Common use of Payment Reserve Account Clause in Contracts

Payment Reserve Account. 24.1.1 The Authority shall, at least 60 (sixty) days prior to the Commercial Operation Date, [open and establish] an account (“Payment Reserve Account”) with a bank and shall maintain such Payment Reserve Account in accordance with the payment reserve agreement (the “Payment Reserve Agreement”) to be entered into amongst the Concessionaire, the Authority and the bank at least 75 (seventy five) days prior to the Commercial Operation Date.

Payment Reserve Account. 24.1.1 The Authority shall, at least 60 (sixty) [•] days prior to the Commercial Operation Date, [open and establish] an account (the “Payment Reserve Account”) with a bank and shall maintain such Payment Reserve Account in accordance with the payment reserve agreement (the “Payment Reserve Agreement”) to be entered into amongst the Concessionaire, the Authority and the bank at least 75 (seventy five) [•] days prior to the Commercial Operation Date.

Payment Reserve Account. 24.1.1 The Authority shall, at least 60 (sixty) [] days prior to the Commercial Operation Date, [open and establish] an account (the “Payment Reserve Account”) with a bank and shall maintain such Payment Reserve Account in accordance with the payment reserve agreement (the “Payment Reserve Agreement”) to be entered into amongst the Concessionaire, the Authority and the bank at least 75 (seventy five) [] days prior to the Commercial Operation Date.