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
2 ARTICLE 2 : TERM OF AGREEMENT
2.1 Effective Date
2.1.1 This Agreement shall come into effect from the date it is executed and delivered by the
last of all the Parties and such date shall be referred to as the Effective Date.
2.2 Term of Agreement
2.2.1 This Agreement shall be valid for a term commencing from the Effective Date until the
Expiry Date ("Term of Agreement"), unless terminated earlier pursuant to Article 2.3.
Upon the occurrence of the Expiry Date, this Agreement shall, subject to Article 2.4,
automatically terminate, unless mutually, extended by all the Parties on mutually agreed
terms and conditions, at least …………… (………….) days [Insert the number of days –
number of days in case of medium term procurement to be ninety (90) days and in case of
long term procurement, to be one hundred and eighty (180) days prior to the Expiry
Date], subject to approval of the ………………… [Insert name of the SERC(s) of the
State(s) where the Procurer(s) are located, as applicable].
2.3 Early Termination
2.3.1 This Agreement shall terminate before the Expiry Date:
i. if either ……………….. [Insert as applicable - the Procurer (in case of a single
Procurer) / all the Procurers (jointly) (in case of joint procurement by more than one
Procurer)] or the Seller exercises a right to terminate, pursuant to Articles 3.4.2, 3.4.3,
3.4.4, 3.4.5, 4.1.1, 11.3.4, 11.4.5, 11.5.1 or Clause 7.2.3 of Schedule 7 of this
Agreement; or
ii. in such other circumstances as the Seller and …………………… [Insert as applicable
- the Procurer (in case of a single Procurer) / all the Procurers (jointly) (in case of
joint procurement by more than one Procurer)] may agree, in writing.
2.4 Survival
2.4.1 The expiry or termination of this Agreement shall not affect any accrued rights,
obligations and liabilities of the Parties under this Agreement, including the right to
receive liquidated damages as per the terms of this Agreement, nor shall it affect the
survival of any continuing obligations for which this Agreement provides, either
expressly or by necessary implication, which are to survive after the Expiry Date or
termination including those under Article 3.4.2, Article 9 (Force Majeure), Article 11
(Events of Default and Termination), Article 12 (Liability and Indemnification), Article
14 (Governing Law and Dispute Resolution), Article 15 (Miscellaneous Provisions), and
other Articles and Schedules of this Agreement which expressly or by their nature
survive the Term or termination of this Agreement shall continue and survive any expiry
or termination of this Agreement.
…….[Insert name of Procurer(s)] 22