Common use of Deferred Payment Liabilities on spectrum Clause in Contracts

Deferred Payment Liabilities on spectrum. (a) The Licensee may opt one time for higher number of instalments including in the current financial year 2017-18 (maximum 16 instalments) for deferred payment liabilities as per Notice Inviting Application (NIA) for auctions conducted for award of spectrum in the years 2012, 2013, 2014, 2015 and 2016 as detailed below: (b) These instalments are based upon the principle that the Net Present Value (NPV) of the “Payment Due” is protected as enumerated in respective NIAs for auctions in the years 2012, 2013, 2014, 2015 and 2016 as detailed below: Sr. No. Reference NIA Year of Spectrum Auction Rate of Interest 1 NIA dated 28.9.2012 November 2012 9.75% 2 NIA dated 30.1.2013 March 2013 9.75% 3 NIA dated 12.12.2013 February 2014 10.0% 4 NIA dated 9.1.2015 March 2015 10.0% 5 NIA dated 8.8.2016 October 2016 9.3% (c) The above one-time opportunity to opt for higher number of instalments for Deferred Payment Liabilities of TSPs for spectrum is another option in addition to currently available payment terms as mentioned in NIAs referred in para 18.3.1 (b) above. (d) There shall be no change in the moratorium period as provided in respective NIAs as referred in clause 18.3.1 (b) above for payment of deferred payment liabilities. (e) The instalments that have already been paid shall not be modified.