Common use of Termination for Concessionaire Event of Default Clause in Contracts

Termination for Concessionaire Event of Default. a. Without prejudice to any other right or remedy which the Authority may have in respect thereof under this Agreement, upon the occurrence of a Concessionaire Event of Default, the Authority may immediately terminate this Agreement by issue of Termination Notice in the manner set out under Clause 15.3.1 (b). b. If the Authority decides to terminate this Agreement pursuant to preceding Clause 15.3.1 (a), it shall in the first instance issue notice of intention to terminate to the Concessionaire. Within 30 days of receipt of the notice of intention to terminate, the Concessionaire shall submit to the Authority in sufficient detail, the manner in which it proposes to cure the underlying Event of Default (the “Concessionaire's Proposal to Rectify”). In case of non-submission of the Concessionaire's Proposal to Rectify within the said period of 30 days, the Authority shall be entitled to terminate this Agreement by issuing termination notice ("Termination Notice"). c. If the Concessionaire's Proposal to Rectify is submitted within the period stipulated there for, the Authority shall have further period of 60 days (the “Cure Period”) to remedy/ cure the underlying Event of Default. If, however the Concessionaire fails to remedy/ cure the underlying Event of Default within such further period allowed, the Authority shall be entitled to terminate this Agreement, by issue of Termination Notice.

Termination for Concessionaire Event of Default. a. i. Without prejudice to any other right or remedy which the Concessioning Authority may have in respect thereof under this Agreement, upon the occurrence of a Concessionaire Event of Default, the Concessioning Authority may immediately shall be entitled to terminate this Agreement by issue of Termination Notice in the manner as set out under Clause 15.3.1 (bArticle 6.2(a)(ii) and Article 6.2(a)(iii). b. ii. If the Concessioning Authority decides to terminate this Agreement pursuant to preceding Clause 15.3.1 (ai), it shall in the first instance issue notice of intention “Preliminary Notice to terminate Remedy” to the Concessionaire. Within Concessionaire and within 30 (Thirty) days of receipt of the notice of intention Prelimin ary Notice to terminateRemedy, the Concessionaire shall submit to the Concessioning Authority in sufficient detail, the manner in which it proposes to cure the underlying Event of Default (the “Concessionaire's Proposal to Rectify”” ). In case of non-submission of the Concessionaire's Proposal to Rectify within the said period of 30 (Thirty) days, the Concessioning Authority shall be entitled to terminate this Agreement by issuing termination notice ("the Termination Notice"). c. iii. If the Concessionaire's Proposal to Rectify is submitted within the th e period stipulated there fortherefore, the Authority Concessionaire shall have further period of 60 90 (Ninety) days (the “Cure Period”) to remedy/ cure the underlying Event of Default. If, however the Concessionaire fails to remedy/ cure the underlying Event of Default within such further period allowed, the Authority shall be entitled to terminate this Agreement, by issue of Termination Notice.Cure

Termination for Concessionaire Event of Default. a. i. Without prejudice to any other right or remedy which the Concessioning Authority may have in respect thereof under this Agreement, upon the occurrence of a Concessionaire Event of Default, Concessioning Auth ority shall be entitled to terminate the Authority may immediately terminate this Agreement by issue of Termination Notice in the manner as set out under Clause 15.3.1 (bArticle 6.2(a)(ii) and Article 6.2(a)(iii). b. ii. If the Concessioning Authority decides to terminate this the Agreement pursuant to preceding Clause 15.3.1 (ai), it shall in the first instance issue notice of intention “Preliminary Notice to terminate Remedy” to the Concessionaire. Within Concessionaire and within 30 (Thirty) days of receipt of the notice of intention Preliminary Notice to terminateRemedy, the Concessionaire shall submit to the Concessioning Authority in sufficient detail, the manner in which it proposes to cure the underlying Event of Default (the “Concessionaire's Proposal to Rectify”” ). In case of non-submission of the Concessionaire's Proposal to Rectify within the said period of 30 (Thirty) days, the Concessioning Authority shall be entitled to terminate this the Agreement by issuing termination notice ("the Termination Notice"). c. iii. If the Concessionaire's Proposal to Rectify is submitted within the period stipulated there fortherefore, the Authority Concessionaire shall have further period of 60 90 (Ninety) days (the “Cure Period”) to remedy/ cure the underlying Event of Default. If, however the Concessionaire fails to remedy/ cure the underlying Event of Default within such further period allowed, the Authority shall be entitled to terminate this Agreement, by issue of Termination Notice.Cure

Termination for Concessionaire Event of Default. a. (i) Without prejudice to any other right or remedy which the Authority BNN may have in respect thereof under this Agreement, upon the occurrence of a Concessionaire Event of Default, BNN shall be entitled to terminate this Agreement in the Authority manner as set out under this agreement. Provided however that upon the occurrence of a Concessionaire Event of Default as specified under this agreement, BNN may immediately terminate this Agreement by issue of Termination Notice in the manner set out under Clause 15.3.1 (b)this agreement. b. (ii) If the Authority BNN decides to terminate this Agreement pursuant to preceding Clause 15.3.1 clause 10.1 (ai), it shall in the first instance issue notice of intention to terminate Preliminary Notice to the Concessionaire. Within 30 thirty (30) days of receipt of the notice of intention to terminatePreliminary Notice, the Concessionaire shall submit to the Authority BNN in sufficient detail, the manner in which it proposes to cure the underlying Event of Default (the “Concessionaire's Proposal to Rectify”). In case of non-submission of the Concessionaire's Proposal to Rectify within the said period of 30 days, the Authority BNN shall be entitled to terminate this Agreement by issuing termination notice ("Termination Notice"). c. If the Concessionaire's Proposal to Rectify is submitted within the period stipulated there for, the Authority shall have further period of 60 days (the “Cure Period”) to remedy/ cure the underlying Event of Default. If, however the Concessionaire fails to remedy/ cure the underlying Event of Default within such further period allowed, the Authority shall be entitled to terminate this Agreement, by issue of Termination Notice.