Common use of Condition Survey Clause in Contracts

Condition Survey. (a) The Operator agrees that at least 6 (six) Months prior to expiry by efflux of time of the Contract Period, it shall, cause to be conducted at its cost by an industry Expert appointed by Parties by mutual consent, a condition survey and an inventory of entire Project Facilities and Services. If, as a result of such survey, the industry Expert shall observe that the Terminal Assets and/or Project Facilities and Services or any part thereof have/has not been operated and maintained in accordance with requirements therefor under this Agreement (normal wear and tear excepted) the Operator shall, at its cost and expenses, take all necessary steps to put the same in good working condition well before the Transfer Date. In the event the Operator fails to comply with this provision, the Contracting Authority may itself cause the condition survey and inventory of the Terminal Assets and Project Facilities and Services to be conducted and remove any defect or deficiency. The Contracting Authority shall be promptly reimbursed by the Operator for costs incurred in conducting such survey and preparation of inventory as also in putting Project Facilities and Services in a good working condition. (b) The Operator shall as security for performance of its obligation in preceding sub- Article (a), submit to the Contracting Authority a guarantee issued by a scheduled bank in India for a sum of contract period for 6 (six) months from the expiry of the Contract Period. In the event of Operator’s failure to provide such guarantee, the same shall be deemed to be an Operator Event of Default and the Contracting Authority shall accordingly be entitled to terminate this Agreement in accordance with Article 15. This shall be over and above the Performance Guarantee submitted in accordance with Article 4.

Condition Survey. (a) The Operator agrees that on the service of a Termination Notice or at least 6 (six) Months months prior to the expiry by efflux of time of the Contract Agreement Period, as the case may be, it shall, shall conduct or cause to be conducted at its cost by an industry Expert appointed by Parties by mutual consentunder the Authority’s supervision, a condition survey of the Project Facilities and Services including the Project Site and/or the Port’s Assets to ascertain the condition thereof, verifying compliance with the Operator’s obligations under this Agreement and to prepare an inventory of entire the assets comprised in the Project Facilities and Services. During this period, the designated key personnel of the Authority shall be associated with the operations of the Project Facilities and Services (except when the same is impossible due to a Force Majeure Event) in order to facilitate smooth takeover of the same by the Authority on the Transfer Date. (b) If, as a result of such the condition survey, the industry Expert Authority shall observe observe/notice that the Terminal Project Site and/or the Port’s Assets and/or the Project Facilities and Services or any part thereof have/has not been operated and maintained in accordance with the requirements therefor under this Agreement (normal wear and tear excepted) the Operator shall, at its cost and expenses, take all necessary steps to put the same in good working condition conditions well before the Transfer Date. . (c) In the event the Operator fails to comply with the provisions of this provisionAgreement, the Contracting Authority may itself cause the condition survey and inventory of the Terminal Port’s Assets and the Project Facilities and Services to be conducted and remove any defect or deficiencyconducted. The Contracting Authority shall be promptly reimbursed compensated by the Operator for any costs incurred in conducting such survey and preparation of inventory as also in putting the Project Facilities and Services in a good working condition. (b) The Operator shall as security for performance of its obligation in preceding sub- Article (a), submit to the Contracting Authority a guarantee issued by a scheduled bank in India for a sum of contract period for 6 (six) months from the expiry of the Contract Period. In the event of Operator’s failure to provide such guarantee, the same shall be deemed to be an Operator Event of Default and the Contracting Authority shall accordingly be entitled to terminate this Agreement in accordance with Article 15. This shall be over and above the Performance Guarantee submitted in accordance with Article 4.

Condition Survey. (a) i. The Operator agrees that on the service of a Termination Notice or at least 6 (six) Months months prior to the expiry by efflux of time of the Contract Period, as the case may be, it shall, shall conduct or cause to be conducted at its cost by an industry Expert appointed by Parties by mutual consentunder the Contracting Authority’s supervision, a condition survey of the Project Facilities and Services including the Project Site and/or the Terminal Assets to ascertain the condition thereof, verifying compliance with the Operator’s obligations under this Contract Agreement and to prepare an inventory of entire the assets comprised in the Project Facilities and Services. During this period, the designated key personnel of the Contracting Authority shall be associated with the operations of the Project Facilities and Services (except when the same is impossible due to a Force Majeure Event) in order to facilitate smooth takeover of the same by the Contracting Authority on the Transfer Date. ii. If, as a result of such the condition survey, the industry Expert Contracting Authority shall observe observe/notice that the Project Site and/or the Terminal Assets and/or the Project Facilities and Services or any part thereof have/has not been operated and maintained in accordance with the requirements therefor under this Contract Agreement (normal wear and tear excepted) the Operator shall, at its cost and expenses, take all necessary steps to put the same in good working condition conditions well before the Transfer Date. iii. In the event the Operator fails to comply with the provisions of this provisionContract Agreement, the Contracting Authority may itself cause the condition survey and inventory of the Terminal Assets and the Project Facilities and Services to be conducted and remove any defect or deficiencyconducted. The Contracting Authority shall be promptly reimbursed compensated by the Operator for any costs incurred in conducting such survey and preparation of inventory as also in putting the Project Facilities and Services in a good working condition. (b) The Operator shall as security for performance of its obligation in preceding sub- Article (a), submit to the Contracting Authority a guarantee issued by a scheduled bank in India for a sum of contract period for 6 (six) months from the expiry of the Contract Period. In the event of Operator’s failure to provide such guarantee, the same shall be deemed to be an Operator Event of Default and the Contracting Authority shall accordingly be entitled to terminate this Agreement in accordance with Article 15. This shall be over and above the Performance Guarantee submitted in accordance with Article 4.