Common use of Equity Support Clause in Contracts

Equity Support. 25.2.1 Subject to the conditions specified in this Clause 25.2, the Grant shall be credited to the Escrow Account and shall be applied by the Concessionaire for meeting the Total Project Cost (the “Equity Support”). 25.2.2 The Equity Support shall not exceed in sum specified in the Bid and as accepted by the Authority, but shall in no case be greater than the Equity, and shall be further restricted to a sum not exceeding 40% (forty percent) of the Total Project Cost. For the avoidance of doubt, the Total Project to be reckoned for the purposes of this Clause 25.2.2 shall include Equity Support. 25.2.3 Equity Support shall be due and payable to the Concessionaire after it has expended the Equity, and shall be disbursed proportionately along with the loan funds thereafter remaining to be disbursed by the Senior Lenders under the Financing Agreements. MPRDC shall disburse each tranche of the Equity Support as and when due, but not later than 15 (fifteen) days of receiving a request from the Concessionaire along with necessary particulars. 25.2.4 In the event of occurrence of a Concessionaire Default, disbursement of Equity Support shall be suspended till such Concessionaire Default has been cured by the Concessionaire. 25.2.5 Subject to the provisions of the Scheme of Financial Support to Public Private Partnership in Infrastructure as notified by the Central Government (the “Scheme for Financial Assistance”), the Government shall, for funding the Grant specified in Clause 25.1.1, use its best endeavours and provide all reasonable support to the Concessionaire for obtaining viability gap Funding under the Scheme for Financial Assistance. For the avoidance of doubt, it is expressly agreed that in the event of the Concessionaire being able to receive such viability gap funding for the Project, the same shall, for the purposes of this Agreement be deemed to be Grant by MPRDC hereunder, to be disbursed in accordance with the provisions of the Scheme for Financial Assistance. It is further agreed that MPRDC shall at all times discharge kits obligation to disburse Grant under and in accordance with this Article 25 whether or not funds are disbursed to the Concessionaire under the Scheme for Financial Assistance.

Equity Support. 25.2.1 Subject to the conditions specified in this Clause 25.2, the Grant shall be credited to the Escrow Account and shall be applied by the Concessionaire for meeting the Total Project Cost (the “Equity Support”). 25.2.2 The Equity Support shall not exceed in the sum specified in the Bid and as accepted by the Authority, but shall in no case be greater than the Equity, and shall be further restricted to a sum not exceeding 4020 % (forty percenttwenty per cent) of the Total Project Cost. For the avoidance of doubt, the Total Project Cost to be reckoned for the purposes of this Clause 25.2.2 shall include Equity Support. 25.2.3 Equity Support shall be due and payable to the Concessionaire after it has expended the Equity, and shall be disbursed proportionately along with the loan funds thereafter remaining to be disbursed by the Senior Lenders under the Financing Agreements. MPRDC The Authority shall disburse each tranche of the Equity Support as and when due, but not no later than 15 (fifteen) days of receiving a request from the Concessionaire along with necessary particulars. 25.2.4 In the event of occurrence of a Concessionaire Default, disbursement of Equity Support shall be suspended till such Concessionaire Default has been cured by the Concessionaire. 25.2.5 Subject to the provisions of the Scheme of Financial Support to Public Private Partnership in Infrastructure as notified by the Central Government (the “Scheme for Financial Assistance”), the Government Authority shall, for funding the Grant specified in Clause 25.1.1, use its best endeavours and provide all reasonable support to the Concessionaire for obtaining viability gap Funding funding under the Scheme for Financial Assistance. For the avoidance of doubt, it is expressly agreed that in the event of the Concessionaire being able to receive such viability gap funding for the Project, the same shall, for the purposes of this Agreement be deemed to be Grant by MPRDC the Authority hereunder, to be disbursed in accordance with the provisions of the Scheme for Financial Assistance. It is further agreed that MPRDC the Authority shall at all times discharge kits its obligation to disburse Grant under and in accordance with this Article 25 whether or not funds are disbursed to the Concessionaire under the Scheme for Financial Assistance.

