Common use of Concession Period Clause in Contracts

Concession Period. 3.2.1 Subject to early termination of this Agreement in accordance with its terms, the term of this Agreement is [33 (thirty-three)] years from the Execution Date (the “Concession Period”), which shall include 5 (five) years (the “Construction Period”) from the Appointed Date. The extension of the Concession Period for another 33 years shall be automatic, provided the Medical College and Hospital has all approvals under the Applicable Laws to undertake the continued operations of the Medical College, and a Concessionaire Default is not subsisting. Provided that the Concessionaire may request the Authority for the extension by submitting an application not later than the 30th year anniversary of the lease of Site for Medical College to the Authority and the Authority shall confirm the extension of lease within 90 days.

Concession Period. 3.2.1 Subject to early termination of this Agreement in accordance with its terms, the term of this Agreement is [33 (thirty-three)] years from the Execution Date (the “Concession Period”), which shall include 5 3 (fivethree) years (the “Construction Period”) from the Appointed Date. The extension of the Concession Period for another 33 years shall be automatic, provided the Medical College and Hospital has all approvals under the Applicable Laws to undertake the continued operations of the Medical College, and a Concessionaire Default is not subsisting. Provided that the Concessionaire may request the Authority for the extension by submitting an application not later than the 30th year anniversary of the lease of Site for Medical College to the Authority and the Authority shall confirm the extension of lease within 90 days.