Term of Concession Sample Clauses

Term of Concession. This Agreement shall take effect on the Effective Date, and shall remain in effect until the earliest of (a) thirty-five (35) years after the Baseline Substantial Completion Date, (b) thirty- five (35) years after the Substantial Completion Date, or (c) the termination of this Agreement as provided herein (the “Term”); provided that IFA may extend the Term as provided in Section 15.4.2(e).

Term of Concession. 2.2.1 This Agreement shall take effect on the Effective Date, and shall remain in effect until expiration of the Lease or earlier termination of this Agreement and (if in effect) the Lease (the “Term”). The term of the Lease shall commence upon the Operating Commencement Date that first occurs, and shall continue until the date that is 52 years after the Effective Date; provided that the Lease shall be subject to earlier termination in accordance with the terms of this Agreement and the Lease shall be subject to extension under Section 13.1.4. 2.2.2 TxDOT and Xxxxxxxxx acknowledge their mutual intent that, despite TxDOT’s retention of fee title to the Project and the Project Right of Way and despite Xxxxxxxxx’s leasehold estate and interest therein, Developer be treated, to the maximum extent permitted by Law, as the owner of the Project for federal income tax purposes. TxDOT will not file any documentation with the U.S. government inconsistent with this intention. (This provision is not intended to have any bearing on ownership status under Environmental Laws regarding Hazardous Materials.) 2.2.3 The Parties acknowledge that Developer’s rights and obligations to finance and pay for development of the Project, manage, operate, maintain and repair the Project, toll the Managed Lanes and perform Renewal Work and Upgrades commence on the Effective Date notwithstanding the later commencement of the Lease, subject to, among other conditions, issuance of NTP1, NTP2 and, if applicable, NTP3 and satisfaction of the conditions precedent to Service Commencement set forth in this Agreement.

Term of Concession. This Agreement shall take effect on the Effective Date and shall remain in effect until expiration or termination of the Lease, unless earlier terminated in accordance with the terms of this Agreement (the “Term”).

Term of Concession. 2.2.1 This Agreement shall take effect on the Effective Date, and shall remain in effect until expiration of the Lease or earlier termination of this Agreement and (if in effect) the Lease (the “Term”). The term of the Lease shall commence upon the Operating Commencement Date and shall continue until the date that is 52 years after the Effective Date, provided that the Lease shall be subject to earlier termination in accordance with the terms of this Agreement and the Lease shall be subject to extension under Section 13.1.4. 2.2.2 TxDOT and Xxxxxxxxx acknowledge their mutual intent that, despite TxDOT’s retention of fee title to the Facility and the Facility Right of Way and despite Xxxxxxxxx’s 2.2.3 The Parties acknowledge that Xxxxxxxxx’s rights and obligations to finance and pay for development of the Facility, manage, operate, maintain and repair the Facility, toll the Managed Lanes and perform Renewal Work and Upgrades commence on the Effective Date notwithstanding the later commencement of the Lease, subject to, among other conditions, issuance of NTP1 and NTP2 and satisfaction of the conditions precedent to Service Commencement set forth in this Agreement.

Term of Concession. It is the term indicated in Clause 6.1 of this CONTRACT.

Term of Concession. Unless the CONCESSION is terminated early or extended in accordance with the provisions of this CONTRACT, the term for which the CONCESSION is granted is twenty (20) years, counted as of the CLOSING DATE.

Term of Concession. 2.2.1 This Agreement shall take effect on the Effective Date, and shall remain in effect until expiration of the Lease or earlier termination of this Agreement and (if in effect) the Lease (the “Term”). The term of the Lease shall commence upon the Operating Commencement Date that first occurs and shall continue until the date that is 52 years after the Effective Date; provided that the Lease shall be subject to earlier termination in accordance with the terms of this Agreement and the Lease shall be subject to extension under Section 13.1.4. 2.2.2 [TxDOT and Developer acknowledge their mutual intent that, despite TxDOT’s retention of fee title to the Facility and the Facility Right of Way and despite Developer’s leasehold estate and interest therein, Developer be treated, to the maximum extent permitted by Law, as the owner of the Facility for federal income tax purposes. TxDOT will not file any documentation with the U.S. government inconsistent with this intention. (This provision is not intended to have any bearing on ownership status under Environmental Laws regarding Hazardous Materials.)][executed version to include this Section 2.2.2 at the Developer’s option] 2.2.3 The Parties acknowledge that Developer’s rights and obligations to finance and pay for development of the Facility, manage, operate, maintain and repair the Facility, toll the Managed Lanes and perform Renewal Work and Upgrades commence on the Effective Date notwithstanding the later commencement of the Lease, subject to, among other conditions, issuance of NTP1, NTP2, and, if applicable, NTP GP, NTP IC, and NTP ML and satisfaction of the conditions precedent to Service Commencement set forth in this Agreement.

Term of Concession. The Concession is granted to Corporation for the Term (as defined in the Definition) and shall terminate upon the expiry of the Term, the renewal option (if not exercised by Corporation), or upon earlier Termination of this Agreement.

Term of Concession. ‌ 2.2.1 This Agreement shall take effect on the Effective Date, and shall remain in effect until the earliest of (a) 30 years after the Baseline Substantial Completion Date, (b) 30 years after the Substantial Completion Date, or (c) the termination of this Agreement as provided herein (the “Term”); provided that the Department may extend the Term as provided in Section 9.3.2(e). 2.2.2 The Parties acknowledge that Developer’s rights and obligations to finance and pay for development of the Phase II Construction, manage, operate, maintain and repair the Project, and perform Renewal Work and Upgrades commence on the Effective Date notwithstanding the later commencement of the Lease, subject to issuance of NTP 1, NTP 2 and NTP 3, and the satisfaction of other conditions precedent to performance of the Work set forth in this Agreement.

Term of Concession. 2.2.1 This Agreement shall take effect on the Effective Date, and shall remain in effect until the earlier of (a) [33] years after the Effective Date; or (b) the termination of this Agreement as provided herein ( the “Term”). 2.2.2 The Parties acknowledge that Developer’s rights and obligations to finance and pay for development of the Project, manage, operate, maintain and repair the Project, and perform Renewal Work and Upgrades commence on the Effective Date notwithstanding the later commencement of the Lease, subject to issuance of NTP 1 and NTP 2, and the satisfaction of other conditions precedent to performance of the Work set forth in this Agreement.