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 obligation for obtaining the Applicable Permits shall be that of the Concessionaire. 3.1.4 The Concessionaire cannot transfer or vest title or give possession (on assignment, license or any other basis) in relation to the Real Estate Project or any part thereof prior to the COD of the Sports Infrastructure Project. Achieving COD for the Sports Infrastructure Project Facilities in accordance with this Agreement is a pre-condition to the right of the Concessionaire to create any sublease or other rights in the Real Estate Project or provide possession of Real Estate Project to third parties through any contractual arrangements. Provided however, the Concessionaire can accept bookings and obtain advance payments in relation to Real Estate Project, after bringing this limitation to the notice of such third parties. 3.1.5 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, licence and lease, as the case may be to the Site for the purpose of and to the extent conferred by the provisions of this Agreement; (b) investigate, study, design, engineer, procure, finance the Project ; (c) develop and construct the Project ; (d) manage, operate and maintain the Project and regulate the use thereof by third parties; (e) demand, collect and appropriate Fee from Users liable for payment of Fee for using the Sports Infrastructure Project or any part thereof and refuse entry of any User if the Fee due is not paid; (f) ensure optimal management, operation, development and maintenance of the Project throughout the Concession Period, either by performing the operation and maintenance itself, or by engaging an O&M Contractor.; (g) license or sublicense, part or whole of the Real Estate Project and appropriate the proceeds of such license or sublicense in accordance with the terms of this Agreement. All revenue and expenditure for Real Estate Project shall accrue to the Concessionaire. (h) 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 (i) not assign, transfer or create any lien, charge or Encumbrance on this Agreement or the Concession hereby granted or on the whole or any part of the Project nor transfer, license or part possession thereof, save and except as expressly permitted by this Agreement or the Substitution Agreement. Provided further that the Concessionaire can create any lien, charge, mortgage or Encumbrance on the part or whole of the Real Estate Project and on the Site allocated for Real Estate Project. However, in the event of any default by the Concessionaire upto the COD, all the rights of all the lenders with respect to the Site for Real Estate Project shall be subject to Authority’s unfettered rights under Articles 31, 33 and 34 and the Authority may at its absolute discretion terminate this Agreement, Land Lease Agreement and all other agreements and take back the entire Site from the Concessionaire free from all Encumbrances without payment of any amount/compensation to the Concessionaire and/or to the Lenders.
Appears in 1 contract
Sources: Concession Agreement
The Concession. 3.1.1 Subject to and in accordance with the provisions terms and conditions set forth in this Agreement, the Authority hereby grants to the Concessionaire and the Concessionaire hereby accepts the Concession for a period of 40 (forty) years (the “Concession Period”) commencing from the Compliance Date / Effective Date.
3.1.2 Subject to and in accordance with the terms and conditions set forth in this Agreement, the Applicable Laws and the Applicable Permits, the Authority hereby grants Concessionaire undertakes:
a. to the Concessionaire the concession set forth herein including the exclusive right, licence develop and authority during the subsistence of this Agreement to construct, develop, operate and maintain implement the Project (as per the “Concession”). The Scope of Work as mentioned in Article 2 and Schedule III of the Concession hereby granted shall be for a period of:Agreement;
(a) 35 (thirty five) years commencing from the Appointed Date in the form of b. to enjoy complete and uninterrupted access and Right of Way over and right to use the Project 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 in pursuance of the Sports Infrastructure declaration of license granted in favour of the Concessionaire by the Authority;
c. to have access and liberty to develop, upgrade, maintain and operate the Project for Facilities during 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 Concession 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 & Schedules hereof. Any upgradation or development for commercial purposes and sub-license or sub- lease as the case may be, any or all parts thereof done by means of Project Agreements.
3.1.3 The Authority shall facilitate and assist the Concessionaire in obtaining all approvals form of any structures or fixtures on the Project Site in respect of the Project shall be deemed to be the property of the Authority and Applicable Permits that may be required by the Concessionaire from any Government Instrumentality for the implementation, development, construction, operation and maintenance relinquishes all its rights in such property in favour of the Project. The Authority will provide all reasonable support Authority;
d. to enjoy exclusive right and assistance authority to carry out the Concessionaire in procuring Applicable Permits as may be required from time to time, however the principal obligation for obtaining the Applicable Permits shall be that of the Concessionaire.
3.1.4 The Concessionaire cannot transfer or vest title or give possession (on assignment, license or any other basis) activities in relation to the Real Estate Hotel strictly as specified in the Concession Agreement during the Concession Period;
e. To sub‐license the use of the Project or any part thereof prior to the COD vendors and thereupon determine, demand, levy, collect, enforce, retain and appropriate charges periodically and revise the same in conformity with the prevailing market rates. Within the limitations of statutory provisions of the Sports Infrastructure Project. Achieving COD for the Sports Infrastructure Project Facilities in accordance with this Agreement is a pre-condition to the right of the Concessionaire to create any sublease or other rights in the Real Estate Project or provide possession of Real Estate Project to third parties through any contractual arrangements. Provided howeverApplicable Laws and Good Industry Practice, the Concessionaire can accept bookings and obtain advance payments in relation shall make all the efforts to Real Estate Project, after bringing this limitation to maximize the notice of such third parties.
3.1.5 Subject to and in accordance with earnings from 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, licence and lease, as the case may be to the Site for the purpose of associated operations and to keep the extent conferred by the provisions Authority informed of this Agreementactions taken and results thereof;
(b) investigate, study, design, engineer, procure, finance the Project ;
(c) develop and construct the Project ;
(d) f. to manage, operate and maintain the Project and regulate the use thereof by third parties;
(e) demand, collect and appropriate Fee from Users liable for payment of Fee for using the Sports Infrastructure Project or any part thereof and refuse entry of any User if the Fee due is not paid;
(f) ensure optimal management, operation, development and maintenance of the Project throughout the Concession Period, either by performing the operation and maintenance itself, or by engaging an O&M Contractor.;
(g) license or sublicense, part or whole of the Real Estate Project and appropriate the proceeds of such license or sublicense in accordance with the terms of this Agreement. All revenue and expenditure for Real Estate Project shall accrue to the Concessionaire.
