Common use of Compensation for short delivery/lifting Clause in Contracts

Compensation for short delivery/lifting. 4.5.1 If for a Year, the Level of Delivery by the Seller, or the Level of Lifting by the Purchaser falls below 100% with respect to that Year, the defaulting Party shall be liable to pay compensation to the other Party for such shortfall in Level of Delivery or Level of Lifting, as the case may be, (“Failed Quantity”) in terms of the following: 1 Less than 100% but upto 50% of ACQ NIL NIL 2 Below 50% of ACQ 10% 0.1 x P x [((100-LD or LL) – 50)/100] x ACQ) where P shall be the simple average of base prices grades as shown in the Schedule II. The Level of Delivery/ Level of Lifting that would cause compensation for the Failed Quantity payable by the defaulting Party, as mentioned in the table above, may be reviewed by the Seller in light of its Coal availability and Coal commitments, and amended accordingly on year-to-year basis at the sole discretion of the Seller during the term of the Agreement. 4.5.2 Compensation for short supply/lifting shall be payable by the defaulting Party to the other Party within a period of 90 days from the date of receipt of claim. In the event of non-payment within the due date, the defaulting Party shall be liable to pay interest as mentioned in the Clause 13 without prejudice to any other right available to the non-defaulting Party.

Compensation for short delivery/lifting. 4.5.1 If for a Year, the Level of Delivery by the Seller, or the Level of Lifting by the Purchaser falls below 100% with respect to that Year, the defaulting Party shall be liable to pay compensation to the other Party for such shortfall in the Level of Delivery or Level of Lifting, as the case may be, (“Failed Quantity”) in terms of the following: 1 Less than 100% but upto 50% of ACQ NIL NIL 2 Below 50% of ACQ 10% 0.1 x P x [((100-LD or LL) – 50)/100] x ACQ) where P shall be the simple average of base prices grades as shown in the Schedule II. The Level of Delivery/ Level of Lifting that would cause compensation for the Failed Quantity payable by the defaulting Party, as mentioned in the table above, may be reviewed by the Seller in light of its Coal availability and Coal commitments, and amended accordingly on year-to-year basis at the sole discretion of the Seller during the term of the Agreement. 4.5.2 Compensation for short supply/lifting shall be payable by the defaulting Party to the other Party within a period of 90 days from the date of receipt of claim. In the event of non-payment within the due date, the defaulting Party shall be liable to pay interest as mentioned in the Clause 13 12 without prejudice to any other right available to the non-defaulting Party.

Compensation for short delivery/lifting. 4.5.1 If for a Year, the Level of Delivery by the Seller, or the Level of Lifting by the Purchaser falls below 100% with respect to that Year, the defaulting Party shall be liable to pay compensation to the other Party for such shortfall in Level of Delivery or Level of Lifting, as the case may be, (“Failed Quantity”) in terms of the following: 1 Less than 100% but upto 5060% of ACQ NIL NIL 2 Below 50% of ACQ 10% 0.1 x P x [NIL ((100-LD or LLi) – 50)/100] x ACQ) where P The compensation for the Failed Quantity payable shall be the simple average aggregate of base prices grades as shown the compensation worked out separately with respect to each of the two levels provided in the Schedule II. table above, to be computed as per the income tax system. (ii) The Level of Delivery/ Level of Lifting that would cause compensation for the Failed Quantity payable by the defaulting Party, as mentioned in the table above, may be reviewed by the Seller in light of its Coal availability and Coal commitments, and amended accordingly on year-to-year basis at the sole discretion of the Seller during the term of the Agreement. 4.5.2 Compensation for short supply/lifting shall be payable by the defaulting Party to the other Party within a period of 90 days from the date of receipt of claim. In the event of non-payment within the due date, the defaulting Party shall be liable to pay interest as mentioned in the Clause 13 without prejudice to any other right available to the non-defaulting Party13.

Compensation for short delivery/lifting. 4.5.1 4.6.1 If for a Year, the Level of Delivery by the bythe Seller, or the Level of Lifting by the Purchaser falls below 100% with respect to that Year, the defaulting Party shall be liable to pay compensation to the other Party for such shortfall in Level of Delivery or Level of Lifting, as the case may be, (“Failed Quantity”) in terms of the followingfollowing : 1 Less than 100% but upto 50% of ACQ NIL NIL 2 Below 50% of ACQ 10% 0.1 x P x [((100-LD or LL) – 50)/100] x ACQ) where P shall be the simple average of base prices grades as shown in the Schedule II. 10 The Level of Delivery/ Level of Lifting that would cause compensation for the Failed Quantity payable by the defaulting Party, as mentioned in the table above, may be reviewed by the Seller in light of its Coal availability and Coal commitments, and amended accordingly on year-to-year basis at the sole discretion of the Seller during the term of the Agreement. 4.5.2 4.6.2 Compensation for short supply/lifting shall be payable by the defaulting thedefaulting Party to the other Party within a period of 90 days from the date of receipt of claim. In the event of non-payment within the due date, the defaulting Party shall be liable to pay interest as mentioned in the Clause 13 without prejudice to any other right available to the non-defaulting Party.

