Common use of BPDB Letter of Credit Clause in Contracts

BPDB Letter of Credit. (A) Within twenty five (25) Business Day after the Commercial Operations Date, BPDB shall cause Xxxxxx Bank or any other scheduled bank (the “Issuing Bank”) to issue and provide to the Company the BPDB Letter of Credit, which shall have an initial term which is not less than one (1) year and shall provide for annual renewal by the Issuing Bank immediately prior to each relevant expiry date for further period(s) of one year each until the last Day of the Term. Immediately upon each such renewal, the Issuing Bank shall confirm to BPDB that such renewal has occurred. (B) In the case of any extension of this Agreement, BPDB shall, not less than thirty (30) Days prior to its expiration, procure that the BPDB Letter of Credit is renewed or replaced for a term not less than the extended term of this Agreement. BPDB shall procure that the BPDB Letter of Credit (which expression shall include any renewal or extension thereto) shall be in the form of Schedule 8 hereto. (C) The BPDB Letter of Credit shall permit presentation at a bank located in Dhaka, Bangladesh. (D) The amount of the BPDB Letter of Credit shall be equal to 2 (two) months Tariff Payment at a monthly plant factor of 20%. (E) The BPDB Letter of Credit shall provide for draws by the Company for the purposes of Section 13.3(a) in immediately available funds for any amounts due to the Company under this Agreement less any amounts disputed by BPDB, upon presentation of a certificate of an authorised officer of the Company stating that: (1) amounts shown in the invoice accompanying the certificate are due and payable by BPDB to the Company under this Agreement; and (2) an invoice for such amount has been delivered to BPDB in accordance with this Agreement and either: (a) no amount shown in the invoice has been disputed by BPDB; or (b) a portion of the amount shown in the invoice has been disputed by BPDB, identifying such disputed amount. The certificate shall be accompanied by the relevant invoice delivered to BPDB and any Invoice Dispute Notice delivered to the Company by BPDB. (F) The BPDB Letter of Credit shall be reinstated to the BPDB Letter of Credit Amount (as at the most recent BPDB Letter of Credit Adjustment Day or, prior to the first BPDB Letter of Credit Adjustment Day, as at the Commercial Operations Date) within fifteen

BPDB Letter of Credit. (A) Within twenty five 10 (25ten) Business Day after the Commercial Operations Date, BPDB shall cause Xxxxxx Bank or any other scheduled bank (the “Issuing Bank”) to issue and provide to the Company the BPDB Letter of Credit, which shall have an initial term which is not less than one (1) year and shall provide for annual renewal by the Issuing Bank immediately prior to each relevant expiry date for further period(s) of one year each until the last Day of the TermTerm . Immediately upon each such renewal, the Issuing Bank shall confirm to BPDB that such renewal has occurred. (B) In the case of any extension of this Agreement, BPDB shall, not less than thirty (30) Days prior to its expiration, procure that the BPDB Letter of Credit is renewed or replaced for a term not less than the extended term of this Agreement. BPDB shall procure that the BPDB Letter of Credit (which expression shall include any renewal or extension thereto) shall be in the form of Schedule 8 hereto5 hereto and meets the requirements of this Section 13.2(i). (C) The BPDB Letter of Credit shall permit presentation at a bank located in Dhaka, Bangladesh. (D) The initial amount of the BPDB Letter of Credit shall be equal to 2 (two) months Tariff Payment the BPDB Letter of Credit Amount computed as at a monthly plant factor of 20%the Commercial Operations Date. (E) The BPDB Letter of Credit Amount shall be recalculated and adjusted by BPDB and notified to the Company and the Issuing Bank on the date falling ninety (90) Days after the Commercial Operations Date and every ninety (90) Days thereafter (each such Day a “BPDB Letter of Credit Adjustment Day”). If as a result of any such recalculation on a BPDB Letter of Credit Adjustment Day, the BPDB Letter of Credit Amount as at such BPDB Letter of Credit Adjustment Day is higher than the amount of the BPDB Letter of Credit which is then capable of being drawn, BPDB shall within two (2) Business Days of such BPDB Letter of Credit Adjustment Day procure that the amount of the BPDB Letter of Credit is increased to such higher BPDB Letter of Credit Amount and that written evidence of such increase is provided to the Company. (F) The BPDB Letter of Credit shall provide for draws by the Company for the purposes of Section 13.3(a13.2(a) in immediately available funds for any amounts due to the Company under this Agreement less any amounts disputed by BPDB, upon presentation of a certificate of an authorised officer of the Company stating that: (1) amounts shown in the invoice accompanying the certificate are due and payable by BPDB to the Company under this Agreement; and (2) an invoice for such amount has been delivered to BPDB in accordance with this Agreement and either: (a) no amount shown in the invoice has been disputed by BPDB; or (b) a portion of the amount shown in the invoice has been disputed by BPDB, identifying such disputed amount. The certificate shall be accompanied by the relevant invoice delivered to BPDB and any Invoice Dispute Notice delivered to the Company by BPDB. (FG) The BPDB Letter of Credit shall be reinstated to the BPDB Letter of Credit Amount (as at the most recent BPDB Letter of Credit Adjustment Day or, prior to the first BPDB Letter of Credit Adjustment Day, as at the Commercial Operations Date) within fifteenfifteen (15) Business Days of any draw thereon by the Company.

