EQUITY LOCK IN OBLIGATIONS OF THE LEAD PARTNER Sample Clauses

EQUITY LOCK IN OBLIGATIONS OF THE LEAD PARTNER. 3.1 Lead Member shall hold minimum 51% (fifty one percent) equity of SPV Company. Consortium Member satisfying Technical Eligibility shall hold minimum 26% (twenty six percent) equity In the SPV Company. Lead Member along with Consortium Member satisfying Technical Eligibility shall hold minimum 80% (eighty percent) equity of the SPV Company till 2 years from the date of issuance of Commencement Certificate for the first phase of the Project. After which, Lead Member along with Consortium Member satisfying Technical Eligibility shall hold minimum 51% equity of the SPV Company till the completion of rehabilitation, renewal, amenities and infrastructure. (hereinafter referred to as the “Lock-in- Period”).
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