Additional Concession Fee Sample Clauses
The Additional Concession Fee clause establishes the requirement for a concessionaire to pay extra fees beyond the standard concession payments under certain conditions. Typically, this clause outlines the circumstances that trigger the additional fee, such as exceeding agreed-upon sales thresholds, utilizing extra space, or providing additional services not covered in the original agreement. Its core practical function is to ensure that the concession grantor is fairly compensated for increased use or benefit derived from the concession, thereby allocating financial risk and incentivizing compliance with the original terms.
Additional Concession Fee. 26.2.1 Without prejudice to the provisions of Clause 26.1, the Concessionaire agrees to pay to the MOR for each year commencing from [365th day after the COD], a premium (the “Premium”) in the form of an additional Concession Fee equal to {1% (one per cent)}$ of the total User Fee during that year, net of any taxes on User Fee.
26.2.2 The Premium payable under Clause 26.2.1 shall be deemed to be part of the Concession Fee for the purposes of this Agreement.
Additional Concession Fee. 26.2.1 Without prejudice to the provisions of Clause 26.1, the Concessionaire agrees to pay to the Authority, on the Appointed Date a Premium in the form of an additional Concession Fee equal to Rs.……( in words ) as due to the authority during that year, due and payable for the period remaining in that year; and for each subsequent year of the Concession Period, the Premium shall be determined by increasing the amount of Premium in the respective year by an additional 5% (five percent) as compared to the immediately preceding year. For the avoidance of doubt, the Premium for all subsequent years shall be determined by increasing the amount of Premium by 5% (five percent) as compared to the immediately preceding year. For avoidance of doubt it is clarified that the term ‘Premium’ as referred in para above shall be as applicable for one financial year. In accordance with and in compliance with the terms of this agreement, If payment of such ‘Premium’ is due and payable only for part of such financial year, then only pro-rata payments @ 1/12th of such Premium shall be payable for each month of such part financial year for which such Premium payments is due as payable. For the purpose of assessing the amount due for payment on such payment of Premium, part of a month shall be deemed to be a full month. In such circumstances the subsequent year as referred to in para above, for the purpose of 5% (five per cent) annual escalation, shall fall to commence on 1st of April of the immediately succeeding financial year.
26.2.2 The Premium payable under Clause 26.2.1 shall be deemed to be part of the Concession Fee for the purposes of this Agreement.
Additional Concession Fee. 26.2.1 Without prejudice to the provisions of Clause 26.1, the Concessionaire agrees to pay to the Authority immediately after the first (1st) anniversary of Project Completion Date , a premium (the “Premium”) in the form of an additional Concession Fee for every year of the remaining Concession Period, to be calculated on total Realisable Fee in the manner stated in this clause. The Premium to be paid for the 2nd year after Project Completion Date shall equal to …… (…. per cent) of the total Realisable Fee during that year. For all subsequent years, the Premium shall be determined on the total Realisable Fee in the respective year at the percentage to be arrived at by increasing the percentage of Premium by an additional 1% (one percent) as compared to the immediately preceding year. For the avoidance of doubt, and by way of illustration, if the Premium for the 1st year after Project Completion Date is 3.5% (three point five per cent) of the total Realizable Fee in that year, then the premium for the 2nd year shall be equal to 4.5% (four point five per cent) of the total Realisable Fee for that year.
26.2.2 The Premium payable under Clause 26.2.1 shall be deemed to be part of the Concession Fee for the purposes of this Agreement.
Additional Concession Fee. 27.2.1 Without prejudice to the provisions of Clause 25.1., the Concessionaire agrees to pay to the Authority for the {20th (twentieth) year of the Concession Period}£, a premium (the “Premium”) in the form of an additional Concession Fee equal to {1% (one per cent)}$ of the total Realisable Fee during that year, net of any taxes on Fee; and for each subsequent year of the Concession Period, the Premium shall be determined by increasing the proportion of Premium to the total Realisable Fee in the respective year by an additional 1% (one per cent) as compared to the immediately preceding year; provided that the Premium payable under this Article 27 shall be subject to a ceiling of 20% (twenty per cent) of the total Realisable Fee in the respective year. For the avoidance of doubt and by way of illustration, the Premium for the {21st (twenty-first) and 22nd (twenty-second)} years shall be equal to {2% (two per cent) and 3% (three per cent)} respectively of the total Realisable Fee for the respective years.
27.2.2 The Premium payable under Clause 27.2.1 shall be deemed to be part of the Concession Fee for the purposes of this Agreement.
Additional Concession Fee. Commencing on the first (1st) anniversary of the Commencement Date, Lessee shall pay the City annually, as an “Additional Charge”, ten percent (10%) of gross receipts that are derived from its commercial use of the Premises during the immediately preceding one-year period. Lessee shall retain records of such gross receipts that are derived from the sublicensing of the Premises for a period of six years which will be available for inspection by the City upon request.
