Common use of Restriction on Sub-Leasing of Project Facilities Clause in Contracts

Restriction on Sub-Leasing of Project Facilities. 14.5.1 Subject to the other provisions contained in this Agreement, at any time during the Concession Period, the Concessionaire shall be allowed to sub-lease (to 3rd parties) only that portion of the Total FSI Area, for which proportionate instalments of Annuity has already been paid in full. 14.5.2 For instance, if an aggregate 50% of the total Annuity (as quoted by the Selected Bidder) has been paid by the Concessionaire till a reference date, the Concessionaire shall be eligible to sub-lease only upto 50% of the Total FSI Area as of the reference date, irrespective of the FSI Area actually constructed till such reference date.