The Concession Clause Samples

The Concession. 3.1.1 Subject to and in accordance with the provisions of this Agreement, the Applicable Laws and the Applicable Permits, the Authority hereby grants to the Concessionaire the concession set forth herein including the exclusive right, licence and authority to construct, operate and maintain the Commercial Complex for a period of 60 years and Bus terminal for a period of 35 years (the "Concession") commencing from the Appointed Date, and the Concessionaire hereby accepts the Concession and agrees to implement the Project subject to and in accordance with the terms and conditions set forth herein. Provided that in the event the Concessionaire shall have discharged its obligations without any material breach thereof (whether cured during the Cure Period or not) for the Concession Period, it shall participate in the competitive bidding process and shall have a right to match the financial bid of the highest ranked bidder in the event the Authority invites fresh bids for selection of a new concessionaire for the Commercial Complex after the expiry of the Concession Period of Commercial Complex by efflux of time. For the avoidance of doubt, material breach shall for the purposes hereof mean Suspension and/or cumulative levy of Damages exceeding a sum equivalent to Performance Security. It is expressly agreed between the Parties that the First Right of Refusal shall mean that the Concessionaire will have a right to match the financial bid of the highest ranked bidder only if the Concessionaire participates in such bidding process and its bid is within 10% of the highest ranked bidder. It is expressly agreed between the Parties that the terms and conditions for such additional period after the expiry of the Concession Period of Commercial Complex shall be determined by the Authority. Provided further that in the event Concessionaire successfully matches the financial bid of the bidder selected, if any, the Concessionaire shall have a right to undertake the Project for an additional period of 30 (thirty) years on the terms and conditions as specified in such bidding document. It is expressly agreed between the Parties, in the event, no bidder is selected through the competitive bidding process and/or no bidder participates in the process for undertaking the Project, as the case may be, the Concessionaire may, by notice to be given no later than the 180 days prior to the date of Termination of the Concession Agreement, by efflux of time, seek extension of the additi...

The Concession. 3.1.1 Subject to and in accordance with the provisions of this Agreement, the Applicable Laws and the Applicable Permits, the Authority hereby grants to the Concessionaire the concession set forth herein including the exclusive right, licence and authority to construct, operate and maintain the Project (the “Concession”) for a period of [32]4 years commencing from the Appointed Date, and the Concessionaire hereby accepts the Concession and agrees to implement the Project subject to and in accordance with the terms and conditions set forth herein. Provided that in the event the Concessionaire shall have discharged its obligations without any material breach thereof for a period of [32 (thirty)] years from the Appointed Date, it shall have a right of first refusal in the event the Authority invites fresh bids for selection of a new concessionaire after the expiry of the Concession Period by efflux of time. For the avoidance of doubt, material breach shall for the purposes hereof mean Suspension and/or cumulative levy of Damages exceeding a sum equivalent to Performance Security. It is expressly agreed between the Parties that the first right of refusal shall mean that the Concessionaire will have a right to match the financial bid of the bidder selected without itself participating in such bidding process, if any, for undertaking the Project through a competitive bidding, after the expiry of the Concession Period by efflux of time. It is expressly agreed between the Parties that the terms and conditions for such additional period of [30] years after the expiry of the Concession Period shall be determined by the Authority. Provided [further] that the in the event Concessionaire successfully matches the financial bid of the bidder selected, if any, the Concessionaire shall have a right to undertake the Project for an additional period of [30] years on the terms and conditions as specified in such bidding document. It is expressly agreed between the Parties, in the event, no bidder is selected through the competitive bidding process and/or no bidder participates in the process for undertaking the Project, as the case may be, the Concessionaire may by notice to be given no later than the [180] days from the date of Termination seek extension of the additional [30] years and in such an event, it may be entitled to an additional period of [30] years, at the discretion of the Authority on the terms and conditions. specified in this Concession Agreement 3.1.2 Subjec...

The Concession. 3.1.1 Subject to and in accordance with the provisions of this Agreement, the Applicable Laws and the Applicable Permits, the Authority hereby grants to the Concessionaire the concession set forth herein including the exclusive right, licence and Authority during the subsistence of this Agreement to construct, operate and maintain the Project (the “Concession”) for a period of [30 (thirty)] years commencing from the Appointed Date, and the Concessionaire hereby accepts the Concession and agrees to implement the Project subject to and in accordance with the terms and conditions set forth herein: 3.1.2 Subject to and in accordance with the provisions of this Agreement, the Concession hereby granted shall oblige or entitle (as the case may be) the Concessionaire to: (a) Right of Way, access and licence to the Site for the purpose of and to the extent conferred by the provisions of this Agreement; (b) finance and construct the Project Bus Port; (c) manage, operate and maintain the Project Bus Port and regulate the use thereof by third parties; (d) demand, collect and appropriate Fee from vehicles and persons liable for payment of Fee for using the Project Bus Port or any part thereof and refuse entry of any vehicle if the Fee due is not paid; (e) perform and fulfil all of the Concessionaire’s obligations under and in accordance with this Agreement; (f) bear and pay all costs, expenses and charges in connection with or incidental to the performance of the obligations of the Concessionaire under this Agreement; and (g) neither assign, transfer or sublet or create any lien or Encumbrance on this Agreement, or the Concession hereby granted or on the whole or any part of the Project Bus Port nor transfer, lease or part possession thereof, save and except as expressly permitted by this Agreement or the Substitution Agreement.

