Sole purpose of the Concessionaire. The Concessionaire having been set up for the sole purpose of exercising the rights and observing and performing its obligations and liabilities under this Agreement, the Concessionaire or any of its subsidiaries shall not, except with the previous written consent of the Authority, be or become directly or indirectly engaged, concerned or interested in any business other than as envisaged herein.
Sole purpose of the Concessionaire. 5.7.1 Except as provided in Clause 3.1.3, the Concessionaire having been set up for the sole purpose of exercising the rights and observing and performing its obligations and liabilities under this Agreement shall not, except with the prior written consent of the Authority, be or become directly or indirectly engaged, concerned or interested in any business or activity other than envisaged herein.
Sole purpose of the Concessionaire. The Concessionaire shall not, except with the prior written consent of the Authority, be or become directly or indirectly engaged, concerned or interested in any business other than the business incidental or consequential to the provisions of this Agreement or any similar business related to eco-tourism resort and hospitality services.
Sole purpose of the Concessionaire. The Concessionaire shall not, except with the prior written consent of the Authority, be or become directly or indirectly engaged, concerned or interested in any business other than the business incidental or consequential to the provisions of this Agreement or any similar business related to medical education and the Healthcare Services.
Sole purpose of the Concessionaire. The Concessionaire having been set up for the sole purpose of exercising the rights and observing and performing its obligations and liabilities under this Agreement, the Concessionaire or any of its subsidiaries shall not, except with the previous written consent of the Lead ULB, be or become directly or indirectly engaged, concerned or interested in any business other than as envisaged herein.
Sole purpose of the Concessionaire. The Concessionaire having been set up for the sole purpose of exercising the rights and observing and performing its obligations and liabilities under this Agreement, the Concessionaire or any of its subsidiaries shall not, except with the previous written consent of the Authority, be or become directly or indirectly engaged, concerned or interested in any business other than as envisaged herein.3 3Clause 5.8 may be omitted if a special purpose vehicle is not considered necessary for implementation of the Project, especially when the Project is comparatively small and can be implemented by an existing company of the selected bidder. In case Clause 5.8 is omitted, then Recitals E & F may also be omitted.
Sole purpose of the Concessionaire. The Concessionaire having been set up for the sole purpose of exercising the rights and observing and performing its obligations and liabilities under this Agreement, i.e., the design, development, implementation, operation and management of the Project, the Concessionaire hereby agrees not to have any shareholding interest/control in any form or otherwise in any entity, or any other form of arrangement with any person, which may allow it to undertake or perform any other business activity. The Concessionaire hereby agrees not to form any subsidiary/Joint Venture or to invest in securities of any other body corporate or to have any shareholding interest/control in any form, whether direct or indirect or through voting rights, or be or become directly or indirectly engaged, concerned or interested in any business, for undertaking its obligations in relation to design, development, implementation, operation and management of the Project.
Sole purpose of the Concessionaire. The Concessionaire having been set up for the sole purpose of exercising the rights and observing and performing its obligations and liabilities under this Agreement, the Concessionaire shall not, except with the previous written consent of the Concessioning Authority, be or become directly or indirectly engaged, concerned or interested in any business other than as envisaged herein. The Concessionaire shall not do or carry out any illegal trade or activities in the Project that are prohibited under the Applicable laws. A breach of the provisions contained herein by the Concessionaire shall constitute a Concessionaire Event of Default that shall entitle the Concessioning Authority to terminate the Agreement in accordance with the provisions hereof.. It is made absolutely clear that the Concessionaire will not use the land for any other purpose other than for which the components of concession are being granted.
Sole purpose of the Concessionaire. 5.7.1 The Concessionaire having been set up for the sole purpose of exercising the rights and observing and performing its obligations and liabilities under this Agreement, the Concessionaire or any of its subsidiaries shall not, except with the previous written consent of TNRDC, be or become directly or indirectly engaged, concerned or interested in any business other than as envisaged herein.
Sole purpose of the Concessionaire. The concessionaire having been set up for the sole purpose of exercising the rights and observing and performing its obligations and liabilities under this agreement, the concessionaire or any of its subsidiaries shall not, except with the previous written consent of the MPRDC be or become directly or indirectly engaged, concerned or interested in any business other than as envisaged herein. During the Construction period, the Concessionaire shall be responsible for maintaining the Site of the Project Highway at its own cost and expense and shall modify, repair or otherwise make improvements to the existing road of the Project Highway are ordinarily open to traffic at all times. The Concessionaire shall promptly undertake all such repairs and maintenance works as may be necessary to keep the Project Highway traffic-worthy and safe during the Construction Period. It is expressly agreed that the Concessionaire shall, at all times be responsible and liable for all its obligations under this agreement notwithstanding anything contained in the project agreement or any other agreement, and no default under any project agreement or agreement shall execute the Concessionaire from its obligations or liability hereunder.
