Lead Consortium Member definition

Lead Consortium Member means in case of a Bidding consortium, that consortium member vested with the prime responsibility of developing a Project, holding not less than 26% equity stake in the Bidding Consortium and also holding the highest equity stake amongst all other consortium members. In the event of two or more consortium members holding the highest equal equity stake, the Bidding Consortium shall clearly indicate in the Bid which consortium member is to be considered the Lead Consortium Member and the consortium member so indicated or named shall be the Lead Consortium Member.

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Lead Consortium Member means the consortium member vested with the prime responsibility of developing the Project. The Lead Consortium Member shall necessarily have 51% stake in the paid up equity capital of the Special Purpose Company (SPC). The Lead Consortium Member shall be the consortium member signing the Concession Agreement on behalf of the SPC.

Lead Consortium Member or “Lead Bidder” shall mean the Member of the Bidding Consortium, designated as such by the other members of the Consortium, having authority to represent all the members before the Utility;

Examples of Lead Consortium Member in a sentence

• This safety, health and environmental consortium agreement, has been compiled by [Insert name of Lead Consortium Member] who is the Lead Consortium member (LCM) for the development called [Insert name of Development] The consortium members are intending to work together to ensure the safe development of the main infrastructure in respect of traffic and pedestrian management and public safety throughout the works.

• The shareholding pattern of the Lead Consortium Member and the Technical Consortium Member cannot be diluted till the expiry of the Concession Period.

• Lead Consortium Member shall not be allowed to dilute its equity stake to a level below 51% (fifty one percent) till second anniversary of Commercial Operations Date.

• The Lead Consortium Member shall be allowed to dilute the equity stake after 2nd Anniversary with the approval of the DTTDC such that the equity stake of the Lead Consortium Member in the SPV shall not fall below 26% (twenty six percent) at any time till the end of Agreement Period.

• The shareholding pattern of Lead Consortium Member shall be 51% and that of Technical Consortium Member shall be of 26% in the total paid up equity capital of the SPC.

• The Lead Consortium Member shall be allowed to dilute the equity stake after Commercial Operations Date with the approval of the DTTDC such that the stake of the Lead Consortium Member in the SPV shall not fall below 26% at any time till the end of Agreement Period.

• Moreover, the Lead Consortium Member shall continue to hold 51% (fifty one percent) equity stake in the Consortium till second anniversary of Commercial Operations Date.

• JV Member shall provide consent to the Lead Consortium Member and make itself aware of all the proceedings of the bidding process and Project implementation through legally enforceable consortium agreement, power of attorneys, legal undertakings, etc.

• Moreover, the Lead Consortium Member shall continue to hold 51% (fifty one percent) equity of the SPV till second anniversary of Commercial Operations Date.

• For [Selected Bidder] [Name of the Lead Consortium Member/ Sole Bidder], [Signature of Authorized Representative] ................................................................

More Definitions of Lead Consortium Member

Lead Consortium Member means in case of a Bidding consortium, that consortium member vested with the prime responsibility of developing a Project, holding not less than 26% equity stake in the Bidding Consortium and also holding the highest equity stake amongst all other consortium members;

Lead Consortium Member. The Consortium Member taking the lead in submitting this RFP in terms of Clause 8 of Section F i.e. G.C.C of this RFP and duly supported by the legal agreements as per formats in this RFP.