Common use of Rights of DTIDCL on Termination Clause in Contracts

Rights of DTIDCL on Termination. (a) Upon Termination of this Agreement for any reason whatsoever, Delhi Transport Infrastructure Development Corporation Limited shall upon making the Termination Payment, if any, to the Concessionaire have the power and authority to: (i) enter upon and take possession and control of the Project Site(s) and Project Facilities; (ii) prohibit the Concessionaire and any person claiming through or under the Concessionaire from entering upon/ dealing with the Project asset; (iii) substitute the Concessionaire for completion of the remaining Project Facilities with/ without inviting fresh bids for the Project; (iv) enter into a Concession Agreement with any Person on such terms and conditions as it may deem fit. (b) Notwithstanding anything contained in this Agreement, Delhi Transport Infrastructure Development Corporation Limited shall not, as a consequence of Termination or otherwise, have any obligation whatsoever including but not limited to obligations as to compensation for loss of employment, continuance or regularisation of employment, absorption or re-employment on any ground, in relation to any person in the employment of or engaged by the Concessionaire in connection with the Project, and the hand back of the Project Facility by the Concessionaire to Delhi Transport Infrastructure Development Corporation Limited shall be free from any such obligation.

Rights of DTIDCL on Termination. (a) Upon Termination of this Agreement for any reason whatsoever, Delhi Transport Infrastructure Development Corporation Company Limited shall upon making the Termination Payment, if any, to the Concessionaire have the power and authority to: (i) enter upon and take possession and control of the Project Site(s) and Project Facilities; (ii) prohibit the Concessionaire and any person claiming through or under the Concessionaire from entering upon/ dealing with the Project asset; (iii) substitute the Concessionaire for completion of the remaining Project Facilities with/ without inviting fresh bids for the Project; (iv) enter into a Concession Agreement with any Person on such terms and conditions as it may deem fit. (b) Notwithstanding anything contained in this Agreement, Delhi Transport Infrastructure Development Corporation Company Limited shall not, as a consequence of Termination or otherwise, have any obligation whatsoever including but not limited to obligations as to compensation for loss of employment, continuance or regularisation of employment, absorption or re-employment on any ground, in relation to any person in the employment of or engaged by the Concessionaire in connection with the Project, and the hand back of the Project Facility by the Concessionaire to Delhi Transport Infrastructure Development Corporation Company Limited shall be free from any such obligation.