Common use of Concession Fee Clause in Contracts

Concession Fee. In consideration of the grant of the Concession, the Concessionaire shall during the Concession Period, pay to the Authority by way of concession fee a sum of Rs. [●]7 per annum in the manner laid down in Article 24.3.1(a), increased at 05% (five percent) year on year basis. In the event the Concessionaire undertakes either or both of Optional Development Obligations in accordance with Article 12.6.1 and Additional Services in accordance with Article 21.3, then the Concessionaire shall be liable to pay to the Authority, 15% (fifteen) percent of the actual Revenue from such Optional Development Obligations and Additional Services, as the case may be (“Additional Concession Fee”). The Concessionaire shall maintain a separate record for monthly Revenue from such activities. The record will detail tariff and other details of the Revenue generation and shall be audited and certified by the Statutory Auditor of the Concessionaire. The Revenue generation from such activities and corresponding records shall be reviewed by the Independent Expert on quarterly basis for assertion of the actual Revenue.

Concession Fee. In consideration of the grant of the Concession, the Concessionaire shall during the Concession Period, pay to the Authority by way of concession fee a sum of Rs. [●]7 8 per annum in the manner laid down in Article 24.3.1(a), increased at 05% (five percent) year on year basis. In the event the Concessionaire undertakes either or both of Optional Development Obligations in accordance with Article 12.6.1 and Additional Services in accordance with Article 21.3, then the Concessionaire shall be liable to pay to the Authority, 15% (fifteen) percent of the actual Revenue from such Optional Development Obligations and Additional Services, as the case may be (“Additional Concession Fee”). The Concessionaire shall maintain a separate record for monthly Revenue from such activities. The record will detail tariff and other details of the Revenue generation and shall be audited and certified by the Statutory Auditor of the Concessionaire. The Revenue generation from such activities and corresponding records shall be reviewed by the Independent Expert on quarterly basis for assertion of the actual Revenue.