Revenue Shortfall Loan Sample Clauses

Revenue Shortfall Loan. 28.1.1 If the Realisable Fee in any Accounting Year shall fall short of the Subsistence Revenue as a result of an Indirect Political Event, a Political Event or an Authority Default, as the case may be, the Authority shall, upon request of the Concessionaire, provide a loan for meeting such shortfall (the “Revenue Shortfall Loan”) at an interest rate equal to 2% (two per cent) above the Bank Rate.
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Revenue Shortfall Loan. Revenue shortfall loan for the Mine Operator has not been considered for this Project under the Agreement.
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Revenue Shortfall Loan. If the Realisable Fee in any Accounting Year shall fall short of the Subsistence Revenue as a result of an Indirect Political Event, a Political Event or an Authority Default, as the case may be, the Authority shall, upon request of the Concessionaire, provide a loan for meeting such shortfall (the “Revenue Shortfall Loan”) at an interest rate equal to 2% (two per cent) above the Bank Rate. If the half-yearly results of the Concessionaire indicate that the shortfall referred to in Clause 28.1.1 and contemplated for an Accounting Year has arisen in respect of the first 6 (six) months thereof, the Concessionaire shall be entitled to a provisional Revenue Shortfall Loan; provided that, no later than 60 (sixty) days after the close of such Accounting Year, the Concessionaire shall either repay the provisional loan with interest or adjust it against the Revenue Shortfall Loan, if any, as may be due to it under this Clause 28.1. Provided further if the Realisable Fee in any Accounting Year shall fall short of the Subsistence Revenue as a result of a judicial pronouncement not related to the default of the Concessionaire the Authority shall, upon request of the Concessionaire, provide “Revenue Shortfall Loan” at an interest rate equal to 2% (two percent) above the Bank Rate. The entire surplus cash, after meeting the subsistence expenditure shall be used for repayment of such Revenue Shortfall Loan. The Authority shall disburse the Revenue Shortfall Loan or the provisional Revenue Shortfall Loan, as the case may be, within 60 (sixty) days of receiving a valid request from the Concessionaire along with the particulars thereof including a detailed account of the Indirect Political Event, Political Event or the Authority Default, as the case may be, and its impact on the collection of Fee. Repayment of Revenue Shortfall Loan A sum equal to 50% (fifty per cent) of the ‘profit before tax’ of the Concessionaire, as and when made, shall be earmarked for repayment of the Revenue Shortfall Loan and interest thereon, and paid by the Concessionaire to the Authority within 90 (ninety) days of the close of the Accounting Year in which such profits have been made; provided that the Concessionaire shall repay the entire Revenue Shortfall Loan and interest thereon not later than one year prior to the expiry of the Concession Period and in the event that any sum remains due or outstanding at any time during such period of one year, the Authority shall be entitled to terminate thi...
Sample 1
Revenue Shortfall Loan. 28.1 If the Realisable Fees in any Accounting Year during the Concession Period shall fall below the Subsistence Revenue Level, MPRDC agrees to allow the Concessionaire to avail accommodation for such shortfall, by way of a loan (“Revenue Shortfall Loan”) from any Bank. Any balance of Maintenance Fund of the Concessionaire or any sums received or likely to be received by the Concessionaire through insurance claims (except insurance payments for physical loss used to carry out requisite repairs) or payments by MPRDC under Clause 28 shall first be deducted and only the balance amount remaining shall be availed as the Revenue Shortfall Loan.,
Sample 1
Revenue Shortfall Loan. 31.1.1 If the Realisable Mining Charge in any Accounting Year shall fall short of the Subsistence Revenue as a result of an Authority Default, the Authority shall, depending on the availability of funds with the Authority, upon request of the Mine Operator, provide a loan for meeting such shortfall (the "Revenue Shortfall Loan") at an interest rate equal to 2% (two per cent) above the Bank Rate against a bank guarantee.
Sample 1
Revenue Shortfall Loan oject Not Applicable
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Revenue Shortfall Loan. 28.1 If the Realisable Fees in any Accounting Year during the Concession Period shall fall below the Subsistence Revenue Level as a result of Indirect Political Event , a Political Event or MPRDC Default, as the case may be, MPRDC agrees to allow the Concessionaire to avail accommodation for such shortfall, by way of a loan (“Revenue Shortfall Loan”) from Senior Lenders
Sample 1
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