Compensation for short delivery/lifting. 4.5.1 4.6.1 If for a Year, the Level of Delivery by the Seller, or the Level of Lifting by the Purchaser falls below 100% with respect to that Year, the defaulting Party shall be liable to pay compensation to the other Party for such shortfall in Level of Delivery or Level of Lifting, as the case may be, (“Failed Quantity”) in terms of the followingfollowing : 1 Less than 100% but upto 50% of ACQ NIL NIL 2 Below 50% of ACQ 10% 0.1 x P x [((100-LD or LL) – 50)/100] x ACQ) where P shall be the simple average of base prices grades as shown in the Schedule II. The Level of Delivery/ Level of Lifting that would cause compensation for the Failed Quantity payable by the defaulting Party, as mentioned in the table above, may be reviewed by the Seller in light of its Coal availability and Coal commitments, and amended accordingly on year-to-year basis at the sole discretion of the Seller during the term of the Agreement. 4.5.2 4.6.2 Compensation for short supply/lifting shall be payable by the defaulting Party to the other Party within a period of 90 days from the date of receipt of claim. In the event of non-payment within the due date, the defaulting Party shall be liable to pay interest as mentioned in the Clause 13 without prejudice to any other right available to the non-defaulting Party13.

Compensation for short delivery/lifting. 4.5.1 4.6.1 If for a Year, the Level of Delivery by the Seller, or the Level of Lifting by the Purchaser falls below 100% with respect to that Year, the defaulting Party shall be liable to pay compensation to the other Party for such shortfall in Level of Delivery or Level of Lifting, as the case may be, (“Failed Quantity”) in terms of the followingfollowing : 1 Less than 100% but upto 50% of ACQ NIL NIL 2 Below 50% of ACQ 10% 0.1 x P x [((100-LD or LL) – 50)/100] x ACQ) where P shall be the simple average of base prices grades as shown in the Schedule II. The Level of Delivery/ Level of Lifting that would cause compensation for the Failed Quantity payable by the defaulting Party, as mentioned in the table above, may be reviewed by the Seller in light of its Coal availability and Coal commitments, and amended accordingly on year-to-year basis at the sole discretion of the Seller during the term of the Agreement. 4.5.2 4.6.2 Compensation for short supply/lifting shall be payable by the defaulting Party to the other Party within a period of 90 days from the date of receipt of claim. In the event of non-payment within the due date, the defaulting Party shall be liable to pay interest as mentioned in the Clause 13 without prejudice to any other right available to the non-defaulting Party.

Compensation for short delivery/lifting. 4.5.1 If for a Year, the Level of Delivery by Deliveryby the Seller, or the Level of Lifting by the bythe Purchaser falls below 100% with respect to that Year, the defaulting Party shall be liable to pay compensation to the other Party for such shortfall in Level of Delivery or Level of Lifting, as the case may be, (“Failed Quantity”) in terms of the following: 1 Less than 100% but upto 5060% of ACQ NIL NIL 2 Below 50% of ACQ 10% 0.1 x P x [NIL ((100-LD or LLi) – 50)/100] x ACQ) where P The compensation for the Failed Quantity payable shall be the simple average aggregate of base prices grades as shown the compensation worked out separately with respect to each of the two levels provided in the Schedule II. table above, to be computed as per the income tax system. (ii) The Level of Delivery/ Level of Lifting that would cause compensation for the Failed Quantity payable by the defaulting Party, as mentioned in the table above, may be reviewed by the Seller in light of its Coal availability and Coal commitments, and amended accordingly on year-to-year basis at the sole discretion of the Seller during the term of the Agreement. 4.5.2 Compensation for short supply/lifting shall be payable by the defaulting Party to the other Party within a period of 90 days from the date of receipt of claim. In the event of non-payment within the due date, the defaulting Party shall be liable to pay interest as mentioned in the Clause 13 without prejudice to any other right available to the non-defaulting Party13.