Common use of Damages for shortfall Clause in Contracts

Damages for shortfall. ‌ 21.5.1 Upon COD, in the event the excavated and Delivered Coal in any Accounting Year (“Actual Production”) is less than the Annual Capacity for such Accounting Year, other than where such shortfall arises directly on account of (i) Force Majeure; or (ii) a default of the Authority; or (iii) non-Delivery of Coal pursuant to Clause 16.13, the Mine Operator shall be liable to pay the following amounts as Damages for the shortfall in Actual Production of Coal, as indicated below. It is clarified that in respect of the Accounting Year during which the Transfer Date occurs, the shortfall will be determined with respect to the Actual Production during the number of months in such Accounting Year prior to the Transfer Date and the Annual Capacity for such Accounting Year shall be pro-rated for the number of months in such Accounting Year. 100% to 90% Nil 90% to 80% 10% of Mining Charge multiplied by the difference between the Actual Production and 90% of the Annual Production Programme. 80% to 70% (a) 10% of Mining Charge multiplied by 10% of the Annual Production Programme (being the difference between 90% and 80% of the Annual Production Programme); and (b) 20% of Mining Charge multiplied by the difference between Actual Production and 80% of the Annual Production Programme. 70% to 50% (a) 10% of Mining Charge multiplied by 10% of the Annual Production Programme (being the difference between 90% and 80% of the Annual Production Programme); (b) 20% of Mining Charge multiplied by 10% of the Annual Production Programme (being the difference between 80% and 70% of the Annual Production Programme); and (c) 30% of Mining Charge multiplied by the difference between Actual Production and 70% of the Annual Production Programme. In addition, the Agreement will be reviewed by a review committee duly constituted by the Authority. Less than 50% (a) 10% of Mining Charge multiplied by 10% of the Annual Production Programme (being the difference between 90% and 80% of the Annual Production Programme); (b) 20% of Mining Charge multiplied by 10% of the Annual Production Programme (being the difference between 80% and 70% of the Annual Production Programme); (c) 30% of Mining Charge multiplied by 20% of the Annual Production Programme (being the difference between 70% and 50% of the Annual Production Programme); and (d) 40% of Mining Charge multiplied by the difference between Actual Production and 50% of the Annual Production Programme. In addition, the Agreement will be reviewed by a review committee duly constituted by the Authority to take appropriate decision.

