Common use of Delay in Commencement of Project Clause in Contracts

Delay in Commencement of Project. i. The Licensee shall develop the project as per project development milestone set out in Article 2.8. ii. Where the Licensee does not obtain the permission of development and/or building construction as the case may be within the time specified by the Authority, the extension in time to commence the development/construction may be granted by the Chief Executive Officer, NRANVP, on payment of surcharge by the Licensee. iii. Where the Licensee does not obtain the permission for development and/or construction of building within time specified by the authority in the tender documents, the extension in time to obtain permission for development and/or construction of building, as the case may be, shall be granted by the Chief Executive Officer on payment of surcharge specified in the table below by the Licensee subject to condition that the construction shall be completed within the time specified in the Tender documents: — First Twelve months or part thereof Two Second Twelve months or part thereof after the First extension of time, as the case maybe, if it is within the time limit of completion of construction as per agreement Three Third Twelve months or part thereof after the Second extension of time, as the case may be, if it is within the time limit of completion of construction as per agreement Five

Delay in Commencement of Project. i. The Licensee shall develop the project as per project development milestone set out in Article 2.8. ii. Where the Licensee does not obtain the permission of development and/or building construction as the case may be within the time specified by the Authority, the extension in time to commence the development/construction may be granted by the Chief Executive Officer, NRANVP, on payment of surcharge by the Licensee. iii. Where the Licensee does not obtain the permission for development and/or construction of building within time specified by the authority in the tender documentsdocument, the extension in time to obtain permission for development and/or construction of building, as the case may be, shall be granted by the Chief Executive Officer on payment of surcharge specified in the table below by the Licensee Lessee subject to condition that the construction shall be completed within the time specified in the Tender documentstender document: — First Twelve months or part thereof Two Second Twelve months or part thereof after the First extension of time, as the case maybe, if it is within the time limit of completion of construction as per agreement Three Third Twelve months or part thereof after the Second extension of time, as the case may be, if it is within the time limit of completion of construction as per agreement Five