Common use of Liquidated Damages not amounting to penalty for delay in Commissioning Clause in Contracts

Liquidated Damages not amounting to penalty for delay in Commissioning. 4.6.1 If the SPD is unable to commission the Project by the Scheduled Commissioning Date other than for the reasons specified in Article 4.5.1 and 4.5.2, the SPD shall pay to SECI, damages for the delay in such commissioning and making the Contracted Capacity available for dispatch by the Scheduled Commissioning Date as per the following: (a) Delay beyond the Scheduled Commissioning Date upto (& including) the date as on 24/26 months from the Effective Date (as applicable): The total PBG amount shall be encashed on per day basis and proportionate to the balance capacity not commissioned. 4.6.2 The maximum time period allowed for commissioning of the full Project Capacity with encashment of Performance Bank Guarantee shall be limited to 24/26 months from the Effective Date of this Agreement (as applicable). In case, the Commissioning of the Project is delayed beyond 24/26 months from the Effective Date, it shall be considered as an SPD Event of Default and provisions of Article 13 shall apply and the Contracted Capacity shall stand reduced / amended to the Project Capacity Commissioned within 24/26 months of the Effective Date and the PPA for the balance Capacity will stand terminated and shall be reduced from the project capacity.

Liquidated Damages not amounting to penalty for delay in Commissioning. 4.6.1 If the SPD is unable to commission the Project by the Scheduled Commissioning Date other than for the reasons specified in Article 4.5.1 and 4.5.2, the SPD shall pay to SECI, damages for the delay in such commissioning and making the Contracted Capacity available for dispatch by the Scheduled Commissioning Date as per the following: (a) : Delay beyond the Scheduled Commissioning Date upto (& including) the date as on 24/26 24 months from the Effective Date (as applicable): Date: The total PBG amount shall be encashed on per day basis and proportionate to the balance capacity not commissioned. 4.6.2 The maximum time period allowed for commissioning of the full Project Capacity with encashment of Performance Bank Guarantee shall be limited to 24/26 months 24 Months from the Effective Date of this Agreement (as applicable)Agreement. In case, the Commissioning of the Project is delayed beyond 24/26 months 24 Months from the Effective Date, it shall be considered as an SPD Event of Default and provisions of Article 13 shall apply and the Contracted Capacity shall stand reduced / amended to the Project Capacity Commissioned within 24/26 months 24 Months of the Effective Date and the PPA for the balance Capacity will stand terminated and shall be reduced from the project capacity. 4.6.3 The SPD further acknowledge that the amount of the liquidated damages fixed is genuine and reasonable pre-estimate of the damages that may be suffered by SECI/ Buying entity(s) as specified under this Agreement or in the PSA.

Liquidated Damages not amounting to penalty for delay in Commissioning. 4.6.1 If the SPD is unable to commission the Project by the Scheduled Commissioning Date other than for the reasons specified in Article 4.5.1 and 4.5.2, the SPD shall pay to SECI, damages for the delay in such commissioning and making the Contracted Capacity available for dispatch by the Scheduled Commissioning Date as per the following: (a) Delay beyond the Scheduled Commissioning Date upto (& including) the date as on 24/26 18 months from the Effective Date (as applicable): Date: The total PBG amount shall be encashed on per day basis and proportionate to the balance capacity not commissioned. 4.6.2 The maximum time period allowed for commissioning of the full Project Capacity with encashment of Performance Bank Guarantee shall be limited to 24/26 18 months from the Effective Date of this Agreement (as applicable). In case, the Commissioning of the Project is delayed beyond 24/26 18 months from the Effective Date, it shall be considered as an SPD Event of Default and provisions of Article 13 shall apply and the Contracted Capacity shall stand reduced / amended to the Project Capacity Commissioned within 24/26 18 months of the Effective Date and the PPA for the balance Capacity will stand terminated and shall be reduced from the project capacity.

