Upfront Premium. 25.2.1 The Concessionaire agrees and undertakes to pay a sum of Rs. [•] (Rupees [•]) by way of an Upfront Premium, which is due and payable to the Authority in accordance with Clause 25.2.2.
25.2.2 The Concessionaire agrees and undertakes to pay the Upfront Premium in the following tranches specified in this Agreement ("Tranche"):
(a) First Tranche- 30% (thirty per cent) of the Upfront Premium not later than 30 days before the Effective Date;
(b) Second Tranche- 35% (thirty five per cent) of the Upfront Premium not later than 1st (first) anniversary of the Effective Date; and
(c) Third Tranche- 35% (thirty five per cent) of the balance Upfront Premium not later than 18 months from the Effective Date.
25.2.3 In the event that (i) the Concessionaire does not procure the fulfilment of any or all of the payment obligation set forth in Clause 25.2.2 and (ii) the delay has not occurred as a result of failure to fulfil the obligations or other breach of this Agreement by the Authority, or due to Force Majeure, the Concessionaire shall pay to the Authority Damages in an amount calculated at the rate of 0.2% (zero point two per cent) of the Performance Security for each day's delay until the fulfilment of such aforementioned payment obligations specified in Clause 25.2.2, subject to a maximum of 20% (twenty percent) of the Performance Security. For avoidance of doubt, it is agreed that the maximum period of delay shall be calculated accordingly.
25.2.4 It is agreed between the Parties that in the event of failure to pay any and/or all Tranches of the Upfront Premium beyond the delay specified in Clause 25.2.3 above, the non-payment of Upfront Premium shall constitute an Concessionaire Default and the same shall be dealt in accordance with Article 33.
25.2.5 Release of bank guarantee upon payment of Upfront Premium
Upfront Premium. 26.2.1 The Concessionaire agrees and undertakes to pay a sum of Rs. …………. (Rupees ) by way of an Upfront Concession Fee, which is due and payable to the Authority in accordance with Clause 26.2.2
26.2.2 The Concessionaire agrees and undertakes to pay the Upfront Premium in the following tranches specified in this Agreement (“Tranche”):
(a) First Tranche- 50% (fifty per cent) of the Upfront Premium not later than [30] days before the Effective Date;
(b) Second Tranche- 25% (twenty five per cent) of the Upfront Premium not later than [1st (first) anniversary] of the Effective Date; and
(c) Third Tranche- 25% (twenty five per cent) of the balance Upfront Premium not later than [18 months] from the Effective Date.
Upfront Premium. 19.2.1 In consideration of grant of the Concession and simultaneous to execution of this Agreement, the Concessionaire has made a non-refundable payment of INR 15,00,00,000 (Rupee Fifteen Crore), as specified in the Bid Documents, to the Authority (“Upfront Premium”).
Upfront Premium. On the Upfront Premium Payment Date, the Retrocedent will pay to the Retrocessionaire premium in the amount of $ ], of which (i) [$ ] will be paid to the Retrocessionaire in cash and (ii) [$ ] will be retained by the Retrocedent as a deposit.
Upfront Premium. 19.2.1 In consideration of grant of the Concession, the Concessionaire has made, simultaneous to the signing and execution of this Agreement, a non-refundable payment of INR 5,00,00,000 (Rupee Five Crore), as specified in the Bid Documents, to the Authority (“Upfront Premium”).
Upfront Premium. 20.1.1 The Upfront Premium amounting to Rs is paid by the Concessionaire vide reference no…………………………… dated ………………. From Bank.
Upfront Premium. The Concessionaire acknowledges and agrees that as set forth in the Bid, it shall pay to the Authority an additional Premium, as set forth in Clause 26.6.}
Upfront Premium. The upfront premium quoted by bidder mounting to Rs. …………………… is paid on in the form of …………………….. bearing ……………………….transaction reference No from ……….. Bank.
Upfront Premium. The Concessionaire shall pay the premium of Rs. ( Rupees The Payment is to be made in favour of “Imphal Smart City Limited” through NEFT / RTGS/DD
