Common use of DISCOM Event of Default Clause in Contracts

DISCOM Event of Default. 5.1.1 The occurrence and continuation of any of the following events, unless any such event occurs as a result of a Force Majeure Event , shall constitute a Discom Event of Default: (i) Any amount subject to Article 4 remains outstanding beyond a period of sixty (60) days after the Due Date and NTPC is unable to recover the amount outstanding from the Discom through the Letter of Credit, Payment Security Fund and Default Escrow Account; or (ii) The Discom fails to evacuate power from the Delivery Points for a continuous period of one day. (iii) if (a) the Discom becomes voluntarily or involuntarily the subject of any bankruptcy or insolvency or winding up proceedings and such proceedings remain uncontested for a period of thirty (30) days, or (b) any winding up or bankruptcy or insolvency order is passed against the Discom, or (c) the Discom goes into liquidation or dissolution or has a receiver or any similar officer appointed over all or substantially all of its assets or official liquidator is appointed to manage its affairs, pursuant to Law, Provided that a dissolution or liquidation of the Discom will not be a Discom Event of Default if such dissolution or liquidation is for the purpose of a merger, consolidation or reorganization and where the resulting company retains creditworthiness similar to the Discom and expressly assumes all obligations of the Discom under this Agreement and is in a position to perform them; or (iv) the Discom repudiates this Agreement and does not rectify such breach within a period of thirty (30) days from a notice from NTPC in this regard; or (v) except where due to any NTPC ’s failure to comply with its material obligations, the Discom is in breach of any of its material obligations pursuant to this Agreement, and such material breach is not rectified by the Discom within thirty (30) days of receipt of first notice in this regard given by NTPC . (vi) occurrence of any other event which is specified in this Agreement to be a material breach/ default of the Discom.

DISCOM Event of Default. 5.1.1 10.2.1 The occurrence and the continuation of any of the following events, unless any such event occurs as a result of a Force Majeure Event event or a breach by the Solar Power Developer of its obligations under this Agreement, shall constitute a Discom the Event of Default on the part of defaulting DISCOM (“DISCOM Event of Default:”): (i) Any amount subject DISCOM fails to pay (with respect to payments due to the Solar Power Developer according to Article 4 remains outstanding beyond 5), for a period of sixty ninety (6090) days after the Due Date of Payment and NTPC the Solar Power Developer is unable to recover the amount outstanding from to the Discom Solar Power Developer through the Letter of Credit, Payment Security Fund and Default Escrow Account; or (ii) The Discom fails to evacuate power DISCOM repudiates this Agreement and does not rectify such a breach within a period of thirty (30) days from a notice in writing from the Delivery Points for a continuous period of one day.Solar Power Developer in this regard; or (iii) if except where due to any Solar Power Developer’s failure to comply with its obligations, DISCOM is in material breach of any of its obligations pursuant to this Agreement, and such material breach is not rectified by DISCOM within thirty (a30) days of receipt of notice in writing in this regard from the Discom Solar Power Developer to DISCOM; or (iv) if:- • DISCOM becomes voluntarily or involuntarily the subject of any bankruptcy or insolvency or winding up proceedings and such proceedings remain uncontested for a period of thirty (30) days, or (b) any winding up or bankruptcy or insolvency order is passed against the DiscomDISCOM, or (c) the Discom • DISCOM goes into liquidation or dissolution or has a receiver or any similar officer is appointed over all or substantially all of its assets or official liquidator is appointed to manage its affairs, pursuant to Lawlaw, Provided that it shall not constitute a DISCOM Event of Default, where such dissolution or liquidation of the Discom will not be a Discom Event of Default if such dissolution DISCOM or liquidation DISCOM is for the purpose of a merger, consolidation or reorganization and where the resulting company retains entity has the financial standing to perform its obligations under this Agreement and has creditworthiness similar to the Discom DISCOM and expressly assumes all obligations of the Discom under this Agreement DISCOM and is in a position to perform them; or (ivv) If DISCOM is subject to any of the Discom repudiates this Agreement above defaults and DISCOM does not rectify such breach within a period designate another DISCOM for purchase of thirty (30) days from a notice from NTPC in this regardSolar Power; or (v) except where due to any NTPC ’s failure to comply with its material obligations, the Discom is in breach of any of its material obligations pursuant to this Agreement, and such material breach is not rectified by the Discom within thirty (30) days of receipt of first notice in this regard given by NTPC . (vi) occurrence of any other event which is specified in this Agreement to be a material breach/ breach or default of the DiscomDISCOM.