Liquidated Damages not amounting to penalty for delay in Commissioning. 4.6.1 If the SPD is unable to commission the Project by the Scheduled Commissioning Date other than for the reasons specified in Article 4.5.1 and 4.5.2, the SPD shall pay to SECI, damages for the delay in such commissioning and making the Contracted Capacity available for dispatch by the Scheduled Commissioning Date as per the following: (a) Delay beyond the Scheduled Commissioning Date upto (& including) the date as on 24/26 24 months from the Effective Date (as applicable): The total PBG amount shall be encashed on per day basis and proportionate to the balance capacity not commissioned. 4.6.2 The maximum time period allowed for commissioning of the full Project Capacity with encashment of Performance Bank Guarantee shall be limited to 24/26 24 months from the Effective Date of this Agreement (as applicable)Agreement. In case, the Commissioning of the Project is delayed beyond 24/26 24 months from the Effective Date, it shall be considered as an SPD Event of Default and provisions of Article 13 shall apply and the Contracted Capacity shall stand reduced / amended to the Project Capacity Commissioned within 24/26 24 months of the Effective Date and the PPA for the balance Capacity will stand terminated and shall be reduced from the project capacity. 4.6.3 The SPD further acknowledge that the amount of the liquidated damages fixed is genuine and reasonable pre-estimate of the damages that may be suffered by SECI/ Buying entity(s) as specified under this Agreement or in the PSA.

Liquidated Damages not amounting to penalty for delay in Commissioning. 4.6.1 If the SPD is unable to commission the Project by the Scheduled Commissioning Date other than for the reasons specified in Article 4.5.1 and 4.5.2, the SPD shall pay to SECI, damages for the delay in such commissioning and making the Contracted Capacity available for dispatch by the Scheduled Commissioning Date as per the following: (a) : Delay beyond the Scheduled Commissioning Date upto (& including) the date as on 24/26 months from the Effective Date (as applicable): The applicable)The total PBG amount shall be encashed on per day basis and proportionate to the balance capacity not commissioned. 4.6.2 The maximum time period allowed for commissioning of the full Project Capacity with encashment of Performance Bank Guarantee shall be limited to 24/26 months from the Effective Date of this Agreement (as applicable). In case, the Commissioning of the Project is delayed beyond 24/26 months from the Effective Date, it shall be considered as an SPD Event of Default and provisions of Article 13 shall apply and the Contracted Capacity shall stand reduced / amended to the Project Capacity Commissioned within 24/26 months of the Effective Date and the PPA for the balance Capacity will stand terminated and shall be reduced from the project capacity. 4.6.3 The SPD further acknowledge that the amount of the liquidated damages fixed is genuine and reasonable pre-estimate of the damages that may be suffered by SECI/ Buying entity(s) as specified under this Agreement or in the PSA.

Liquidated Damages not amounting to penalty for delay in Commissioning. 4.6.1 If the SPD is unable to commission the Project by the Scheduled Commissioning Date other than for the reasons specified in Article 4.5.1 and 4.5.2, the SPD shall pay to SECI, damages for the delay in such commissioning and making the Contracted Capacity available for dispatch by the Scheduled Commissioning Date as per the following: (a) Delay beyond the Scheduled Commissioning Date upto (& including) the date as on 24/26 24 months from the Effective Date (as applicable): The total PBG amount shall be encashed on per day basis and proportionate to the balance capacity not commissioned. 4.6.2 The maximum time period allowed for commissioning of the full Project Capacity with encashment of Performance Bank Guarantee shall be limited to 24/26 24 months from the Effective Date of this Agreement (as applicable). In case, the Commissioning of the Project is delayed beyond 24/26 24 months from the Effective Date, it shall be considered as an SPD Event of Default and provisions of Article 13 shall apply and the Contracted Capacity shall stand reduced / amended to the Project Capacity Commissioned within 24/26 24 months of the Effective Date and the PPA for the balance Capacity will stand terminated and shall be reduced from the project capacity. 4.6.3 The SPD further acknowledge that the amount of the liquidated damages fixed is genuine and reasonable pre-estimate of the damages that may be suffered by SECI/ Buying entity(s) as specified under this Agreement or in the PSA.