BPDB Letter of Credit. (A) Within twenty five (25) Business Day after the Commercial Operations Date, BPDB shall cause Xxxxxx Bank or any other scheduled bank (the “Issuing Bank”) to issue and provide to the Company the BPDB Letter of Credit, which shall have an initial term which is not less than one (1) year and shall provide for annual renewal by the Issuing Bank immediately prior to each relevant expiry date for further period(s) of one year each until the last Day of the Term. Immediately upon each such renewal, the Issuing Bank shall confirm to BPDB that such renewal has occurred. (B) In the case of any extension of this Agreement, BPDB ENTITY shall, not less than thirty (30) Days prior to its expiration, procure that the BPDB ENTITY Letter of Credit is renewed or replaced for a term not less than the extended term of this Agreement. BPDB ENTITY shall procure that the BPDB ENTITY Letter of Credit (which expression shall include any renewal or extension thereto) shall be in the form of Schedule 8 hereto. (C) The amount of the BPDB Letter of Credit shall be equal to 1 (one) months Tariff Payment at a monthly plant factor of 15% considering Contracted Capacity. (D) The BPDB Letter of Credit shall permit presentation at a bank located in Dhaka, Bangladesh. (D) The amount of the BPDB Letter of Credit shall be equal to 2 (two) months Tariff Payment at a monthly plant factor of 20%. (E) The BPDB Letter of Credit shall provide for draws by the Company for the purposes of Section 13.3(a13.2(a) in immediately available funds for any amounts due to the Company under this Agreement less any amounts disputed by BPDB, upon presentation of a certificate of an authorised authorized officer of the Company stating that: (1) amounts shown in the invoice accompanying the certificate are due and payable by BPDB to the Company under this Agreement; and (2) an invoice for such amount has been delivered to BPDB in accordance with this Agreement and either: (a) no amount shown in the invoice has been disputed by BPDB; or (b) a portion of the amount shown in the invoice has been disputed by BPDB, identifying such disputed amount. The certificate shall be accompanied by the relevant invoice delivered to BPDB and any Invoice Dispute Notice delivered to the Company by BPDB. (F) The BPDB Letter of Credit shall be reinstated to the BPDB Letter of Credit Amount (as at the most recent BPDB Letter of Credit Adjustment Day or, prior to the first BPDB Letter of Credit Adjustment Day, as at the Commercial Operations Date) within fifteen

BPDB Letter of Credit. (A) Within 25 (twenty five (25five) Business Day after the Commercial Operations Date, BPDB shall cause Xxxxxx Bank or any other scheduled bank (the “Issuing Bank”) to issue and provide to the Company the BPDB Letter of Credit, which shall have an initial term which is not less than one 1 (1one) year and shall provide for annual renewal by the Issuing Bank immediately prior to each relevant expiry date for further period(s) of one year each until the last Day of the Term. Immediately upon each such renewal, the Issuing Bank shall confirm to BPDB that such renewal has occurred. (B) In the case The amount of any extension of this Agreement, BPDB shall, not less than thirty (30) Days prior to its expiration, procure that the BPDB Letter of Credit is renewed or replaced for a term not less than the extended term of this Agreement. BPDB shall procure that the BPDB Letter of Credit (which expression shall include any renewal or extension thereto) shall be in the form of Schedule 8 heretoequal to 02 (two) month Tariff Payment at a monthly 6753 MWh energy rate. (C) The BPDB Letter of Credit shall permit presentation at a bank located in Dhaka, Bangladesh. (D) The amount of the BPDB Letter of Credit shall be equal to 2 (two) months Tariff Payment at a monthly plant factor of 20%. (E) The BPDB Letter of Credit shall provide for draws by the Company for the purposes of Section 13.3(a13.2(a) in immediately available funds for any amounts due to the Company under this Agreement less any amounts disputed by BPDB, upon presentation of a certificate of an authorised authorized officer of the Company stating that: (1) amounts Amounts shown in the invoice accompanying the certificate are due and payable by BPDB to the Company under this Agreement; and (2) an An invoice for such amount has been delivered to BPDB in accordance with this Agreement and either: (a) no No amount shown in the invoice has been disputed by BPDB; or (b) a A portion of the amount shown in the invoice has been disputed by BPDB, identifying such disputed amount. The certificate shall be accompanied by the relevant invoice delivered to BPDB and any Invoice Dispute Notice delivered to the Company by BPDB. (FE) The BPDB Letter of Credit shall be reinstated to the BPDB Letter of Credit Amount (as at the most recent BPDB Letter of Credit Adjustment Day or, prior to the first BPDB Letter of Credit Adjustment Day, as at the Commercial Operations Date) within 15 (fifteen) Business Days of any draw thereon by the Company.