Common use of Grant of Permit Clause in Contracts

Grant of Permit. (a) Pursuant to the Act and subject to the terms and conditions of this Agreement, the Department grants to the Concessionaire the exclusive right, and the Concessionaire accepts the obligation (i) to finance, develop, design, construct, manage, operate and maintain the Project and (ii) to establish, impose, charge, collect, use and enforce payment of tolls and related charges (the “Permit”). (b) The Department’s grant of the Permit pursuant to Section 4.01(a), and the Concessionaire’s obligations with respect thereto pursuant to Section 4.01(a), are conditional upon Financial Close having occurred in accordance with Section 7.03; provided, however, that portions of the Work may be performed by the Concessionaire prior to Financial Close pursuant to Section 8.02. (c) In consideration of the Permit granted to the Concessionaire by the Department pursuant to this Section 4.01, the Concessionaire will perform the Work at its own expense except as otherwise provided herein and pay (to the extent required) to the Department the Assigned Gross Revenue and Refinancing Gain Share in accordance with the Assigned Gross Revenue and Refinancing Gain Share Calculation attached as Exhibit H; provided, however, that Refinancing Gains attributable to Planned Refinancings will not be subject to sharing under the Assigned Gross Revenue and Refinancing Gain Share Calculation. (d) The Department shall have the right to dispute the Concessionaire’s calculation of the Assigned Gross Revenue and Refinancing Gain Share or to request additional information, clarification or amendment of such calculation, at any time for a period of 60 days following the submission of any data furnished pursuant to the Assigned Gross Revenue and Refinancing Gain Share Calculation. The Concessionaire shall deliver to the Department such information, clarification or amendment within 30 Days following the delivery of the Department’s request. If the Department does not agree with the calculation of the Assigned Gross Revenue and Refinancing Gain Share, the Dispute shall be resolved according to the dispute resolution procedures described in Article 21. (e) The Concessionaire’s obligations to pay the Assigned Gross Revenue and Refinancing Gain Share shall survive the expiration of the Term. EXECUTION VERSION – DECEMBER 5, 2011

Grant of Permit. (a) Pursuant to the Act and subject to the terms and conditions of this Agreement, the Department grants to the Concessionaire the exclusive right, and the Concessionaire accepts the obligation (i) to finance, develop, design, construct, manage, operate and maintain the Project and (ii) to establish, impose, charge, collect, use and enforce payment of tolls and related charges (the “Permit”). (b) The Department’s grant of the Permit pursuant to Section 4.01(a), and the Concessionaire’s obligations with respect thereto pursuant to Section 4.01(a), are conditional upon Financial Close having occurred in accordance with Section 7.03; provided, however, that portions of the Work may be performed by the Concessionaire prior to Financial Close pursuant to Section 8.02. (c) In consideration of the Permit granted to the Concessionaire by the Department pursuant to this Section 4.01, the Concessionaire will perform the Work at its own expense except as otherwise provided herein and pay (to the extent required) to the Department the Assigned Gross Revenue and Refinancing Gain Share in accordance with the Assigned Gross Revenue and Refinancing Gain Share Calculation attached as Exhibit H; provided, however, that Refinancing Gains attributable to Planned Refinancings will not be subject to sharing under the Assigned Gross Revenue and Refinancing Gain Share Calculation. (d) The Department shall have the right to dispute the Concessionaire’s calculation of the Assigned Gross Revenue and Refinancing Gain Share or to request additional information, clarification or amendment of such calculation, at any time for a period of 60 days following the submission of any data furnished pursuant to the Assigned Gross Revenue and Refinancing Gain Share Calculation. The Concessionaire shall deliver to the Department such information, clarification or amendment within 30 Days following the delivery of the Department’s request. If the Department does not agree with the calculation of the Assigned Gross Revenue and Refinancing Gain Share, the Dispute shall be resolved according to the dispute resolution procedures described in Article 21. (e) The Concessionaire’s obligations to pay the Assigned Gross Revenue and Refinancing Gain Share shall survive the expiration of the Term. EXECUTION VERSION – DECEMBER 5, 2011.