Common use of Handover of the Project Site Clause in Contracts

Handover of the Project Site. 10.3.1 The Parties shall, within 7 (seven) days of the Authority notice in this behalf to the Concessionaire prior to Appointed Date, carry out through the Authority Representative and the Concessionaire, on a mutually agreed date and time, inspection of the Project Site and preparation of a memorandum containing an inventory of the Project Site including the vacant and unencumbered land, buildings, structures, road works, trees and any other immovable property on or attached to the Project Site. Signing of the memorandum, in two counterparts (each of which shall constitute an original), by the authorized representatives of the Parties shall, subject to the provisions of Clause 10.2.2 be deemed to constitute a valid license to the Concessionaire for free and unrestricted use and development of the vacant and unencumbered Project Site during the Concession Period under and in accordance with the provisions of this Agreement and for no other purpose whatsoever. 10.3.2 On and after signing the memorandum referred to in Clause 10.3.1, and until the Transfer Date, the Concessionaire shall maintain a round-the-clock ▇▇▇▇▇ over the Project Site and shall ensure and procure that no encroachment thereon takes place, and in the event of any encroachment or occupation on any part thereof, the Concessionaire shall report such encroachment or occupation forthwith to the Authority and undertake its removal at its cost and expenses. 10.3.3 Upon receiving the Access in respect of any land included in the Schedule A, the Concessionaire shall complete the Construction Works thereon within a reasonable period to be determined by the Independent Engineer in accordance with Good Industry Practice.