Common use of Pre-Operating Expenses Clause in Contracts

Pre-Operating Expenses. The expenses incurred by the CONCESSIONAIRE from the Closing Date until prior to the Commercial Start-Up, which shall be paid by the GRANTOR in the event that the Contract is terminated prior to the submission of supporting documentation, duly audited by an independent, specialized firm. These expenses shall be those tied to the performance of the works, including the reimbursement of expenses incurred in the private investment promotion process, payment to the Private Investment Promotion Fund for Public Infrastructure and Public Utilities Works (FONCEPRI), interest during construction, Performance Bond contracting costs, costs involved in taking out insurance, etc. Under no circumstance shall Pre-Operating Expenses include those expenses that have already been included in the Concession Assets, for which reason they shall not include those expenses that already form part of the Book Value.