Withdrawals during Concession Period. 27.3.1 The Concessionaire shall, at the time of opening the Escrow Account, give irrevocable instructions, by way of an Escrow Agreement, to the Escrow Bank instructing, inter alia, that deposits in the Escrow Account shall be appropriated in the following order every month, or at shorter intervals as necessary, and if not due in a month then appropriated proportionately in such month and retained in the Escrow Account and paid out therefrom in the month when due:
(a) all taxes due and payable by the Concessionaire for and in respect of the Project;
(b) all payments relating to construction of the Project, subject to and in accordance with the conditions, if any, set forth in the Financing Agreements;
(c) O&M Expenses, subject to the ceiling, if any, set forth in the Financing Agreements;
(d) O&M Expenses and other costs and expenses incurred by the Authority in accordance with the provisions of this Agreement, and certified by the Authority as due and payable to it;
(e) Concession Fee or Annual Concession Fee, as the case may be, due and payable to the Authority;
(f) monthly proportionate provision of Debt Service due in an Accounting Year;
(g) all payments and Damages certified by the Authority as due and payable to it by the Concessionaire;
(h) monthly proportionate provision of debt service payments due in an Accounting Year in respect of Subordinated Debt;
(i) any reserve requirements set forth in the Financing Agreements; and
(j) balance, if any, in accordance with the instructions of the Concessionaire.
27.3.2 The Concessionaire shall not in any manner modify the order of payment specified in Clause 27.3.1, except with the prior written approval of the Authority.
Withdrawals during Concession Period. The Concessionaire shall, at the time of opening the Escrow Account, give irrevocable instructions, by way of an Escrow Agreement, to the Escrow Bank instructing, inter alia, that deposits in the Escrow Account shall be appropriated in the following order every month, or at shorter intervals as necessary, and if not due in a month then appropriated proportionately in such month and retained in the Escrow Account and paid out therefrom in the month when due:
Withdrawals during Concession Period. 10.3.1 The Concessionaire shall, at the time of opening the Escrow Account, give irrevocable instructions to the Escrow Bank instructing, inter alia, that deposits in the Escrow Account shall be appropriated in the following order every month, or at shorter intervals as necessary, and if not due in a month then appropriated proportionately in such month and retained in the Escrow Account and paid out in the month when due:
(a.) all taxes due and payable by the Concessionaire for and in respect of the Project;
(b.) monthly proportionate provision of Debt Service due in an Accounting Year; (
Withdrawals during Concession Period. 26.3.1 The Concessionaire shall, at the time of opening the Project Account, give irrevocable instructions, by way of an Project Account Agreement, to the Project Account Bank instructing, inter alia, that deposits in the Project Account shall be appropriated in the following order every year, or at shorter intervals as necessary, and if not due in a year then appropriated proportionately in such year and retained in the Project Account and paid out therefrom in the year when due:
(a) Concession Fee and Additional Concession Fee due and payable to the Authority;
(b) all payments and Damages certified by the Authority as due and payable to it by the Concessionaire;
(c) and
(d) balance, if any, in accordance with the instructions of the Concessionaire.
26.3.2 The Concessionaire shall not in any manner modify the order of payment specified in Article 26.3.1, except with the prior written approval of the Authority.
26.3.3 The Concessionaire may open any other account at its discretion for making such payments as provided in Article 26.3.1 save and except Concession Fee due and payable to the Authority which must be appropriated from the Project Account.
Withdrawals during Concession Period. 4.1.1 At the beginning of every month, or at such shorter intervals as the Lenders’ Representative and the Concessionaire may by written instructions determine, the Escrow Bank shall withdraw amounts from the Escrow Account and appropriate them in the following order by depositing such amounts in the relevant Sub-Accounts for making due payments, and if such payments are not due in any month, then retain such monies in such Sub-Accounts and pay out therefrom on the Payment Date(s):
(a) all taxes due and payable by the Concessionaire;
(b) all payments relating to construction of the Project, subject to and in accordance with the conditions, if any, set forth in the Financing Agreements;
(c) O&M Expenses, subject to the ceiling, if any, set forth in the Financing Agreements;
(d) O&M Expenses incurred by the Authority, provided it certifies to the Escrow Bank that it had incurred such expenses in accordance with the provisions of the Concession Agreement and that the amounts claimed are due to it from the Concessionaire;
(e) Concession Fee due and payable to the Authority;
(f) monthly proportionate provision of Debt Service due in an Accounting Year; [(g) Deleted
Withdrawals during Concession Period. 1The Concessionaire shall, at the time of opening the Escrow Account, give irrevocable instructions, by way of an Escrow Agreement, to the Escrow Bank instructing, inter alia, that deposits in the Escrow Account shall be appropriated in the following order every month, or at shorter intervals as necessary, and if not due in a month then appropriated proportionately in such month and retained in the Escrow Account and paid out therefrom in the month when due: all taxes due and payable by the Concessionaire for and in respect of the Project Highway; all payments relating to construction of the Project Highway, subject to and in accordance with the conditions, if any, set forth in the Financing Agreements; O&M Expenses O&M Expenses and other costs and expenses incurred by the Authority in accordance with the provisions of this Agreement, and certified by the Authority as due and payable to it; monthly proportionate provision of debt service payment due in an Accounting Year all payments and Damages certified by the Authority as due and payable to it by the Concessionaire; and balance, if any, in accordance with the instructions of the Concessionaire.
