Change in Ownership Restrictions Sample Clauses

Change in Ownership Restrictions. (i) [The Concessionaire shall ensure that the Selected Bidder holds at least: (i) [51% (fifty one percent)] of the total Equity Contribution and voting rights of the Concessionaire until [2 (two)] years after COD; and (ii) [26% (twenty six percent)] of the total Equity Contribution and voting rights of the Concessionaire during the remaining Concession Period.]39 OR
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Change in Ownership Restrictions. (a) The Concessionaire shall ensure that the Selected Bidder holds at least 51% of the total Capital and voting rights of the Concessionaire until the COD, and at least 26% of the total Capital and voting rights of the Concessionaire until 3 years after the COD. After the expiry of 3 years from the COD, the Selected Bidder can exit the Concessionaire, subject to: (i) the entity acquiring the shareholding of the Selected Bidder in the Concessionaire meeting the O&M qualification criteria set out in the RFP; or (ii) the Concessionaire appointing an O&M contractor who complies with the technical qualification criteria set out in the RFP.
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Change in Ownership Restrictions. (a) The Concessionaire shall ensure that the Selected Bidder holds at least 51% of the total Capital and voting rights of the Concessionaire until Mirzapur COD, and at least 26% of the total Capital and voting rights of the Concessionaire until until 3 years after the Mirzapur COD. After the expiry of 3 years from the Mirzapur Facilities COD, the Selected Bidder can exit the Concessionaire, subject to: (i) the entity acquiring the shareholding of the Selected Bidder in the Concessionaire meeting the O&M qualification criteria set out in the RFP; or (ii) the Concessionaire appointing an O&M contractor who complies with the technical qualification criteria set out in the RFP.]11
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Change in Ownership Restrictions. (a) [The Selected Bidder represents and warrants that it shall hold at least 51% of the total Capital and voting rights of the Concessionaire until the COD, and at least 26% of the total Capital and voting rights of the Concessionaire until 3 years after the COD. 9Delete Member if the Selected Bidder is a single entity. After the expiry of 3 years from the COD, the Selected Bidder can exit the Concessionaire, subject to:(i) the entity acquiring the shareholding of the Selected Bidder in the Concessionaire meeting the O&M qualification criteria set out in the RFP; or (ii) the Concessionaire appointing an O&M contractor who complies with the technical qualification criteria set out in the RFP.]10
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Change in Ownership Restrictions. In case of a single-party/entity bidding, the Concessionaire shall ensure that the Selected Bidder holds at least 51% of the total Capital and voting rights of the Concessionaire until 3 years after Tolly‟s Nallah COD or Garden Reach COD or Keorapukur Handover Date, whichever is later, and at least 26% of the total Capital and voting rights of the Concessionaire until 3 years after the Tolly‟s Nallah COD or Garden Reach COD or Keorapukur Handover Date, whichever is later . After the expiry of 3 years from the Tolly‟s Nallah COD or Garden Reach COD or Keorapukur Handover Date, whichever is later, the Selected Bidder can exit the Concessionaire, subject to: (i) the entity acquiring the shareholding of the Selected Bidder in the Concessionaire meeting the O&M qualification criteria set out in the RFP; or (ii)the Concessionaire appointing an O&M contractor who complies with the technical qualification criteria set out in the RFP.] 10 and (iii) approval of the KMC, which shall not be unreasonably withheld. OR In case the selected Bidder is a Consortium, the Concessionaire shall ensure that Members 9 Delete Member if the Selected Bidder is a single entity. 10 This paragraph may be deleted if the Selected Bidder is a Consortium. of the Selected Bidder, being the shareholders of the Concessionaire, comply with the following ownership restrictions: The Lead Member shall hold not less than 26% of the total Capital and voting rights of the Concessionaire until 3 years after the Tolly‟s Nallah Facilities COD or Garden Reach Facilities COD or Keorapukur Handover Date, whichever is later The Member, other than the Lead Member, whose Technical Capacity or Financial Capacity is being assessed solely for construction of S&D Network, as outlined in Clause 4.1 (a)(ii), shall hold at least 10% of the total Capital and Voting rights of the Concessionaire for 3 years after the Tolly‟s Nallah Facilities COD or Garden Reach Facilities COD or Keorapukur Handover Date, whichever is later. any Member, other than the Lead Member and the Member referred to in Article 12.2(b)(ii) above, whose Technical Capacity or Financial Capacity is being assessed for the purpose of qualification, shall hold at least 26% of the total Capital and voting rights of the Concessionaire for 3 years after the Tolly‟s Nallah Facilities COD or Garden Reach Facilities COD or Keorapukur Handover Date, whichever is later. After the expiry of 3 years from the Tolly‟s Nallah COD or Garden Reach COD or Keorapukur ...
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