O&M Payments. 23.7.1 The Parties acknowledge and agree that all O&M Expenses shall be borne by the Concessionaire and in lieu thereof, a lump sum financial support in the form of biannual payments shall be due and payable by the Authority in accordance with the provisions of this Clause 23.7 (the “O&M Payments”). The Parties further acknowledge and agree that any O&M Expenses in excess of the O&M Payments shall be borne solely by the Concessionaire, save and except as expressly provided in this Agreement.
Appears in 4 contracts
Samples: Concession Agreement, Concession Agreement, Concession Agreement
O&M Payments. 23.7.1 The Parties acknowledge and agree that all O&M Expenses shall be borne by the Concessionaire and in lieu thereof. For the performance of its Maintenance obligations, a lump sum financial support in the form of biannual payments shall be due and payable by the Authority in accordance with the provisions of this Clause 23.7 (the “O&M Payments”). The Parties further acknowledge and agree that any O&M Expenses in excess of the O&M Payments shall be borne solely by the Concessionaire, save and except as expressly provided in this AgreementAuthority.
Appears in 3 contracts
Samples: Concession Agreement, Concession Agreement, Draft Concession Agreement
