Railway Reform: Toolkit for Improving Rail Sector Performance - ppiaf

Railway Reform: Toolkit for Improving Rail Sector Performance
Annex 4: Concession Contract Guide
Independent Engineer means the person nominated by the Authority to
monitor implementation of, among other things, the New Upgrades as discussed
in section 2.5 of the Guide.
Insurance Certificate means the certificate issued by the relevant insurers
evidencing the taking out of insurance by or on behalf of the Concessionaire.
Intervening Event has the meaning described in section 2.16 of the Guide.
Hand Back refers to the process of surrendering by the Concessionaire, to the
Authority or its nominee, the rights of the Concessionaire in the Concessioned
Assets and other assets as may be prescribed by the Agreement upon the expiry
or earlier termination of the Term or the Agreement.
Hand Back Assets means those assets prescribed by the Agreement to be surrendered
by the Concessionaire to the Authority.
Hand Back Date means the date upon which the Hand Back Assets are surrendered
to the Authority.
Hand Back Failure is a failure by the Concessionaire to surrender the Hand
Back Assets to the Authority in accordance with the Agreement.
Hand Back Procedures is the protocol or other written requirement attached
to the Agreement setting out the steps to be taken in relation to surrendering the
Hand Back Assets to the Authority.
Land Use means the use of land constituting the Site as permitted under the
relevant legislation.
New Upgrades are improvements and additions to the Concessioned Assets,
details of which appear in the Agreement, that are to be undertaken by the Concessionaire
immediately following the Effective Date.
Non Defaulting Party means the party to the Agreement that has neither
committed nor permitted the relevant Event of Default.
Notice of Intent to Terminate means the notice given by the Non Defaulting
Party when the relevant Event of Default is capable of being remedied, notifying
the other party that unless the situation is remedied within a specified time then
the Non Defaulting Party will serve a Termination Notice. Sometimes the parties
will endeavor to agree to a remediation schedule or program, in which case, the
notice will relate to a failure to reach agreement on the program for remedial action.
Party means either the Authority or the Concessionaire; parties means both
Authority and Concessionaire.
Permitted Release means circumstances under which Confidential Information
may be disclosed to third parties.
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