Common use of Deemed Termination upon delay Clause in Contracts

Deemed Termination upon delay. Without prejudice to the provisions of Clause 4.1 and 4.2, the Parties expressly agree that in the event the Appointed Date does not occur, for any reason whatsoever, before the 1st (first) anniversary of the date of this Agreement, all rights, privileges, claims and entitlements of the Concessionaire under or arising out of this Agreement shall be deemed to have been waived by, and to have ceased with concurrence of the Concessionaire, and the Concession Agreement shall be deemed to have been terminated by mutual agreement of the Parties. Provided, however, that in the event the non-occurrence of the Appointed Date is for reasons attributable to the Concessionaire, the Bid Security shall be encashed by the Authority unless substituted by the Performance Security, in which case, an amount equal to the Bid Security shall be encashed and appropriated from the Performance Security as Damages thereof. Upon termination under this Clause the Authority shall, within [•] days, refund the Concession Fee to the Concessionaire, if deposited by the Concessionaire, without interest.

Deemed Termination upon delay. ‌ Without prejudice to the provisions of Clause 4.1 and 4.2, the Parties expressly agree that in the event the Appointed Date does not occur, for any reason whatsoever, before the 1st (first) anniversary of the date of this Agreement, all rights, privileges, claims and entitlements of the Concessionaire under or arising out of this Agreement shall be deemed to have been waived by, and to have ceased with concurrence of the Concessionaire, and the Concession Agreement shall be deemed to have been terminated by mutual agreement of the Parties. Provided, however, that in the event the non-occurrence of the Appointed Date is for reasons attributable to the Concessionaire, the Bid Security shall be encashed by the Authority unless substituted by the Performance Security, in which case, an amount equal to the Bid Security shall be encashed and appropriated from the Performance Security as Damages thereof. Upon termination under this Clause the Authority shall, within [•] 30 (thirty) days, refund the Concession Fee to the Concessionaire, if deposited by the Concessionaire, without interest.

Deemed Termination upon delay. Without prejudice to the provisions of Clause 4.1 and 4.2, the Parties expressly agree that in the event the Appointed Date does not occur, for any reason whatsoever, before the 1st (first) anniversary of the date of this Agreement, all rights, privileges, claims and entitlements of the Concessionaire under or arising out of this Agreement shall be deemed to have been waived by, and to have ceased with concurrence of the Concessionaire, and the Concession Agreement shall be deemed to have been terminated by mutual agreement of the Parties. Providedprovided, however, that in the event the non-occurrence of the Appointed Date is for reasons attributable to the Concessionaire, the Bid Security shall be encashed by the Authority unless substituted by the Performance performance Security, in which case, an amount equal to the Bid Security shall be encashed and appropriated from the Performance Security as Damages thereof. Upon termination under this Clause the Authority shall, within [•*] days, refund the Concession Fee fee to the Concessionaire, if deposited by the Concessionaire, without interest.

Deemed Termination upon delay. Without prejudice to the provisions of Clause Clauses 4.1 and 4.2, the Parties expressly agree that in the event the Appointed Date does not occur, occur for any reason whatsoever, before the 1st (first) anniversary of the date of this Agreement, all rights, privileges, claims and entitlements of the Concessionaire under or arising out of this Agreement shall be deemed to have been waived by, and to have ceased with concurrence of the Concessionaire, and the Concession Agreement shall be deemed to have been terminated by mutual agreement of the Parties. Provided, however, that in the event the non-occurrence of the Appointed Date is for reasons attributable to the Concessionaire, the Bid Security shall be encashed by the Contracting Authority unless substituted by the Performance Security, in which case, an amount equal to the Bid Security shall be encashed and appropriated from the Performance Security as Damages thereof. Upon termination under this Clause the Contracting Authority shall, within [•] days, refund the Concession Fee to the Concessionaire, if deposited by the Concessionaire, without interest.

Deemed Termination upon delay. Without prejudice to the provisions of Clause 4.1 and 4.2, the Parties expressly agree that in the event the Appointed Date does not occur, for any reason whatsoever, before the 1st (first) anniversary of the date of this Agreement, all rights, privileges, claims and entitlements of the Concessionaire under or arising out of this Agreement shall be deemed to have been waived by, and to have ceased with concurrence of the Concessionaire, and the Concession Agreement shall be deemed to have been terminated by mutual agreement of the Parties. Provided, however, that in the event the non-occurrence of the Appointed Date is for reasons attributable to the Concessionaire, the Bid Security shall be encashed by the Authority unless substituted by the Performance Security, in which case, an amount equal to the Bid Security shall be encashed and appropriated from the Performance Security as Damages thereof. Upon termination under this Clause the Authority shall, within [•] 30 (thirty) days, refund the Concession Fee to the Concessionaire, if deposited by the Concessionaire, without interest.

Deemed Termination upon delay. Without prejudice to the provisions of Clause 4.1 and 4.2, the Parties expressly agree that in the event the Appointed Date does not occur, for any reason whatsoever, before the 1st (first) anniversary of the date of this Agreement, all rights, privileges, claims and entitlements of the Concessionaire under or arising out of this Agreement shall be deemed to have been waived by, and to have ceased with concurrence of the Concessionaire, and the Concession Agreement shall be deemed to have been terminated by mutual agreement of the Parties. Provided, however, that in the event the non-occurrence of the Appointed Date is for reasons attributable to the Concessionaire, the Bid Security shall be encashed by the Authority unless substituted by the Performance Security, in which case, an amount equal to the Bid Security shall be encashed and appropriated from the Performance Security as Damages thereof. Upon termination under this Clause the Authority shall, within [•] 30 days, refund the Concession Fee to the Concessionaire, if deposited by the Concessionaire, without interest.