Common use of Early Closure Clause in Contracts

Early Closure. The Authority reserves the right to terminate the Project at any time and at its discretion (the “Early Closure”) by issuing a Termination Notice, provided that before issuing the Termination Notice, the Authority shall by a notice inform the Concessionaire of its intention to issue the Termination Notice at least 90 days in advance. The Authority will grant 15 (fifteen) days to the Concessionaire to make a representation, and may after the expiry of such 15 (fifteen) days, whether or not it is 32.

Appears in 2 contracts

Sources: Concession Agreement, Concession Agreement