Appointment of Mine Operator. 3.1.1 Subject to and in accordance with the provisions of this Agreement, the Applicable Laws and the Applicable Permits, the Authority hereby authorizes the Mine Operator,to re-open, develop and operate the Mines and to excavate/extractCoal for Delivery and Selling of Coal thereof for a period of25 (twenty five)years or until the proposed life of the Mine, whichever is shorter, commencing from the Appointed Date and thus the Mine Operator hereby accepts and agrees to implement the Project subject to and in accordance with the terms and conditions set forth herein. Provided that, at least 1 (one) year before the expiry of the Contract Period, the Parties may, with mutual agreement, extend the Contract Period for such further period and on such terms and conditions as the Parties may mutually agree, but not exceeding 10 (ten) years. Provided that, unless otherwise agreed by the Parties, the terms of this Agreement shall continue to apply to any extended term subject to Clause 9.1.1. Provided further that, the Contract Period shall be deemed to have expired in the event the Parties mutually agree that the Coal reserves in the Mines are exhausted. In case any dispute arises with respect to exhaustion of Coal reserves, the decision of Coal Controller Office (“CCO”)shall be final and binding.
Appointment of Mine Operator. 3.1.1 Subject to and in accordance with the provisions of this Agreement, the Applicable Laws and the Applicable Permits, the Authority hereby appoints the Mine Operator, as the mine operator to develop and operate the Mines and to extract Coal for Delivery thereof to the Authority for a period of [25 (twenty five) years or until the life of the Mine, whichever is shorter] commencing from the Appointed Date, and the Mine Operator hereby accepts such appointment and agrees to implement the Project subject to and in accordance with the terms and conditions set forth herein.
Appointment of Mine Operator. 3.1.1 Subject to and in accordance with the provisions of this Agreement, Applicable Laws and the Applicable Permits, the Authority hereby appoints the Mine Operator, as the mine operator to develop and operate the Mines and to excavate Coal for Delivery thereof to the Authority for a period of [15 (fifteen)] years commencing from the Appointed Date, and the Mine Operator hereby accepts such appointment and agrees to implement the Project subject to and in accordance with the terms and conditions set forth herein. Provided that, not later than 1 (one) year before the expiry of the Contract Period, the Parties may, with mutual agreement, extend the Contract Period for such further period and on such terms and conditions as the Parties may mutually agree, but not exceeding 10 (ten) years. Provided that, unless otherwise agreed by the Parties, the terms of this Agreement shall continue to apply to any extended term subject to Clause 9.1.1. Provided further that, the Contract Period shall be deemed to have expired in the event the Parties mutually agree that the Coal reserves in the Mines are exhausted or cannot be excavated on a commercially viable basis.
Appointment of Mine Operator
