Examples of Project Construction Completion Date in a sentence
In case, the Force majeure event takes place before the Project Construction Completion Date, the Construction Period shall also be extended by the period of Force Majeure event, with the maximum extension of Concession Period being limited to 1 (one) year.
Members of the Consortium undertake that they shall collectively hold at least 100% (hundred per cent) of the subscribed and paid up equity of the SPV at all times until the fifth anniversary of the Project Construction Completion Date; and vi.
The Concessionaire may be allowed to novate the agreement after completion of 10 (ten) consecutive years after Project Construction Completion Date subject to the condition that the novatee fulfills the minimum eligibility criteria.
Members of the Consortium shall nominate one member as the lead member (the "Lead Member"), who shall have an equity share holding of at least 51% (fifty one per cent) of the paid up and subscribed equity of the SPV till a period of 5 (five) years from the Project Construction Completion Date and 26% (twenty six percent) during the remaining Concession Period.
All other members of the Consortium shall legally and beneficially hold not less than 26% (twenty six percent) of the paid up & subscribed equity share capital of the Concessionaire till a period of 5 (five) years from the Project Construction Completion Date.
Upon Termination of this Agreement on account of Concessionaire Event of Default, prior to the Project Construction Completion Date, Concessioning Authority shall retain payments, if any, already received from the Concessionaire.
Commit that each of the members, whose experience will be evaluated for the purposes of this RFP, shall subscribe for 26% (twenty six per cent) or more of the paid up and subscribed equity of the SPV and shall further commit that each such member shall, for a period of 5 (five) years from the Project Construction Completion Date, hold equity share capital not less than 26% (twenty six per cent) of the subscribed and paid up equity share capital of the SPV; v.
The Concessionaire has failed to implement the Project in accordance with the provisions of this Agreement and such failure, in the reasonable estimation of Concessioning Authority, is likely to failure in operation, maintenance and achieving Project Construction Completion Date.
By submitting the Bid, the Bidder acknowledges and undertakes that the Lead Member shall continue to hold minimum 51% of the equity and each of the other Consortium Members shall continue to hold at least 11% of the equity of the Concessionaire until the fifth anniversary of the Project Construction Completion Date is achieved under and in accordance with the provisions of the RFP and Concession Agreement.
All other members of the Consortium shall legally and beneficially hold not less than 11 % (eleven percent) of the paid up & subscribed equity share capital of the Concessionaire till a period of 5 (five) years from the Project Construction Completion Date.