Common use of The Concession Clause in Contracts

The Concession. 3.1.1.Subject to and in accordance with the provisions of this Agreement, the Applicable Laws and the Applicable Permits, the Authority hereby grants to the Concessionaire the concession set forth herein including the exclusive right, licence, leasehold rights and authority to construct, operate and maintain the Project (the "Concession") for a period of 50 (fifty) years, commencing from the Appointed Date ("Concession Period"), and the Concessionaire hereby accepts the Concession and agrees to implement the Project subject to and in accordance with the terms and conditions set forth herein. Without prejudice to the initial term and regardless of the same, the Concession Period may be extended subject to and in accordance with the provisions set out below in this Clause 3.1.1. The Concessionaire shall, regardless of the aforesaid, have the right to extend the initial term of 50 (fifty) years Concession Period by an additional term of maximum10 (ten) years, at any time between the 45th anniversary of the Appointed Date to the 48th anniversary of the Appointed Date, by giving a written notice to the Authority. The Authority shall, subject to due performance of material obligations by Concessionaire, respond to such notice within 60 days. Provided, however, that this right of extension shall not be exercisable by the Concessionaire if any Concessionaire Default has occurred during the preceding five (5) years prior to the date on which the Concessionaire exercises its extension right during the aforesaid period by issue of said notice to the Authority. Provided further that if any Concessionaire Default occurs at any time between the date on which the Authority grants extension subject to and in accordance with terms hereof, and, the 50th anniversary of the Appointed Date, the Concessionaire’s right of extension for an additional term of 10 (ten) years shall lapse, unless otherwise agreed by the Authority in its sole discretion.

The Concession. 3.1.1.Subject to and in accordance with the provisions of this Agreement, the Applicable Laws and the Applicable Permits, the Authority hereby grants to the Concessionaire the concession set forth herein including the exclusive right, licence, leasehold rights and authority to construct, operate and maintain the Project (the "Concession") for a period of 50 30 (fiftythirty) years, commencing from the Appointed Date ("Concession Period"), and the Concessionaire hereby accepts the Concession and agrees to implement the Project subject to and in accordance with the terms and conditions set forth herein. Without prejudice to the initial term and regardless of the same, the Concession Period may be extended subject to and in accordance with the provisions set out below in this Clause 3.1.1. The Concessionaire shall, regardless of the aforesaid, shall have the right to extend the initial term of 50 (fifty) years Concession Period by an additional term of maximum10 30 (tenthirty) years, at any time between the 45th 25th anniversary of the Appointed Date to the 48th 28th anniversary of the Appointed Date, by giving a written notice to the Authority. The Authority shall, subject to due performance of material obligations by Concessionaire, shall respond to such notice within 60 days. Provided, however, that this right of extension shall not be exercisable by the Concessionaire if any Concessionaire Default has occurred during the preceding five (5) years prior to the date on which the Concessionaire exercises its extension right during the aforesaid period by issue of said notice to the Authority. Provided further that if any Concessionaire Default occurs at any time between the date on which the Authority grants Concessionaire exercises its right to extension subject to and in accordance with terms hereof, and, and the 50th 30th anniversary of the Appointed Date, the Concessionaire’s right of extension for an additional term of 10 30 (tenthirty) years shall lapse, unless otherwise agreed by the Authority in its sole discretion.

The Concession. 3.1.1.Subject Subject to and in accordance with the provisions of this Agreement, the Applicable Laws and the Applicable Permits, the SSNNL / FED / Authority hereby grants to the Concessionaire Concessionaire, with effect from the concession Effective Date, the concessions set forth herein in this Clause 3 including the exclusive right, licence, leasehold rights license and an authority to constructbuild, operate operate, maintain and maintain transfer the Project (the "“Concession"”) for the Concession Period. Unless terminated earlier in accordance with the provisions of this Agreement, the initial period of the Agreement shall be thirty five (35) years from the Effective Date (the “Concession Period”). The period of 35 years (including Construction Period) from the date of signing of Concession Agreement, unless terminated earlier, is for land under the ownership of SSNNL. The land under the ownership of Forest & Environment Department will be given on right to use basis with terms to be renewed annually for a period of 50 (fifty) years, commencing from co-terminus with the Appointed Date ("Concession Period"), unless terminates earlier. Provided that if the SSNNL / FED / Authority is satisfied with the performance of the Concessionaire during the Concession Period, it may at its sole discretion by order, extend the Concession Period for such period and on such terms and conditions as may be mutually agreed and as per the provisions of this Agreement and the prevailing Act. The Concessionaire hereby accepts the Concession Concessions and agrees to implement the Project subject to and in accordance with the terms and conditions set forth herein. Without prejudice to the initial term and regardless of the same, the Concession Period may be extended subject Subject to and in accordance with the provisions set out below of this Agreement and Applicable Laws, the Concession hereby granted shall, without prejudice to the provisions of Clause 3.1.1, entitle the Concessionaire to undertake development of the Site, subject to the conditions stipulated herein, and to exploit such development for commercial purposes and sub-license or lease any or all parts of the Project Facilities. The Authority / SSNNL / FED shall on a best effort and non-financial basis facilitate and assist the Concessionaire in obtaining all the Applicable Permits that may be required by the Concessionaire from any Government Instrumentality for the implementation, development, design, construction, operation and maintenance of the Project. Notwithstanding anything stated in this Clause 3.1.13.1.3, the Authority / SSNNL / FED will provide all reasonable support and non-financial assistance to the Concessionaire in procuring Applicable Permits as may be required from time to time, however the principal obligation of obtaining the Applicable Permits shall be solely of the Concessionaire. The Concessionaire shall, regardless cannot commence operations of the aforesaid, have the right to extend the initial term of 50 (fifty) years Concession Period by an additional term of maximum10 (ten) years, at any time between the 45th anniversary of the Appointed Date to the 48th anniversary of the Appointed Date, by giving a written notice to the Authority. The Authority shall, subject to due performance of material obligations by Concessionaire, respond to such notice within 60 days. Provided, however, that this right of extension shall not be exercisable by the Concessionaire if any Concessionaire Default has occurred during the preceding five (5) years Project Facilities prior to the date on which receiving of Provisional Certificate or Completion Certificate in respect of the Project (as defined in Essential Facilities and in phases, as the case maybe). Subject to the provisions of this Agreement, the Concessionaire exercises its extension right during however may provide possession of and / or sub-license to use the aforesaid period by issue of said notice Project Assets to third parties through any Contractual Arrangements. Provided however, the Concessionaire can accept bookings, advances towards memberships and obtain advance payments in relation to Project Assets, after bringing this limitation to the Authoritynotice of such third parties. Provided further that if any The Concessionaire Default occurs at any time between shall obtain the date on which prior written permission of the Authority grants extension subject / SSNNL / FED, before giving possession of any part of the Project Assets to third parties. Subject to and in accordance with terms hereof, andthe provisions of this Agreement, the 50th anniversary of Concessions hereby granted shall oblige, permit or entitle (as the Appointed Date, case may be) the Concessionaire’s right of extension for an additional term of 10 (ten) years shall lapse, unless otherwise agreed by the Authority in its sole discretion.Concessionaire to: