaire benefits from a reduction in costs or increase in net after-tax return or other financial gains, the aggregate financial effect of which exceeds the higher of Rs. 1 crore (Rupees one crore) in any Accounting Year, the Authority may so notify the Concessionaire and propose amendments to this Agreement so as to place the Concessionaire in the same financial position as it would have enjoyed had there been no such Change in Law resulting in the decreased costs, increase in return or other financial gains as aforesaid. Upon notice by the Authority, the Parties shall meet, as soon as reasonably practicable but no later than 30 (thirty) days from the date of notice, and either agree on such amendments to this Agreement or on any other mutually agreed arrangement: Provided that if no agreement is reached within 90 (ninety) days of the aforesaid notice, the Authority may by notice require the Concessionaire to pay an amount that would place the Concessionaire in the same financial position that it would have enjoyed had there been no such Change in Law, and within 15 (fifteen) days of receipt of such notice, along with particulars thereof, the Concessionaire shall pay the amount specified therein to the Authority; provided that if the Concessionaire shall dispute such claim of the Authority, the same shall be settled in accordance with the Dispute Resolution Procedure. For the avoidance of doubt, it is agreed that this Clause 37.2 43.2 shall be restricted to changes in law directly affecting the Concessionaire's ’s costs of performing its obligations under this Agreement.

Reduction in costs. If as a result of Change in Law, the Concessionaire benefits from a reduction in costs or increase in net after-tax return or other financial gains, gains the aggregate financial effect of which exceeds the higher of Rs. 1 crore (Rupees One Crore) and 0.1% (zero point one croreper cent) of the yearly payment in any Accounting Year, the Authority NMMC may so notify the Concessionaire and propose amendments to this Agreement so as to place the Concessionaire in the same financial position as it would have enjoyed had there been no such Change in Law resulting in the decreased costs, increase in return or other financial gains as aforesaid. Upon notice by the AuthorityNMMC, the Parties shall meet, as soon as reasonably practicable as but no later than 30 (thirty) days from the date of notice, notice and either agree on such amendments to this Agreement or on any other mutually agreed arrangement: Provided that if no agreement is reached within 90 (ninety) days of the aforesaid notice, the Authority NMMC may by notice require the Concessionaire to pay an amount that would place the Concessionaire in the same financial position that it would have enjoyed had there been no such Change in Law, and within 15 (fifteen) days of receipt of such notice, along with particulars thereof, the Concessionaire shall pay the amount specified therein to the AuthorityNMMC; provided that if the Concessionaire shall dispute such claim of the AuthorityNMMC, the same shall be settled in accordance with the Dispute Resolution Procedure. For the avoidance of doubt, it is agreed that this Clause 37.2 Article 20.2 shall be restricted to changes in law directly affecting the Concessionaire's ’s costs of performing its obligations under this Agreement.

Reduction in costs. If as a result of Change in Law, the Concessionaire benefits from a reduction in costs or increase in net after-tax return or other financial gains, the aggregate financial effect of which exceeds the higher of Rs. 1 crore ` 40.00 lacs (Rupees one croreforty lacs) and 0.5% (zero point five per cent) of the Realisable Fee in any Accounting Year, the Authority MPRDC may so notify the Concessionaire and propose amendments to this Agreement so as to place the Concessionaire in the same financial position as it would have enjoyed had there been no such Change in Law resulting in the decreased costs, increase in return or other financial gains as aforesaid. Upon notice by the AuthorityMPRDC, the Parties shall meet, as soon as reasonably practicable but no later than 30 (thirty) days from the date of notice, and either agree on such amendments to this Agreement or on any other mutually agreed arrangement: Provided that if no agreement is reached within 90 (ninety) days of the aforesaid notice, the Authority MPRDC may by notice require the Concessionaire to pay an amount that would place the Concessionaire in the same financial position that it would have enjoyed had there been no such Change in Law, and within 15 (fifteen) days of receipt of such notice, along with particulars thereof, the Concessionaire shall pay the amount specified therein to the AuthorityMPRDC; provided that if the Concessionaire shall dispute such claim of the AuthorityMPRDC , the same shall be settled in accordance with the Dispute Resolution Procedure. For the avoidance of doubt, it is agreed that this Clause 37.2 41.2 shall be restricted to changes in law directly affecting the Concessionaire's ’s costs of performing its obligations under this Agreement.

Reduction in costs. If as a result of Change in Law, the Concessionaire benefits from a reduction in costs or increase in net after-tax return or other financial gains, the aggregate financial effect of which exceeds the higher of Rs. 1 crore 50 Lakh (Rupees one croreFifty Lakh) and 0.5% (zero point five percent) of the revenue being collected by the Concessionaire in any Accounting Year, the Concessioning Authority may so notify the Concessionaire and propose amendments to this Agreement so as to place the Concessionaire in the same financial position as it would have enjoyed had there been no such Change in Law resulting in the decreased costs, increase in return or other financial gains as aforesaid. Upon notice by the Concessioning Authority, the Parties shall meet, as soon as reasonably practicable but no later than 30 (thirty) days from the date of notice, and either agree on such amendments to this Agreement or on any other mutually agreed arrangement: Provided that if no agreement is reached within 90 (ninety) days of the aforesaid notice, the Concessioning Authority may by notice require the Concessionaire to pay an amount that would place the Concessionaire in the same financial position that it would have enjoyed had there been no such Change in Law, and within 15 (fifteen) days of receipt of such notice, along with particulars thereof, the Concessionaire shall pay the amount specified therein to the Concessioning Authority; provided that if the Concessionaire shall dispute such claim of the Concessioning Authority, the same shall be settled in accordance with the Dispute Resolution Procedure. For the avoidance of doubt, it is agreed that this Clause 37.2 41.2 shall be restricted to changes in law directly affecting the Concessionaire's costs of performing its obligations under this Agreement.