Equity Support. 25.2.1 Subject to the conditions specified in this Clause 25.2, the Grant shall be credited to the Escrow Account and shall be applied by the Concessionaire for meeting the Total Project Cost (the “Equity Support”). 25.2.2 The Equity Support shall not exceed in the sum specified in the Bid and as accepted by the AuthorityMPRDC, but shall in no case be greater than the Equity, and shall be further restricted to a sum not exceeding 4020% (forty percenttwenty per cent) of the Total Project Cost. For the avoidance of doubt, the Total Project Cost to be reckoned for the purposes of this Clause 25.2.2 shall include Equity Support. 25.2.3 Equity Support shall be due and payable to the Concessionaire after it has expended the Equity, and shall be disbursed proportionately along with the loan funds thereafter remaining to be disbursed by the Senior Lenders under the Financing Agreements. MPRDC shall disburse each tranche of the Equity Support as and when due, but not no later than 15 (fifteen) days of receiving a request from the Concessionaire along with necessary particulars. 25.2.4 In the event of occurrence of a Concessionaire Default, disbursement of Equity Support shall be suspended till such Concessionaire Default has been cured by the Concessionaire. 25.2.5 Subject to the provisions of the Scheme of Financial Support to Public Private Partnership in Infrastructure as notified by the Central Government (the “Scheme for Financial Assistance”), the Government shall, for funding the Grant specified in Clause 25.1.1, use its best endeavours and provide all reasonable support to the Concessionaire for obtaining viability gap Funding funding under the Scheme for Financial Assistance. For the avoidance of doubt, it is expressly agreed that in the event of the Concessionaire being able to receive such viability gap funding for the Project, the same shall, for the purposes of this Agreement be deemed to be Grant by MPRDC hereunder, to be disbursed in accordance with the provisions of the Scheme for Financial Assistance. It is further agreed that MPRDC shall at all times discharge kits its obligation to disburse Grant under and in accordance with this Article 25 whether or not funds are disbursed to the Concessionaire under the Scheme for Financial Assistance.

Equity Support. 25.2.1 Subject to the conditions specified in this Clause 25.2, the Grant funds raised by the Concessionaire through development of the said land/other revenue sources shall be credited to in the Escrow Account and shall be applied by the Concessionaire for meeting the Total Project Cost (the “Equity Support”). 25.2.2 The Equity Support shall not exceed in be equal to the sum specified in the Bid and as accepted by the AuthorityMSRDC, but shall in no case be greater than the Equity, and shall be further restricted to a sum not exceeding 4020% (forty percenttwenty per cent) of the Total Project Cost. For the avoidance of doubt, the Total Project Cost to be reckoned for the purposes of this Clause 25.2.2 shall include be exclusive of Equity Support. 25.2.3 The Equity Support by way of additional land on lease shall be due and payable to expendable by the Concessionaire after it has expended the Equity, and shall be disbursed utilized proportionately along with the loan funds thereafter remaining to be disbursed by the Senior Lenders under the Financing Agreements. MPRDC MSRDC shall disburse each tranche of the Equity Support as and when due, but not later than aforesaid by credit to the ESCROW Account within 15 (fifteen) days of receiving a request from the release of each loan installment by the Senior Lenders to the Concessionaire provided the Concessionaire has submitted to MSRDC along with necessary particularseach disbursement request a certificate from its Statutory Auditors certifying the above particulars and has given at least 7 (seven) days to MSRDC for processing the request. 25.2.4 In the event of occurrence of a Concessionaire Default, disbursement utilization of Equity Support shall be suspended till such Concessionaire Default has been cured by the Concessionaire. 25.2.5 Subject to the provisions of the Scheme of Financial Support to Public Private Partnership in Infrastructure as notified by the Central Government (the “Scheme for Financial Assistance”), the Government shall, for funding the Grant specified in Clause 25.1.1, use its best endeavours and provide all reasonable support to the Concessionaire for obtaining viability gap Funding under the Scheme for Financial Assistance. For the avoidance of doubt, it is expressly agreed that in the event of the Concessionaire being able to receive such viability gap funding for the Project, the same shall, for the purposes of this Agreement be deemed to be Grant by MPRDC hereunder, to be disbursed in accordance with the provisions of the Scheme for Financial Assistance. It is further agreed that MPRDC shall at all times discharge kits obligation to disburse Grant under and in accordance with this Article 25 whether or not funds are disbursed to the Concessionaire under the Scheme for Financial Assistance.