Common use of The Site and Procurement Clause in Contracts

The Site and Procurement. 10.1.1 The site of the Rail System shall comprise the real estate described in Schedule-A and in respect of which the Right of Way shall be provided and granted by MOR to the Concessionaire as a licensee under and in accordance with this Agreement (the “Site”). For the avoidance of doubt, it is hereby acknowledged and agreed that references to the Site shall be construed as references to the real estate required for the Rail System as set forth in Schedule-A. 10.1.2 The Parties agree and undertake that MOR shall acquire the Site or may require the Concessionaire to acquire the Site for and in the name of MOR, as may be mutually agreed between the Parties. It is expressly agreed that the cost of the Site shall be paid by the Concessionaire in either case, and upon Termination such cost paid by the Concessionaire shall become due and payable to the Concessionaire within 60 (sixty) days of a demand being made by the Concessionaire to MOR with the necessary particulars, and in the event of any delay, MOR shall pay interest at a rate equal to 3% (three per cent) above the Bank Rate on the amount of such cost remaining unpaid. It is expressly agreed that the cost of Site shall include the compensation to land owners and all other expenses incurred or to be incurred by the Concessionaire for acquiring the Site pursuant to Applicable Laws, and the cost to be refunded by MOR shall be such amount as certified by an Approved Valuer, who shall be selected and appointed by MOR. 10.1.3 In the event MOR requires the Concessionaire to acquire the Site for and on behalf of MOR, MOR shall, from time to time, upon the request of the Concessionaire, promptly and duly execute or procure the execution of all such documents and conduct such filings and registration, and take any other action (at the sole expense of the Concessionaire) as the Concessionaire may reasonably require in order to acquire the Site.

The Site and Procurement. 10.1.1 The site of the Rail System shall comprise the real estate described in Schedule-A and in respect of which the Right of Way shall be provided and granted by MOR to the Concessionaire as a licensee under and in accordance with this Agreement (the “Site”). For the avoidance of doubt, it is hereby acknowledged and agreed that references to the Site shall be construed as references to the real estate required for the Rail System as set forth in Schedule-A. 10.1.2 The Parties agree and undertake that MOR shall acquire the Site or may require the Concessionaire to acquire the Site for and in the name of MOR, as may be mutually agreed between the Parties. It Xxxxxxx.Xx is expressly agreed that the cost of the Site shall be paid by the Concessionaire in either case, and upon Termination such cost paid by the Concessionaire shall become due and payable to the Concessionaire within 60 (sixty) days of a demand being made by the Concessionaire to MOR with the necessary particulars, and in the event of any delay, MOR shall pay interest at a rate equal to 3% (three per cent) above the Bank Rate on the amount of such cost remaining unpaid. It is expressly agreed that the cost of Site shall include the compensation to land owners and all other expenses incurred or to be incurred by the Concessionaire for acquiring the Site pursuant to Applicable Laws, and the cost to be refunded by MOR shall be such amount as certified by an Approved Valuer, who shall be selected and appointed by MOR. 10.1.3 In the event MOR requires the Concessionaire to acquire the Site for and on behalf of MOR, MOR shall, from time to time, upon the request of the Concessionaire, promptly and duly execute or procure the execution of all such documents and conduct such filings and registration, and take any other action (at the sole expense of the Concessionaire) as the Concessionaire may reasonably require in order to acquire the Site.