(h) bear and pay exercise rights over all costs, expenses and charges in connection with or incidental to the performance of the obligations of the Concessionaire under this Agreement; and
(i) not assign, transfer or create any lien, charge or Encumbrance on this Agreement or the Concession hereby granted or on the whole or any part of the Project nor Assets without limitation or restriction other than those expressly set out in this Concession Agreement;
g. to fulfill its obligations under this Agreement, undertake activities either by itself or through subcontracting arrangements and to appoint contractors, subcontractors (the “Subcontractor(s)”), agents, advisors and consultants without in any way relieving the Concessionaire of its obligations as set out in this Agreement;
h. to arrange for all the Applicable Permits and Clearances including CLU (if required) from the Competent Authorities for the development of the Project and the Authority shall in no way be liable for the same. Responsibility of getting all necessary approvals pertaining to upgradation lies with the Concessionaire. Nevertheless, the Authority, without any binding obligation may provide any assistance upon written request from the Concessionaire on best effort basis;
i. to exercise such other rights as the Authority may determine being necessary or desirable for the purposes incidental and necessary for upgrading, operating, & maintaining the Project; and
j. to bear and pay all expenses, costs and charges incurred for fulfillment of all the Concessionaire’s obligations as set out under this Agreement.
k. Nothing contained hereinabove, including the act of granting permission to complete the Project at the designated Project Site shall vest or create any proprietary interest in the Project/Project Land or any part thereof including any permanent fixtures, fittings etc. installed in the Project in favor of the Concessionaire or any person claiming through or under the Concessionaire. The Concessionaire shall not in any manner sell, transfer, license or part possession thereofassign, save and except as expressly permitted by this Agreement or the Substitution Agreement. Provided further that the Concessionaire can create any lienmortgage, charge, mortgage create lien or Encumbrance on otherwise encumber or deal with the part Project / Project Land / or whole any other movable / immovable assets in any manner whatsoever. The Concessionaire acknowledges, accepts and confirms that the covenant contained herein is an essence of the Real Estate Project and on the Site allocated for Real Estate Project. However, in the event of any default by the Concessionaire upto the COD, all the rights of all the lenders with respect to the Site for Real Estate Project shall be subject to Authority’s unfettered rights under Articles 31, 33 and 34 and the Authority may at its absolute discretion terminate this Agreement, Land Lease Agreement and all other agreements and take back the entire Site from the Concessionaire free from all Encumbrances without payment of any amount/compensation to the Concessionaire and/or to the Lenders.
Appears in 1 contract
Sources: Concession 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 Concessioning Authority hereby grants to the Concessionaire the concession Concession set forth herein including the exclusive right, licence and authority during the subsistence of this Agreement to construct, developupgrade, operate and maintain the Project (the “Concession”). The Concession hereby granted shall be ) for a period of:
of 5 (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 constructionDate, 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 obligation for obtaining the Applicable Permits shall be that of the Concessionaire.
3.1.4 The Concessionaire cannot transfer or vest title or give possession (on assignment, license or any other basis) in relation to the Real Estate Project or any part thereof prior to the COD of the Sports Infrastructure Project. Achieving COD for the Sports Infrastructure Project Facilities in accordance with this Agreement is a pre-condition to the right of the Concessionaire to create any sublease or other rights in the Real Estate Project or provide possession of Real Estate Project to third parties through any contractual arrangements. Provided however, the Concessionaire can accept bookings and obtain advance payments in relation to Real Estate Project, after bringing this limitation to the notice of such third parties.
3.1.5 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, licence upgrade the Trauma Centre and lease, as the case may be to the Site for the purpose of and to the extent conferred by the provisions of this Agreementmake it operational;
(b) investigate, study, design, engineer, procure, finance the Project ;
(c) develop and construct the Project ;
(d) manage, operate and maintain the Project Trauma Centre and regulate the use thereof by third parties;
(ec) demand, collect perform and appropriate Fee from Users liable for payment fulfil all of Fee for using the Sports Infrastructure Project or any part thereof Concessionaire’s obligations under and refuse entry of any User if the Fee due is not paidin accordance with this Agreement;
(f) ensure optimal management, operation, development and maintenance of the Project throughout the Concession Period, either by performing the operation and maintenance itself, or by engaging an O&M Contractor.;
(g) license or sublicense, part or whole of the Real Estate Project and appropriate the proceeds of such license or sublicense in accordance with the terms of this Agreement. All revenue and expenditure for Real Estate Project shall accrue to the Concessionaire.
(hd) 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;
(e) transfer the Trauma Centre to the Concessioning Authority or its nominated agency upon Termination of this Agreement, in accordance with the provisions thereof; and
(if) not assign, transfer or sublet or create any lien, charge lien or Encumbrance on this Agreement Agreement, or the Concession hereby granted or on the whole or any part of the Project Trauma Centre nor transfer, license lease or part possession thereof, save and except as expressly permitted by this Agreement or Agreement.
3.1.3 Upon the Substitution Agreement. Provided further that the Concessionaire can create any lien, charge, mortgage or Encumbrance on the part or whole expiry of the Real Estate Project aforesaid Concession Period (and on not in case of any premature Termination), the Site allocated for Real Estate ProjectConcessioning Authority/ Government, at its sole discretion, shall have the right to retain or re-plan the existing project structure. However, the Concessioning Authority/ Confirming Party shall have the discretionary right to extend the existing Concession Period to a further period of 5 (five) years, subject to the satisfactory performance of the Concessionaire’s duties/ obligations as laid down in the event of any default by the Concessionaire upto the COD, all the rights of all the lenders with respect to the Site for Real Estate Project shall be subject to Authority’s unfettered rights under Articles 31, 33 and 34 and the Authority may at its absolute discretion terminate this Concession Agreement, Land Lease Agreement and all other agreements and take back the entire Site from the Concessionaire free from all Encumbrances without payment of any amount/compensation to the Concessionaire and/or to the Lenders.
Appears in 1 contract
Sources: Concession 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 license and authority during the subsistence of this Agreement to constructdemand, developcollect and appropriate Fee, operate operate, manage and maintain the Project Road (the “Concession”). The Concession hereby granted shall be ) subject to and in accordance with terms hereof, for a period of:
of 30 (a) 35 (thirty fivethirty) 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:. Notwithstanding anything to the contrary in this Agreement, the Parties expressly agree that the Concession Period shall not be reduced by more than 5 (five) years or shall not be increased by more than 10 (ten) years on any account or for any reason whatsoever.
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 obligation for obtaining the Applicable Permits shall be that of the Concessionaire.
3.1.4 The Concessionaire cannot transfer or vest title or give possession (on assignment, license or any other basis) in relation to the Real Estate Project or any part thereof prior to the COD of the Sports Infrastructure Project. Achieving COD for the Sports Infrastructure Project Facilities in accordance with this Agreement is a pre-condition to the right of the Concessionaire to create any sublease or other rights in the Real Estate Project or provide possession of Real Estate Project to third parties through any contractual arrangements. Provided however, the Concessionaire can accept bookings and obtain advance payments in relation to Real Estate Project, after bringing this limitation to the notice of such third parties.