DISCOM Event of Default. 5.1.1 10.2.1 The occurrence and the continuation of any of the following events, unless any such event occurs as a result of a Force Majeure Event event or a breach by the WtE Developer of its obligations under this Agreement, shall constitute a Discom the Event of Default on the part of defaulting DISCOM (“DISCOM Event of Default:”): (i) Any amount subject DISCOM fails to fulfil its obligations as laid out in Clause 6.2 (ii) DISCOM fails to pay (with respect to payments due to the WtE Developer according to Article 4 remains outstanding beyond 5 ), for a period of sixty ninety (6090) days after the Due Date of Payment and NTPC the WtE Developer is unable to recover the amount outstanding from to the Discom WtE Developer through the Letter of Credit, Payment Security Fund or (iii) DISCOM repudiates this Agreement and Default Escrow Accountdoes not rectify such breach even within a period of thirty (30) days from a notice from the WtE Developer in this regard; or (iiiv) The Discom fails except where due to evacuate power any WtE Developer’s failure to comply with its obligations, DISCOM is in material breach of any of its obligations pursuant to this Agreement, and such material breach is not rectified by DISCOM within thirty (30) days of receipt of notice in this regard from the Delivery Points for a continuous period of one day.WtE Developer to DISCOM; or (iiiv) if (a) the Discom if:-  DISCOM becomes voluntarily or involuntarily the subject of any bankruptcy or insolvency or winding up proceedings and such proceedings remain uncontested for a period of thirty (30) days, or (b) any winding up or bankruptcy or insolvency order is passed against the DiscomDISCOM, or (c) the Discom  DISCOM goes into liquidation or dissolution or has a receiver or any similar officer is appointed over all or substantially all of its assets or official liquidator is appointed to manage its affairs, pursuant to Law, law Provided that it shall not constitute a DISCOM Event of Default, where such dissolution or liquidation of the Discom will not be a Discom Event of Default if such dissolution DISCOM or liquidation DISCOM is for the purpose of a merger, consolidation or reorganization and where the resulting company retains entity has the financial standing to perform its obligations under this Agreement and has creditworthiness similar to the Discom DISCOM and expressly assumes all obligations of the Discom under this Agreement DISCOM and is in a position to perform them; or (ivvi) If DISCOM is subject to any of the Discom repudiates this Agreement above defaults and DISCOM does not rectify such breach within a period designate another DISCOM for purchase of thirty (30) days from a notice from NTPC in this regardWtE; or (vvii) except where due to any NTPC ’s failure to comply with its material obligations, the Discom is in breach of any of its material obligations pursuant to this Agreement, and such material breach is not rectified by the Discom within thirty (30) days of receipt of first notice in this regard given by NTPC . (vi) occurrence Occurrence of any other event which is specified in this Agreement to be a material breach/ breach or default of the DiscomDISCOM.

DISCOM Event of Default. 5.1.1 10.2.1 The occurrence and the continuation of any of the following events, unless any such event occurs as a result of a Force Majeure Event event or a breach by the Solar Power Developer of its obligations under this Agreement, shall constitute a Discom the Event of Default on the part of defaulting DISCOM (“DISCOM Event of Default:”): (i) Any amount subject DISCOM fails to pay (with respect to payments due to the Solar Power Developer according to Article 4 remains outstanding beyond 5), for a period of sixty ninety (6090) days after the Due Date of Payment and NTPC the Solar Power Developer is unable to recover the amount outstanding from to the Discom Solar Power Developer through the Letter of Credit, Payment Security Fund and Default Escrow Account; or (ii) The Discom fails to evacuate power DISCOM repudiates this Agreement and does not rectify such breach even within a period of thirty (30) days from a notice from the Delivery Points for a continuous period of one day.Solar Power Developer in this regard; or (iii) if except where due to any Solar Power Developer’s failure to comply with its obligations, DISCOM is in material breach of any of its obligations pursuant to this Agreement, and such material breach is not rectified by DISCOM within thirty (a30) days of receipt of notice in this regard from the Discom Solar Power Developer to DISCOM; or (iv) if:-  DISCOM becomes voluntarily or involuntarily the subject of any bankruptcy or insolvency or winding up proceedings and such proceedings remain uncontested for a period of thirty (30) days, or (b) any winding up or bankruptcy or insolvency order is passed against the DiscomDISCOM, or (c) the Discom  DISCOM goes into liquidation or dissolution or has a receiver or any similar officer is appointed over all or substantially all of its assets or official liquidator is appointed to manage its affairs, pursuant to Lawlaw, Provided that it shall not constitute a DISCOM Event of Default, where such dissolution or liquidation of the Discom will not be a Discom Event of Default if such dissolution DISCOM or liquidation DISCOM is for the purpose of a merger, consolidation or reorganization and where the resulting company retains entity has the financial standing to perform its obligations under this Agreement and has creditworthiness similar to the Discom DISCOM and expressly assumes all obligations of the Discom under this Agreement DISCOM and is in a position to perform them; or (ivv) If DISCOM is subject to any of the Discom repudiates this Agreement above defaults and DISCOM does not rectify such breach within a period designate another DISCOM for purchase of thirty (30) days from a notice from NTPC in this regardSolar Power; or (v) except where due to any NTPC ’s failure to comply with its material obligations, the Discom is in breach of any of its material obligations pursuant to this Agreement, and such material breach is not rectified by the Discom within thirty (30) days of receipt of first notice in this regard given by NTPC . (vi) occurrence of any other event which is specified in this Agreement to be a material breach/ breach or default of the DiscomDISCOM.

