Common use of Selection to be binding Clause in Contracts

Selection to be binding. 3.5.1 The decision of the Lenders’ Representative and the Railway Administration in selection of the Nominated Company shall be final and binding on the Concessionaire and shall be deemed to have been made with the concurrence of the Concessionaire.. The Concessionaire irrevocably agrees and waives any right to challenge the actions of the Lenders’ Representative or the Lenders or the Railway Administration taken pursuant to this Agreement including the transfer/assignment of the Concession in favour of the Nominated Company. It is hereby acknowledged by the Parties that the rights of the Lenders’ Representative are irrevocable and shall not be contested in any proceedings before any court or Railway Administration and the Concessionaire shall have no right or remedy to prevent, obstruct or restrain the Railway Administration or the Lenders’ Representative from effecting or causing the transfer by substitution and endorsement of the Concession as requested by the Lenders’ Representative. 3.5.2 All actions of the Lenders’ Representative hereunder shall be deemed to be by and on behalf of, and expressly authorized by, the Lenders, and be binding upon them.

Selection to be binding. 3.5.1 The decision of the Lenders’ Representative and the Railway Administration in selection of the Nominated Company shall be final and binding on the Concessionaire AFTO and shall be deemed to have been made with the concurrence of the ConcessionaireAFTO.. The Concessionaire AFTO irrevocably agrees and waives any right to challenge the actions of the Lenders’ Representative or the Lenders or the Railway Administration taken pursuant to this Agreement including the transfer/assignment of the Concession in favour of the Nominated Company. It is hereby acknowledged by the Parties that the rights of the Lenders’ Representative are irrevocable and shall not be contested in any proceedings before any court or Railway Administration and the Concessionaire AFTO shall have no right or remedy to prevent, obstruct or restrain the Railway Administration or the Lenders’ Representative from effecting or causing the transfer by substitution and endorsement of the Concession as requested by the Lenders’ Representative. 3.5.2 All actions of the Lenders’ Representative hereunder shall be deemed to be by and on behalf of, and expressly authorized by, the Lenders, and be binding upon them.