Guidelines for determination of tariff & SBD for ... - Ministry of Power

Standard PPA for … [Insert ‘medium’ or ‘long’, as applicable] term power procurement under Case -1
case the Seller is a
Trading Licensee]
“Direct Non-Natural
Force Majeure Event”
shall have the meaning ascribed thereto in Article 9.3 of this
Agreement;
"Dispatch Instruction" shall mean any instruction issued by the Procurer(s) through the
concerned SLDC / RLDC to the Seller, in accordance with applicable
Grid Code and this Agreement;
“Dispute” shall mean any dispute or difference of any kind between a Procurer
and the Seller or between the Procurers (jointly) and the Seller, in
connection with or arising out of this Agreement including but not
limited to any issue on the interpretation and scope of the terms of
this Agreement as provided in Article 14 of this Agreement;
"Due Date" shall mean the thirtieth (30th) day after a Monthly Bill or a
Supplementary Bill is received and duly acknowledged by the
Procurer(s) or, if such day is not a Business Day, the immediately
succeeding Business Day, by which date such Monthly Bill or a
Supplementary Bill is payable by such Procurer(s);
“Effective Date” shall have the meaning ascribed thereto in Article 2.1 of this
Agreement;
“Electricity Laws” shall mean the Electricity Act, 2003 and the rules and regulations
made thereunder from time to time along with amendments thereto
and replacements thereof and any other Law pertaining to electricity
including regulations framed by the Appropriate Commission;
“Energy Charge” or
“Energy Charges”
shall have the meaning ascribed to this term under Schedule 4 of this
Agreement;
“Event of Default” shall mean the events as defined in Article 11 of this Agreement;
“Expiry Date” shall mean the date which is the …………. (………. th) anniversary
of the Delivery Date [Procurer / Authorized Representative to insert
the last year of the term of the procurement] or such extended period
as mutually agreed upon by both Parties;
“Financial Closure” shall mean the execution of all the Financing Agreements required
for the Power Station and fulfillment of conditions precedents and
waiver, if any, of any of the conditions precedent for the initial draw
down of funds there under;
[Insert this definition in
case Seller is not a
Trading Licensee]
“Financing
Agreements”
shall mean the agreements pursuant to which the Seller has sought
financing for the Power Station including the loan agreements,
security documents, notes, indentures, security agreements, letters of
credit and other documents, as may be amended, modified, or
replaced from time to time, but without in anyway increasing the
liabilities of the Procurer(s);
"Force Majeure" or shall have the meaning ascribed thereto in Article 9.3 of this
…….[Insert name of Procurer(s)] 9