Additional Annual Concession Fee Sample Clauses
Additional Annual Concession Fee.
26.2.1 Without prejudice to the provisions of Clause 26.1, the Concessionaire agrees to pay to the Concessioning Authority, on the completion of 550th (five hundred and fiftieth) day from the Appointed Date annually, the first years Additional Annual Concession Fee which shall be Rs (As per the Bid of the Selected Bidder). Thereafter, for the remaining Concession Period, the Additional Annual Concession Fee shall be increased, after every year, at the rate of 4% (four percent), over the previous Additional Annual Concession Fee.
26.2.2 The Additional Annual Concession Fee payable under Clause 26.2.1 shall be deemed to be part of the Concession Fee for the purposes of this Agreement.
26.2.3 For Optional Commercial Built-up Area, Additional Annual Concession Fee - Optional Commercial Built- up Area (“AACF Optional Commercial Component”), shall be an amount to be paid in Indian Rupees and calculated by dividing the Additional Annual Concession Fee (bid of Selected Bidder, as per article 26.2.1), by the total obligatory minimum commercial built-up area (in sq. ft.) of 43,000 sq. ft. and multiply with Optional Commercial Built-up Area that may be constructed by the Concessionaire and as certified by the Independent Engineer and /or Concessioning Authority’s Nodal Officer/Project Engineer1. “AACF Optional Commercial Component” = AACF (as per bid Optional of selected bidder) x Commerc ial Built- 43,000 sq. ft. (min. obligation) up Area Thereafter, for the remaining Concession Period, the “AACF Optional Commercial Component” shall be increased, after every year, at the rate of 4% (four percent), over the previous “AACF Optional Commercial Component”.
1 For an example, if the Concessionaire shall plan to construct an Optional Commercial Built-up Area of 50,000 sq. ft. and offers an AACF Rs. 100 Lac, then Concessionaire shall have to pay “AACF Optional Commercial Component”, @ [ Rs. 100,00,000 / 43,000 sq. ft .(min. obligation]. X 50,000 sq. ft. = INR 1,16,27,906.97 (per year) plus applicable escalation, @ 4 % per annum (compounded, based on the actual year of construction completion of additional optional commercial built-up area. The annual escalation shall be calculated from 550th (five hundred & fiftieth) day from the Appointed Date.
Additional Annual Concession Fee.
26.2.1 Without prejudice to the provisions of Clause 26.1, the Concessionaire agrees to pay to the Concessioning Authority, on COD ( commercial operation date) of mandatory bus terminal component annually, the first years Additional Annual Concession Fee which shall be Rs (As per the Bid of the Selected Bidder). Thereafter, for the remaining Concession Period, the Additional Annual Concession Fee shall be increased, after every year, at the rate of 4% (four percent), over the previous Additional Annual Concession Fee.
26.2.2 The Additional Annual Concession Fee payable under Clause 26.2.1 shall be deemed to be part of the Concession Fee for the purposes of this Agreement.
Additional Annual Concession Fee.
26.2.1 Without prejudice to the provisions of Clause 26.1, the Concessionaire agrees to pay to the Concessioning Authority, on the completion of 550th (five hundred and fiftieth) day from the Appointed Date annually, the first years Additional Annual Concession Fee which shall be Rs
26.2.2 The Additional Annual Concession Fee payable under Clause 26.2.1 shall be deemed to be part of the Concession Fee for the purposes of this Agreement.