Common use of COMMENCEMENT & PERIOD OF AGREEMENT Clause in Contracts

COMMENCEMENT & PERIOD OF AGREEMENT. 2.1 This Agreement shall come into force on the Effective Date.. 2.2 This Agreement shall, unless terminated in accordance with the terms hereof, remain in force commencing from the Effective Date till the end of five (5) years from the First Delivery Date. 2.3 After completion of three (3) years from the First Delivery Date, either Party may, by prior written notice to the other Party for period not less than 30 days, seek a review of this Agreement. Notwithstanding, the ACQ shall be revised to the highest of the quantities booked by the Purchaser in such three (3) years for the remaining two (2) years of the Agreement subject to average Level of Lifting(LL) by the Purchaser (as calculated in accordance with Clause 4.8) in the last three (3) years being less than eighty percent (80%). It is expressly clarified that no such revision in ACQ shall take place if the average Level of Lifting (LL), as per the foregoing, is greater than eighty percent (80%). 2.4 Notwithstanding the provisions of Clause 2.2 above, in the event of any change in the Grade structure of Coal, such changed Grade structure shall be binding and complied with by both the Parties. The Seller shall within seven (7) days of introduction of such change provide a written notice to the Purchaser calling for a joint review of such provisions of this Agreement on which such change in the Grade structure has a bearing, and upon such joint review, this Agreement shall be duly amended in writing to bring it in full conformity with such change.. 2.5 If the review in terms of Clause 2.3 does not result in a mutually agreed position with respect to the subject matter of review, this Agreement shall nevertheless continue to be in force. However, if despite further efforts the Parties are unable to arrive at a mutually agreed position with respect to the subject matter of review, within a period of nine (9) months from the date of notice in terms of Clause 2.3, the aggrieved Party shall have the right to terminate the Agreement subject to a further notice of three (3) months given in writing to the other Party 2.6 (Not Used) 2.7 On completion of five (5) years from the First Delivery Date, this Agreement shall expire unless both the Parties mutually agree in writing to extend the Agreement, on the same or such terms as may be agreed upon by the Parties.

COMMENCEMENT & PERIOD OF AGREEMENT. 2.1 This Agreement shall come into force on the Effective Date.. 2.2 This Agreement shall, unless terminated in accordance with the terms hereof, remain in force commencing from the Effective Date till the end of five (5) years from the First Delivery Date. 2.3 After completion of three (3) years from the First Delivery Date, either Party may, by prior written notice to the other Party for period not less than 30 days, seek a review of this Agreement. Notwithstanding, the ACQ shall be revised to the highest of the quantities booked by the Purchaser in such three (3) years for the remaining two (2) years of the Agreement subject to average Level of Lifting(LL) by the Purchaser (as calculated in accordance with Clause 4.8) in the last three (3) years being less than eighty percent (80%). It is expressly clarified that no such revision in ACQ shall take place if the average Level of Lifting (LL), as per the foregoing, is greater than eighty percent (80%). 2.4 Notwithstanding the provisions of Clause 2.2 above, in the event of any change in the Grade structure of Coal, such changed Grade structure shall be binding and complied with by both the Parties. The Seller shall within seven (7) days of introduction of such change provide a written notice to the Purchaser calling for a joint review of such provisions of this Agreement on which such change in the Grade structure has a bearing, and upon such joint review, this Agreement shall be duly amended in writing to bring it in full conformity with such change... 2.5 If the review in terms of Clause 2.3 does not result in a mutually agreed position with respect to the subject matter of review, this Agreement shall nevertheless continue to be in force. However, if despite further efforts the Parties are unable to arrive at a mutually agreed position with respect to the subject matter of review, within a period of nine (9) months from the date of notice in terms of Clause 2.3, the aggrieved Party shall have the right to terminate the Agreement subject to a further notice of three (3) months given in writing to the other Party. 2.6 (Not Used) 2.7 On completion of five (5) years from the First Delivery Date, this Agreement shall expire unless both the Parties mutually agree in writing to extend the Agreement, on the same or such terms as may be agreed upon by the Parties.

COMMENCEMENT & PERIOD OF AGREEMENT. 2.1 This Agreement shall come into force on with effect from the Effective day the Parties sign this Agreement (the “Signature Date..”). 2.2 This Agreement shall, unless terminated in accordance with the terms hereof, remain in force commencing from the Effective Signature Date till the end of five (5) years from the First Delivery Date. 2.3 After completion of three (3) years from the First Delivery Date, either Party may, by prior written notice to the other Party for period not less than 30 days, seek a review of this Agreement. Notwithstanding, the ACQ shall be revised to the highest of the quantities booked by the Purchaser in such three (3) years for the remaining two (2) years of the Agreement subject to average Level of Lifting(LL) by the Purchaser (as calculated in accordance with Clause 4.8) in the last three (3) years being less than eighty percent (80%). It is expressly clarified that no such revision in ACQ shall take place if the average Level of Lifting (LL), as per the foregoing, is greater than eighty percent (80%). 2.4 Notwithstanding the provisions of Clause 2.2 above, in the event of any change in the Grade structure of Coal, such changed Grade structure shall be binding and complied with by both the Parties. The Seller shall within seven (7) days of introduction of such change provide a written notice to the Purchaser calling for a joint review of such provisions of this Agreement on which such change in the Grade structure has a bearing, and upon such joint review, this Agreement shall be duly amended in writing to bring it in full conformity with such change... 2.5 If the review in terms of Clause 2.3 does not result in a mutually agreed position with respect to the subject matter of review, this Agreement shall nevertheless continue to be in force. However, if despite further efforts the Parties are unable to arrive at a mutually agreed position with respect to the subject matter of review, within a period of nine (9) months from the date of notice in terms of Clause 2.3, the aggrieved Party shall have the right to terminate the Agreement subject to a further notice of three (3) months given in writing to the other Party. 2.6 In the event of any material change in the Coal distribution system of the Seller due to a Government directive/ notification, at any time after the execution of this Agreement, the Seller shall within seven (Not Used)7) days of introduction of such change provide a written notice to the Purchaser calling for a joint review. If the Parties are unable to arrive at a mutually agreed position with respect to the subject matter of review, within a period of thirty (30) days from the date of notice, CIL shall have the right to terminate the Agreement subject to a further notice of thirty (30) days given in writing to the other Party. 2.7 On completion of five (5) years from the First Delivery Date, this Agreement shall expire unless both the Parties mutually agree in writing to extend the Agreement, on the same or such terms as may be agreed upon by the Parties.

