Common use of Termination Payment for Force Majeure Event Clause in Contracts

Termination Payment for Force Majeure Event. Upon termination of this Agreement due to a Force Majeure Event, Termination Payment shall be made to the Concessionaire by the Authority in accordance with the following: 23.10.1 If Termination is on account of a Non-Political Event and Indirect Political Event, the Authority shall pay to the Concessionaire an amount equal to 90% (ninety percent) of the Debt Due, less Insurance Cover admitted and paid. Provided that the Debt Due shall in no case exceed 63% of the Total Project Cost. 23.10.2 If Termination is on account of a Political Event, the Authority shall pay to the Concessionaire: a) 100% of Debt Due (Debt Due shall in no case exceed 70% of Total Project Cost); b) Plus: 100% of Adjusted Equity; c) Less: Insurance Cover, provided that if any insurance claims forming part of the Insurance Cover are not admitted and paid, then 80% (eighty per cent) of such unpaid claims shall be included in the computation of the Debt Due. 23.10.3 The Termination Payments pursuant to this Article 23.10, shall become due and payable to the Concessionaire by the Concessioning Authority upon actual or constructive transfer of the Project Assets by the Concessionaire to the Authority free from all Encumbrances, charges and liens whatsoever, unless expressly directed by the Authority otherwise.

Termination Payment for Force Majeure Event. 23.10.1 Upon termination of this Agreement due to a Force Majeure Event, Termination Payment shall be made to the Concessionaire by the Authority in accordance with the following: 23.10.1 23.10.2 If Termination is on account of a Non-Political Event and Indirect Political Event, the Authority shall pay to the Concessionaire an amount equal to 90% (ninety percent) of the Debt Due, less Insurance Cover admitted and paid. Provided that the Debt Due shall in no case exceed 63% of the Total Project Cost.paid.6 23.10.2 23.10.3 If Termination is on account of a Political Event, the Authority shall pay to the Concessionaire:: 6 Provided that the Debt Due shall in no case exceed 70% of the Total Project Cost a) 100% of Debt Due (Debt Due shall in no case exceed 70% of Total Project Cost); b) Plus: 100% of Adjusted Equity; c) Less: Insurance Cover, provided that if any insurance claims forming part of the Insurance Cover are not admitted and paid, then 80% (eighty per cent) of such unpaid claims shall be included in the computation of the Debt Due. 23.10.3 23.10.4 The Termination Payments pursuant to this Article 23.10Article23.10, shall become due and payable to the Concessionaire by the Concessioning Authority upon actual or constructive transfer of the Project Assets by the Concessionaire to the Authority free from all Encumbrances, charges and liens whatsoever, unless expressly directed by the Authority otherwise.

Termination Payment for Force Majeure Event. 23.10.1 Upon termination of this Agreement due to a Force Majeure Event, Termination Payment shall be made to the Concessionaire by the Authority in accordance with the following: 23.10.1 23.10.2 If Termination is on account of a Non-Political Event and Indirect Political Event, the Authority shall pay to the Concessionaire an amount equal to 90% (ninety percent) of the Debt Due, less Insurance Cover admitted and paid. Provided that the Debt Due shall in no case exceed 63% of the Total Project Cost.paid.6 23.10.2 23.10.3 If Termination is on account of a Political Event, the Authority shall pay to the Concessionaire: a) 100% of Debt Due (Debt Due shall in no case exceed 70% of Total Project Cost); b) Plus: 100% of Adjusted Equity; c) Less: Insurance Cover, provided that if any insurance claims forming part of the Insurance Cover are not admitted and paid, then 80% (eighty per cent) of such unpaid claims shall be included in the computation of the Debt Due. 23.10.3 23.10.4 The Termination Payments pursuant to this Article 23.10Article23.10, shall become due and payable to the Concessionaire by the Concessioning Authority upon actual or constructive transfer of the Project Assets by the Concessionaire to the Authority free from all Encumbrances, charges 6 Provided that the Debt Due shall in no case exceed 70% of the Total Project Cost and liens whatsoever, unless expressly directed by the Authority otherwise.

Termination Payment for Force Majeure Event. Upon termination of this Agreement due to a Force Majeure Event, Termination Payment shall be made to the Concessionaire by the Authority in accordance with the following: 23.10.1 If Termination is on account of a Non-Political Event and Indirect Political Event, the Authority shall pay to the Concessionaire an amount equal to 90% (ninety percent) of the Debt Due, less Insurance Cover admitted and paid. Provided that the Debt Due such Termination Payment shall in no case exceed 6370% of the Total Project CostCost excluding optional project facilities. 23.10.2 If Termination is on account of a Political Event, the Authority shall pay to the Concessionaire: a) a. 100% of Debt Due (Debt Due Due, provided that such amount shall in no case exceed 70% of Total Project Cost)Cost excluding optional project facilities; b) b. Plus: 100% of Adjusted Equity; c) c. Less: Insurance Cover, provided that if any insurance claims forming part of the Insurance Cover are not admitted and paid, then 80% (eighty per cent) of such unpaid claims shall be included in the computation of the Debt Due. 23.10.3 The Termination Payments pursuant to this Article 23.10, shall become due and payable to the Concessionaire by the Concessioning Authority upon actual or constructive transfer of the Project Assets by the Concessionaire to the Authority free from all Encumbrances, charges and liens whatsoever, unless expressly directed by the Authority otherwise.