Common use of Right of First Refusal for Additional Period Clause in Contracts

Right of First Refusal for Additional Period. Subject to and in accordance with provisions of this Agreement, and upon completion of the Concession Period by efflux of time, the Authority shall, in the event it determines to undertake the continued management, operation and maintenance of the Project Facilities through PPP structure, and subject to the Concessionaire observing all the terms and conditions under the Concession Agreement as well as the Land Lease Agreement and not committing any breach thereof, provide the Concessionaire with the right to match and accept the price and terms of the highest bid that is obtained by the Authority through a competitive bidding process for a fresh term of Concession of additional period of 33 Years, (“Right of First Refusal”). If the Concessionaire matches and accepts the price and terms of the highest bid of the prospective Selected Bidder, then it shall be awarded the Concession for an additional period and if it fails to do so, then the said Concession would be awarded to the prospective Selected Bidder, who would compensate the outgoing Concessionaire as per the prevailing valuation for the property as per the books of accounts as on the date, provided that the Authority shall commence the said bidding process at least 6 (six) months prior to the expiry of the Concession Period & culminate the same prior to such expiry of the Concession Period.

Right of First Refusal for Additional Period. Subject to and in accordance with provisions of this Agreement, and upon completion of the Concession Period by efflux of time, the Authority shall, in the event it determines to undertake the continued management, operation and maintenance of the Project Facilities through PPP structure, and subject andsubject to the Concessionaire observing all the terms and conditions under the Concession Agreement as well as the Land Lease Agreement Deed and not committing any breach thereof, provide the Concessionaire with the right to match and accept the price and terms of the highest bid / prospective preferred bidder(subject to the Concessionaire participating in such bidding process with its bid falling within 10% variation with the successful bid), that is obtained by the Authority through a competitive bidding process for a fresh term of Concession of additional period of 33 Yearsperiod, (“Right of First Refusal”). If the Concessionaire matches and accepts the price and terms of the highest bid of the / prospective Selected Bidderpreferred bidder, then it shall be awarded the Concession for an additional period and if it fails to do so, then the said Concession would be awarded to the prospective Selected Bidder, who would compensate the outgoing Concessionaire as per the prevailing valuation for the property as per the books of accounts as on the date, provided preferred bidder. Provided that the Authority shall commence the said bidding process at least 6 (six) months Months prior to the expiry of the Concession Period & culminate the same prior to such expiry of the Concession Period.

Right of First Refusal for Additional Period. Subject to and in accordance with provisions of this Agreement, and upon completion of the Concession Period by efflux of time, the Authority shall, in the event it determines to undertake the continued management, operation and maintenance of the Project Facilities through PPP structure, and subject andsubject to the Concessionaire observing all the terms and conditions under the Concession Agreement as well as the Land Lease Agreement and not committing any breach thereof, provide the Concessionaire with the right to match and accept the price and terms of the highest bid / prospective preferred bidder(subject to the Concessionaire participating in such bidding process with its bid falling within 10% variation with the successful bid), that is obtained by the Authority through a competitive bidding process for a fresh term of Concession of additional period of 33 Yearsperiod, (“Right of First Refusal”). If the Concessionaire matches and accepts the price and terms of the highest bid of the / prospective Selected Bidderpreferred bidder, then it shall be awarded the Concession for an additional period and if it fails to do so, then the said Concession would be awarded to the prospective Selected Bidder, who would compensate the outgoing Concessionaire as per the prevailing valuation for the property as per the books of accounts as on the date, provided preferred bidder. Provided that the Authority shall commence the said bidding process at least 6 (sixSix) months Months prior to the expiry of the Concession Period & culminate the same prior to such expiry of the Concession Period.

Right of First Refusal for Additional Period. Subject to and in accordance with provisions of this Agreement, and upon completion of the Concession Period by efflux of time, the Authority shall, in the event it determines to undertake the continued management, operation and maintenance of the Project Facilities through PPP structure, and subject to the Concessionaire observing all the terms and conditions under the Concession Agreement as well as the Land Lease Agreement and not committing any breach thereof, provide the Concessionaire with the right to match and accept the price and terms of the highest bid that is obtained by the Authority through a competitive bidding process for a fresh term of Concession of additional period of 33 Yearsperiod, (“Right of First Refusal”). If the Concessionaire matches and accepts the price and terms of the highest bid of the prospective Selected Bidder, then it shall be awarded the Concession for an additional period and if it fails to do so, then the said Concession would be awarded to the prospective Selected Bidder, who would compensate the outgoing Concessionaire as per the prevailing valuation for the property as per the books of accounts as on the date, provided that the Authority shall commence the said bidding process at least 6 (six) months prior to the expiry of the Concession Period & culminate the same prior to such expiry of the Concession Period.

Right of First Refusal for Additional Period. Subject to and in accordance with provisions of this Agreement, and upon completion of the Concession Period by efflux of time, the Authority shall, in the event it determines to undertake the continued management, operation and maintenance of the Project Facilities through PPP structure, and subject to the Concessionaire observing all the terms and conditions under the Concession Agreement as well as the Land Lease Agreement and not committing any breach thereof, provide the Concessionaire with the right to match and accept the price and terms of the highest bid / prospective preferred bidder (subject to the Concessionaire participating in such bidding process with its bid falling within 10% variation with the successful bid), that is obtained by the Authority through a competitive bidding process for a fresh term of Concession of additional period of 33 Yearsperiod, (“Right of First Refusal”). If the Concessionaire matches and accepts the price and terms of the highest bid of the / prospective Selected Bidderpreferred bidder, then it shall be awarded the Concession for an additional period and if it fails to do so, then the said Concession would be awarded to the prospective Selected Bidder, who would compensate the outgoing Concessionaire as per the prevailing valuation for the property as per the books of accounts as on the date, provided preferred bidder. Provided that the Authority shall commence the said bidding process at least 6 (sixSix) months Months prior to the expiry of the Concession Period & culminate the same prior to such expiry of the Concession Period.