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(1) If the Authority and the Project Entrepreneur agrees to the terms and conditions for such Infrastructure Project, the concerned Government Authority or Government Agency or Local Authority may enter into Concession Agreement with the Project Entrepreneur as prescribed which inter alia, shall determine the obligations of the Project Entrepreneur, representations and warranties, penalties, liquidated damages, liabilities, nature of concession and benefits to be granted, etc. (2) It shall be binding on the Project Entrepreneur to complete the Project within the period as per the agreement.
<span style="margin-left:15px;"></span>(<i>1</i>) If the Authority and the Project Entrepreneur agrees to the terms and conditions for such Infrastructure Project, the concerned Government Authority or Government Agency or Local Authority may enter into Concession Agreement with the Project Entrepreneur as prescribed which <i>inter alia,</i> shall determine the obligations of the Project Entrepreneur, representations and warranties, penalties, liquidated damages, liabilities, nature of concession and benefits to be granted, etc.<br> <span style="margin-left:15px;"></span>(<i>2</i>) It shall be binding on the Project Entrepreneur to complete the Project within the period as per the agreement. <br>