3.1.5 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, licence access and lease, as the case may be license to the Site for the purpose of and to the extent conferred by the provisions of this Agreement;
(b) investigate, study, design, engineer, procure, finance the Project ;
(c) develop and construct the Project ;
(d) manage, operate and maintain the Project Road and regulate the use thereof by third partiesparties in accordance with terms hereof;
(ec) demand, collect and appropriate Fee from vehicles and Users liable for payment of Fee for using the Sports Infrastructure Project Road or any part thereof and refuse entry of any User vehicle if the Fee due is not paid;
(fd) ensure optimal management, operation, development perform and maintenance fulfill all of the Project throughout the Concession Period, either by performing the operation Concessionaire’s obligations under and maintenance itself, or by engaging an O&M Contractor.in accordance with this Agreement;
(g) license or sublicense, part or whole of the Real Estate Project and appropriate the proceeds of such license or sublicense in accordance with the terms of this Agreement. All revenue and expenditure for Real Estate Project shall accrue to the Concessionaire.
(he) 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
(if) not neither assign, transfer or sublet or create any lien, charge lien or Encumbrance on this Agreement Agreement, or the Concession hereby granted or on the whole or any part of the Project Road nor transfer, license lease or part possession thereof, save and except as expressly permitted by this Agreement.
3.1.3 The provisions in relation to the Escrow Account in this Agreement or shall only be applicable if the Substitution Agreement. Provided further that obligations of the Concessionaire can create any lien, charge, mortgage or Encumbrance on the part or whole of the Real Estate Project and on the Site allocated for Real Estate Project. However, in the event of any default under this Agreement are financed by the Concessionaire upto the COD, all the rights of all the lenders with respect to the Site for Real Estate Project shall be subject to Authority’s unfettered rights under Articles 31, 33 and 34 and the Authority may at its absolute discretion terminate this Agreement, Land Lease Agreement and all other agreements and take back the entire Site from the Concessionaire free from all Encumbrances without payment of any amount/compensation to the Concessionaire and/or to the Lenders.
Appears in 1 contract
Sources: Concession 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 Concessionaire, the concession set forth herein including the exclusive right, licence license and authority during the subsistence of this Agreement to constructdesign, developbuilt, finance, operate and maintain the Project (the “"Concession”). The Concession hereby granted shall be ") for a period of:
period, unless terminated earlier in terms of this Agreement, of 60 (a) 35 (thirty fivesixty) 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 constructionDate, 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:. The aforesaid Concession Period is inclusive of the Construction Period and development of the Site.
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 obligation for obtaining the Applicable Permits shall be that of the Concessionaire.
3.1.4 The Concessionaire cannot transfer or vest title or give possession (on assignment, license or any other basis) in relation to the Real Estate Project or any part thereof prior to the COD of the Sports Infrastructure Project. Achieving COD for the Sports Infrastructure Project Facilities in accordance with this Agreement is a pre-condition to the right of the Concessionaire to create any sublease or other rights in the Real Estate Project or provide possession of Real Estate Project to third parties through any contractual arrangements. Provided however, the Concessionaire can accept bookings and obtain advance payments in relation to Real Estate Project, after bringing this limitation to the notice of such third parties.
3.1.5 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, licence possession and lease, as license in respect of the case may be to land comprising the Site for the purpose of and to the extent conferred by the provisions of this Agreement;Project Site.
(b) investigate, study, design, engineer, procure, finance and construct the Project and Project Facilities in terms of this Agreement, guidelines stated in the Detailed Project Report as approved under the Forest Clearance of the project, applicable development and building norms under Punjab Eco-Tourism Policy, 2009 (as amended from time to time), operational guideline of Ministry of Tourism, MoEF&CC, State Pollution Control Board etc., building bye-laws and other applicable rules, regulations for development of the Project and adhere to instructions/ guidelines/conditions mentioned in the Environment Clearance and Forest Clearance approvals granted by the Govt. of India;
(c) develop have liberty to plan, design, construct, finance, maintain and construct operate the Project ;
and Project Facilities during the Concession Period in accordance with the provisions of this Concession Agreement, Applicable Law & Applicable Permits including the terms and conditions of the Environmental Clearance granted by State Level Environment Impact Assessment Authority Punjab vide ref no. SEIAA/2017/67 dated 23.01.2017 and Stage-1 Forest Clearance granted by the Ministry of Environment & Forest & Climate Change vide letter dated 10.08.2020 (d) manageStage-2 Forest Clearance when obtained would also be required to be followed strictly by the Concessionaire), operate and maintain the Project and regulate the use thereof by third parties. The Concessionaire shall adopt eco-friendly practices in constructing, developing, operating and managing the Project;
(ed) demand, collect and appropriate Fee User Charges from Users persons liable for payment of User Charges/ Fee for using the Sports Infrastructure Project Facilities or any part thereof thereof;
(e) perform and refuse entry fulfill all of any User if the Fee due is not paidConcessionaire's obligations under and in accordance with this Agreement;
(f) ensure optimal management, operation, development and maintenance of the Project throughout the Concession Period, either by performing the operation and maintenance itself, or by engaging an O&M Contractor.;
(g) license or sublicense, part or whole of the Real Estate Project and appropriate the proceeds of such license or sublicense in accordance with the terms of this Agreement. All revenue and expenditure for Real Estate Project shall accrue to the Concessionaire.
(h) 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
(ig) not assign, transfer or create any lien, charge lien or Encumbrance on this Agreement Agreement, or the Concession hereby granted or on the whole or any part of the Project and Project Facilities nor transfer, license license/ sub-license, or part possession thereof, save and except andexcept as expressly permitted by this Agreement or the Substitution Agreement. Provided further that .
3.1.3 At the Concessionaire can create any lien, charge, mortgage or Encumbrance on the part or whole end of the Real Estate Concession Period by efflux of time, the Authority could either operate the Project itself or may re-bid the same by suitably re-defining or re-structuring the Project parameters at its sole discretion.
3.1.4 The Concessionaire has the right to brand, market and on promote the Site allocated for Real Estate Project. However, Project in the event of any default by the Concessionaire upto the COD, all the rights of all the lenders with respect to the Site for Real Estate Project shall be subject to Authority’s unfettered rights under Articles 31, 33 and 34 and the Authority may at its absolute discretion terminate this Agreement, Land Lease Agreement and all other agreements and take back the entire Site from the Concessionaire free from all Encumbrances without payment of any amount/compensation to the Concessionaire and/or to the Lendersmanner it deems fit.
