Common use of Substitution upon occurrence of Concessionaire Default Clause in Contracts

Substitution upon occurrence of Concessionaire Default. Upon occurrence of a Concessionaire Default, the Authority shall by a notice inform the Lenders' Representative of its intention to issue a Termination Notice and grant 15 (fifteen) days time to the Lenders' Representative to make a representation, stating the intention to substitute the Concessionaire by a Nominated Company.

Substitution upon occurrence of Concessionaire Default. Upon occurrence of a Concessionaire Default, the Authority shall by a notice inform the Lenders' ’ Representative of its intention to issue a Termination Notice and grant 15 (fifteen) days time to the Lenders' ’ Representative to make a representation, stating the intention to substitute the Concessionaire by a Nominated Company.a

Substitution upon occurrence of Concessionaire Default. Upon occurrence of a Concessionaire Default, the Concessioning Authority shall by a notice inform the Lenders' /Xxxxxxx’ Representative of its intention to issue a Termination Notice and grant 15 (fifteen) days Days time to the Lenders' /Xxxxxxx’ Representative to make a representation, stating the intention to substitute the Concessionaire by a Nominated CompanySelectee.