Common use of Additional Concession Fee Clause in Contracts

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 AuthorityGovernment, on the Appointed Date COD, a Premium in the form of an additional Concession Fee equal to Rs.……( . (in words words) as due to the authority Government 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 55 % (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 premium by 55 % (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 yearAccounting Year. In accordance with and in compliance with the terms of this agreementAgreement, If payment of such ‘Premium’ is due and payable only for part of such financial yearAccounting Year, then only pro-rata payments @ 1/12th 1/12 th of such Premium shall be payable for each month of such part financial year Accounting 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, escalation shall fall to commence on 1st of April of the immediately succeeding financial yearAccounting 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 20.2.1. “Without prejudice to the provisions of Clause 26.120.1, the Concessionaire agrees to pay to the Authority, on 3 (three) months from the Appointed Date COD, a Premium in the form of an additional Concession Fee equal to Rs.……( . --------- (rupees ------------------- only) {in words ) case the selected bidder is the same for more than one Package, the Premium quoted by the Bidder for such Packages shall be added up} as due to the authority 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 increased by increasing the amount of Premium in the respective year by an additional 5% (five percentper cent) 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. In case, any of the real estate forming part of the Site is not handed for development of one or more bus shelters, the Concessionaire will be allowed to pay the Premium prorata to the number of bus shelters constructed on the real estate handed over by the Authority. For avoidance of doubt it is clarified that the term ‘Premium’ as referred in para above shall be as applicable for one financial year. The Premium amount shall be payable on monthly basis. In accordance with and in compliance with the terms of this agreementAgreement, If if payment of such ‘Premium’ is due and payable only for part of such financial year, then only pro-rata payments @ at 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 circumstances, the subsequent year as referred to in para above, 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 20.2.2. The Premium payable under Clause 26.2.1 20.2.1 shall be deemed to be part of the Concession Fee for the purposes of this Agreement. 20.2.3. The Parties hereto acknowledge and agree that the Premium payable under the Clause 20.2.1 shall be over and above any extant advertisement Tax, as applicable, including its revision, if any, from time to time. For the avoidance of doubt, the Concessionaire is not required to pay any ground rent Tax / permission fee, that may be applicable in the GHMC area, for using GHMC lands.