Appears in 1 contract
Sources: Concession Agreement
The Concession. 3.1.1 Subject to and in accordance with the provisions of this Agreement, the Applicable Laws and Laws, the Applicable PermitsPermits and Good Industry Practice, the Authority hereby grants to the Concessionaire and the concession set forth herein including Concessionaire hereby accepts the exclusive right, licence license and authority during the subsistence of this Agreement to constructplan, develop, operate design, engineer, monitor, procure, finance, equip, operate, maintain and maintain manage the Project at the Site (the “Concession”). The Concession hereby granted shall be ) and provide Testing Services for a period of:
of [20 (atwenty) 35 (thirty five) years years], commencing from the Appointed Date in and ending on the form of Right of Way over the Site dedicated for Sports Infrastructure Project Transfer Date (minimum 80 acres out of total land area of 137 acres) (hereinafter referred to as the “Concession Period”
(b) In consideration of construction), operation which includes construction and maintenance up gradation of the Sports Infrastructure Project for Facilities and to exercise and/or enjoy the Concession Period rights, power, privileges 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 entitlements as the “Lease Period”). Concession for Real Estate Project shall be set forth in the form of lease for which a separate land lease agreement (“Land Lease Agreement”) shall be executed between the Authority this Agreement 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 . [Provided that the Concessionaire shall, at any time no earlier than 5 (five) years, but no later than 3 (three) years prior to the completion of the aforesaid Concession Period of 20 (twenty) years, upon issuing a notice to the Authority, be entitled to an additional Concession Period of [10 (ten) years] on the terms and conditions set out herein 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 AgreementsClause 35.7.]
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 obligation for obtaining the Applicable Permits shall be that of the Concessionaire.
3.1.4 The Concessionaire cannot transfer or vest title or give possession (on assignment, license or any other basis) in relation to the Real Estate Project or any part thereof prior to the COD of the Sports Infrastructure Project. Achieving COD for the Sports Infrastructure Project Facilities in accordance with this Agreement is a pre-condition to the right of the Concessionaire to create any sublease or other rights in the Real Estate Project or provide possession of Real Estate Project to third parties through any contractual arrangements. Provided however, the Concessionaire can accept bookings and obtain advance payments in relation to Real Estate Project, after bringing this limitation to the notice of such third parties.
3.1.5 3.1.2 Subject to and in accordance with the provisions of this Agreement, the Concession hereby granted shall entitle or oblige or entitle (as the case may be) the Concessionaire to undertake the following in accordance with the provisions of Applicable Laws and Applicable Permits, during the Concession Period to:
(a) [procure land, as per specifications laid down in the RFP and this Agreement on registered ownership or [under registered lease or registered license for such duration that the Concessionaire has a continued right to use the land during the Concession Period] for the construction and operation of the Project]3;
(b) [Right of Way, access, licence access and lease, as the case may be license to the Site for the purpose of and to the extent conferred by the provisions of this Agreement;
(b) investigate, study, design, engineer, procure, finance the Project Agreement]4;
(c) develop plan, design, develop, procure, construct, finance, upgrade, equip, operate, maintain and construct manage the Project Facilities as per the terms and conditions of this Agreement including Specifications and Standards, Applicable Laws, Applicable Permits and Good Industry Practice and transfer the same to the Authority or its nominated agency on the expiry or the early termination of the Concession Period;
(d) manageperform and fulfill all of the Concessionaire’s obligations in accordance with this Agreement including Specifications and Standards, operate Applicable Laws, Applicable Permits and maintain the Project and regulate the use thereof by third partiesGood Industry Practice;
(e) demandon and from the Commercial Operation Date and until the Transfer Date, collect and appropriate Fee from Users liable for payment of Fee for using the Sports Infrastructure Project or any part thereof and refuse entry of any User if Concessionaire shall have the Fee due is not paid;
(f) ensure optimal management, operation, development and maintenance of the Project throughout the Concession Period, either by performing the operation and maintenance itself, or by engaging an O&M Contractor.;
(g) license or sublicense, part or whole of the Real Estate Project and appropriate the proceeds of such license or sublicense right to receive Testing Charges in accordance with the terms provisions of this Agreement. All revenue and expenditure for Real Estate Project shall accrue to the Concessionaire.
(h) 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
(i) not assign, transfer or create any lien, charge or Encumbrance on this Agreement or the Concession hereby granted or on the whole or any part of the Project nor transfer, license or part possession thereof, save and except as expressly permitted by this Agreement or the Substitution Agreement. Provided further that the Concessionaire can create any lien, charge, mortgage or Encumbrance on the part or whole of the Real Estate Project and on the Site allocated for Real Estate Project. However, in the event of any default by the Concessionaire upto the COD, all the rights of all the lenders with respect to the Site for Real Estate Project shall be subject to Authority’s unfettered rights under Articles 31, 33 and 34 and the Authority may at its absolute discretion terminate this Agreement, Land Lease Agreement and all other agreements and take back the entire Site from the Concessionaire free from all Encumbrances without payment of any amount/compensation to the Concessionaire and/or to the Lenders.;
Appears in 1 contract
Sources: Concession Agreement
The Concession. 3.1.1 Subject to and in accordance with the provisions terms and conditions set forth in this Agreement, the Authority hereby grants to the Concessionaire and the Concessionaire hereby accepts the Concession for a period of 50 (fifty) years (the “Concession Period”) commencing from the Compliance Date / Effective Date. The Concessionaire shall be allowed “First Right of Refusal” after the Concession Completion Date subject to satisfactory performance and payments to the Authority.
3.1.2 Subject to and in accordance with the terms and conditions set forth in this Agreement, the Applicable Laws and the Applicable Permits, the Authority hereby grants Concessionaire undertakes:
a. to the Concessionaire the concession set forth herein including the exclusive right, licence develop and authority during the subsistence of this Agreement to construct, develop, operate and maintain implement the Project (as per the “Concession”). The Scope of Work as mentioned in Article 2 and Schedule III of the Concession hereby granted shall be for a period of:Agreement;
(a) 35 (thirty five) years commencing from the Appointed Date in the form of b. to enjoy complete and uninterrupted access and Right of Way over and right to use the Project 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 in pursuance of the Sports Infrastructure declaration of license granted in favour of the Concessionaire by the Authority;
c. to have access and liberty to develop, upgrade, maintain and operate the Project for Facilities during 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 Concession 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 & Schedules hereof. Any upgradation or development for commercial purposes and sub-license or sub- lease as the case may be, any or all parts thereof done by means of Project Agreements.
3.1.3 The Authority shall facilitate and assist the Concessionaire in obtaining all approvals form of any structures or fixtures on the Project Site in respect of the Project shall be deemed to be the property of the Authority and Applicable Permits that may be required by the Concessionaire from any Government Instrumentality for the implementation, development, construction, operation and maintenance relinquishes all its rights in such property in favour of the Project. The Authority will provide all reasonable support Authority;
d. to enjoy exclusive right and assistance authority to carry out the Concessionaire in procuring Applicable Permits as may be required from time to time, however the principal obligation for obtaining the Applicable Permits shall be that of the Concessionaire.