DISCOM Event of Default. 5.1.1 10.2.1 The occurrence and the continuation of any of the following events, unless any such event occurs as a result of a Force Majeure Event event or a breach by the Solar Power Developer of its obligations under this Agreement, shall constitute a Discom the Event of Default on the part of defaulting DISCOM (“DISCOM Event of Default:”): (i) Any amount subject DISCOM fails to pay (with respect to payments due to the Solar Power Developer according to Article 4 remains outstanding beyond 5), for a period of sixty ninety (6090) days after the Due Date of Payment and NTPC the Solar Power Developer is unable to recover the amount outstanding from to the Discom Solar Power Developer through the Letter of Credit, Payment Security Fund , (ii) DISCOM repudiates this Agreement and Default Escrow Accountdoes not rectify such breach even within a period of thirty (30) days from a notice from the Solar Power Developer in this regard; or (iiiii) The Discom fails except where due to evacuate power any Solar Power Developer’s failure to comply with its obligations, DISCOM is in material breach of any of its obligations pursuant to this Agreement, and such material breach is not rectified by DISCOM within thirty (30) days of receipt of notice in this regard from the Delivery Points for a continuous period of one day.Solar Power Developer to DISCOM; or (iiiiv) if (if:- a) the Discom DISCOM becomes voluntarily or involuntarily the subject of any bankruptcy or insolvency or winding up proceedings and such proceedings remain uncontested for a period of thirty (30) days, or (b) any winding up or bankruptcy bankrup tcy or insolvency order is passed against the DiscomDISCOM, or (cor b) the Discom DISCOM goes into liquidation or dissolution or has a receiver or any similar officer is appointed over all or substantially all of its assets or official liquidator is appointed to manage its affairs, pursuant to Law, law, c) Provided that it shall not constitute a DISCOM Event of Default, where such dissolution or liquidation of the Discom will not be a Discom Event of Default if such dissolution DISCOM or liquidation DISCOM is for the purpose of a merger, consolidation or reorganization and where the resulting company retains entity has the financial standing to perform its obligations under this Agreement and has creditworthiness similar to the Discom DISCOM and expressly assumes all obligations of the Discom under this Agreement DISCOM and is in a position to perform them; or (iv) the Discom repudiates this Agreement and does not rectify such breach within a period of thirty (30) days from a notice from NTPC in this regard; or; (v) except where due If DISCOM is subject to any NTPC ’s failure to comply with its material obligations, of the Discom is in breach above defaults and DISCOM does not designate another DISCOM for purchase of any of its material obligations pursuant to this Agreement, and such material breach is not rectified by the Discom within thirty (30) days of receipt of first notice in this regard given by NTPC Solar Power. (vi) occurrence of any other event which is specified in this Agreement to be a material breach/ breach or default of the DiscomDISCOM.

DISCOM Event of Default. 5.1.1 10.2.1 The occurrence and the continuation of any of the following events, unless any such event occurs as a result of a Force Majeure Event event or a breach by the Solar Power Developer of its obligations under this Agreement, shall constitute a Discom the Event of Default on the part of defaulting DISCOM (“DISCOM Event of Default:”): (i) Any amount subject DISCOM fails to pay (with respect to payments due to the Solar Power Developer according to Article 4 remains outstanding beyond 5), for a period of sixty ninety (6090) days after the Due Date of Payment and NTPC the Solar Power Developer is unable to recover the amount outstanding from to the Discom Solar Power Developer through the Letter of Credit, Payment Security Fund and Default Escrow Account; or (ii) The Discom fails to evacuate power DISCOM repudiates this Agreement and does not rectify such breach even within a period of thirty (30) days from a notice from the Delivery Points for a continuous period of one day.Solar Power Developer in this regard; or (iii) if except where due to any Solar Power Developer’s failure to comply with its obligations, DISCOM is in material breach of any of its obligations pursuant to this Agreement, and such material breach is not rectified by DISCOM within thirty (a30) days of receipt of notice in this regard from the Discom Solar Power Developer to DISCOM; or (iv) if:- • DISCOM becomes voluntarily or involuntarily the subject of any bankruptcy or insolvency or winding up proceedings and such proceedings remain uncontested for a period of thirty (30) days, or (b) any winding up or bankruptcy or insolvency order is passed against the DiscomDISCOM, or (c) the Discom • DISCOM goes into liquidation or dissolution or has a receiver or any similar officer is appointed over all or substantially all of its assets or official liquidator is appointed to manage its affairs, pursuant to Law, law Provided that it shall not constitute a DISCOM Event of Default, where such dissolution or liquidation of the Discom will not be a Discom Event of Default if such dissolution DISCOM or liquidation DISCOM is for the purpose of a merger, consolidation or reorganization and where the resulting company retains entity has the financial standing to perform its obligations under this Agreement and has creditworthiness similar to the Discom DISCOM and expressly assumes all obligations of the Discom under this Agreement DISCOM and is in a position to perform them; or (ivv) If DISCOM is subject to any of the Discom repudiates this Agreement above defaults and DISCOM does not rectify such breach within a period designate another DISCOM for purchase of thirty (30) days from a notice from NTPC in this regardSolar Power; or (v) except where due to any NTPC ’s failure to comply with its material obligations, the Discom is in breach of any of its material obligations pursuant to this Agreement, and such material breach is not rectified by the Discom within thirty (30) days of receipt of first notice in this regard given by NTPC . (vi) occurrence Occurrence of any other event which is specified in this Agreement to be a material breach/ breach or default of the DiscomDISCOM.

