Assignment

The concessions awarded by the Board shall stipulate assignment and step-in clauses in the event of concessionaire default.

The concessionaire may offer its rights and interest in the Concession Agreement or the project assets as collateral to any of its financer for any financing availed of by the concessionaire, in accordance with assignment clause enabling the concessionaire to assign his rights and interest as aforesaid, subject to the guidelines and regulations issued or made in this behalf.