Sole purpose of the Concessionaire. The Concessionaire having been set up for the sole purpose of exercising the rights and observing and performing its obligations and liabilities under this Agreement, the Concessionaire or any of its subsidiaries shall not, except with the previous written consent of the Authority, be or become directly or indirectly engaged, concerned or interested in any business other than as envisaged herein.3 3Clause 5.8 may be omitted if a special purpose vehicle is not considered necessary for implementation of the Project, especially when the Project is comparatively small and can be implemented by an existing company of the selected bidder. In case Clause 5.8 is omitted, then Recitals E & F may also be omitted.
Appears in 3 contracts
Sources: Concession Agreement, Concession Agreement, Concession Agreement