Payment Adjustment Events Sample Clauses

Payment Adjustment Events. The Independent Auditor shall certify in writing that the following events are considered Annuity Amount Payment Adjustment Events, provided that they shall not be considered an Annuity Adjustment Event if they result from Permitted Events (excluding Non-Political Events) (referred to as "Payment Adjustment Events"): (a) Equal or more than 20% decrease from the target quantitative KPIs. (b) The Concessionaire has failed to maintain the Institute in accordance with qualitative KPIs and the provisions of this O&M Contract (as permitted in the Reporting Forms, if applicable), irrespective of whether the Institute has been functioning properly or not.