3.1.4 The Concessionaire cannot transfer or vest title or give possession (on assignment, license or any other basis) activities in relation to the Real Estate Hotel strictly as specified in the Concession Agreement during the Concession Period;
e. To sub-license the use of the Project or any part thereof prior to the COD vendors and thereupon determine, demand, levy, collect, enforce, retain and appropriate charges periodically and revise the same in conformity with the prevailing market rates. Within the limitations of statutory provisions of the Sports Infrastructure Project. Achieving COD for the Sports Infrastructure Project Facilities in accordance with this Agreement is a pre-condition to the right of the Concessionaire to create any sublease or other rights in the Real Estate Project or provide possession of Real Estate Project to third parties through any contractual arrangements. Provided howeverApplicable Laws and Good Industry Practice, the Concessionaire can accept bookings and obtain advance payments in relation shall make all the efforts to Real Estate Project, after bringing this limitation to maximize the notice of such third parties.
3.1.5 Subject to and in accordance with earnings from 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, licence and lease, as the case may be to the Site for the purpose of associated operations and to keep the extent conferred by the provisions Authority informed of this Agreementactions taken and results thereof;
(b) investigate, study, design, engineer, procure, finance the Project ;
(c) develop and construct the Project ;
(d) f. to manage, operate and maintain the Project and regulate the use thereof by third parties;
(e) demand, collect and appropriate Fee from Users liable for payment of Fee for using the Sports Infrastructure Project or any part thereof and refuse entry of any User if the Fee due is not paid;
(f) ensure optimal management, operation, development and maintenance of the Project throughout the Concession Period, either by performing the operation and maintenance itself, or by engaging an O&M Contractor.;
(g) license or sublicense, part or whole of the Real Estate Project and appropriate the proceeds of such license or sublicense in accordance with the terms of this Agreement. All revenue and expenditure for Real Estate Project shall accrue to the Concessionaire.
(h) bear and pay exercise rights over all costs, expenses and charges in connection with or incidental to the performance of the obligations of the Concessionaire under this Agreement; and
(i) not assign, transfer or create any lien, charge or Encumbrance on this Agreement or the Concession hereby granted or on the whole or any part of the Project nor Assets without limitation or restriction other than those expressly set out in this Concession Agreement;
g. to fulfill its obligations under this Agreement, undertake activities either by itself or through subcontracting arrangements and to appoint contractors, subcontractors (the “Subcontractor(s)”), agents, advisors and consultants without in any way relieving the Concessionaire of its obligations as set out in this Agreement;
h. to arrange for all the Applicable Permits and Clearances including CLU (if required) from the Competent Authorities for the development of the Project and the Authority shall in no way be liable for the same. Responsibility of getting all necessary approvals pertaining to upgradation lies with the Concessionaire. Nevertheless, the Authority, without any binding obligation may provide any assistance upon written request from the Concessionaire on best effort basis;
i. to exercise such other rights as the Authority may determine being necessary or desirable for the purposes incidental and necessary for upgrading, operating, & maintaining the Project; and
j. to bear and pay all expenses, costs and charges incurred for fulfillment of all the Concessionaire’s obligations as set out under this Agreement.
k. Nothing contained hereinabove, including the act of granting permission to complete the Project at the designated Project Site shall vest or create any proprietary interest in the Project/Project Land or any part thereof including any permanent fixtures, fittings etc. installed in the Project in favor of the Concessionaire or any person claiming through or under the Concessionaire. The Concessionaire shall not in any manner sell, transfer, license or part possession thereofassign, save and except as expressly permitted by this Agreement or the Substitution Agreement. Provided further that the Concessionaire can create any lienmortgage, charge, mortgage create lien or Encumbrance on otherwise encumber or deal with the part Project / Project Land / or whole any other movable / immovable assets in any manner whatsoever. The Concessionaire acknowledges, accepts and confirms that the covenant contained herein is an essence of the Real Estate Project and on the Site allocated for Real Estate Project. However, in the event of any default by the Concessionaire upto the COD, all the rights of all the lenders with respect to the Site for Real Estate Project shall be subject to Authority’s unfettered rights under Articles 31, 33 and 34 and the Authority may at its absolute discretion terminate this Agreement, Land Lease Agreement and all other agreements and take back the entire Site from the Concessionaire free from all Encumbrances without payment of any amount/compensation to the Concessionaire and/or to the Lenders.
Appears in 1 contract
Sources: Concession 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 constructInstallation, develop, operate and maintain the Project Operation & maintenance CT Scan /MRI centres (the “Concession”). The Concession hereby granted shall be ) for a period of:
of 10 (a) 35 (thirty fiveTen) years commencing from the Appointed Date in the form of Right Letter 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”Acceptance(L.O.A.)
(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 obligation for obtaining the Applicable Permits shall be that of the Concessionaire.
3.1.4 The Concessionaire cannot transfer or vest title or give possession (on assignment, license or any other basis) in relation to the Real Estate Project or any part thereof prior to the COD of the Sports Infrastructure Project. Achieving COD for the Sports Infrastructure Project Facilities in accordance with this Agreement is a pre-condition to the right of the Concessionaire to create any sublease or other rights in the Real Estate Project or provide possession of Real Estate Project to third parties through any contractual arrangements. Provided however, the Concessionaire can accept bookings and obtain advance payments in relation to Real Estate Project, after bringing this limitation to the notice of such third parties.
