Compensation Details Concessionaire Event of Default § Prior to COD P 1st Payment Milestone = NIL P 2nd Payment Milestone = 50% Debt Due or 9% of Bid Cost whichever is lower P 3rd Payment Milestone = 60% Debt Due or 16% of Bid Cost whichever is lower P 4th Payment Milestone = 70% Debt Due or 24% of Bid Cost whichever is lower P 5th Payment Milestone = 80% Debt Due or 32% of Bid Cost whichever is lower § If termination happens in between milestones then last achieved milestone shall be considered § At or after COD P 65% of balance annuities to be paid including interest thereon