Phase Long-Stop Dates Sample Clauses

Phase Long-Stop Dates. If, for any reason whatsoever (including not obtaining Planning Permission or not achieving the Effective Planning Date), the Concessionaire has not achieved Substantial Completion and the issue of a valid Certificate of Substantial Completion in respect of any Phase (the "Relevant Phase") by its applicable Long-Stop Date (each a "Relevant Long-Stop Date"), then: (a) the Concessionaire shall pay to LLA within 60 Business Days of the Relevant Long- Stop Date, the following amounts: (i) in the case of a failure to achieve Substantial Completion and the issue of a Certificate of Substantial Completion in respect of ; (ii) in the case of a failure to achieve Substantial Completion and the issue of a Certificate of Substantial Completion in respect of ; and (iii) in the case of a failure to achieve Substantial Completion and the issue of a Certificate of Substantial Completion in respect of (Indexed), and the parties acknowledge that each of the above amounts constitutes a genuine pre-estimate of the losses (including loss of expected Concession Fee revenues) that would be suffered by LLA as a result of the Concessionaire's failure to complete the Relevant Phase by the Relevant Long-Stop Date, based on the Airport capacity that each Phase is projected to achieve by LLA; and (b) in addition, LLA shall (at its option) be entitled to terminate the Concession Agreement by giving, within 90 Business Days of the Relevant Longstop Date (or, where the failure to achieve Substantial Completion of the Relevant Phase by that date is disputed, within 90 Business Days of the date that the dispute is finally resolved), not less than 12 months' and no more than 18 months' notice in writing to the Concessionaire (which notice shall be irrevocable). Any failure to exercise such right in respect of a Relevant Phase shall not prevent LLA from exercising it in relation to any other Phase.