3.1.5 3.1.1 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 Wayway, access, access and licence and lease, as the case may be to the Site Project Sites for the purpose of and to the extent conferred by the provisions of this Agreement;
(b) investigate, study, design, engineer, procure, finance Implement the Project as per the provisions of this Agreement;
(c) develop Procure and construct install brand new C T SCAN , MRI ,SONOGRAPHY,ECHO CARDIOGRAPHY Equipment in the Project Diagnostic centres and operate, maintain, and manage the Diagnostic centres either by itself or through O&M Contractor(s) during the Concession Period;
(d) manageExclusive right and authority, operate during the Concession Period, to carry out the C T SCAN , MRI ,SONOGRAPHY,ECHO CARDIOGRAPHY Tests as listed in Schedule 3 – Scope of Services in accordance with the provisions of the Concession Agreement and maintain Good Industry Practices including activities incidental to the Project and regulate the use thereof by third partiessame;
(e) demandDemand, collect and appropriate Fee from Users liable for payment MCGM rates as per the provisions of Fee for using the Sports Infrastructure Project or any part thereof and refuse entry of any User if the Fee due is not paidthis Concession Agreement;
(f) ensure optimal management, operation, development Perform and maintenance fulfil all of the Project throughout the Concession Period, either by performing the operation Concessionaire‟s obligations under and maintenance itself, or by engaging an O&M Contractor.;
(g) license or sublicense, part or whole of the Real Estate Project and appropriate the proceeds of such license or sublicense in accordance with the terms of this Agreement. All revenue and expenditure for Real Estate Project shall accrue to the Concessionaire.;
(hg) bear 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;
(ih) not Neither assign, transfer or sublet or create any lien, charge lien or Encumbrance on this Agreement Agreement, or the Concession hereby granted or on the whole or any part of the Project Diagnostic centres nor transfer, license lease or part possession thereof, save and except as expressly permitted by this Agreement or the Substitution Agreement. Provided further ; and
i) Access the common areas, facilities and infrastructure at the Project Sites and the Hospitals, as long as such right to access is limited to the extent that the Concessionaire can create any lien, charge, mortgage or Encumbrance on the part or whole it is used for treatment and benefit of the Real Estate Project and on patients. The Authority reserves the Site allocated for Real Estate Project. However, in the event of any default by the Concessionaire upto the COD, all the rights of all the lenders with respect right to the Site for Real Estate Project shall be subject to Authority’s unfettered rights under Articles 31, 33 and 34 and the Authority may at its absolute discretion terminate this Agreement, Land Lease Agreement and all other agreements and take back the entire Site collect a user fee from the Concessionaire free from all Encumbrances without payment for use of any amount/compensation to the Concessionaire and/or to the Lenderscertain facilities (for example – parking).
Appears in 1 contract
Sources: Concession 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 Concessionaire, the concession set forth herein including the exclusive right, licence license 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:
period, unless terminated earlier in terms of this Agreement, of 60 (a) 35 (thirty fivesixty) 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 constructionDate, 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:. The aforesaid Concession Period is inclusive of the Construction Period and development of {Phase I & Phase II of Site 1 and entire development of Site 2}3.
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 obligation for obtaining the Applicable Permits shall be that of the Concessionaire.
3.1.4 The Concessionaire cannot transfer or vest title or give possession (on assignment, license or any other basis) in relation to the Real Estate Project or any part thereof prior to the COD of the Sports Infrastructure Project. Achieving COD for the Sports Infrastructure Project Facilities in accordance with this Agreement is a pre-condition to the right of the Concessionaire to create any sublease or other rights in the Real Estate Project or provide possession of Real Estate Project to third parties through any contractual arrangements. Provided however, the Concessionaire can accept bookings and obtain advance payments in relation to Real Estate Project, after bringing this limitation to the notice of such third parties.
3.1.5 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, licence possession and lease, as license in respect of the case may be to land comprising the Site for the purpose of and to the extent conferred by the provisions of this Agreement;Project Site.
(b) investigate, study, design, engineer, procure, finance and construct the Project and Project Facilities in terms of this Agreement, guidelines stated in the Detailed Project Report as approved under the Forest Clearance of the project, applicable development and building norms under Punjab Eco-Tourism Policy, 2009 (as amended from time to time), operational guideline of Ministry of Tourism, MoEF&CC, State Pollution Control Board etc., building bye-laws and other applicable rules, regulations for development of the Project and adhere to instructions/ guidelines/conditions mentioned in the Environment Clearance and Forest Clearance approvals granted by the Govt. of India;
(c) develop have liberty to plan, design, construct, finance, maintain and construct operate the Project ;
and Project Facilities during the Concession Period in accordance with the provisions of this Concession Agreement, Applicable Law &Applicable Permits including the terms and conditions of the Environmental Clearance granted by State Level Environment Impact Assessment Authority Punjab vide ref no. SEIAA/2017/67 dated 23.01.2017 and Stage-1 Forest Clearance granted by the Ministry of Environment & Forest & Climate Change vide letter dated 10.08.2020 (d) manageStage-2 Forest Clearance when obtained would also be required to be followed strictly by the Concessionaire), operate and maintain the Project and regulate the use thereof by third parties. The Concessionaire shall adopt eco-friendly practices in constructing, developing, operating and managing the Project;
(ed) demand, collect and appropriate Fee User Charges from Users persons liable for payment of User Charges/ Fee for using the Sports Infrastructure Project Facilities or any part thereof and refuse entry of any User if the Fee due is not paidthereof;
(f) ensure optimal management, operation, development and maintenance of the Project throughout the Concession Period, either by performing the operation and maintenance itself, or by engaging an O&M Contractor.;
(g) license or sublicense, part or whole of the Real Estate Project and appropriate the proceeds of such license or sublicense in accordance with the terms of this Agreement. All revenue and expenditure for Real Estate Project shall accrue to the Concessionaire.
(h) 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
(i) not assign, transfer or create any lien, charge or Encumbrance on this Agreement or the Concession hereby granted or on the whole or any part of the Project nor transfer, license or part possession thereof, save and except as expressly permitted by this Agreement or the Substitution Agreement. Provided further that the Concessionaire can create any lien, charge, mortgage or Encumbrance on the part or whole of the Real Estate Project and on the Site allocated for Real Estate Project. However, in the event of any default by the Concessionaire upto the COD, all the rights of all the lenders with respect to the Site for Real Estate Project shall be subject to Authority’s unfettered rights under Articles 31, 33 and 34 and the Authority may at its absolute discretion terminate this Agreement, Land Lease Agreement and all other agreements and take back the entire Site from the Concessionaire free from all Encumbrances without payment of any amount/compensation to the Concessionaire and/or to the Lenders.
Appears in 1 contract
Sources: Concession 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 appoints the Concessionaire and grants an exclusive right and power to undertake civil works for developing Additional Project Facilities, operation and maintenance of Existing Project Facilities and Project Facilities within the concession set forth herein including Service Area in conformity with the exclusive rightCIP, licence the technical specifications and authority during the subsistence of this Agreement to construct, develop, operate and maintain the Project Key Performance Indicators (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:herein and agrees to provide water supply services within the Service Area during the Initial Operation Period and the Operation Period.
3.1.2 Subject to and in accordance with the provisions of this Agreement and Applicable LawsAgreement, the an exclusive Concession is 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 obligation for obtaining the Applicable Permits shall be that of the Concessionaire.
3.1.4 The Concessionaire cannot transfer or vest title or give possession (on assignment, license or any other basis) in relation to the Real Estate Project or any part thereof prior to the COD of the Sports Infrastructure Project. Achieving COD for the Sports Infrastructure Project Facilities in accordance with this Agreement is a pre-condition to the right of the Concessionaire to create any sublease or other rights in the Real Estate Project or provide possession of Real Estate Project to third parties through any contractual arrangements. Provided however, the Concessionaire can accept bookings and obtain advance payments in relation to Real Estate Project, after bringing this limitation to the notice of such third parties.
