Common use of Consequences of Non-fulfillment of Conditions Precedent Clause in Contracts

Consequences of Non-fulfillment of Conditions Precedent. 4.2.1 The Concessionaire hereby agrees and undertakes that it shall procure fulfillment of all Conditions Precedent set out in Clause 4.1.3, within 180 (one hundred and eighty) days from the date of this Agreement. In the event that (i) the Concessionaire does not procure fulfillment of any or all of the Conditions Precedent set forth in Clause 4.1.3, for any reason whatsoever, within 180 (one hundred and eighty) days from the date of this Agreement, and (ii) the delay has not occurred as a result of breach of this Agreement by the Authority or due to Force Majeure, the Concessionaire shall be entitled to a further period not exceeding 120 (one hundred and twenty) days, subject to payment of Damages to the Authority in a sum calculated at the rate of 0.1% (zero point one per cent) of the Construction Performance Security for each day of delay until the fulfillment of such Conditions Precedent; provided that the Damages specified herein shall be payable every week in advance and the period beyond the said 180 (one hundred and eighty) days shall be granted only to the extent of Damages so paid; [provided further that no Damages shall be payable if such delay in fulfillment of Conditions Precedent has occurred solely as a result of any default or delay by the Authority in procuring fulfillment of Conditions Precedent specified in Clause 4.1.2 or due to Force Majeure.] 4.2.2 Notwithstanding anything to the contrary contained in this Agreement, but subject to Clause 29.6.1, in the event that Conditions Precedent are not fulfilled, for any reason whatsoever, within the period set forth in this Clause 4.2.1, all rights, privileges, claims and entitlements of the Concessionaire under or arising out of this Agreement shall be deemed to have been waived by, and to have ceased with the concurrence of the Concessionaire, and the Agreement shall be deemed to have been terminated by mutual agreement of the Parties. 4.2.3 Upon Termination under Clause 4.2.2, the Authority shall be entitled to encash the Construction Performance Security and appropriate the proceeds thereof as Damages; provided, however, if fulfillment of Conditions Precedent set forth in Clause 4.1.3 has not been fulfilled by the Concessionaire within the period specified in respect thereof, solely as a result of the Authority being in default of any of its obligations under Clause 4.1.2, the Authority shall, upon Termination, return the Construction Performance Security to the Concessionaire.

Consequences of Non-fulfillment of Conditions Precedent. 4.2.1 The Concessionaire hereby agrees and undertakes that it shall procure fulfillment of all Conditions Precedent set out in Clause 4.1.3, within 180 (one hundred and eighty) days from the date of this Agreement. In the event that (i) the Concessionaire does not procure fulfillment fulfilment of any or all of the Conditions Precedent set forth in Clause 4.1.3, for any reason whatsoever, within 180 (one hundred and eighty) days from the date of this Agreement, and (ii) the delay has not occurred as a result of breach of this Agreement by the Authority or due to Force Majeure, the Concessionaire shall be entitled to a further period not exceeding 120 (one hundred and twenty) days, subject to payment of Damages to the Authority in a sum calculated at the rate of 0.1% (zero point one per cent) of the Construction Performance Security for each day of delay until the fulfillment fulfilment of such Conditions Precedent; provided that the Damages specified herein shall be payable every week in advance and the period beyond the said 180 (one hundred and eighty) days shall be granted only to the extent of Damages so paid; [provided further that no Damages shall be payable if such delay in fulfillment of Conditions Precedent has occurred solely as a result of any default or delay by the Authority in procuring fulfillment of Conditions Precedent specified in Clause 4.1.2 or due to Force Majeure.] 4.2.2 Notwithstanding anything to the contrary contained in this Agreement, but subject to Clause 29.6.1, in the event that Conditions Precedent are not fulfilled, for any reason whatsoever, within the period set forth in this Clause 4.2.1, all rights, privileges, claims and entitlements of the Concessionaire under or arising out of this Agreement shall be deemed to have been waived by, and to have ceased with the concurrence of the Concessionaire, and the Agreement shall be deemed to have been terminated by mutual agreement of the Parties. 4.2.3 Upon Termination under Clause 4.2.2, the Authority shall be entitled to encash the Construction Performance Security and appropriate the proceeds thereof as Damages; provided, however, if fulfillment of Conditions Precedent set forth in Clause 4.1.3 has not been fulfilled by the Concessionaire within the period specified in respect thereof, solely as a result of the Authority being in default of any of its obligations under Clause 4.1.2, the Authority shall, upon Termination, return the Construction Performance Security to the Concessionaire.

