Examples of Lease Premium in a sentence
The Parties hereby undertake that in the event the Consortium is declared the Selected Bidder and awarded the Project, it shall make the payment of the Lease Premium and also enter into Lease Deed for performing all its obligations as the Lessee in terms of the Lease Deed for the Project.
Similarly, the Lessee shall make timely payments of the instalments of Total Lease Premium and all other dues, taxes payable by the Lessee in terms of the Payment Plan and meeting its other obligations under this Agreement, subject to the simultaneous completion of construction by NBCC.
The Successful Bidder will have to pay an Annual Lease Rent of 0.25 % of the Lease Premium per annum excluding service tax and other rates and taxes during the lease period, besides making payment of the lease premium.
The remaining 75% of the Lease Premium of plot has to be paid by the H1 bidder in 12 equal half-yearly installments, each of which will be due on 1st day of January and 1st Day of July each year.
In the event that two or more Tenderers quote the same amount of Lease Premium (the “Tie Tenderers”), the Authority shall identify the Preferred Tenderer by draw of lots, which shall be conducted, with prior notice, in the presence of the Tie Tenderers who choose to attend.