DISCOM Event of Default. 5.1.1 10.2.1 The occurrence and the continuation of any of the following events, unless any such event occurs as a result of a Force Majeure Event event or a breach by the Mini Hydel Project Developer of its obligations under this Agreement, shall constitute a Discom the Event of Default on the part of defaulting DISCOM (“DISCOM Event of Default:”): (i) Any amount subject DISCOM fails to Article 4 remains outstanding beyond pay (with respect to payments due to the Mini Hydel Project Developer according to ARTICLE 5), for a period of sixty ninety (6090) days after the Due Date of Payment and NTPC the Mini Hydel Project Developer is unable to recover the amount outstanding from to the Discom Mini Hydel Project Developer through the Letter of Credit, Payment Security Fund and Default Escrow Account; or (ii) The Discom fails to evacuate power DISCOM repudiates this Agreement and does not rectify such breach even within a period of thirty (30) days from a notice from the Delivery Points for a continuous period of one day.Mini Hydel Project Developer in this regard; or (iii) if except where due to any Mini Hydel Project Developer’s failure to comply with its obligations, DISCOM is in material breach of any of its obligations pursuant to this Agreement, and such material breach is not rectified by DISCOM within thirty (a30) days of receipt of notice in this regard from the Discom Mini Hydel Project Developer to DISCOM; or (iv) if:-  DISCOM becomes voluntarily or involuntarily the subject of any bankruptcy or insolvency or winding up proceedings and such proceedings remain uncontested for a period of thirty (30) days, or (b) any winding up or bankruptcy or insolvency order is passed against the DiscomDISCOM, or (c) the Discom  DISCOM goes into liquidation or dissolution or has a receiver or any similar officer is appointed over all or substantially all of its assets or official liquidator is appointed to manage its affairs, pursuant to Law, law Provided that it shall not constitute a DISCOM Event of Default, where such dissolution or liquidation of the Discom will not be a Discom Event of Default if such dissolution DISCOM or liquidation DISCOM is for the purpose of a merger, consolidation or reorganization and where the resulting company retains entity has the financial standing to perform its obligations under this Agreement and has creditworthiness similar to the Discom DISCOM and expressly assumes all obligations of the Discom under this Agreement DISCOM and is in a position to perform them; or (ivv) If DISCOM is subject to any of the Discom repudiates this Agreement above defaults and DISCOM does not rectify such breach within a period designate another DISCOM for purchase of thirty (30) days from a notice from NTPC in this regardMini Hydel Project; or (v) except where due to any NTPC ’s failure to comply with its material obligations, the Discom is in breach of any of its material obligations pursuant to this Agreement, and such material breach is not rectified by the Discom within thirty (30) days of receipt of first notice in this regard given by NTPC . (vi) occurrence Occurrence of any other event which is specified in this Agreement to be a material breach/ breach or default of the DiscomDISCOM.