3.1.5 Subject to and in accordance with the provisions of this Agreement, the Concession hereby granted which shall oblige or entitle (as the case may be) the Concessionaire to:
(a) access and license to the Service Area during the Study Period;
(b) Right of Way, access, licence and lease, as the case may be Way to the Site Service Area during the Construction Period and the Operation Period for the purpose of and to the extent conferred by the provisions of this Agreement;
(b) investigate, study, design, engineer, procure, finance the Project ;
(c) develop obtain finance and construct perform the Project Project;
(d) construct the Additional Project Facilities during the Construction Period;
(e) manage, operate and maintain the Existing Project Facilities and regulate the use thereof by third parties;
(e) demand, collect and appropriate Fee from Users liable for payment of Fee for using the Sports Infrastructure Project or any part thereof and refuse entry of any User if the Fee due is not paidFacilities;
(f) ensure optimal management, operation, development perform and maintenance fulfil all of the Project throughout the Concession Period, either by performing the operation Concessionaire’s obligations under and maintenance itself, or by engaging an O&M Contractor.in accordance with this Agreement;
(g) license or sublicense, part or whole of the Real Estate Project and appropriate the proceeds of such license or sublicense save as otherwise expressly provided in accordance with the terms of this Agreement. All revenue and expenditure for Real Estate Project shall accrue to the Concessionaire.
(h) , 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;
(ih) not neither assign, transfer or sublet or create any lien, charge lien or Encumbrance encumbrance on this Agreement Agreement, or the Concession hereby granted or on the whole or any part of the Existing Project Facilities or the Additional Project Facilities nor transfer, license lease or part possession thereof, save and except to the Senior Lenders and the Contractors as expressly permitted by this Agreement or Agreement;
(i) on and from the Substitution Agreementcommencement of the Preliminary Operation Period the operations and maintenance of the Existing Project Facilities to the Concessionaire; and
(j) collect User Charges from the Users of the Existing Project Facilities during the Preliminary Operation Period, the Initial Operation Period, along with the Additional Project Facilities during the Operation Period. Provided further It is understood by the Parties that the Concessionaire can create any lien, charge, mortgage or Encumbrance on the part or whole ownership of the Real Estate Project and on Facilities shall, throughout the Site allocated for Real Estate Project. HoweverTerm of the Agreement, in the event of any default by the Concessionaire upto the COD, all the rights of all the lenders remain with respect to the Site for Real Estate Project shall be subject to Authority’s unfettered rights under Articles 31, 33 and 34 and the Authority may at its absolute discretion terminate this Agreementand is neither intended to be transferred, Land Lease Agreement and all other agreements and take back the entire Site from the Concessionaire free from all Encumbrances without payment of nor being transferred in any amount/compensation manner to the Concessionaire and/or to the Lendersby or under this Agreement.
Appears in 1 contract
Sources: Concession Agreement
The Concession. 3.1.1 Subject to and in accordance with the provisions of this Agreement, the Applicable Laws and Laws, the Applicable PermitsPermits and Good Industry Practice, the Authority hereby grants to the Concessionaire and the concession set forth herein including Concessionaire hereby accepts the exclusive right, licence license and authority during the subsistence of this Agreement to constructDesign, developFinance, operate Construct, Operate and maintain Maintain the Project at the Offered Area (the “Concession”). The Concession hereby granted shall be ) and provide Services for a period of:
of Concession Period of 30 years (a) 35 Thirty), further extendable up to 15 years (thirty five) years Fifteen), commencing from the Appointed Date in and ending on the form Transfer Date, including any extension thereto as may be granted by the Authority as per the terms of Right of Way over the Site dedicated for Sports Infrastructure Project this Agreement (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 which includes construction of the Sports Infrastructure Project for Assets and to exercise and/or enjoy the Concession Period rights, power, privileges 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 entitlements as the “Lease Period”)set forth in this Agreement. 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 obligation for obtaining the Applicable Permits shall be that of the Concessionaire.
3.1.4 The Concessionaire cannot transfer or vest title or give possession (on assignment, license or any other basis) in relation to the Real Estate Project or any part thereof prior to the COD of the Sports Infrastructure Project. Achieving COD for the Sports Infrastructure Project Facilities in accordance with this Agreement is a pre-condition to the right of the Concessionaire to create any sublease or other rights in the Real Estate Project or provide possession of Real Estate Project to third parties through any contractual arrangements. Provided however, the Concessionaire can accept bookings and obtain advance payments in relation to Real Estate Project, after bringing this limitation to the notice of such third parties.
3.1.5 3.1.1 Subject to and in accordance with the provisions of this Agreement, the Concession hereby granted shall entitle and oblige or entitle (as the case may be) the Concessionaire to undertake the following in accordance with the provisions of Applicable Laws and Applicable Permits, during the Concession Period to:
(a) Right of Way, access, licence and lease, as the case may be license to the Site for the purpose of and to the extent conferred by the provisions of this Agreement;
(b) investigatePlan, studyDesign, designDevelop, engineerProcure, procureConstruct, finance Finance, Upgrade, Equip, Operate, Maintain and manage the Project Assets/Facility as per the terms and conditions of this Agreement including Specifications and Standards, Applicable Laws, Applicable Permits and Good Industry Practice and transfer the same to the Authority or designated Government agency on the Transfer Date;
(c) develop Operate, Manage, and construct Maintain the Project ;
(d) manage, operate and maintain the Project Facility and regulate the use thereof by third parties;
(ed) demandDemand, collect Collect and appropriate Fee from Users liable for payment of Fee for using the Sports Infrastructure Project Facility and/ or availing any Services or any part thereof and refuse entry of to any User if the Fee due is not paid;
(e) perform and fulfil all of the Concessionaire’s obligations under and in accordance with this Agreement including Specifications and Standards, Applicable Laws, Applicable Permits and Good Industry Practice;
(f) ensure optimal managementprovide Services to the Users and/or any other service providers as per the terms and conditions of this Agreement including Specifications and Standards, operation, development Good Industry Practice and maintenance of the Project throughout the Concession Period, either by performing the operation and maintenance itself, or by engaging an O&M Contractor.Applicable Law;
(g) license or sublicense, part or whole of the Real Estate Project and appropriate the proceeds of such license or sublicense in accordance with the terms of this Agreement. All revenue and expenditure for Real Estate Project shall accrue to the Concessionaire.
