Suspension upon Concessionaire Default. Upon occurrence of a Concessionaire Default, the Authority shall be entitled, without prejudice to its other rights and remedies under this Agreement including its rights of Termination hereunder, to (i) suspend all rights of the Concessionaire under this Agreement including the Concessionaire's right to collect User Charges, and other revenues pursuant hereto, and (ii) exercise such rights itself and perform the obligations hereunder or authorize any other person to exercise or perform the same on its behalf during such suspension (the "Suspension"). Suspension hereunder shall be effective forthwith upon issue of notice by the Authority to the Concessionaire and may extend up to a period not exceeding 180 (one hundred and eighty) days from the date of issue of such notice.
Appears in 3 contracts
Samples: Escrow Agreement, Draft Concession Agreement, Escrow Agreement
Suspension upon Concessionaire Default. Upon occurrence of a Concessionaire Default, the Authority shall be entitled, without prejudice to its other rights and remedies under this Agreement including its rights of Termination hereunder, to (i) suspend all rights of the Concessionaire under this Agreement including the Concessionaire's right to collect User ChargesAgreement, and other revenues pursuant hereto, and (ii) exercise such rights itself and perform the obligations hereunder or authorize any other person to exercise or perform the same on its behalf during such suspension (the "Suspension"). Suspension hereunder shall be effective forthwith upon issue of notice by the Authority to the Concessionaire and may extend up to a period not exceeding 180 (one hundred and eighty) days from the date of issue of such notice.
Appears in 1 contract
Samples: Escrow Agreement
Suspension upon Concessionaire Default. 28.1.1 Upon occurrence of a Concessionaire Default, the Authority shall be entitled, without prejudice to its other rights and remedies under this Agreement including its rights of Termination hereunder, to (i) suspend all rights of the Concessionaire under this Agreement including the Concessionaire's right to collect User Charges, and other revenues pursuant heretoAgreement, and (ii) exercise such rights itself and perform the obligations hereunder or authorize authorise any other person to exercise or perform the same on its behalf during such suspension (the "“Suspension"”). Suspension hereunder shall be effective forthwith upon issue of notice by the Authority to the Concessionaire and may extend up to a period not exceeding 180 (one hundred and eighty) days from the date of issue of such notice; provided that upon written request from the Concessionaire, the Authority shall extend the aforesaid period of 180 (one hundred and eighty) days by a further period not exceeding 90 (ninety) days.
Appears in 1 contract
Samples: Concession Agreement
Suspension upon Concessionaire Default. Upon occurrence of a Concessionaire Default, the Authority ACTSL shall be entitled, without prejudice to its other rights and remedies under this Agreement including its rights of Termination hereunder, to (i) suspend all rights of the Concessionaire under this Agreement including the Concessionaire's ’s right to collect User Chargescollect, and other all revenues pursuant hereto, and (ii) exercise such rights itself and perform the obligations hereunder or authorize authorise any other person to exercise or perform the same on its behalf during such suspension (the "“ Suspension"”). Suspension hereunder shall be effective forthwith upon issue of notice by the Authority ACTSL to the Concessionaire and may extend up to a period not exceeding 180 (one hundred and eighty) days from the date of issue of such notice.
Appears in 1 contract
Samples: Concession Agreement