Appears in 1 contract

Samples: Contract Agreement

AutoNDA by SimpleDocs

Damages for shortfall. ‌ 21.5.1 Upon COD, in 20.4.1. In the event of the excavated and Delivered Coal in any Accounting Year (“Actual Production”) monthly MIC production is less than the Annual corresponding Actual Quarter Capacity for such Accounting Year, other than where such shortfall arises directly on account of (ia) Force Majeure; or (iib) a default of the AuthorityHCL; or (iii) non-Delivery of Coal pursuant to Clause 16.13, the Mine Operator MDO shall be liable to pay the following amounts as Damages for the shortfall in Actual Quarterly Production of CoalMIC, as indicated below. 20.4.2. It is clarified that in respect of the Quarter during which the COD or prior to the Transfer Date (as applicable), the shortfall will be determined with respect to the Actual Quarterly Production during the number of days in such Quarter subsequent to the COD or prior to the Transfer Date (as applicable) and the Quarterly Capacity for such Quarter shall be pro-rated for the number of days in such Accounting Quarter. 20.4.3. It is clarified that in respect of the Accounting Year during which the COD or the Transfer Date occurs, the shortfall will be determined with respect to the Actual Production during the number of months in such Accounting Year subsequent to the COD or prior to the Transfer Date (as applicable) and the Annual Capacity for such Accounting Year shall be pro-rated for the number of months in such Accounting Year. 100100 % to 9090 % Nil 9090 % to 8080 % 5% of the Performance Security 80 % to 70 % 10% of Mining Charge multiplied by the difference between Performance Security 70% and below In addition, in the event the Actual Quarterly Production is below 75%, occurrence of such shortfall in Actual Quarterly Production shall be deemed to be MDO Default for the purposes of Clause 33.1 and 90% of the Annual Production Programme. 80% HCL shall be entitled to 70% (a) 10% of Mining Charge multiplied by 10% of the Annual Production Programme (being the difference between 90% and 80% of the Annual Production Programme); and (b) 20% of Mining Charge multiplied by the difference between Actual Production and 80% of the Annual Production Programme. 70% to appropriate 50% (afifty percent) 10% of Mining Charge multiplied by 10% of the Annual Production Programme (being Performance Security and the difference between 90% and 80% of MDO shall replenish the Annual Production Programme); (b) 20% of Mining Charge multiplied by 10% of the Annual Production Programme (being the difference between 80% and 70% of the Annual Production Programme); and (c) 30% of Mining Charge multiplied by the difference between Actual Production and 70% of the Annual Production ProgrammePerformance Security to its original level before such appropriation in accordance with Clause 9.2. In addition, the The Agreement will be reviewed by a review committee duly constituted by HCL which may consider termination of the AuthorityAgreement if the shortfall in Actual Quarterly Production is for reasons attributable to the MDO. Less than 50% (a) 10% HCL shall reconcile measurement of Mining Charge multiplied by 10work done at the end of each completed year, and excess amount of penalty on account of non-achieving quarterly target earlier, deducted earlier from the bills of the successful bidder on quarterly basis during the completed period of the same accounting year, shall be refunded to the successful bidder on achievement of 100% of the Annual Production Programme (being the difference between 90% and 80% of the Annual Production Programme); (b) 20% of Mining Charge multiplied by 10% of the Annual Production Programme (being the difference between 80% and 70% of the Annual Production Programme); (c) 30% of Mining Charge multiplied by 20% of the Annual Production Programme (being the difference between 70% and 50% of the Annual Production Programme); and (d) 40% of Mining Charge multiplied by the difference between Actual Production and 50% of the Annual Production Programme. In addition, the Agreement will be reviewed by a review committee duly constituted by the Authority to take appropriate decisionannual target.

Appears in 1 contract

Samples: Mining Services Agreement

Damages for shortfall. 21.5.1 Upon COD, in the event the excavated and Delivered Coal in any Accounting Year (“Actual Production”) is less than the Annual Capacity for such Accounting Year, other than where such shortfall arises directly on account of (i) Force Majeure; or (ii) a default of the Authority; or (iii) non-Delivery of Coal pursuant to Clause 16.13, the Mine Operator shall be liable to pay the following amounts as Damages for the shortfall in Actual Production of Coal, as indicated below. It is clarified that in respect of the Accounting Year during which the COD or the Transfer Date occurs, the shortfall will be determined with respect to the Actual Production during the number of months in such Accounting Year subsequent to the COD or prior to the Transfer Date (as applicable) and the Annual Capacity for such Accounting Year shall be pro-pro rated for the number of months in such Accounting Year. 100% to 90% Nil 90% to 80% 10% of Mining Charge multiplied by the difference between the Actual Production and 90% of the Annual Production Programme. 80% to 70% (a) 10% of Mining Charge multiplied by 10% of the Annual Production Programme (being the difference between 90% and 80% of the Annual Production Programme); and (b) 20% of Mining Charge multiplied by the difference between Actual Production and 80% of the Annual Production Programme. 70% to 50% (a) 10% of Mining Charge multiplied by 10% of the Annual Production Programme (being the difference between 90% and 80% of the Annual Production Programme); (b) 20% of Mining Charge multiplied by 10% of the Annual Production Programme (being the difference between 80% and 70% of the Annual Production Programme); and (c) 30% of Mining Charge multiplied by the difference between Actual Production and 70% of the Annual Production Programme. In addition, the Agreement will be reviewed by a review committee duly constituted by the AuthorityAuthority which may consider termination of the Agreement if the shortfall in Actual Production is for reasons attributable to the Mine Operator. Less than 50% (a) 10% of Mining Charge multiplied by 10% of the Annual Production Programme (being the difference between 90% and 80% of the Annual Production Programme); (b) 20% of Mining Charge multiplied by 10% of the Annual Production Programme (being the difference between 80% and 70% of the Annual Production Programme); and (c) 30% of Mining Charge multiplied by 20% of the Annual Production Programme (being the difference between 70% and 50% of the Annual Production Programme); and (d) 40% of Mining Charge multiplied by the difference between Actual Production and 50% of the Annual Production Programme. In addition, occurrence of such shortfall in Actual Production shall be deemed to be a Mine Operator Default for the Agreement will be reviewed by a review committee duly constituted by purposes of Clause 37.1.1 and the Authority shall be entitled to take appropriate decision50% (fifty percent) of the Performance Security and the Mine Operator shall replenish the Performance Security to its original level before such appropriation in accordance with Clause 9.2. In addition to and without prejudice to the foregoing, the Authority shall be entitled to terminate this Agreement in accordance with Article 37 for Mine Operator Default.

