Common use of The Concession Clause in Contracts

The Concession. 3.1.1 Subject to and in accordance with the provisions of this Agreement, the Applicable Laws and the Applicable Permits, the Authority hereby grants to the Concessionaire the concession set forth herein including the exclusive right, licence and authority to construct, operate and maintain the Project (the “Concession”) for a period of [32]4 years commencing from the Appointed Date, and the Concessionaire hereby accepts the Concession and agrees to implement the Project subject to and in accordance with the terms and conditions set forth herein. Provided that in the event the Concessionaire shall have discharged its obligations without any material breach thereof for a period of [32 (thirty)] years from the Appointed Date, it shall have a right of first refusal in the event the Authority invites fresh bids for selection of a new concessionaire after the expiry of the Concession Period by efflux of time. For the avoidance of doubt, material breach shall for the purposes hereof mean Suspension and/or cumulative levy of Damages exceeding a sum equivalent to Performance Security. It is expressly agreed between the Parties that the first right of refusal shall mean that the Concessionaire will have a right to match the financial bid of the bidder selected without itself participating in such bidding process, if any, for undertaking the Project through a competitive bidding, after the expiry of the Concession Period by efflux of time. It is expressly agreed between the Parties that the terms and conditions for such additional period of [30] years after the expiry of the Concession Period shall be determined by the Authority. Provided [further] that the in the event Concessionaire successfully matches the financial bid of the bidder selected, if any, the Concessionaire shall have a right to undertake the Project for an additional period of [30] years on the terms and conditions as specified in such bidding document. It is expressly agreed between the Parties, in the event, no bidder is selected through the competitive bidding process and/or no bidder participates in the process for undertaking the Project, as the case may be, the Concessionaire may by notice to be given no later than the [180] days from the date of Termination seek extension of the additional [30] years and in such an event, it may be entitled to an additional period of [30] years, at the discretion of the Authority on the terms and conditions. specified in this Concession Agreement

The Concession. 3.1.1 Subject to and in accordance with the provisions of this Agreement, the Applicable Laws and the Applicable Permits, the Authority hereby grants to the Concessionaire the concession set forth herein including the exclusive right, licence and authority to construct, operate and maintain the Project (the “Concession”) for a period of [32]4 years commencing from the Appointed Date, and the Concessionaire hereby accepts the Concession and agrees to implement the Project subject to and in accordance with the terms and conditions set forth herein. Downloaded from Provided that in the event the Concessionaire shall have discharged its obligations without any material breach thereof for a period of [32 (thirty)] years from the Appointed Date, it shall have a right of first refusal in the event the Authority invites fresh bids for selection of a new concessionaire after the expiry of the Concession Period by efflux of time. For the avoidance of doubt, material breach shall for the purposes hereof mean Suspension and/or cumulative levy of Damages exceeding a sum equivalent to Performance Security. xxx.xxxxxx.xxx It is expressly agreed between the Parties that the first right of refusal shall mean that the Concessionaire will have a right to match the financial bid of the bidder selected without itself participating in such bidding process, if any, for undertaking the Project through a competitive bidding, after the expiry of the Concession Period by efflux of time. It is expressly agreed between the Parties that the terms and conditions for such additional period of [30] years after the expiry of the Concession Period shall be determined by the Authority. Provided [further] that the in the event Concessionaire successfully matches the financial bid of the bidder selected, if any, the Concessionaire shall have a right to undertake the Project for an additional period of [30] years on the terms and conditions as specified in such bidding document. It is expressly agreed between the Parties, in the event, no bidder is selected through the competitive bidding process and/or no bidder participates in the process for undertaking the Project, as the case may be, the Concessionaire may by notice to be given no later than the [180] days from the date of Termination seek extension of the additional [30] years and in such an event, it may be entitled to an additional period of [30] years, at the discretion of the Authority on the terms and conditions. specified in this Concession Agreement

The Concession. 3.1.1 Subject to and in accordance with the provisions of this Agreement, the Applicable Laws laws and the Applicable Permits, the Authority hereby grants to the Concessionaire the concession set forth herein including the exclusive right, licence license and authority to constructdemand, operate collect and appropriate Fee, operate, manage and maintain the Project Highway (the “Concession”) subject to and in accordance with terms hereof, for a period of [32]4 years 30 (thirty years) commencing from the Appointed Date, Date (the “Concession Period”) and the Concessionaire hereby accepts the Concession concession and agrees to implement the Project subject to and in accordance with the terms and conditions set forth herein. Provided that Notwithstanding anything to the contrary in the event the Concessionaire shall have discharged its obligations without any material breach thereof for a period of [32 (thirty)] years from the Appointed Datethis Agreement, it shall have a right of first refusal in the event the Authority invites fresh bids for selection of a new concessionaire after the expiry of the Concession Period by efflux of time. For the avoidance of doubt, material breach shall for the purposes hereof mean Suspension and/or cumulative levy of Damages exceeding a sum equivalent to Performance Security. It is expressly agreed between the Parties expressly agree that the first right of refusal shall mean that the Concessionaire will have a right to match the financial bid of the bidder selected without itself participating in such bidding process, if any, for undertaking the Project through a competitive bidding, after the expiry of the Concession Period by efflux of time. It is expressly agreed between the Parties that the terms and conditions for such additional period of [30] years after the expiry of the Concession Period shall not be determined reduced by more than 5 (five) years, or shall not be increased by more than 10 (ten) years on any account or for any reason whatsoever. Subject to and in accordance with the Authority. Provided [further] that the in the event Concessionaire successfully matches the financial bid provisions of the bidder selected, if anythis Agreement, the Concessionaire Concession hereby granted shall have a right to undertake the Project for an additional period of [30] years on the terms and conditions as specified in such bidding document. It is expressly agreed between the Parties, in the event, no bidder is selected through the competitive bidding process and/or no bidder participates in the process for undertaking the Project, oblige or entitle (as the case may be, ) the Concessionaire may to: Right of Way, access and license to the Site for the purpose of and to the extent conferred by notice to be given no later than the [180] days provisions of this Agreement. manage, operate and maintain the Project Highway and regulate the use thereof by third parties in accordance with terms hereof; demand, collect and appropriate Fee from vehicles and Users liable for payment of Fee for using the date Project Highway or any part thereof and refuse entry of Termination seek extension any vehicle if the Fee due is not paid; perform and fulfill all of the additional [30] years Concessionaire’s obligations under and in such an eventaccordance with this Agreement; bear and pay all costs, it may be entitled expenses and charges in connection with or incidental to an additional period of [30] years, at the discretion performance of the Authority obligations of the Concessionaire under this Agreement; and neither assign, transfer or sublet or create any lien or Encumbrance on this Agreement, or the Concession hereby granted or on the terms whole or any part of the Project Highway nor transfer, lease or part possession thereof, save and conditionsexcept as expressly permitted by this Agreement. specified The provisions in relation to the Escrow Account in this Concession AgreementAgreement shall only be applicable if the obligations of the Concessionaire under this Agreement are financed by the lenders.