Common use of Determination of Concession Fee Clause in Contracts

Determination of Concession Fee. Notwithstanding anything to the contrary contained in this Agreement, the Concessionaire agrees and undertakes that the total Realisable Fee for the purposes of computing the Concession Fee under this Article 26 shall be determined on the express understanding that in the first year following the COD, the Realisable Fee shall be deemed to be the higher of (a) the actual Fee realised by the Concessionaire and (b) Rs. 100,00,00,000 (Rupees one hundred crore); and that the Realisable Fee for computing the Concession Fee for each subsequent year shall be deemed to be the higher of (a) the actual Fee and (b) 3% (three per cent) greater than the Realisable Fee reckoned hereunder in the immediately preceding year.