Financial Closure: The Concessionaire shall achieve Financial Close within 90 days from the date of CA.
Escrow Account: The CA provides for opening of an Escrow Account by the Concessionaire with a Bank within 60 days from the date of CA and all funds constituting the financing package be credited to the account The Concessionaire shall deposit cash-flows from the Project into the account, the proceeds from which shall be appropriated in the order of all taxes and payble,all expenses related to project construction,O&MExpenses,1/12(one twelfth) of the annual libility on this account,the whole or part of expenses on repair work.