Consequences of Non-fulfillment of Conditions Precedent. Non-fulfillment of Conditions Precedent by the Concessionaire 4.2.1 The Concessionaire hereby agrees and undertakes that it shall procure fulfillment of all Conditions Precedent set out in Clause 4.1.3, within 180 (one hundred and eighty) days from the date of this Agreementperiod specified therein. In the event that (i) the Concessionaire does not procure fulfillment of any or all of the Conditions Precedent set forth in Clause 4.1.3, for any reason whatsoever, within 180 (one hundred and eighty) days from the date of this Agreementsuch period, and (ii) the delay has not occurred as a result of breach of this Agreement by the Authority or due to Force Majeure, the Concessionaire shall be entitled to a further period not exceeding 120 (one hundred and twenty) days, subject to payment of pay Damages to the Authority in a sum calculated at the rate of 0.10.3% (zero point one three per cent) of the Construction Performance Security for each day of delay until the fulfillment fulfilment of such Conditions Precedent; provided that the Damages specified herein shall be payable every week in advance and the period beyond the said 180 (one hundred and eighty) days shall be granted only subject to a maximum amount equal to the extent Bid Security, and upon reaching such maximum amount, the Authority may in its sole discretion and subject to the provisions of Damages so paid; [provided Clause 9.2 terminate this Agreement. Provided further that no Damages shall be due or payable by the Concessionaire under this Clause 4.2.1 if such delay in fulfillment of Conditions Precedent has occurred solely as a result of any default or delay by the Authority in procuring fulfillment of Conditions Precedent specified in Clause 4.1.2 or due to Force Majeure.] 4.2.2 Notwithstanding anything to the contrary contained in this Agreement, but subject to Clause 29.6.1, in the event that Conditions Precedent are not fulfilled, for any reason whatsoever, within the period set forth in this Clause 4.2.1, all rights, privileges, claims and entitlements of the Concessionaire under or arising out of this Agreement shall be deemed to have been waived by, and to have ceased with the concurrence of the Concessionaire, and the Agreement shall be deemed to have been terminated by mutual agreement of the Parties. 4.2.3 Upon Termination under Clause 4.2.24.2.1, the Authority shall be entitled to encash the Construction Performance Security and appropriate the proceeds thereof as Damages; provided, however, if fulfillment of Conditions Precedent set forth in Clause 4.1.3 has not been fulfilled by the Concessionaire within the period specified in respect thereof, solely as a result of the Authority being in default of any of its obligations under Clause 4.1.2, the Authority shall, upon Termination, return the Construction Performance Security to the Concessionaire. 4.2.3 In the event that the Authority does not procure fulfilment or waiver of any or all of the Conditions Precedent set forth in Clause 4.1.2 within the period specified in respect thereof, and the delay has not occurred as a result of breach of this Agreement by the Concessionaire or due to Force Majeure, the Authority shall pay to the Concessionaire Damages in an amount calculated at the rate of 0.2% (zero point two per cent) of the Performance Security for each day’s delay until the fulfilment of such Conditions Precedent, subject to a maximum amount equal to the Bid Security.

Consequences of Non-fulfillment of Conditions Precedent. 4.2.1 4.5.1 The Concessionaire hereby agrees and undertakes that it shall procure fulfillment of all Conditions Precedent set out in Clause 4.1.3, 4.2.1 within 180 120 (one hundred and eightytwenty) days from the date of this Agreement. In the event that (i) the Concessionaire does not procure fulfillment of any or all of the Conditions Precedent set forth in Clause 4.1.34.2.1, for any reason whatsoever, within 180 120 (one hundred and eightytwenty) days from the date of this Agreement, and (ii) the delay has not occurred as a result of breach of this Agreement by the Authority or due to Force Majeure, the Concessionaire shall be entitled to a further period not exceeding 120 90 (one hundred and twentyninety) days, subject to payment of Damages to the Authority in a sum calculated at the rate of 0.1% (zero point one per cent) of the Construction Performance Security for each day of delay until the fulfillment of such Conditions Precedent; provided that the Damages specified herein shall be payable every week in advance and the period beyond the said 180 120 (one hundred and eightytwenty) days shall be granted only to the extent of Damages so paid; [provided further that no Damages shall be payable if such delay in fulfillment of Conditions Precedent has occurred solely as a result of any default or delay by the Authority in procuring fulfillment of Conditions Precedent specified in Clause 4.1.2 or due to Force Majeure.] 4.2.2 Notwithstanding anything to the contrary contained in this Agreement, but subject to Clause 29.6.1, in the event that Conditions Precedent are not fulfilled, for any reason whatsoever, within the period set forth in this Clause 4.2.1, all rights, privileges, claims and entitlements of the Concessionaire under or arising out of this Agreement shall be deemed to have been waived by, and to have ceased with the concurrence of the Concessionaire, and the Agreement shall be deemed to have been terminated by mutual agreement of the Parties. 4.2.3 Upon Termination under Clause 4.2.2, the Authority shall be entitled to encash the Construction Performance Security and appropriate the proceeds thereof as Damages; provided, however, if fulfillment of Conditions Precedent set forth in Clause 4.1.3 has not been fulfilled by the Concessionaire within the period specified in respect thereof, solely as a result of the Authority being in default of any of its obligations under Clause 4.1.2, the Authority shall, upon Termination, return the Construction Performance Security to the Concessionaire.Clause

