Lead ULB definition
Examples of Lead ULB in a sentence
The Concessionaire shall allow access to and use of the Site for laying/ installing/ maintaining telegraph lines, electric lines, gas lines of the Gas Authority of India Limited or for such other public purposes as the Lead ULB may specify provided that such access or use shall not result in a Material Adverse Effect to the Concessionaire.
The Concessionaire shall procure that in each insurance policy, the Lead ULB shall be a co-insured and that the insurer shall pay the proceeds to insurance.
Within 30 (thirty) days of receipt of such notice, the Lead ULB may require the Concessionaire to effect and maintain such other insurances as may be necessary pursuant hereto, and in the event of any difference or disagreement relating to any such insurance, the Dispute Resolution Procedure shall apply.
Failure of the Concessionaire to complete all the Punch List items within the time set forth in Clause 14.4.1 for any reason, other than conditions constituting Force Majeure or for reasons solely attributable to the Participating ULBs, shall entitle the Lead ULB to terminate this Agreement.
The Concessionaire shall be entitled to rely upon any such action, decision or communication or notice from the Lead ULB.
The Lead ULB shall recover the pro-rated costs payable to the Independent Engineer as Remuneration from amounts payable to the Concessionaire.
For the avoidance of doubt, it is expressly agreed that in the event the Lead ULB does not exercise such rights of substitution within a period not exceeding 90 (ninety) days from the Transfer Date, the Project Agreements shall be deemed to cease to be in force and effect on the Transfer Date without any liability whatsoever on the Lead ULB and the Covenant shall expressly provide for such eventuality.
It is also agreed that the Lead ULB shall not be liable in any manner on account of grant or otherwise of such approval and that such approval or denial thereof shall not in any manner absolve the Concessionaire from any liability or obligation under this Agreement.
Provided that if the Agreement is terminated due to any event other than a Concessionaire Event of Default, the Construction Performance Security, if subsisting as on the Termination Date shall, subject to rights of the Lead ULB to receive amounts at prevailing time, if any, due from Concessionaire under this Agreement, be duly discharged and released to Concessionaire within 30 days from the Termination Date.
Upon service of the Termination Notice or at least 12 months before the expiry of the term of agreement, a joint inspection of the Project Facilities shall be undertaken by Independent Engineer/ the Lead ULB and Concessionaire.