Collateral Arrangement. As a further support for the Procurers‟ obligations, on or prior to the Effective Date, the Procurers and the Seller shall execute Default Escrow Agreement (referred as “Default Escrow Agreement”) for the establishment and operation of the Default Escrow Account in favour of the Seller, through which the revenues of the Procurers shall be routed and used as per the terms of the Default Escrow Agreement. The Procurers and the Seller shall contemporaneously with the execution of the Default Escrow Agreement enter into the Agreement to Hypothecate Cum Deed of Hypothecation, whereby the Procurers shall agree to hypothecate, Incremental Receivables to the extent as required for the Letter of Credit as per Article
Collateral Arrangement. As a further support for the Discom obligations, on or prior to the expiry of the TPA, the Discom and NTPC shall execute Default Escrow Agreement (referred as “Default Escrow Agreement”) for the establishment and operation of the Default Escrow Account in favour of NTPC, through which the revenues of the Discom shall be routed and used as per the terms of the Default Escrow Agreement. The Discom and NTPC shall contemporaneously with the execution of the Default Escrow Agreement enter into the Agreement to Hypothecate Cum Deed of Hypothecation, whereby the Discom shall agree to hypothecate, Incremental Receivables to the extent as required for the Letter of Credit as per Article
Collateral Arrangement. As a further support for the SECI‟s obligations, not later than (1) month before the start of supply, the SPD and SECI shall execute Default Escrow Agreement (referred
Collateral Arrangement. As a further support for Buying Entity’s obligations, on or prior to the Effective Date, Buying Entity and Buyer shall execute Default Escrow Agreement (referred as “Default Escrow Agreement”) for the establishment and operation of the Default Escrow Account in favour of Buyer, through which the revenues of Buying Entity shall be routed and used as per the terms of the Default Escrow Agreement. Buying Entity and Buyer shall contemporaneously with the execution of the Default Escrow Agreement enter into the Agreement to Hypothecate Cum Deed of Hypothecation, whereby Buying Entity shall agree to hypothecate, Incremental Receivables to the extent as required for the Letter of Credit as per Article 6.4.2,. The Default Escrow Agreement and the Agreement to Hypothecate Cum Deed of Hypothecation are collectively referred to as the “Collateral Arrangement”. Provided that Buying Entity shall ensure that Buyer shall have first ranking charge on the Incremental Receivables in accordance with the terms of the Agreement to Hypothecate Cum Deed of Hypothecation.
Collateral Arrangement. (a) The performance by the Company and other Group Companies of their obligations to make any payments to the Investors (i) under the Indentures, the Notes, the Security Documents and Section 4.4 and Schedule IV of this Agreement, and (ii) pursuant to Article VI of this Agreement as a result of a breach of its obligations under Section 4.5, Section 4.6 and Section4.8 of this Agreement as well as their other obligations under the Security Documents, shall be secured pursuant to the collateral arrangement set forth on Schedule III (the “Collateral Arrangement”) and under the Security Documents.
(b) The Company shall, and shall cause the applicable Group Companies to take all the actions that are required to be taken by the Group Companies upon Closing as set forth under Schedule III, and complete the Post-Closing Collateral Related Activities (as defined in Schedule III) as soon as practicable after the Closing, and in any event within thirty (30) days after the Closing as long as the Investors provide timely cooperation. The Investors shall reasonably cooperate with the Company to complete such activities, including by providing necessary documents or taking necessary actions where applicable.
(c) If the value of the Collateral Package falls below the applicable Value Threshold, the Company shall, and shall cause its Subsidiaries to, provide additional collateral under the Collateral Arrangement such that the total value of the Collateral Package is increased to such threshold, unless the decline in value of the Collateral Package is solely attributable to fluctuations in US$/RMB exchange rates and the remaining value of the Collateral Package is at least 90% of the applicable Value Threshold.
(d) The Parties shall cooperate with each other to timely release a portion of the collateral if the principal amount of Notes held by the Investors and their Affiliates substantially reduces. Following the repayment in full of all amounts due under the Notes, the conversion of all of the Notes held by the Investors and their Affiliates to Class A Ordinary Shares (including in the form of ADSs) or the Investors and its Affiliates otherwise ceasing to hold any portion of the Notes (each, a “Extinguishment Event”), the Collateral Arrangement shall terminate and the Investors shall release and discharge the collateral described in the Security Documents or to execute such other appropriate instrument evidencing such release and discharge (at the expense of the Company) w...
Collateral Arrangement. 11.4.2.1 As further support for the Procurer’s obligations, on or prior to the Effective Date, Procurer and the Seller shall execute separate Default Escrow Agreement (referred as “Default Escrow Agreement”) for the establishment and operation of the Default Escrow Account in favour of the Seller, through which the revenues of the relevant Procurer shall be routed and used as per the terms of the Default Escrow Agreement. Procurer and the Seller shall contemporaneously with the execution of the Default Escrow Agreement enter into a separate Agreement to Hypothecate Cum Deed of Hypothecation, whereby the Procurer shall agree to hypothecate, to the Seller, effective from forty five (45) days prior to the Scheduled COD or Revised Scheduled COD of the first Unit (as applicable), the amounts to the extent as required for the Letter of Credit as per Article
11.4.1.1 routed through the Default Escrow Account and the Receivables in accordance with the terms of the Agreement to Hypothecate Cum Deed of Hypothecation. The Default Escrow Agreements and the Agreement to Hypothecate Cum Deed of Hypothecation are collectively referred to as the “Collateral Arrangement”. The minimum revenue flow in any Month in the Default Escrow Account shall be at least equal to the amount required for the Letter of Credit as per Article 11.
