Payment Security Mechanism. Letter of Credit (LC):
Payment Security Mechanism. 15.8.1. In order to assure payment of the Authority‟s obligation to the Concessionaire under this Agreement, the Authority shall, prior to the COD, establish with ..................11 (“Account Bank”) a no lien bank account with revolving cash- credit limit of a sum equivalent to 1.5 (one and half) months of estimated annual Storage Charges as applicable for the relevant Financial Year and authorise the Account Bank to issue payment to the Concessionaire for unpaid Undisputed Amounts of Invoices raised by the Concessionaire in respect of the Project built under this Agreement. 11 A scheduled commercial Bank which is agreeable to extend such facility to the Authority
Payment Security Mechanism. 8.8.1 Procurer shall provide to the Power Producer, in respect of payment of its Monthly Bills and/or Supplementary Bills, a monthly unconditional, revolving and irrevocable letter of credit (“Letter of Credit”), opened and maintained which may be drawn upon by the Power Producer in accordance with this Article.
Payment Security Mechanism. 10.5 Third Party Sales by the Seller........................................................................................................................
Payment Security Mechanism. 15.8.1. In order to assure payment of the Authority’s obligation to the Concessionaire under this Agreement, the Authority shall, prior to the COD, establish with ..................11 (“Account Bank”) a no lien bank account with revolving cash- credit limit of a sum equivalent to 1.5 (one and half) months of estimated annual Storage Charges as applicable for the relevant Financial Year and authorise the Account Bank to issue payment to the Concessionaire for unpaid Undisputed Amounts of Invoices raised by the Concessionaire in respect of the Project built under this Agreement.
Payment Security Mechanism. (a) Procurer shall set up and maintain in favour of the SPD, in respect of payment of the Monthly Bills and/or Supplementary Bills, a Monthly unconditional, revolving and irrevocable RBI Letter of Mandate, substantially in the format set out in Schedule P, which may be drawn upon by the SPD in accordance with this Article.
Payment Security Mechanism. NVVN shall provide payment security to the GBP plant through Revolving Letter of Credit (LC) of an amount equal to one day of amount payable to the Seller (VCGA+VCNG) commensurate to Minimum generation offtake with respect to the contracted capacity. This shall be applicable only for bilateral/Market transaction and not under TRAS.
Payment Security Mechanism. (a) Within 90 (ninety) days of execution of this Contract, utility shall enter into a Tripartite Agreement, with the AMISP and designated Bank, to establish a separate current Project Account, to be operated on the principles of that of an Escrow Account, in the designated Bank for ensuring prompt payment to the AMISP; Bank shall act as the Project Account Agent;
Payment Security Mechanism. (a) The Nodal Railway shall set up and maintain in favour of the SPD, in respect of payment of the Monthly Bills and / or Supplementary Bills, a Monthly unconditional, revolving and irrevocable RBI Letter of Mandate, substantially in the format set out in Schedule 4, which may be drawn upon by the SPD in accordance with this Article.
Payment Security Mechanism. Letter of Credit (LC)/Letter of Assurance from Reserve Bank of India, as the case may be:
