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 shall not, except with the previous written consent of the Concessioning Authority, be or become directly or indirectly engaged, concerned or interested in any business other than as envisaged herein. The Concessionaire shall not do or carry out any illegal trade or activities in the Project that are prohibited under the Applicable laws. A breach of the provisions contained herein by the Concessionaire shall constitute a Concessionaire Event of Default that shall entitle the Concessioning Authority to terminate the Agreement in accordance with the provisions hereof.. It is made absolutely clear that the Concessionaire will not use the land for any other purpose other than for which the components of concession are being granted.
Appears in 2 contracts
Sources: Concession Agreement, Concession Agreement