DISCOM Event of Default. 5.1.1 9.1.1 The occurrence and continuation of any of the following events, unless any such event occurs as a result of a Force Majeure Event , shall constitute a Discom Event of Default: (i) Any amount amount, subject to Article 4 6.6 remains outstanding beyond a period of sixty ninety (6090) days after the Due Date and NTPC NVVN is unable to recover the amount outstanding from the Discom through the Letter of Credit, Payment Security Fund Credit and Default Escrow Account; or (ii) The Discom fails to evacuate power from the Delivery Points for a continuous period of one day……… [Insert duration]. (iii) if (a) the Discom becomes voluntarily or involuntarily the subject of any bankruptcy or insolvency or winding up proceedings and such proceedings remain uncontested for a period of thirty (30) days, or (b) any winding up or bankruptcy or insolvency order is passed against the Discom, or (c) the Discom goes into liquidation or dissolution or has a receiver or any similar officer appointed over all or substantially all of its assets or official liquidator is appointed to manage its affairs, pursuant to Law, Provided that a dissolution or liquidation of the Discom will not be a Discom Event of Default if such dissolution or liquidation is for the purpose of a merger, consolidation or reorganization and where the resulting company retains creditworthiness similar to the Discom and expressly assumes all obligations of the Discom under this Agreement and is in a position to perform them; or (iv) the Discom repudiates this Agreement and does not rectify such breach within a period of thirty (30) days from a notice from NTPC NVVN in this regard; or (v) except where due to any NTPC NVVN’s failure to comply with its material obligations, the Discom is in breach of any of its material obligations pursuant to this Agreement, and such material breach is not rectified by the Discom within thirty (30) days of receipt of first notice in this regard given by NTPC NVVN. (vi) occurrence of any other event which is specified in this Agreement to be a material breach/ default of the Discom.

DISCOM Event of Default. 5.1.1 10.2.1 The occurrence and the continuation of any of the following events, unless any such event occurs as a result of a Force Majeure Event event or a breach by the solar power developer of its obligations under this Agreement, shall constitute a Discom the Event of Default on the part of defaulting DISCOM (“DISCOM Event of Default:”): (i) Any amount subject DISCOM fails to pay (with respect to payments due to the solar power developer according to Article 4 remains outstanding beyond 5), for a period of sixty ninety (6090) days after the Due Date of Payment and NTPC the solar power developer is unable to recover the amount outstanding from to the Discom solar power developer through the Letter of Credit, Payment Security Fund and Default Escrow Account; or (ii) The Discom fails to evacuate power DISCOM repudiates this Agreement and does not rectify such a breach within a period of thirty (30) days from a notice in writing from the Delivery Points for a continuous period of one day.solar power developer in this regard; or (iii) if except where due to any solar power developer‟s failure to comply with its obligations, DISCOM is in material breach of any of its obligations pursuant to this Agreement, and such material breach is not rectified by DISCOM within thirty (a30) days of receipt of notice in writing in this regard from the Discom solar power developer to DISCOM; or (iv) if:- • DISCOM becomes voluntarily or involuntarily the subject of any bankruptcy or insolvency or winding up proceedings and such proceedings remain uncontested for a period of thirty (30) days, or (b) any winding up or bankruptcy or insolvency order is passed against the DiscomDISCOM, or (c) the Discom • DISCOM goes into liquidation or dissolution or has a receiver or any similar officer is appointed over all or substantially all of its assets or official liquidator is appointed to manage its affairs, pursuant to Lawlaw, Provided that it shall not constitute a DISCOM Event of Default, where such dissolution or liquidation of the Discom will not be a Discom Event of Default if such dissolution DISCOM or liquidation DISCOM is for the purpose of a merger, consolidation or reorganization and where the resulting company retains entity has the financial standing to perform its obligations under this Agreement and has creditworthiness similar to the Discom DISCOM and expressly assumes all obligations of the Discom under this Agreement DISCOM and is in a position to perform them; or (ivv) If DISCOM is subject to any of the Discom repudiates this Agreement above defaults and DISCOM does not rectify such breach within a period designate another DISCOM for purchase of thirty (30) days from a notice from NTPC in this regardSolar Power; or (v) except where due to any NTPC ’s failure to comply with its material obligations, the Discom is in breach of any of its material obligations pursuant to this Agreement, and such material breach is not rectified by the Discom within thirty (30) days of receipt of first notice in this regard given by NTPC . (vi) occurrence Occurrence of any other event which is specified in this Agreement to be a material breach/ breach or default of the DiscomDISCOM.

