S No Concession Covenant

28 Termination Events &

Compensation
Details
Concessionaire Event of Default
§ Prior to COD
P 1st Payment Milestone = NIL
P 2nd Payment Milestone = 50% Debt Due or 9% of Bid Cost
whichever is lower
P 3rd Payment Milestone = 60% Debt Due or 16% of Bid Cost
whichever is lower
P 4th Payment Milestone = 70% Debt Due or 24% of Bid Cost
whichever is lower
P 5th Payment Milestone = 80% Debt Due or 32% of Bid Cost
whichever is lower
§ If termination happens in between milestones then last achieved
milestone shall be considered
§ At or after COD
P 65% of balance annuities to be paid including interest thereon