Common use of Site Memorandum Clause in Contracts

Site Memorandum. 10.4.1 The Authority and the Concessionaire shall, on a mutually agreed date and time (but not later than the timeline specified below for the execution of the Site Memorandum), inspect the Site and prepare a memorandum containing an inventory of the Site including the vacant land, buildings, structures, road works, trees and any other immovable property on or attached to the Site (as applicable), free from any Encumbrance (“Site Memorandum”). The Authority and the Concessionaire shall execute the Site Memorandum in 2 (two) counterparts (each of which shall constitute an original) within 10 (ten) days of execution of Xxxxx Xxxx. In case of any disagreement between the Concessionaire and the Authority in relation to the survey and the inventory, the decision of the Authority shall prevail. 10.4.2 On and after execution of the Site Memorandum, and until the Transfer Date, the Concessionaire shall maintain a round-the-clock xxxxx over the Site and shall ensure and procure that no encroachment thereon takes place on the Site, and in the event of any encroachment or occupation on any part thereof, the Concessionaire shall report such encroachment or occupation forthwith to the Authority and undertake its removal at its own cost and expense.

Site Memorandum. 10.4.1 The Authority and the Concessionaire shall, on a mutually agreed date and time (but not later than the timeline specified below for the execution of the Site Memorandum), inspect the Site and prepare a memorandum containing an inventory of the Site including the vacant land, buildings, structures, road works, trees and any other immovable property on or attached to the Site (as applicable), free from any Encumbrance (“Site Memorandum”). The Authority and the Concessionaire shall execute the Site Memorandum in 2 (two) counterparts (each of which shall constitute an original) within 10 (ten) days of execution of Xxxxx Xxxx{Lease Deed}18. In case of any disagreement between the Concessionaire and the Authority in relation to the survey and the inventory, the decision of the Authority shall prevail. 10.4.2 On and after execution of the Site Memorandum, and until the Transfer Date, the Concessionaire shall maintain a round-the-clock xxxxx over the Site and shall ensure and procure that no encroachment thereon takes place on the Site, and in the event of any encroachment or occupation on any part thereof, the Concessionaire shall report such encroachment or occupation forthwith to the Authority and undertake its removal at its own cost and expense.