DISCOM Event of Default. 5.1.1 10.2.1 The occurrence and the continuation of any of the following events, unless any such event occurs as a result of a Force Majeure Event event or a breach by the Solar Power Developer of its obligations under this Agreement, shall constitute a Discom the Event of Default on the part of defaulting DISCOM (“DISCOM Event of Default:”): (i) Any amount subject DISCOM fails to pay (with respect to payments due to the Solar Power Developer according to Article 4 remains outstanding beyond 5), for a period of sixty ninety (6090) days after the Due Date of Payment and NTPC the Solar Power Developer is unable to recover the amount outstanding from to the Discom Solar Power Developer through the Letter of Credit, Payment Security Fund and Default Escrow Account; or (ii) The Discom fails to evacuate power DISCOM repudiates this Agreement and does not rectify such breach even within a period of thirty (30) days from a notice from the Delivery Points for a continuous period of one day.Solar Power Developer in this regard; or (iii) if except where due to any Solar Power Developer’s failure to comply with its obligations, DISCOM is in material breach of any of its obligations pursuant to this Agreement, and such material breach is not rectified by DISCOM within thirty (a30) days of receipt of notice in this regard from the Discom Solar Power Developer to DISCOM; or (iv) if:-  DISCOM becomes voluntarily or involuntarily the subject of any bankruptcy or insolvency or winding up proceedings and such proceedings remain uncontested for a period of thirty (30) days, or (b) any winding up or bankruptcy or insolvency order is passed against the DiscomDISCOM, or (c) the Discom  DISCOM goes into liquidation or dissolution or has a receiver or any similar officer is appointed over all or substantially all of its assets or official liquidator is appointed to manage its affairs, pursuant to Law, law Provided that it shall not constitute a DISCOM Event of Default, where such dissolution or liquidation of the Discom will not be a Discom Event of Default if such dissolution DISCOM or liquidation DISCOM is for the purpose of a merger, consolidation or reorganization and where the resulting company retains entity has the financial standing to perform its obligations under this Agreement and has creditworthiness similar to the Discom DISCOM and expressly assumes all obligations of the Discom under this Agreement DISCOM and is in a position to perform them; or (ivv) If DISCOM is subject to any of the Discom repudiates this Agreement above defaults and DISCOM does not rectify such breach within a period designate another DISCOM for purchase of thirty (30) days from a notice from NTPC in this regardSolar Power; or (v) except where due to any NTPC ’s failure to comply with its material obligations, the Discom is in breach of any of its material obligations pursuant to this Agreement, and such material breach is not rectified by the Discom within thirty (30) days of receipt of first notice in this regard given by NTPC . (vi) occurrence of any other event which is specified in this Agreement to be a material breach/ breach or default of the DiscomDISCOM.

DISCOM Event of Default. 5.1.1 13.2.1 The occurrence and the continuation of any of the following events, unless any such event occurs as a result of a Force Majeure Event or a breach by the RPG of its obligations under this Agreement, shall constitute a Discom the Event of Default: Default on the part of defaulting DISCOM: DISCOM fails to pay (i) Any amount with respect to a Monthly Xxxx or a Supplementary Xxxx), subject to Article 4 remains 10.5, for a period of ninety (90) days after the Due Date and the RPG is unable to recover the amount outstanding beyond to the RPG through the Letter of Credit, DISCOM repudiates this Agreement and does not rectify such breach even within a period of sixty (60) days after the Due Date and NTPC is unable to recover the amount outstanding from a notice from the Discom through the Letter RPG in this regard; or except where due to any RPG’s failure to comply with its obligations, DISCOM is in material breach of Creditany of its obligations pursuant to this Agreement, Payment Security Fund and Default Escrow Account; or such material breach is not rectified by DISCOM within sixty (ii60) The Discom fails to evacuate power days of receipt of notice in this regard from the Delivery Points for a continuous period of one day. (iii) RPG to DISCOM; or if (a) the Discom becomes DISCOM become voluntarily or involuntarily the subject of any bankruptcy or insolvency or winding up proceedings and such proceedings remain uncontested for a period of thirty sixty (3060) days, or (b) any winding up or bankruptcy or insolvency order is passed against the DiscomDISCOM, or (c) the Discom goes DISCOM go into liquidation or dissolution or has a receiver or any similar officer is appointed over all or substantially all of its assets or official liquidator is appointed to manage its affairs, pursuant to Law, Provided provided that it shall not constitute a DISCOM Event of Default, where such dissolution or liquidation of the Discom will not be a Discom Event of Default if such dissolution DISCOM or liquidation is DISCOMare for the purpose of a merger, consolidation or reorganization and where the resulting company retains entity has the financial standing to perform its obligations under this Agreement and has creditworthiness similar to the Discom DISCOM and expressly assumes all obligations of the Discom under this Agreement DISCOM and is in a position to perform them; or (iv) the Discom repudiates this Agreement and does not rectify such breach within a period of thirty (30) days from a notice from NTPC in this regard; or (v) except where due to any NTPC ’s failure to comply with its material obligations, the Discom is in breach of any of its material obligations pursuant to this Agreement, and such material breach is not rectified by the Discom within thirty (30) days of receipt of first notice in this regard given by NTPC . (vi) occurrence Occurrence of any other event which is specified in this Agreement to be a material breach/ breach or default of the DiscomDISCOM.

