Common use of Lease Period Clause in Contracts

Lease Period. This Land Lease Agreement shall be for useful life of the plant i.e. 25 years from the date of scheduled commercial operation (SCOD) of the project with provision for further extension on terms and conditions mutually agreed upon by both the parties in writing. In case of termination of existing PPA and/ or Implementation & Support Agreement due to any reason thereof, this Agreement stands terminated automatically.

Lease Period. This Land Lease Agreement shall be for useful life of the plant i.e. 25 years from the date of scheduled commercial operation (SCOD) of the project with provision for further extension on terms and conditions mutually agreed upon by both the parties all concerned parties, (DICDC/DSIRA, SPD & SPIA) in writing. In case of termination of existing PPA and/ or Implementation & Support Agreement due to any reason thereof, this Agreement stands terminated automatically.