Compensation for default by the Concessionaire. Subject to the provisions of Clause 26.4, in the event of the Concessionaire being in material default or breach of this Agreement, it shall pay to the Lead ULB by way of compensation, all direct costs suffered or incurred by the Participating ULBs as a consequence of such material default, within 30 (thirty) days of receipt of the demand supported by necessary particulars thereof; provided that no compensation shall be payable under this Clause 26.1 for any breach or default in respect of which Damages are expressly specified and payable under this Agreement or for any consequential losses incurred by the Participating ULBs.
Appears in 6 contracts
Sources: Concession Agreement, Concession Agreement, Concession Agreement
Compensation for default by the Concessionaire. Subject to the provisions of Clause 26.4, in the event of the Concessionaire being in material default or breach of this Agreement, it shall pay to the Lead ULB by way of compensation, all direct costs suffered or incurred by the Participating ULBs as a consequence of such material default, within 30 (thirty) days of receipt of the demand supported by necessary particulars thereof; provided that no compensation shall be payable under this Clause 26.1 for any breach or default in respect of which Damages are expressly specified and payable under this Agreement or for any consequential losses incurred by the Participating ULBs.
Appears in 1 contract
Sources: Concession Agreement