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 Facility excluding the Buses not being bought by the Authority in accordance with provisions of Clauses20.8 and 22.3and 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 82 [Drafting Note : Applicable only in the event the Authority is buying back the Buses in terms of Article 22 or the same are being handed over by the Operator to the Authority since the Buses were procured by the Authority under the Contract] 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 Facility excluding the Buses not being bought by the Authority in accordance with provisions of Clauses20.8 Clauses 20.8 and 22.3and 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 82 [Drafting 84[Drafting Note : Applicable only in the event the Authority is buying back the Buses in terms of Article 22 or the same are being handed over by the Operator to the Authority since the Buses were procured by the Authority under the Contract] 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.

Vesting Certificate. 23.3.1 The divestment of all rights, title and interest in the Project and the Project Facility Facilities excluding the Buses not being bought by the Authority in accordance with provisions of Clauses20.8 Clause 20.8 and 22.3and 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 82 [Drafting 73[Drafting Note : Applicable only in the event the Authority is buying back the Buses in terms of Article 22 or the same are being handed over by the Operator to the Authority since the Buses were procured by the Authority under the Contract] 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.