Appears in 1 contract

Samples: Coal Mining Agreement

AutoNDA by SimpleDocs

Damages for shortfall. ‌ 21.5.1 Upon COD, in the event the excavated and Delivered Coal in any Accounting Year (“Actual Production”) is less than the Annual Capacity for such Accounting Year, other than where such shortfall arises directly on account of (i) Force Majeure; or (ii) a default of the Authority; or (iii) non-Delivery of Coal pursuant to Clause 16.13, the Mine Operator shall be liable to pay the following amounts as Damages for the shortfall in Actual Production of Coal, as indicated below. It is clarified that in respect of the Accounting Year during which the COD or the Transfer Date occurs, the shortfall will be determined with respect to the Actual Production during the number of months in such Accounting Year subsequent to the COD or prior to the Transfer Date (as applicable) and the Annual Capacity for such Accounting Year shall be pro-pro rated for the number of months in such Accounting Year. 100% to 90% Nil 90% to 80% 10% of Mining Charge multiplied by the difference between the Actual Production and 90% of the Annual Production Programme. 80% to 70% (a) 10% of Mining Charge multiplied by 10% of the Annual Production Programme (being the difference between 90% and 80% of the Annual Production Programme); and (b) 20% of Mining Charge multiplied by the difference between Actual Production and 80% of the Annual Production Programme. 70% to 50% (a) 10% of Mining Charge multiplied by 10% of the Annual Production Programme (being the difference between 90% and 80% of the Annual Production Programme); (b) 20% of Mining Charge multiplied by 10% of the Annual Production Programme (being the difference between 80% and 70% of the Annual Production Programme); and (c) 30% of Mining Charge multiplied by the difference between Actual Production and 70% of the Annual Production Programme. In addition, the Agreement will be reviewed by a review committee duly constituted by the AuthorityAuthority which may consider termination of the Agreement if the shortfall in Actual Production is for reasons attributable to the Mine Operator. Less than 50% (a) 10% of Mining Charge multiplied by 10% of the Annual Production Programme (being the difference between 90% and 80% of the Annual Production Programme); (b) 20% of Mining Charge multiplied by 10% of the Annual Production Programme (being the difference between 80% and 70% of the Annual Production Programme); and (c) 30% of Mining Charge multiplied by 20% of the Annual Production Programme (being the difference between 70% and 50% of the Annual Production Programme); and (d) 40% of Mining Charge multiplied by the difference between Actual Production and 50% of the Annual Production Programme. In addition, occurrence of such shortfall in Actual Production shall be deemed to be a Mine Operator Default for the Agreement will be reviewed by a review committee duly constituted by purposes of Clause 37.1.1 and the Authority shall be entitled to take appropriate decision50% (fifty percent) of the Performance Security and the Mine Operator shall replenish the Performance Security to its original level before such appropriation in accordance with Clause 9.2. In addition to and without prejudice to the foregoing, the Authority shall be entitled to terminate this Agreement in accordance with Article 37 for Mine Operator Default.

Appears in 1 contract

Samples: Coal Mining Agreement

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!