TIRUPATI URBAN DEVELOPMENT AUTHORITY - TIRUPATHI ...

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Tirupathi Urban Development Authority (v) (vi) (vii) An individual member applying as a sole Bidder cannot at the same time be member of any Bidding Consortium applying for this Project. Further, a member of a particular Bidding Consortium cannot be member of any other Bidding Consortium applying for this Project. Any member who submits or participates in more than one Bid for this Project will be disqualified and will also lead to disqualification of the Bidding Consortium/s of which it is a member; The Bid submitted by the Consortium should contain signed letters submitted by each of the Consortium Members, stating that the entire Bid has been examined and each key element of the Bid is agreed to, in the format as specified in Exhibit 4. Members of the Bidding Consortium shall nominate one member as the Lead Consortium Member. The Lead Consortium Member or the ordinary member, as the case may be, shall be required to meet the criteria specified in Section 6.5. 3.4.2 The Bid shall contain a copy of the MoU entered into between the Consortium Members, as per the Principles of MoU stated in Exhibit 1. 3.4.3 The Lead Consortium Member shall be that Consortium Member vested with the prime responsibility of developing the Project. In case a Bidding Consortium is selected as the Successful Bidder, the Lead Consortium Member shall continue to remain the representative of the Bidding Consortium and shall be responsible to TUDA for the fulfillment of all contractual obligations. 3.4.4 For a Bidding Consortium, no change in the membership, equity commitment or responsibilities of the Bidding Consortium, shall be permitted after submission of the Bid, upto the end of 3 years after the execution of Development Agreement. If at any stage during this period, a change in the responsibilities or membership in the Bidding Consortium (in respect of any Consortium Member) is proposed, it would need to be communicated to TUDA in writing for its approval. TUDA would reserve the right to reject such requests for a change of Bidding Consortium structure, if in its opinion; it would adversely affect the strengths of such Bidding Consortium as originally evaluated. In any case, notwithstanding the above, the Lead Consortium Member, in case of a Bidding Consortium, shall hold not less than 51% equity contribution in the Bidding Consortium, which shall not be diluted for first 3 years after the execution of Development Agreement. 3.5 Minimum Equity Requirement 3.5.1 The Selected Developer will be required to incorporate a Project Company, which shall not undertake any other business during the Term of the Development Agreement, to domicile the Project prior to the start of implementation of the Project. Request For Proposal Development of Integrated Tourism Temple Township on Public Private Partnership Basis 11
Tirupathi Urban Development Authority 3.5.2 The aggregate equity shareholding of the Bidding Company or Bidding Consortium, in the issued and paid up capital of the Project Company shall not be less than 51% (fifty one percent) for first 3 years after the execution of Development Agreement. 3.5.3 In case of a Bidding Consortium, members of the Bidding Consortium shall nominate one member as the Lead Consortium Member. The Lead Consortium Member would be required to commit to hold a minimum equity stake of 51% in the Bidding Consortium, which shall not be diluted for first 3 years after the execution of Development Agreement. 3.5.4 Any dilution in the equity holding of the Project Company as provided in this Section shall be as per the provisions of the Development Agreement. 3.6 Proposal Preparation Cost The Bidder shall be responsible for all costs associated with the preparation of its Proposal and its participation in the bidding process. TUDA will not be responsible nor in any way liable for such costs, regardless of the conduct or outcome of the bidding process. 3.7 Clarifications 3.7.1 A prospective Bidder requiring any clarification on the RFP may notify the TUDA in writing or facsimile. Bidders should send in their queries latest by the Last Date for Receiving Queries as given in the schedule of Bidding Process. 3.7.2 TUDA’s response to queries from the Bidders, including a description of the enquiry, will be posted on the website of TUDA at www.tuda.in. 3.8 Amendment of RFP 3.8.1 TUDA may modify the RFP by issuing an Addendum before Bid Due Date. 3.8.2 At any time prior to the Bid Due Date, TUDA may, for any reason, whether at its own initiative or in response to clarifications requested by a Bidder, modify the RFP by the issuance of Addenda. Such Addenda would be posted on the website of TUDA at www.tuda.in. In order to afford the Bidders reasonable time in which to take an Addendum into account, or for any other reason, TUDA may, at its own discretion, extend the Bid Due Date. Intimation regarding such extension in the Bid Due Date would only be posted on the website of the TUDA at www.tuda.in. 3.8.3 Any Addendum thus issued shall be part of the RFP. 3.9 Advisors to the Bid Process Request For Proposal Development of Integrated Tourism Temple Township on Public Private Partnership Basis 12
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