Common use of Upfront Premium Clause in Contracts

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. 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”):): Downloaded from (a) First Tranche- 50% (fifty per cent) of the Upfront Premium not later than [30] days before the Effective Date;; xxx.xxxxxx.xxx (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.