Common use of Handover of Site Clause in Contracts

Handover of Site. 11.2.1 Notwithstanding anything contained in Article 11.1 above, after fulfilment by the Developer of all the Conditions Precedent, Authority shall provide to the Developer right of way to the Site, for the exclusive purposes of undertaking the Commercial Development Project, in the following manner: (a) Authority and the Developer, shall, together with the relevant officials of the Railway, within such time as provided in the SCDA , undertake a joint inspection and prepare and execute a joint inventory (the “Joint Inventory for Site”) of the existing structures, assets and utilities on the Site, and shall further record their quality, condition, functionality, in accordance with the requirements of the Schedule 22 (Handover Protocol). (b) Based on the Joint Inventory, and the terms of the Schedule 22 (Handover Protocol), the Developer shall within 4 (four) weeks from the preparation of the Joint Inventory – Site or such other further date as provided in the SCDA, prepare and submit to Authority for its approval, a plan for the handover of the Site (“Handover Plan - Site”). Without prejudice to the terms of Schedule 22 (Handover Protocol), the Handover Plan - Site, and the phasing thereunder, shall duly take into account: (i) the requirement of relocation of the existing structures, assets and utilities (including the Occupied Redevelopment Areas) contemplated as a part of the Redevelopment Project; (ii) the requirement of minimal disruption/ interruption/ interference to present occupants and users of the Occupied Redevelopment Areas. Such Handover Plan – Site shall be subject to the approval of Authority, which may be given subject to any modification or amendments that Authority may deem appropriate. (c) Authority shall provide the right of way to the Site to the Developer in accordance with the approved Handover Plan - Site and the Parties shall execute a handing over note (substantially in the form set forth in Schedule 23 (Handover Note), in this regard setting out, in detail, the site inventory as on the date of such handing over of the right of way.

Handover of Site. 11.2.1 Notwithstanding anything contained in Article 11.1 above, after fulfilment by the Developer of all the Conditions Precedent, Authority IRSDC shall provide to the Developer right of way to the Site, for the exclusive purposes of undertaking the Commercial Development Project, in the following manner: (ai) Authority IRSDC and the Developer, shall, together with the relevant officials of the Railway, within such time as provided in the SCDA [insert] weeks of Effective Date, undertake a joint inspection and prepare and execute a joint inventory (the “Joint Inventory for - Site”) of the existing structures, assets and utilities on the Site, and shall further record their quality, condition, functionality, in accordance with the requirements of the Schedule 22 (Handover Protocol). (bii) Based on the Joint Inventory, and the terms of the Schedule 22 (Handover Protocol), the Developer shall within 4 (four) [insert] weeks from the preparation of the Joint Inventory – Site or such other further date as provided in the SCDA- Site, prepare and submit to Authority IRSDC for its approval, a plan for the handover of the Site (“Handover Plan - Site”). Without prejudice to the terms of Schedule 22 (Handover Protocol), the Handover Plan - Site, and the phasing thereunder, shall duly take into account: (ia) the requirement of relocation of the existing structures, assets and utilities (including the Occupied Redevelopment Areas) contemplated as a part of the Redevelopment Project; (iib) the requirement of minimal disruption/ interruption/ interference to present occupants and users of the Occupied Redevelopment Areas. ; Such Handover Plan – Site shall be subject to the approval of AuthorityIRSDC, which may be given subject to any modification or amendments that Authority IRSDC may deem appropriate. (ciii) Authority IRSDC shall provide the right of way to the Site to the Developer in accordance with the approved Handover Plan - Site and the Parties shall execute a handing over note (substantially in the form set forth in Schedule 23 (Handover Hand- Over Note), in this regard setting out, in detail, the site inventory as on the date of such handing over of the right of way. Provided that, the Parties agree and acknowledge that the Occupied Redevelopment Areas (and/ or relevant part thereof), shall continue to remain in use and occupation until such time, as the corresponding portions of the Redevelopment Project (and the Redevelopment Project Utilities), as set out in Schedule 2B (Scope of Redevelopment Project), have been duly completed (and the Completion Certificate issued in respect thereof), and handed over to IRSDC (with the issuance of the Vesting Certificate).