Concession Holder definition
Examples of Concession Holder in a sentence
The Ministry may amend the classification and category, previously listening to the Concession Holder, when the Airport does no longer have the installations and services necessary hereunder or when circumstances arise which merit said amendment and, consequently, it shall inform the Concession Holder the conditions to which the rendering of services in the Airport will be subject, in terms of its new classification.
This guarantee shall also secure the proper and timely compliance with the obligations of the Concession Holder under the provisions contained in Legislative Decree No. 1362 and regulations; or replacing or amending standards.
Pursuant to general legal terms, the Concession Holder is liable for negligence or risk for any damage caused to the State or to third parties that result from its activity.
In the exercise of the activities awarded in concession, the Concession Holder must adopt, pursuant to the terms of Article 71 of DL 109/94, adequate measures to minimize the environmental impact, ensuring protection of the surrounding ecosystem and safeguarding cultural patrimony, in compliance with the legal norms in force in that regard, whatever their source.
Without prejudice to what is established in Annex IV of this Contract, and the waiver right (“drill or drop”) to which refers article 63 of DL 109/94, during the initial period the Concession Holder will perform a minimum of the following prospection and research work: First year: · Purchase of 1500 km of speculative seismic, gravimetric data, information on ▇▇▇▇▇ and geochemistry, with an estimated investment of US$ 750,000.00 (seven hundred and fifty thousand United States dollars).