Common use of Additional Concession Fee Clause in Contracts

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.