DISCOM Event of Default. 5.1.1 10.2.1 The occurrence and the continuation of any of the following events, unless any such event occurs as a result of a Force Majeure Event event or a breach by the Solar Power Developer of its obligations under this Agreement, shall constitute a Discom the Event of Default on the part of defaulting DISCOM (“DISCOM Event of Default:”): (i) Any amount subject DISCOM fails to pay (with respect to payments due to the Solar Power Developer according to Article 4 remains outstanding beyond 5), for a period of sixty ninety (6090) days after the Due Date of Payment and NTPC the Solar Power Developer is unable to recover the amount outstanding from to the Discom Solar Power Developer through the Letter of Credit, Payment Security Fund and Default Escrow Account; or (ii) The Discom fails to evacuate power DISCOM repudiates this Agreement and does not rectify such a breach within a period of thirty (30) days from a notice in writing from the Delivery Points for a continuous period of one day.Solar Power Developer in this regard; or (iii) if except where due to any Solar Power Developer’s failure to comply with its obligations, DISCOM is in material breach of any of its obligations pursuant to this Agreement, and such material breach is not rectified by DISCOM within thirty (a30) days of receipt of notice in writing in this regard from the Discom Solar Power Developer to DISCOM; or (iv) if:-  DISCOM becomes voluntarily or involuntarily the subject of any bankruptcy or insolvency or winding up proceedings and such proceedings remain uncontested for a period of thirty (30) days, or (b) any winding up or bankruptcy or insolvency order is passed against the DiscomDISCOM, or (c) the Discom  DISCOM goes into liquidation or dissolution or has a receiver or any similar officer is appointed over all or substantially all of its assets or official liquidator is appointed to manage its affairs, pursuant to Lawlaw, Provided that it shall not constitute a DISCOM Event of Default, where such dissolution or liquidation of the Discom will not be a Discom Event of Default if such dissolution DISCOM or liquidation DISCOM is for the purpose of a merger, consolidation or reorganization and where the resulting company retains entity has the financial standing to perform its obligations under this Agreement and has creditworthiness similar to the Discom DISCOM and expressly assumes all obligations of the Discom under this Agreement DISCOM and is in a position to perform them; or (ivv) If DISCOM is subject to any of the Discom repudiates this Agreement above defaults and DISCOM does not rectify such breach within a period designate another DISCOM for purchase of thirty (30) days from a notice from NTPC in this regardSolar Power; or (v) except where due to any NTPC ’s failure to comply with its material obligations, the Discom is in breach of any of its material obligations pursuant to this Agreement, and such material breach is not rectified by the Discom within thirty (30) days of receipt of first notice in this regard given by NTPC . (vi) occurrence of any other event which is specified in this Agreement to be a material breach/ breach or default of the DiscomDISCOM.

DISCOM Event of Default. 5.1.1 The occurrence and continuation of any of the following events, unless any such event occurs as a result of a Force Majeure Event , shall constitute a Discom Event of Default: (i) Any amount subject to Article 4 remains outstanding beyond a period of sixty (60) days after the Due Date and NTPC NHPC is unable to recover the amount outstanding from the Discom through the Letter of Credit, Payment Security Fund and Default Escrow Account; or (ii) The Discom fails to evacuate power from the Delivery Points for a continuous period of one day. (iii) if (a) the Discom becomes voluntarily or involuntarily the subject of any bankruptcy or insolvency or winding up proceedings and such proceedings remain uncontested for a period of thirty (30) days, or (b) any winding up or bankruptcy or insolvency order is passed against the Discom, or (c) the Discom goes into liquidation or dissolution or has a receiver or any similar officer appointed over all or substantially all of its assets or official liquidator is appointed to manage its affairs, pursuant to Law, Provided that a dissolution or liquidation of the Discom will not be a Discom Event of Default if such dissolution or liquidation is for the purpose of a merger, consolidation or reorganization and where the resulting company retains creditworthiness similar to the Discom and expressly assumes all obligations of the Discom under this Agreement and is in a position to perform them; or (iv) the Discom repudiates this Agreement and does not rectify such breach within a period of thirty (30) days from a notice from NTPC NHPC in this regard; or (v) except where due to any NTPC NHPC’s failure to comply with its material obligations, the Discom is in breach of any of its material obligations pursuant to this Agreement, and such material breach is not rectified by the Discom within thirty (30) days of receipt of first notice in this regard given by NTPC NHPC . (vi) occurrence of any other event which is specified in this Agreement to be a material breach/ default of the Discom.

