The concessionaire may not change the payment order set out in the agreement unless the concessionaire`s authority and lenders have previously approved it in writing. In the event of termination of the agreement by the Autorité for breach by the concessionaire, the Autorité pays the concessionaire, in addition to the end of the performance guarantee, 70% of the “unmatured cash flow”. In the event of termination due to the absence of the Authority, it shall pay the concessionaire an amount equal to 105% of the unex elapsed cash flows as a termination payment, subject to a certificate of opposition (NOC) issued by the lenders/agents of the lender, which records the release of royalties on project receivables (if applicable), otherwise, the NoC authority will be obtained directly from the “lender/agent of the lender” by paying the “termination payment”. The process of commercial exploitation of research is very different. It may include licensing agreements or the creation of joint ventures and partnerships to share both the risks and opportunities for the marketing of new technologies. Other company vehicles, for example. B spin-out, are used where the host organization does not have the will, resources or capabilities to develop a new technology. These approaches are often linked to the acquisition of venture capital (VC) as a means of financing the development process, a practice more common in the United States than in the European Union, which takes a more conservative approach to venture capital financing. [4] Research companies are a popular commercialization tool in Canada, where the licensing rate of Canadian university research is much lower than in the United States. [5] Where a “change in the law” adversely affects the concessionaire: (i) increases costs, (ii) reduces the net declaration of reimbursement or (iii) another financial burden, the concessionaire may inform the Authority and the parties may amend the agreement to neutralise its effects. The same would be true for the Authority. When the Authority sets up a smart toll system (closed toll) or equivalent mechanism, the concessionaire is encouraged to move to the same.

In the event of a substantial change in the revenue investigation resulting from the transition to such a system or mechanism, the Authority shall settle it with the concessionaire within the meaning of the Agreement. . . .

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