Common use of Shareholding in the SPV Clause in Contracts

Shareholding in the SPV. 6.1 The Parties agree that the proportion of shareholding among the Parties in the SPV shall be as follows: First Party: Second Party: {Third Party:} {Fourth Party:} 6.2 The Parties undertake that a minimum of 26% (twenty six per cent) of the subscribed and paid up equity share capital of the SPV shall, at all times till the second anniversary of the date of commercial operation of the Project, be held by the Parties of the First, Second, Third and Fourth Part whose experience and networth have been reckoned for the purposes of qualification and short-listing of Applicants for the Project in terms of the RFQ. 6.3 The Parties undertake that each of the Parties specified in Clause 6.2 above shall, at all times between the commercial operation date of the Project and the second anniversary thereof, hold subscribed and paid up equity share capital of SPV equivalent to at least 5% (five per cent) of the Total Project Cost. 6.4 The Parties undertake that they shall collectively hold at least 51% (fifty one per cent) of the subscribed and paid up equity share capital of the SPV at all times until the second anniversary of the commercial operation date of the Project. 6.5 The Parties undertake that they shall comply with all equity lock-in requirements set forth in the Development and Operation Agreement. 6.6 The Parties undertake that the O&M Member shall subscribe and hold at least 10% (ten per cent) of the subscribed and paid up equity shares in the SPV27 in terms of the Concession Agreement.]

Shareholding in the SPV. 6.1 The Parties agree that the proportion of shareholding among the Parties in the SPV shall be as follows: First Party: Second Party: {Third Party:} {Fourth Party:} 6.2 The Party of the First Part undertakes that it shall, during the Supply Period, hold a minimum of 51% (fifty one per cent) of the subscribed and paid up equity share capital of the SPV. The Parties further undertake that a minimum of 26% (twenty six per centpercent) of the subscribed and paid up equity share capital of the SPV shall, at all times till during the second anniversary of the date of commercial operation of the ProjectSupply Period, be held by the Parties Party of the First, Second, Third and Fourth Second Part whose experience and networth have been reckoned for the purposes of qualification and short-listing of Applicants the Applicant for the Project in terms of the RFQ. 6.3 The Parties undertake that each of the Parties specified in Clause 6.2 above shall, at all times between the commercial operation date of the Project and the second anniversary thereof, hold subscribed and paid up equity share capital of SPV equivalent to at least 5% (five per cent) of the Total Project Cost. 6.4 The Parties undertake that they shall shall, during the Supply Period, collectively hold at least 51100% (fifty one hundred per cent) of the subscribed and paid up equity share capital of the SPV at all times until the second anniversary of the commercial operation date of the ProjectSPV. 6.5 The Parties undertake that they shall comply with all equity lock-in requirements set forth in the Development and Operation Agreement. 6.6 The Parties undertake that the O&M Member shall subscribe and hold at least 10% (ten per cent) of the subscribed and paid up equity shares in the SPV27 in terms of the Concession Agreement.]

Shareholding in the SPV. 6.1 The Parties agree that the proportion of shareholding among the Parties in the SPV shall be as follows: First Party: Second Party: {Third Party:} {Fourth Party:} 6.2 The Parties undertake that a minimum of 26% (twenty six per cent) of the subscribed and paid up equity share capital of the SPV shall, at all times till the second anniversary of the date of commercial operation of the Project, be held by the Parties of the First, Second, Third {Second and Fourth Third} Part whose experience and networth have been reckoned for the purposes of qualification and short-listing of Applicants for the Project in terms of the RFQ. 6.3 The Parties undertake that each of the Parties specified in Clause 6.2 above shall, at all times between the commercial operation date of the Project and the second anniversary thereof, hold subscribed and paid up equity share capital of SPV equivalent to at least 5% (five per cent) of the Total Project Cost. 6.4 The Parties undertake that they shall collectively hold at least 51% (fifty one per cent) of the subscribed and paid up equity share capital of the SPV at all times until the second anniversary of the commercial operation date of the Project. 6.5 The Parties undertake that they shall comply with all equity lock-in requirements set forth in the Development and Operation Agreement. 6.6 The Parties undertake that the O&M Member shall subscribe and hold at least 10% (ten per cent) of the subscribed and paid up equity shares in the SPV27 in terms of the Concession Agreement.]

Shareholding in the SPV. 6.1 The Parties agree that the proportion of shareholding among the Parties in the SPV shall be as follows: First Party: Second Party: {Third Party:} {Fourth Party:} 6.2 The Party of the First Part undertakes that it shall, during the Supply Period, hold a minimum of 38% (thirty eight per cent) of the subscribed and paid up equity share capital of the SPV. The Parties further undertake that a minimum of 26% (twenty six per centpercent) of the subscribed and paid up equity share capital of the SPV shall, at all times till during the second anniversary of the date of commercial operation of the ProjectSupply Period, be held by the Parties Party of the First, Second, Third and Fourth Second Part whose experience and networth have been reckoned for the purposes of qualification and short-listing of Applicants the Applicant for the Project in terms of the RFQ. 6.3 The Parties undertake that each of the Parties specified in Clause 6.2 above shall, at all times between the commercial operation date of the Project and the second anniversary thereof, hold subscribed and paid up equity share capital of SPV equivalent to at least 5% (five per cent) of the Total Project Cost. 6.4 The Parties undertake that they shall shall, during the Supply Period, collectively hold at least 51% (fifty one per cent) of the subscribed and paid up equity share capital of the SPV at all times until the second anniversary of the commercial operation date of the ProjectSPV. 6.5 The Parties undertake that they shall comply with all equity lock-in requirements set forth in the Development and Operation Agreement. 6.6 The Parties undertake that the O&M Member shall subscribe and hold at least 10% (ten per cent) of the subscribed and paid up equity shares in the SPV27 in terms of the Concession Agreement.]