Consequences of Non-fulfillment of Conditions Precedent. 4.2.1 The Concessionaire hereby agrees and undertakes that it shall procure fulfillment of all Conditions Precedent set out in Clause 4.1.3, within 180 (one hundred and eighty) [•] days from the date of this Agreement. In the event that (i) the Concessionaire does not procure fulfillment of any or all of the Conditions Precedent set forth in Clause 4.1.3, for any reason whatsoever, within 180 (one hundred and eighty) [•] days from the date of this Agreement, and (ii) the delay has not occurred as a result of breach of this Agreement by the Authority or due to Force Majeure, the Concessionaire shall be entitled to a further period not exceeding 120 (one hundred and twenty) [•] days, subject to payment of Damages to the Authority in a sum calculated at the rate of 0.1% (zero point one per cent) of the Construction Performance Security for each day of delay until the fulfillment fulfilment of such Conditions Precedent; provided that the Damages specified herein shall be payable every week in advance and the period beyond the said 180 (one hundred and eighty) [•] days shall be granted only to the extent of Damages so paid; [provided further that no Damages shall be payable if such delay in fulfillment of Conditions Precedent has occurred solely as a result of any default or delay by the Authority in procuring fulfillment of Conditions Precedent specified in Clause 4.1.2 or due to Force Majeure.] 4.2.2 Notwithstanding anything to the contrary contained in this Agreement, but subject to Clause 29.6.1, in the event that Conditions Precedent are not fulfilled, for any reason whatsoever, within the period set forth in this Clause 4.2.1, all rights, privileges, claims and entitlements of the Concessionaire under or arising out of this Agreement shall be deemed to have been waived by, and to have ceased with the concurrence of the Concessionaire, and the Agreement shall be deemed to have been terminated by mutual agreement of the Parties. 4.2.3 Upon Termination under Clause 4.2.2, the Authority shall be entitled to encash the Construction Performance Security and appropriate the proceeds thereof as Damages; provided, however, if fulfillment of Conditions Precedent set forth in Clause 4.1.3 has not been fulfilled by the Concessionaire within the period specified in respect thereof, solely as a result of the Authority being in default of any of its obligations under Clause 4.1.2, the Authority shall, upon Termination, return the Construction Performance Security to the Concessionaire.

Consequences of Non-fulfillment of Conditions Precedent. 4.2.1 The Concessionaire hereby agrees and undertakes that it shall procure fulfillment of all Conditions Precedent set out in Clause 4.1.3, within 180 (one hundred and eighty) days from the date of this Agreement. In the event that (i) the Concessionaire does not procure fulfillment fulfilment of any or all of the Conditions Precedent set forth in Clause 4.1.3, for any reason whatsoever, within 180 (one hundred and eighty) days from the date of this Agreement, and (ii) the delay has not occurred as a result of breach of this Agreement by the Authority or due to Force Majeure, the Concessionaire shall be entitled to a further period not exceeding 120 (one hundred and twenty) days, subject to payment of Damages to the Authority in a sum calculated at the rate of 0.1% (zero point one per cent) of the Construction Performance Security for each day of delay until the fulfillment fulfilment of such Conditions Precedent; provided that the Damages specified herein shall be payable every week in advance and the period beyond the said 180 (one hundred and eighty) days shall be granted only to the extent of Damages so paid; [provided further that no Damages shall be payable if such delay in fulfillment fulfilment of Conditions Precedent has occurred solely as a result of any default or delay by the Authority in procuring fulfillment fulfilment of Conditions Precedent specified in Clause 4.1.2 or due to Force Majeure.] 4.2.2 Notwithstanding anything to the contrary contained in this Agreement, but subject to Clause 29.6.1, in the event that Conditions Precedent are not fulfilled, for any reason whatsoever, within the period set forth in this Clause 4.2.1, all rights, privileges, claims and entitlements of the Concessionaire under or arising out of this Agreement shall be deemed to have been waived by, and to have ceased with the concurrence of the Concessionaire, and the Agreement shall be deemed to have been terminated by mutual agreement of the Parties. 4.2.3 Upon Termination under Clause 4.2.2, the Authority shall be entitled to encash the Construction Performance Security and appropriate the proceeds thereof as Damages; provided, however, if fulfillment of fulfilmentof Conditions Precedent set forth in Clause 4.1.3 has not been fulfilled by the Concessionaire within the period specified in respect thereof, solely as a result of the Authority being in default of any of its obligations under Clause 4.1.2, the Authority shall, upon Termination, return the Construction Performance Security to the Concessionaire.