The Concession. 3.1.1 Subject to and in accordance with the provisions of this Agreement, Applicable laws and Applicable Permits, the Authority hereby grants to the Concessionaire the concession set forth herein including the exclusive right, license and authority to construct, operate and maintain the Project (the "Concession") during the Construction Period of 365 (Three Hundred Sixty Five) days and Operation Period of 8 (eight) years commencing from COD, and the Concessionaire hereby accepts the Concession and agrees to implement the Project subject to and in accordance with the terms and conditions set forth herein. 3.1.2 Subject to and in accordance with the provisions of this Agreement, the Concession hereby granted shall oblige or entitle (as the case may be) the Concessionaire to: (a) Right of Way, access and license to the Site for the purpose of and to the extent conferred by the provisions of this Agreement; (b) finance and construct the Project; (c) manage, operate and maintain the Project; (d) perform and fulfil all of the Concessionaire's obligations under and in accordance with this Agreement; (e) save as otherwise expressly provided in this Agreement, bear and pay all costs, expenses and charges in connection with or incidental to the performance of the obligations of the Concessionaire under this Agreement; and (f) neither assign, transfer or sublet or create any lien or encumbrance on this Agreement, or the Concession hereby granted or on the whole or any part of the Project nor transfer, lease or part possession thereof, save and except as expressly permitted by this Agreement or the Substitution Agreement.

The Concession. 3.1.1 Subject to and in accordance with the provisions of this Agreement, the Applicable Laws and the Applicable Permits, the Authority hereby grants to the Concessionaire the concession set forth herein including the exclusive right, licence and authority during the subsistence of this Agreement to construct, develop, operate and maintain the Project (the “Concession”). The Concession hereby granted shall be for a period of: (a) 35 (thirty five) years commencing from the Appointed Date in the form of Right of Way over the Site dedicated for Sports Infrastructure Project (minimum 80 acres out of total land area of 137 acres) (hereinafter referred to as the “Concession Period” (b) In consideration of construction, operation and maintenance of the Sports Infrastructure Project for the Concession Period and payment of Upfront Bid Value, the Authority shall provide balance land of about 57 acres on 99 (ninety nine) years for Real Estate Project commencing from the Appointed Date (hereinafter referred to as the “Lease Period”). Concession for Real Estate Project shall be in the form of lease for which a separate land lease agreement (“Land Lease Agreement”) shall be executed between the Authority and the Concessionaire, substantially as per the format provided in Schedule T. The Concessionaire hereby accepts the Concession and agrees to implement the Project subject to and in accordance with the terms and conditions set forth herein: 3.1.2 Subject to and in accordance with the provisions of this Agreement and Applicable Laws, the Concession hereby granted shall, without prejudice to the provisions of Article 3.1.1, entitle the Concessionaire to undertake Real Estate Project in the part of the Site other than that required for the Sports Infrastructure Project, as specified in Schedule A, subject to the conditions stipulated therein, and to exploit such development for commercial purposes and sub-license or sub- lease as the case may be, any or all parts thereof by means of Project Agreements. 3.1.3 The Authority shall facilitate and assist the Concessionaire in obtaining all approvals and Applicable Permits that may be required by the Concessionaire from any Government Instrumentality for the implementation, development, construction, operation and maintenance of the Project. The Authority will provide all reasonable support and assistance to the Concessionaire in procuring Applicable Permits as may be required from time to time, however the principal obligatio...

The Concession. Subject to and in accordance with the provisions of this Agreement, Applicable Laws and Applicable Permits, the Authority, awards to the Concessionaire the concession set forth herein including exclusive right, license and authority to augment, operate and maintain the District Hospital and provide Healthcare Services and design, finance, procure, construct, operate and maintain the Medical College (the “Concession”) during the Concession Period, and the Concessionaire hereby accepts the Concession and agrees to implement the Project subject to and in accordance with the terms and conditions set forth in this Agreement.

The Concession. Subject to and in accordance with the provisions of this Agreement, the Applicable Laws and the Applicable Permits, Maha-Metro hereby grants to the Concessionaire the concession set forth herein including the exclusive right, licence and authority to develop/construct, operate and maintain the Project (the “Concession”) for a period of 60 (sixty) years commencing from the Effective Date, and the Concessionaire hereby accepts the Concession and agrees to implement the Project subject to and in accordance with the terms and conditions set forth herein;

The Concession. 2.1. Details

The Concession. 3.1.1 Subject to and in accordance with the provisions of this Agreement, Applicable Laws and Applicable Permits, the Authority hereby grants to the Concessionaire the concession set forth herein including the exclusive right, licence and authority to construct, operate and maintain the Project (the “Concession”) during the Construction Period and for a period of 10 (ten) years commencing from COD, and the Concessionaire hereby accepts the Concession and agrees to implement the Project subject to and in accordance with the terms and conditions set forth herein. 3.1.2 Subject to and in accordance with the provisions of this Agreement, the Concession hereby granted shall oblige or entitle (as the case may be) the Concessionaire to; (a) Right of Way, access and licence to the Site for the purpose of and to the extent conferred by the provisions of this Agreement; (b) finance and construct the Project; (c) manage, operate and maintain the Project; (d) perform and fulfil all the Concessionaire‟s obligations under and in accordance with this Agreement;