Common use of Shareholding Clause in Contracts

Shareholding. 6.1 The Lead Member of such selected Bidder (JV / Consortium) shall at all time during the contract period hold equity equivalent to % (as per clause 6.9.2 of ITB) of the subscribed and paid up capital incorporated by the parties to work as the Contractor. Further, other consortium members whose technical / financial eligibility shall have been used for the purpose of qualification under this Tender document shall hold ………..% (as per clause 6.9.3 of ITB) equity respectively, in the subscribed and paid up capital during the contract period; Provided however that the Employer may in its sole and absolute discretion permit a JV / Consortium member to divest [in full/partially] its equity shareholding in the subscribed and paid up capital of the Contractor. (a) The Parties undertake that they shall comply with all equity lock-in requirements set forth in the tender for “the Work”.

Shareholding. 6.1 The Lead Member of such selected Bidder (JV / Consortium) shall at all time during the contract period hold equity equivalent to % (as per clause 6.9.2 of ITB) of the subscribed and paid up capital incorporated by the parties to work as the ContractorConsultant. Further, other consortium members whose technical / financial eligibility shall have been used for the purpose of qualification under this Tender document shall hold ………..% (as per clause 6.9.3 of ITB) equity respectively, in the subscribed and paid up capital during the contract period; Provided however that the Employer Authority may in its sole and absolute discretion permit a JV / Consortium member to divest [in full/partially] its equity shareholding in the subscribed and paid up capital of the ContractorConsultant. (a) a. The Parties undertake that they shall comply with all equity lock-in requirements set forth in the tender for “the Work”.