Withdrawals during Concession Period. 23. 3.1 The Concessionaire shall, at the t ime of opening the Escrow Account, give irrevocable instructions, by way of an Escrow Agreement, to the Escrow Bank instructing, inter alia, that deposits in the Escrow Account shall be appropriated in the following order every month, or at shorter intervals as necessary, and if not due in a month then appropriated proportionately in such month and retained in the Escrow Account and paid out therefrom in the month when due:
(a) all taxes due and payable by the Concessionaire for and in respect of the Project Highway;
(b) Concession Fee due and payable t o the Government ;
(c) All payments relat ing t o const ruction of Proj ect Facilit ies, maj or and minor maintenance works;
(d) O& M Expenses, subj ect t o t he ceiling, set f ort h by the
Withdrawals during Concession Period. 26.3.1 The Concessionaire shall, at the time of opening the Project Account, give irrevocable instructions, by way of an Project Account Agreement, to the Project Account Bank instructing, inter alia, that deposits in the Project Account shall be appropriated in the following order every year, or at shorter intervals as necessary, and if not due in a year then appropriated proportionately in such year and retained in the Project Account and paid out therefrom in the year when due:
(a) Concession Fee and Additional Concession Fee due and payable to the Authority;
(b) all payments and Damages certified by the Authority as due and payable to it by the Concessionaire; and
(c) balance, if any, in accordance with the instructions of the Concessionaire.
26.3.2 The Concessionaire shall not in any manner modify the order of payment specified in Article 26.3.1, except with the prior written approval of the Authority.
Withdrawals during Concession Period. 3.1 The Concessionaire shall, at the time of opening the Escrow Account, give irrevocable instructions, by way of an Escrow Agreement, to the Escrow Bank instructing, inter alia, that deposits in the Escrow Account shall be appropriated in the following order every month, or at shorter intervals as necessary, and if not due in a month then appropriated proportionately in such month and retained in the Escrow Account and paid out therefrom in the month when due:
(a) all taxes due and payable by the Concessionaire for and in respect of the Project Road;
(b) all payments relating to construction of the Project Road, subject to and in accordance with the conditions, if any, set forth in the Financing Agreements;
(c) O&M Expenses
(d) O&M Expenses and other costs and expenses incurred by the Authority in accordance with the provisions of this Agreement, and certified by the Authority as due and payable to it;
(e) monthly proportionate provision of debt service payment due in an Accounting Year
(f) all payments and Damages certified by the Authority as due and payable to it by the Concessionaire; and
(g) balance, if any, in accordance with the instructions of the Concessionaire.
Withdrawals during Concession Period. 19.3.1. The Concessionaire shall, at the time of opening the Escrow Account, give irrevocable instructions, by way of an Escrow Agreement, to the Escrow Bank instructing, inter alia, that deposits in the Escrow Account shall be appropriated in the following order every month, or at shorter intervals as necessary, and if not due in a month then appropriated proportionately in such month and retained in the Escrow Account and paid out therefrom in the month when due:
a. all statutory dues & taxes due and payable by the Concessionaire for and in respect of the Project;
b. O&M Expenses;
c. O&M Expenses and other costs and expenses incurred by the Authority in accordance with the provisions of this Agreement, and certified by the Authority as due and payable to it;
d. monthly proportionate provision of debt service payment due in an Accounting Year;
e. all payments and Damages certified by the Authority as due and payable to it by the Concessionaire; and
f. balance, if any, in accordance with the instructions of the Concessionaire.
19.3.2. The Concessionaire shall not in any manner modify the order of payment specified in
3.1 except with the prior written approval of the Authority and the Lenders.
