Delay in Commercial Operation. If the Certificate of Commercial Operations has not been submitted in accordance with this Agreement within the Build/Renovation Period or the certificate of commercial operation commencement of blast furnace unit(s) (if applicable) has not been submitted within the Build/Renovation Period, unless the delay is on account of reasons due to Force Majeure or any time extension agreed between the Parties, an amount equivalent to 0.55% (zero point five five percent) of the Performance Security for each Day of delay, subject to a maximum of 180 (one hundred and eighty) Days from the completion of the Build/Renovation Period, shall be appropriated from the Performance Security until the Certificate of Commercial Operation/certificate of commercial operation commencement of blast furnace unit(s) (if applicable) is issued and the Washery commences operations. Provided however, in case of delay beyond 180 (one hundred and eighty) Days from the completion of the Build/Renovation Period, the Authority shall have the right to terminate this Agreement.
Delay in Commercial Operation. If the Certificate of Commercial Operations has not been submitted in accordance with this Agreement within the Build/Renovation Period, unless the delay is on account of reasons due to Force Majeure or any time extension agreed between the Parties, an amount equivalent to 0.55% (zero point five five percent) of the Performance Security for each Day of delay, subject to a maximum of 180 (one hundred and eighty) Days from the completion of the Build/Renovation Period, shall be appropriated from the Performance Security until the Certificate of Commercial Operation is issued and the Washery commences operations. Provided however, in case of delay beyond 180 (one hundred and eighty) Days from the completion of the Build/Renovation Period, the Authority shall have the right to terminate this Agreement.
Delay in Commercial Operation