Collateral Arrangement. As an security measure to ensure compliance of Franchisee obligations under this agreement, the Franchisee and the DISCOM on or prior to the Effective Date, shall execute separate Default Escrow Agreement (referred as “Default Escrow Agreement”) for the establishment and operation of the Default Escrow Account in favour of the DISCOM, through which the revenues of the DF shall be routed and used as per the terms of the Default Escrow Agreement. All revenue collected in the franchised area shall be deposited by DF in the Default Escrow Account within 48 hours of its receipt. Without prejudice to its other rights, DISCOM shall have the first and paramount charge over all receivables of Franchisee at all times for all the amounts becoming due from Franchisee to DISCOM under this Distribution Franchisee Agreement. Franchisee shall not create any encumbrance, charge, and lien or otherwise execute any instrument which in any way affects the first and paramount charge over the receivables in favour of DISCOM. DISCOM, however, agrees that so long as the amounts becoming due from Franchisee to DISCOM as aforesaid are paid on due dates. Franchisee shall be entitled to utilize the receivables and may deal with such receivables in such manner as Franchisee may consider appropriate and DISCOM agrees to maintain its first and paramount charge over the receivables as floating charge. The floating charge of DISCOM shall, however, crystallize into a fixed charge automatically without any further act, deed or
Collateral Arrangement. (a) To secure the due and punctual full payment, performance and discharge by the Issuer of the Secured Liabilities under Tranche 1 Debentures, the Security Provider as sole owner of the Collateral Shares and Related Rights hereby agrees to use Tranche 1 Shares and the Related Rights as security in favour of Debentureholders' Representative (for and on behalf of the Debentureholders with respect to Tranche 1 Debentures) pursuant to Section 228/1 of the SEC Act.
(b) To secure the due and punctual full payment, performance and discharge by the Issuer of the Secured Liabilities under Tranche 2 Debentures, the Security Provider as sole owner of the Collateral Shares and Related Rights hereby agrees to use Tranche 2 Shares and the Related Rights as security in favour of Debentureholders' Representative (for and on behalf of the Debentureholders with respect to Tranche 2 Debentures) pursuant to Section 228/1 of the SEC Act.
Collateral Arrangement. 11.4.2.1 As further support for each Procurer’s obligations, on or prior to the Effective Date, each Procurer and the Seller shall execute separate Default Escrow Agreement (referred as “Default Escrow Agreement”) for the establishment and operation of the Default Escrow Account in favour of the Seller, through which the revenues of the relevant Procurer shall be routed and used as per the terms of the Default Escrow Agreement. Each of the Procurers and the Seller shall contemporaneously with the execution of the Default Escrow Agreement enter into a separate Agreement to Hypothecate Cum Deed of Hypothecation, whereby each Procurer shall agree to hypothecate, to the Seller, effective from forty five (45) days prior to the Scheduled COD or Revised Scheduled COD of the first Unit (as applicable), the amounts to the extent as required for the Letter of Credit as per Article
11.4.1.1 routed through the Default Escrow Account and the Receivables in accordance with the terms of the Agreement to Hypothecate Cum Deed of Hypothecation. The Default Escrow Agreements and the Agreement to Hypothecate Cum Deed of Hypothecation are collectively referred to as the “Collateral Arrangement”. The minimum revenue flow in any Month in the Default Escrow Account shall be at least equal to the amount required for the Letter of Credit as per Article
11.4.1.1 Provided that the Procurers shall ensure that the Seller has first ranking charge on the revenues routed through the Default Escrow Account and the ‘Receivables’ in accordance with the terms of the Agreement to Hypothecate Cum Deed of Hypothecation. However, such first ranking charge shall be on the amounts, in excess of amounts, which have already been charged or agreed to be charged prior to the date of the execution of the Default Escrow Agreement
11.4.2.2 On the occurrence of all of the following events in respect of any Procurer:
i) A period of not less than two (2) years from COD of Power Station, has elapsed; and
ii) Such Procurer has achieved, for its ability to honour its Tariff Payment obligations to the Seller under this Agreement, a credit rating of ‘A’ or better, from a SEBI registered Indian credit rating agency mutually agreed between Seller and the Lender/s, consistently for a period of at least three (3) years; and
iii) Immediately prior to the three (3) year period mentioned in sub- clause (ii) above,, for a period of at least two (2) years there has been no Procurer Event of Default under Article 14 of the...
Collateral Arrangement. 8.4.11.1 As a further support for the Procurers’ obligations, on or prior to the Effective Date, the Procurer(s), the Seller and the default escrow agent shall execute separate Default Escrow Agreement (referred as “Default Escrow Agreement”) for the establishment and operation of the Default Escrow Account in favour of the Seller, through which the revenues of the Procurer/relevant Procurer shall be routed and used as per the terms of the Default Escrow Agreement. The Procurer(s), default escrow agent and the Seller shall contemporaneously with the execution of the Default Escrow Agreement(s) enter