DISCOM Event of Default. 5.1.1 10.2.1 The occurrence and the continuation of any of the following events, unless any such event occurs as a result of a Force Majeure Event event or a breach by the Solar Power Developer of its obligations under this Agreement, shall constitute a Discom the Event of Default on the part of defaulting DISCOM (“DISCOM Event of Default:”): (i) Any amount subject DISCOM fails to pay (with respect to payments due to the Solar Power Developer according to Article 4 remains outstanding beyond 5), for a period of sixty ninety (6090) days after the Due Date of Payment and NTPC the Solar Power Developer is unable to recover the amount outstanding from to the Discom Solar Power Developer through the Letter of Credit, Payment Security Fund and Default Escrow Account; or (ii) The Discom fails to evacuate power DISCOM repudiates this Agreement and does not rectify such breach even within a period of thirty (30) days from a notice from the Delivery Points for a continuous period of one day.Solar Power Developer in this regard; or (iii) if except where due to any Solar Power Developer’s failure to comply with its obligations, DISCOM is in material breach of any of its obligations pursuant to this Agreement, and such material breach is not rectified by DISCOM within thirty (a30) days of receipt of notice in this regard from the Discom Solar Power Developer to DISCOM; or (iv) if:-  DISCOM becomes voluntarily or involuntarily the subject of any bankruptcy or insolvency or winding up proceedings and such proceedings remain uncontested for a period of thirty (30) days, or (b) any winding up or bankruptcy or insolvency order is passed against the DiscomDISCOM, or (c) the Discom  DISCOM goes into liquidation or dissolution or has a receiver or any similar officer is appointed over all or substantially all of its assets or official liquidator is appointed to manage its affairs, pursuant to Law, law Provided that it shall not constitute a DISCOM Event of Default, where such dissolution or liquidation of the Discom will not be a Discom Event of Default if such dissolution DISCOM or liquidation DISCOM is for the purpose of a merger, consolidation or reorganization and where the resulting company retains entity has the financial standing to perform its obligations under this Agreement and has creditworthiness similar to the Discom DISCOM and expressly assumes all obligations of the Discom under this Agreement DISCOM and is in a position to perform them; or (ivv) If DISCOM is subject to any of the Discom repudiates this Agreement above defaults and DISCOM does not rectify such breach within a period designate another DISCOM for purchase of thirty (30) days from a notice from NTPC in this regardSolar Power; or (v) except where due to any NTPC ’s failure to comply with its material obligations, the Discom is in breach of any of its material obligations pursuant to this Agreement, and such material breach is not rectified by the Discom within thirty (30) days of receipt of first notice in this regard given by NTPC . (vi) occurrence Occurrence of any other event which is specified in this Agreement to be a material breach/ breach or default of the DiscomDISCOM.

DISCOM Event of Default. 5.1.1 10.2.1 The occurrence and the continuation of any of the following events, unless any such event occurs as a result of a Force Majeure Event event or a breach by the WtE Developer of its obligations under this Agreement, shall constitute a Discom the Event of Default on the part of defaulting DISCOM (“DISCOM Event of Default:”): (i) Any amount subject DISCOM fails to fulfil its obligations as laid out in Clause 6.2 (ii) DISCOM fails to pay (with respect to payments due to the WtE Developer according to Article 4 remains outstanding beyond 5), for a period of sixty ninety (6090) days after the Due Date of Payment and NTPC the WtE Developer is unable to recover the amount outstanding from to the Discom WtE Developer through the Letter of Credit, Payment Security Fund or (iii) DISCOM repudiates this Agreement and Default Escrow Accountdoes not rectify such breach even within a period of thirty (30) days from a notice from the WtE Developer in this regard; or (iiiv) The Discom fails except where due to evacuate power any WtE Developer’s failure to comply with its obligations, DISCOM is in material breach of any of its obligations pursuant to this Agreement, and such material breach is not rectified by DISCOM within thirty (30) days of receipt of notice in this regard from the Delivery Points for a continuous period of one day.WtE Developer to DISCOM; or (iiiv) if (a) the Discom if:- • DISCOM becomes voluntarily or involuntarily the subject of any bankruptcy or insolvency or winding up proceedings and such proceedings remain uncontested for a period of thirty (30) days, or (b) any winding up or bankruptcy or insolvency order is passed against the DiscomDISCOM, or (c) the Discom • DISCOM goes into liquidation or dissolution or has a receiver or any similar officer is appointed over all or substantially all of its assets or official liquidator is appointed to manage its affairs, pursuant to Law, law Provided that it shall not constitute a DISCOM Event of Default, where such dissolution or liquidation of the Discom will not be a Discom Event of Default if such dissolution DISCOM or liquidation DISCOM is for the purpose of a merger, consolidation or reorganization and where the resulting company retains entity has the financial standing to perform its obligations under this Agreement and has creditworthiness similar to the Discom DISCOM and expressly assumes all obligations of the Discom under this Agreement DISCOM and is in a position to perform them; or (ivvi) If DISCOM is subject to any of the Discom repudiates this Agreement above defaults and DISCOM does not rectify such breach within a period designate another DISCOM for purchase of thirty (30) days from a notice from NTPC in this regardWtE; or (vvii) except where due to any NTPC ’s failure to comply with its material obligations, the Discom is in breach of any of its material obligations pursuant to this Agreement, and such material breach is not rectified by the Discom within thirty (30) days of receipt of first notice in this regard given by NTPC . (vi) occurrence Occurrence of any other event which is specified in this Agreement to be a material breach/ breach or default of the DiscomDISCOM.