Common use of Vesting Certificate Clause in Contracts

Vesting Certificate. 23.3.1 The divestment of all rights, title and interest in the Project and the Project Facilities excluding the Buses not being bought by the Authority in accordance with provisions of Clause 20.8 and 22.3, and also the equipment, machinery, consumables etc., procured by the Operator at its own cost during the Contract Period for the implementation of the Project, shall be deemed to be complete on the date on which all of the divestment/ handover requirements have been fulfilled by the Operator, and the Authority shall, without unreasonable delay, thereupon issue a certificate substantially in the form set forth in Schedule XIII (the “Vesting Certificate”), which will have the effect of constituting evidence of divestment/handover by the Operator of all of its rights, title and interest in the Project and the Project Facilities to the extent specified herein, and their vesting in the Authority pursuant hereto.

Vesting Certificate. 23.3.1 The divestment of all rights, title and interest in the Project and the Project Facilities Facility excluding the Buses not being bought by the Authority in accordance with provisions of Clause Clauses 20.8 and 22.3, 22.3 and also excluding the equipment, machinery, consumables etc., procured by the Operator at its own cost during the Contract Period for the implementation of the Project, shall be deemed to be complete on the date on which all of the divestment/ handover requirements have been fulfilled by the Operator, and the Authority shall, without unreasonable delay, thereupon issue a certificate substantially in the form set forth in Schedule XIII (the “Vesting Certificate”), which will have the effect of constituting evidence of divestment/divestment/ handover by the Operator of all of its rights, title and interest in the Project and the Project Facilities to the extent specified herein, and their vesting in the Authority pursuant hereto.