Common use of Level of Delivery and Level of Lifting Clause in Contracts

Level of Delivery and Level of Lifting. The Level of Delivery with respect to a Year shall be calculated in the form of percentage as per the following formula: Level of Delivery (LD) = (DQ+DDQ+FM) X 100 ACQ Where: LD = Level of Delivery of the Contracted Grade of Coal by the Seller for the Year. DQ = Delivered Quantity, namely, aggregate of actual quantities of the Contracted Grade(s) of Coal delivered by the Seller for the Year or sale order quantity obtained by the Purchaser by paying advance amount, whichever is higher. DDQ = Deemed Delivered Quantity, reckoned in the manner stated in Clause 5.7. FM = Proportionate quantity of the Contracted Grade of Coal which could not be delivered by the Seller for a Year due to occurrence of a Force Majeure Event affecting the Seller and / or the Purchaser, calculated as under: FM = ACQ x Number of days lost under applicable Force Majeure Event 365

Level of Delivery and Level of Lifting. 5.6.1 The Level of Delivery with respect to a Year shall be calculated in the form of percentage as per the following formula: Level of Delivery (LD) = (DQ+DDQ+FM) X 100 ACQ Where: LD = Level of Delivery of the Contracted Grade of Coal by the Seller for the Year. DQ = Delivered Quantity, namely, aggregate of actual quantities of the Contracted Grade(s) of Coal delivered by the Seller for the Year or sale order quantity obtained by the Purchaser by paying advance amount, whichever is higher. DDQ = Deemed Delivered Quantity, reckoned in the manner stated in Clause 5.7. FM = Proportionate quantity of the Contracted Grade of Coal which could not be delivered by the Seller for a Year due to occurrence of a Force Majeure Event affecting the Seller and / or the Purchaser, calculated as under: FM = ACQ x Number of days lost under applicable Force Majeure Event 365365 . 5.6.2 Level of Lifting with respect to a Year shall be calculated in the form of percentage as per the following formula: Level of Lifting (LL) = (ACQ - DDQ) X 100 Where: LL = Level of Lifting of the Contracted Grade of Coal by the Purchaser for the Year. DDQ = Deemed Delivered Quantity, reckoned in the manner stated in Clause 5.7.