Common use of Divestment Requirements Clause in Contracts

Divestment Requirements. 28.1.1 Upon Termination, the Concessionaire shall comply with and conform to the following Divestment Requirements: (a) notify to Maha-Metro forthwith the location and particulars of all Project Assets; (b) deliver forthwith the actual or constructive possession of the Project, free and clear of all Encumbrances; (c) cure all Project Assets, including the road (internal or external, as applicable), structures and equipment, of all defects and deficiencies so that the Project is compliant with the Maintenance Requirements; provided that in the event of Termination during the Construction Period, all Project Assets shall be handed over on ‘as is where is’ basis after bringing them to a safe condition; (d) deliver and transfer relevant records, reports, Intellectual Property and other licences pertaining to the Project and its design, engineering, construction, operation and maintenance, including all programmes and manuals pertaining thereto, and complete ‘as built’ Drawings as on the Transfer Date. For the avoidance of doubt, the Concessionaire represents and warrants that the Intellectual Property delivered hereunder shall be adequate and complete for the design, engineering, construction, operation and maintenance of the Project and shall be assigned to Maha-Metro free of any encumbrance; (e) transfer and/or deliver all Applicable Permits to the extent permissible under Applicable Laws;