Common use of Shareholding pattern of the Developer Clause in Contracts

Shareholding pattern of the Developer. The Developer incorporated an SPV on and its shareholding as on the Agreement Date is as follows: The Developer having been set up for the sole purpose to exercise the rights and observing and performing its obligations and liabilities under this Agreement, the Developer hereby undertakes and agrees to comply with the following conditions: In case the Successful Bidder is a Consortium, the members of the Consortium whose experience has been evaluated for the purposes of RFP, shall subscribe to at least 26% (twenty six per cent) or more of the paid up and subscribed equity of the SPV until 5th year from the Appointed Date. The Lead Member shall hold atleast 26% of the subscribed and paid up equity of the SPV at all times until the 5th year from the Appointed Date and The members of the Consortium shall collectively hold at least 51% (fifty one per cent) of the subscribed and paid up equity of the SPV at all times until the 5th year from the Appointed Date. Thereafter, until the expiry of the Agreement Period, the other members of the Consortium collectively, shall hold not less than 11% (eleven percent) of the subscribed and paid up equity share capital of the SPV and the Lead Member shall hold not less than 26% (twenty six percent) of the subscribed and paid up equity share capital of the SPV. Shareholding for single business entity In case the Successful Bidder is a single Entity, it shall hold at least 76% (seventy six percent) of subscribed and paid up equity share capital of the SPV to implement the Project, until the 5th year from the Appointed Date and hold at least 26% (twenty six percent) of subscribed and paid up equity share capital of the SPV thereafter throughout the Agreement Period

Shareholding pattern of the Developer. The Developer Successful Bidder has incorporated an SPV on and its shareholding as on the Agreement Date is as follows: .16 The Developer SPV having been set up for the sole purpose to exercise the rights and observing and performing its obligations and liabilities under this Agreement, the Developer hereby undertakes and agrees to comply with the following conditions: In case the Successful Bidder is a Consortium, the members of the Consortium whose experience has been evaluated for the purposes of RFP, Lead Member shall subscribe to at least 26% (twenty six per cent) or more of the paid up and subscribed equity of the SPV until 5th year the 16 Retain this clause only in case the Successful Bidder intends to form an SPV for the purpose of implementing the Project completion of 5 years from the Appointed Date. The Lead Member shall hold atleast 26% date of execution of the subscribed Project Development and paid up equity of the SPV at all times until the 5th year from the Appointed Date Management Agreement and The members of the Consortium shall collectively hold at least 51% (fifty one per cent) of the subscribed and paid up equity of the SPV at all times until the 5th year completion of 5 years from the Appointed Datedate of execution of the Project Development and Management Agreement. Thereafter, until the expiry of the Agreement Period, the other members of the Consortium collectivelyConsortium, shall hold not less than 11% (eleven percent) of the subscribed and paid up equity share capital of the SPV and the Lead Member shall hold not less than 26% (twenty six percent) of the subscribed and paid up equity share capital of the SPVSPV17. Shareholding for single business entity In case the Successful Bidder is a single Entity, it shall hold at least 76% (seventy six percent) of subscribed and paid up equity share capital of the SPV to implement the Project, until the 5th year from the Appointed Date and hold at least 26% (twenty six percent) of subscribed and paid up equity share capital of the SPV thereafter throughout the Agreement Period.