Common use of Condition Survey Clause in Contracts

Condition Survey. i. The Concessionaire agrees that on the service of a Termination Notice or 6 (six) months prior to the expiry of the Concession Period by efflux of time, it shall conduct or cause to be conducted by an Expert under Concessioning Authority’s supervision, a condition survey of the Project, Project Facilities and the Project Assets to ascertain the condition thereof, verifying compliance with the Concessionaire’s obligations under this Agreement and to prepare an inventory of the assets comprised in the Project. ii. If, as a result of the condition survey, the Concessioning Authority shall observe/notice that the Project or Project Facilities or the Project Assets or any part thereof has/have not been operated and maintained in accordance with the requirements therefore under this Agreement (normal wear and tear excepted) the Concessionaire shall, at its cost and expenses, take all necessary steps to put the same in good working conditions well before the Transfer Date. iii. In the event the Concessionaire fails to comply with the provisions of this Clause (1) of Article 12, the Concessioning Authority may itself cause the condition survey and inventory of the Project, Project Facilities and the Project Assets to be conducted. The Concessioning Authority shall be compensated by the Concessionaire for any costs incurred in conducting such survey and preparation of inventory as also in putting the Project, Project Facilities and the Project Assets in good working condition.