Additional Concession Fee. 23.2.1 Without prejudice to the provisions of Clause 23.1, the Concessionaire agrees to pay to the Authority {for the Concession Period, but commencing from the day falling after ….... (……………………) days from COD}, a Premium set forth in the Bid. {The Premium (the additional Concession Fee) shall be paid annually in equal instalments distributed over the remaining Concession Period.}
23.2.2 The Premium payable under Clause 23.2.1 shall be deemed to be part of the Concession Fee for the purposes of this Agreement.
Additional Concession Fee. 26.2.1 Without prejudice to the provisions of Clause 26.1, the Concessionaire agrees to pay to the Authority commencing from the day falling after 1 (one) day from COD, a Premium in the form of an additional Concession Fee equal to { % ( per cent)} of the Gross Revenue throughout the Concession Period.
26.2.2 Gross Revenue shall be computed on the basis of the Realisable Fee and all other revenues accruing to the Concessionaire in respect of the Project Facilities during the relevant period of computation.
Additional Concession Fee. £
26.2.1 Without prejudice to the provisions of Clause 26.1, the Concessionaire agrees to pay to the Authority for the year commencing from the {day falling after .................. (...............) days of the occurrence of COD}, a premium (the “Premium”) in the form of an additional Concession Fee equal to { 1% (one per cent) } of the total Realisable Fee during that year, due and payable on a pro rata basis for the period remaining in that year; and for each subsequent year of the Concession Period, the Premium shall be determined by increasing the proportion of Premium to the total Realisable Fee in the respective year by an additional 1% (one per cent) as compared to the immediately preceding year. For the avoidance of doubt and by way of illustration, the Premium for the ...................th (.................. th) and ..................th (. th) years shall be equal to {2% (two per cent) and 3% (three per cent)} respectively of the total Realisable Fee for the respective years.
26.2.2 The Premium 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 Notwithstanding anything to the contrary contained in Clause 26.2.1., but subject to Clause 29.2.2, the Premium payable by the Concessionaire under this Article 26 shall at all times be subject to a ceiling of 50% (fifty per cent) of the total Realisable Fee in the respective year.££ £ The Premium shall be determined by competitive bidding and the bidding instructions contained in the RFP shall specify the manner in which the highest bidder shall be selected. In the event of the Concessionaire seeking a Grant under Clause 25.1 or offering no Premium, the words enclosed in the first curly parenthesis shall be substituted by the words ‘15” (fifteenth) anniversary of COD”. In the event of the Concessionaire commencing a payment of 1% of Realisable Fee from COD or from any ▇▇▇▇ thereafter, but no later than the l5 anniversary of the Appointed Date, the blank space shall be filled according to the date specified in the Bid. Further, in case the Concessionaire has offered a Premium exceeding 1% commencing from COD, the percentage specified in the Bid may be substituted in the second parenthesis, subject always to the ceiling specified in Clause 26.2.3.
Additional Concession Fee. 26.2.1 Without prejudice to the provisions of Clause 26.1, the Concessionaire agrees to pay to the Authority on COD , a Premium in the form of an additional Concession Fee equal to Rs. (in words) as due to the Authority during that year, due and payable on a pro rata basis, for the period remaining in that year; and for each subsequent year throughout the Concession Period, the Premium shall be determined by increasing the amount of Premium in the respective year by an additional 5% (five per cent) as compared to the immediately preceding year. For the avoidance of doubt, it is clarified the term ‘Premium’ as referred in para above shall be as applicable for one financial year. In accordance with and in compliance with the terms of this Agreement, if payment of such ‘Premium’ is due and payable only for part of such financial year, then only pro-rata payments @ 1/12th of such Premium shall be payable for each month of such part financial year for which such Premium payments are due and payable. For the purpose of assessing the amount due for payment on such payment of Premium, part of the month shall be deemed to be a full month. In such circumstances the subsequent year as referred to in para above, for the purpose of annual escalation, shall commence on 1st April of the immediately succeeding financial year.
26.2.2 The Premium payable under Clause 26.2.1 shall be deemed to be part of the Concession Fee for the purposes of this Agreement.
Additional Concession Fee. 26.2.1 Without prejudice to the provisions of Clause 26.1, the Concessionaire agrees to pay to the MPRDC for the 1st (First) year of the Concession Period, but commencing from the day falling after Scheduled COD a Premium in the form of an additional Concession Fee equal to 4.762% (Four Point Seven Six Two percent) of the total Realisable Fee during that year; and for each subsequent year of the Concession Period, the Premium shall be determined by increasing the proportion of Premium to the total Realizable Fee in the respective year by an additional 1% percentage(one percent) point as compared to the immediately preceding year. For the avoidance of doubt, the Premium for the 2nd (Second) and 3rd (Third) years shall be equal to 5.762% (Five Point Seven Six Two per cent) and 6.762% (Six Point Seven Six Two per cent) respectively of the total realizable fee for the respective years.
26.2.2 The Premium payable under Clause 26.1.2 shall be deemed to be Concession Fee for the purposes of this Agreement.