COMMENCEMENT & PERIOD OF AGREEMENT. 2.1 This Agreement shall come into force on with effect from the Effective day the Parties sign this Agreement (the “Signature Date..”). 2.2 This Agreement shall, unless terminated in accordance with the terms hereof, remain in force commencing from the Effective Signature Date till the end of five (5) years from the First Delivery Date. 2.3 After completion of three (3) years from the First Delivery Date, either Party may, by prior written notice to the other Party for period not less than thirty (30 days), seek a review of this Agreement. Notwithstanding, the ACQ shall be revised to the highest of the yearly quantities booked by the Purchaser in such three (3) years for the remaining two (2) years of the Agreement subject to average Level of Lifting(LL) by the Purchaser (as calculated in accordance with Clause 4.84.6.2) in the last three (3) years being less than eighty percent (80%). It is expressly clarified that no such revision in ACQ shall take place if the average Level of Lifting (LL), as per the foregoing, is greater than eighty percent (80%). 2.4 Notwithstanding the provisions of Clause 2.2 above, in the event of any change in the Grade structure of Coal, such changed Grade structure shall be binding and complied with by both the Parties. The Seller shall within seven (7) days of introduction of such change provide a written notice to the Purchaser calling for a joint review of such provisions of this Agreement on which such change in the Grade structure has a bearing, and upon such joint review, this Agreement shall be duly amended in writing to bring it in full conformity with such change... 2.5 If the review in terms of Clause 2.3 does not result in a mutually agreed position with respect to the subject matter of review, this Agreement shall nevertheless continue to be in force. However, if despite further efforts the Parties are unable to arrive at a mutually agreed position with respect to the subject matter of review, within a period of nine (9) months from the date of notice in terms of Clause 2.3, the aggrieved Party shall have the right to terminate the Agreement subject to a further notice of three (3) months given in writing to the other Party. 2.6 In the event of any material change in the Coal distribution system of the Seller due to a Government directive/ notification, at any time after the execution of this Agreement, the Seller shall within seven (Not Used)7) days of introduction of such change provide a written notice to the Purchaser calling for a joint review. If the Parties are unable to arrive at a mutually agreed position with respect to the subject matter of review, within a period of thirty (30) days from the date of notice, CIL shall have the right to terminate the Agreement subject to a further notice of thirty (30) days given in writing to the other Party. 2.7 On completion of five (5) years from the First Delivery Date, this Agreement shall expire unless both the Parties mutually agree in writing to extend the Agreement, on the same or such terms as may be agreed upon by the Parties.

COMMENCEMENT & PERIOD OF AGREEMENT. 2.1 This Agreement shall come into force on the Effective Date... . 2.2 This Agreement shall, unless terminated in accordance with the terms hereof, remain in force commencing from the Effective Date till the end of five (5) years from the First Delivery Date. 2.3 After completion of three (3) years from the First Delivery Date, either Party may, by prior written notice to the other Party for period not less than 30 days, seek a review of this Agreement. Notwithstanding, the ACQ shall be revised to the highest of the quantities booked by the Purchaser in such three (3) years for the remaining two (2) years of the Agreement subject to average Level of Lifting(LL) by the Purchaser (as calculated in accordance with Clause 4.8) in the last three (3) years being less than eighty percent (80%). It is expressly clarified that no such revision in ACQ shall take place if the average Level of Lifting (LL), as per the foregoing, is greater than eighty percent (80%). 2.4 Notwithstanding the provisions of Clause 2.2 above, in the event of any change in the Grade structure of Coal, such changed Grade structure shall be binding and complied with by both the Parties. The Seller shall within seven (7) days of introduction of such change provide a written notice to the Purchaser calling for a joint review of such provisions of this Agreement on which such change in the Grade structure has a bearing, and upon such joint review, this Agreement shall be duly amended in writing to bring it in full conformity with such change... 2.5 If the review in terms of Clause 2.3 does not result in a mutually agreed position with respect to the subject matter of review, this Agreement shall nevertheless continue to be in force. However, if despite further efforts the Parties are unable to arrive at a mutually agreed position with respect to the subject matter of review, within a period of nine (9) months from the date of notice in terms of Clause 2.3, the aggrieved Party shall have the right to terminate the Agreement subject to a further notice of three (3) months given in writing to the other Party 2.6 (Not Used) 2.7 On completion of five (5) years from the First Delivery Date, this Agreement shall expire unless both the Parties mutually agree in writing to extend the Agreement, on the same or such terms as may be agreed upon by the Parties.