Common use of Equity Support Clause in Contracts

Equity Support. 26.2.1 Subject to the conditions specified in this Clause 26.2, 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”). 26.2.2 The Equity Support shall not exceed the sum specified in the Bid and as accepted by the Authority but shall in no case be greater than twice the Equity and shall be further restricted to a sum not exceeding 40% (forty per cent) of the Total Project Cost. Provided, however that in the event Equity Support shall exceed 20% (twenty per cent) of the Total Project Cost, the amount in excess of such 20% (twenty per cent) shall be released against an irrevocable bank guarantee for 2 (two) years which may be invoked if the Concessionaire commits any breach of the obligations specified in this Agreement. For the avoidance of doubt, the Total Project Cost to be reckoned for the purposes of this Clause 26.2.2 shall include Equity Support.

Equity Support. 26.2.1 25.2.1 Subject to the conditions specified in this Clause 26.225.2, 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”). 26.2.2 25.2.2 The Equity Support shall not exceed the sum specified in the Bid and as accepted by the Authority but shall in no case be greater than twice the Equity and shall be further restricted to a sum not exceeding 40% (forty per cent) of the Total Project Cost. Provided, however that in the event Equity Support shall exceed 20% (twenty per cent) of the Total Project Cost, the amount in excess of such 20% (twenty per cent) shall be released against an irrevocable bank guarantee for 2 (two) years which may be invoked if the Concessionaire commits any breach of the obligations specified in this Agreement. For the avoidance of doubt, the Total Project Cost to be reckoned for the purposes of this Clause 26.2.2 25.2.2 shall include Equity Support.