Common use of Extension of Concession Period Clause in Contracts

Extension of Concession Period. Subject to the provisions of Clause 30.4, in the event that a material breach or default of this Agreement set forth in Clause 30.2 causes delay in achieving COD or leads to reduction in the realisation of Gross Revenues, as the case may be, the Authority shall, in addition to payment of compensation under Clause 30.2, extend the Concession Period, such extension being equal in duration to the period by which COD was delayed or Gross Revenue was reduced on account thereof, as the case may be; and in the event of reduction in Gross Revenue to decline below 75% (seventy five per cent) of the Average Daily Gross Revenue for the corresponding period during the preceding 2 (two) years, the Authority shall, in addition to payment of compensation hereunder, extend the Concession Period in proportion to the loss of Gross Revenue. For avoidance of doubt, loss of 25% (twenty five per cent) in realisation of Gross Revenue for 4 (four) days, as compared to the Average Daily Gross Revenue for the corresponding period during the preceding 2 (two) years shall entitle the Concessionaire to extension of 1 (one) day in the Concession Period.

Extension of Concession Period. Subject to the provisions of Clause 30.4Article 22.4, in the event that a material breach or default of this Agreement set forth in Clause 30.2 Article 22.2 causes delay in achieving COD or leads to reduction in the realisation of Gross Revenues, as the case may be, the Authority shall, in addition to payment of compensation under Clause 30.2Article 22.2, extend the Concession Period, such extension being equal in duration to the period by which COD was delayed or Gross Revenue was reduced on account thereof, as the case may be; and in the event of reduction in Gross Revenue to decline below 75% (seventy five per cent) of the Average Daily Gross Revenue for the corresponding period during the preceding 2 (two) years, the Authority shall, in addition to payment of compensation hereunder, extend the Concession Period in proportion to the loss of Gross Revenue. For the avoidance of doubt, loss of 25% (twenty five per cent) in realisation of Gross Revenue for 4 (four) days, as compared to the Average Daily Gross Revenue for the corresponding period during the preceding 2 (two) years shall entitle the Concessionaire to extension of 1 (one) day in the Concession Period.

Extension of Concession Period. Subject to the provisions of Clause Article 30.4, in the event that a material breach or default of this Agreement set forth in Clause Article 30.2 causes delay in achieving COD or leads to reduction in the realisation of Gross Revenues, as the case may be, the Authority shall, in addition to payment of compensation under Clause Article 30.2, extend the Concession Period, such extension being equal in duration to the period by which COD was delayed or Gross Revenue was reduced on account thereof, as the case may be; and in the event of reduction in Gross Revenue to decline below [75% (seventy five per cent) )] of the Average Daily Gross Revenue for the corresponding period during the preceding [2 (two) )] years, the Authority shall, in addition to payment of compensation hereunder, extend the Concession Period in proportion to the loss of Gross Revenue. For the avoidance of doubt, loss of [25% (twenty five per cent) )] in realisation of Gross Revenue for [4 (four) )] days, as compared to the Average Daily Gross Revenue for the corresponding period during the preceding [2 (two) )] years shall entitle the Concessionaire to extension of [1 (one) )] day in the Concession Period.