4. power purchase agreement(ppa) - BPDB

Power Purchase Agreement-Fenchuganj
(B)
if this Agreement is terminated pursuant to Section 4.2(b), BPDB may
draw on the Performance Security Deposit and it is agreed that such
drawing is reasonable and constitutes liquidated damages to BPDB in
such event and the drawing on such Proposal Security shall be the sole
remedy of BPDB following such termination of this Agreement.
4.5 Notice to Lenders of Company Event of Default
(a)
No Termination without Notice to Lenders
Notwithstanding anything in this Agreement, from and after the occurrence of the
Financial Closing Date, BPDB shall not seek to terminate this Agreement without first
giving to the Lenders a copy of any notices given to the Company under Sections 4.2 and
4.4, such notice to be coupled with a request to the Lenders to cure any such default
within the cure period specified in Section 4.4(b) (the “Initial Cure Period”), which period
shall commence upon delivery of each such notice to the Lenders.
(b)
Designation of Agent and Notification Procedure
(i)
(ii)
The Lenders will designate in writing to BPDB an agent (the “Agent”) and any
notice required hereunder shall be delivered to such Agent, such notice to be
effective upon delivery to the Agent as if delivered to each of the Lenders.
Each such notice shall be in writing and shall be deemed to have been delivered:
(A)
(B)
(C)
when presented personally to the Lenders or the Agent;
when transmitted by BPDB and received by the Lenders or the Agent by
facsimile to the number specified in accordance with the procedure set
forth below; or
five (5) Days after being deposited in a regularly maintained receptacle
for the postal service in Bangladesh, postage prepaid, registered or
certified, return receipt requested, addressed to the Lenders at the
address indicated at Financial Closing (or such other address or to the
Agent at such address as the Lenders may have specified in written
notice delivered in accordance herewith).
Any notice given by facsimile under this Section 4.5 shall be confirmed in writing
delivered personally or sent by prepaid post, but failure to so confirm shall not
void or invalidate the original notice if it is in fact received by the Lenders or the
Agent.
(iii)
Notwithstanding the foregoing, if the address of the Lenders or the Agent is
outside Bangladesh, any notice delivered to the Lenders or Agent pursuant to
this Section 4.5 shall be:
(A)
(B)
presented personally or sent by international courier or facsimile; and
if sent by facsimile, confirmed by international courier,
and the Initial Cure Period shall commence upon receipt by the Lenders or the
Agent of the notice referenced above.
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