(h) bear and pay all costs, expenses expenses, and charges in connection with or incidental to the performance of the obligations of the Concessionaire under this Agreement; and;
(h) access the common areas, facilities, and infrastructure at the Site, as long as such right to access is limited to the extent that it is required for Design, Build, Operating and Maintaining the Offered Area/Facility and/ or providing Services in terms of the present Agreement;
(i) not neither assign, transfer transfer, or create any lien, charge lien or Encumbrance on this Agreement Agreement, or the Concession hereby granted or on the whole or any part of the Project Offered Area/Facility nor sell, transfer, exchange, lease, sub- license or part possession thereof, save and except as expressly permitted by this Agreement or the Substitution Agreement. Provided further that .
3.1.2 Upon the Concessionaire can create fulfilling its obligations under this Agreement without any lien, charge, mortgage or Encumbrance on instance of default
1.1. The Concessionaire shall submit such Extension Request to the part or whole Authority at least 6 (six) months prior to the scheduled expiry of the Real Estate Project and on the Site allocated for Real Estate Projectinitial Concession Period of 30 (thirty) years. However, in In the event of any default by the Concessionaire upto submits the COD, all the rights of all the lenders with respect Extension Request later than 6 (six) months prior to the Site for Real Estate Project shall be subject to Authority’s unfettered rights under Articles 31scheduled expiry of the initial Concession Period of 30 (thirty) years, 33 and 34 and the Authority may at its absolute discretion terminate is under no obligation to consider such Extension Request.
3.1.3 Upon the termination of this Agreement, Land Lease Agreement and all other agreements and take back either due to expiry of the entire Site from Concession Period or due to another reason, the Concessionaire free from all Encumbrances without payment of any amount/compensation to the Concessionaire and/or to the Lendersshall comply with obligations provided in Article 32.
Appears in 1 contract
Sources: Concession Agreement
The Concession. 3.1.1 3.1.1. Subject to and in accordance with the provisions of this Concession 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 right and authority during to construction of the subsistence of this Agreement to construct, develop, operate and maintain the c o m p l e t e Project (MLCP + Commercial Complex) (the “Concession”). The Concession hereby granted shall be , and operate & maintain the Commercial complex for a period of:
of 40 (a) 35 (thirty fiveforty ) years including 3 (three) years construction period 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 constructionDate, 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 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 obligation for obtaining the Applicable Permits shall be that of the Concessionaire.
3.1.4 The Concessionaire cannot transfer or vest title or give possession (on assignment, license or any other basis) in relation to the Real Estate Project or any part thereof prior to the COD of the Sports Infrastructure Project. Achieving COD for the Sports Infrastructure Project Facilities in accordance with this Agreement is a pre-condition to the right of the Concessionaire to create any sublease or other rights in the Real Estate Project or provide possession of Real Estate Project to third parties through any contractual arrangements. Provided however, the Concessionaire can accept bookings and obtain advance payments in relation to Real Estate Project, after bringing this limitation to the notice of such third parties.
3.1.5 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, licence access and lease, as the case may be license to the Site for the purpose of and to the extent conferred by the provisions of this Agreement;
(b) investigateDesign, studyBuild, designFinance, engineerand Transfer the Multi-Level Car Parking and Design, procureBuild, finance Finance, Operate and Transfer the Project ;Commercial Complex at Old Power House Complex, Keishampat in Imphal as per the scope of work as mentioned in Schedule A of this Agreement, further detailed under the MinimumTechnical Requirements as mentioned in Schedule G of this Agreement and transfer it to the Authority on the Transfer Date
(c) develop and construct the Project ;
(d) Subject to Clause 3.1.2(d), manage, operate and maintain the Project Commercial Complex in the ISCL land at Old Power House Complex, Keishampat in Imphal and regulate the use thereof by third parties;
(ed) demandallow and assist the Authority or Authority’s Contractor(s) in demanding, collect collecting and appropriate Fee appropriating the eligible fees from Users liable for payment the operation of Fee for using the Sports Infrastructure Project proposed development or any part thereof and refuse entry of any User if the Fee due is not paidthereof;
(fe) ensure optimal management, operation, development perform and maintenance fulfill all of the Project throughout the Concession Period, either by performing the operation Concessionaire’s obligations under and maintenance itself, or by engaging an O&M Contractor.;
(g) license or sublicense, part or whole of the Real Estate Project and appropriate the proceeds of such license or sublicense in accordance with the terms of this Concession Agreement. All revenue and expenditure for Real Estate Project shall accrue to the Concessionaire.;
(hf) bear and pay all costs, expenses and charges in connection with or incidental to the performance of the obligations of the Concessionaire under this Concession Agreement; and
(ig) not neither assign, transfer or create any lien, charge lien or Encumbrance on this Agreement Agreement, or the Concession hereby granted or on the whole or any part of the Project ISCL/Government/Authority land nor transfer, license or part possession thereof,
h) Exercise such other rights as Authority may determine as being necessary or desirable for the purposes incidental and necessary for implementing the Project;
i) Obtain all the required Clearances from the Competent Authorities for the Project. Responsibility of taking all necessary approvals of construction, save demolition and except as expressly permitted reconstruction lies with the Concessionaire. Nevertheless, the Authority without any binding obligation may provide any reasonable assistance upon written request from the Concessionaire
j) Any part of the work (but not the whole of works) may be sub-contracted by the Concessionaire through construction contracts/O&M Contract, provided always that notwithstanding the construction contracts/O&M Contract, the Concessionaire retains overall management, responsibility, obligation and liability in relation to the subcontracted work. Any such subcontracting shall not relieve the Concessionaire from any of its obligations in respect of the provision of such work under this Agreement or the Substitution Agreement. Provided further It is clarified that Concessionaire shall remain liable and responsible for any acts, omissions or defaults of any Contractor, and shall indemnify the Authority in respect thereof Nothing contained herein, including the act of granting permission to develop the Project Facilityat the Site shall vest or create any proprietary interest in the Project Facility or any part thereof including any permanent fixtures, fittings etc. installed in the structure of the Project Facility in favor of the Concessionaire can create or any lienperson claiming through or under the Concessionaire. The Concessionaire shall not in any manner sell, transfer, assign, mortgage, charge, mortgage create lien or Encumbrance on otherwise encumber or deal with the part or whole Project Facility in any manner. The Concessionaire acknowledges, accepts and confirms that the covenant contained herein is an essence of the Real Estate Project and on the Site allocated for Real Estate Project. However, in the event of any default by the Concessionaire upto the COD, all the rights of all the lenders with respect to the Site for Real Estate Project shall be subject to Authority’s unfettered rights under Articles 31, 33 and 34 and the Authority may at its absolute discretion terminate this Agreement, Land Lease Agreement and all other agreements and take back the entire Site from the Concessionaire free from all Encumbrances without payment of any amount/compensation to the Concessionaire and/or to the Lenders.
Appears in 1 contract
Sources: Concession Agreement