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 The Project shall be fully commissioned within the Scheduled Commissioning Date as defined in this Agreement. If the BESSD is unable to commission the Project by the Scheduled Commissioning Date for the reasons other than those specified in Article 4.5.1, the BESSD shall pay to GUVNL, 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 of commissioning, as part of the liquidated damages, the total PBG amount forthe Project shall be encashed on per-day basis and proportionate to the balance capacity not commissioned. For the purpose of calculations of the liquidated damages, ‘month’ shall be considered consisting of 30 days. As an alternative to the above encashment of PBG, the BESSD may choose to make a payment of the amount corresponding to the liquidated damages, directly to GUVNL or by way of deduction from the monthly payments, with applicable interest and if such an option is chosen, the same shall be unconditional and irrevocable on the part of BESSD. The BESSD shall intimate to GUVNL, its chosen alternative out of the two options, within 10 business days of intimation of the liquidated damages to the BESSD,as calculated by GUVNL. In case no response is received from the BESSD until thelapse of the above deadline, GUVNL shall encash the PBG for the amount as per the liquidated damages. In case the Developer chooses to make necessary payments in lieu of the liquidated damages, the said payment shall be credited to GUVNL’s account through NEFT/RTGS payment, no later than 5 business days from the above intimation by the BESSD. In case of non-payment by the developer withinthe above deadline, the PBG will be encashed by GUVNL on the next business days. (b) Delay beyond Nine (9) Months from SCD: The BESPA capacity shall stand reduced/amended to the Project Capacity commissioned, the entire PBG will be encashed by XXXXX, and the BESPA for the Project shall stand terminated for the balance un-commissioned capacity. (c) For avoidance of doubt it is clarified that provisions of Article 4.6.1 will be applicable even in cases where no capacity (i.e. 0 MW) is commissioned.

Liquidated Damages not amounting to penalty for delay in Commissioning. 4.6.1 The Project shall be fully commissioned within the Scheduled Commissioning Date as defined in this Agreement. If the BESSD is unable to commission the Project by the Scheduled Commissioning Date for the reasons other than those specified in Article 4.5.1, the BESSD shall pay to GUVNLNVVN, 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 of commissioning, as part of the liquidated damages, the total PBG amount forthe for the Project shall be encashed on per-day basis and proportionate to the balance capacity not commissioned. For the purpose of calculations of the liquidated damages, ‘month’ shall be considered consisting of 30 days. As an alternative to the above encashment of PBG, the BESSD may choose to make a payment of the amount corresponding to the liquidated damages, directly to GUVNL or by way of deduction from the monthly payments, with applicable interest and if such an option is chosen, the same shall be unconditional and irrevocable on the part of BESSDNVVN. The BESSD shall intimate to GUVNLNVVN, its chosen alternative out of the two options, within 10 business days of intimation of the liquidated damages to the BESSD,, as calculated by GUVNLNVVN. In case no response is received from the BESSD until thelapse the lapse of the above deadline, GUVNL NVVN shall encash the PBG for the amount as per the liquidated damages. In case the Developer BESSD chooses to make necessary payments in lieu of the liquidated damages, the said payment shall be credited to GUVNLNVVN’s account through NEFT/RTGS NEFT payment, no later than 5 business days from the above intimation by the BESSD. In case of non-payment by the developer withinthe BESSD within the above deadline, the PBG will be encashed by GUVNL NVVN on the next business daysday. (b) Delay beyond Nine Six (96) Months from SCD: The BESPA capacity shall stand reduced/amended to the Project Capacity commissioned, the entire PBG will be encashed by XXXXXNVVN, and the BESPA for the Project shall stand terminated for the balance un-commissioned capacity. (c) For avoidance of doubt it is clarified that provisions of Article 4.6.1 will be applicable even in cases where no capacity (i.e. 0 MW) is commissioned. 4.6.2 The BESSD further acknowledges and accepts that the amount of the liquidated damages as specified above is a fixed, genuine and reasonable pre- estimate of the damages that may be suffered by NVVN.

Liquidated Damages not amounting to penalty for delay in Commissioning. 4.6.1 The Project shall be fully commissioned within the Scheduled Commissioning Date as defined in this Agreement. If the BESSD is unable to commission the Project by the Scheduled Commissioning Date for the reasons other than those specified in Article 4.5.1, the BESSD shall pay to GUVNLSECI, 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 of commissioning, as part of the liquidated damages, the total PBG PBG/POI amount forthe for the Project shall be encashed on per-day basis and proportionate to the balance capacity not commissioned. For the purpose of calculations of the liquidated damages, ‘month’ shall be considered consisting of 30 days. As an alternative to the above encashment of PBG/POI, the BESSD may choose to make a payment of the amount corresponding to the liquidated damages, directly to GUVNL or by way of deduction from the monthly payments, with applicable interest and if such an option is chosen, the same shall be unconditional and irrevocable on the part of BESSDSECI. The BESSD shall intimate to GUVNLSECI, its chosen alternative out of the two options, within 10 3 business days of intimation of the liquidated damages to the BESSD,Developer, as calculated by GUVNLSECI. In case no response is received from the BESSD until thelapse the lapse of the above deadline, GUVNL SECI shall encash the PBG PBG/POI for the amount as per the liquidated damages. In case the Developer chooses to make necessary payments in lieu of the liquidated damages, the said payment shall be credited to GUVNLSECI’s account through NEFT/RTGS NEFT payment, no later than 5 business days from the above intimation by the BESSD. In case of non-payment by the developer withinthe within the above deadline, the PBG will be encashed by GUVNL SECI on the next business daysday. (b) Delay beyond Nine (9) Months from SCD: The BESPA capacity shall stand reduced/amended to the Project Capacity commissioned, the entire PBG will be encashed by XXXXX, commissioned and the BESPA for the Project shall balance capacity will stand terminated for and shall be reduced from the balance un-commissioned capacityselected Project Capacity and accordingly, Contracted Capacity will also stand modified to the 60% of the reduced Project Capacity. (c) For avoidance of doubt it is clarified that provisions of Article 4.6.1 will be applicable even in cases where no capacity (i.e. 0 MW) is commissioned.

Liquidated Damages not amounting to penalty for delay in Commissioning. 4.6.1 The Project shall be fully commissioned within the Scheduled Commissioning Date as defined in this Agreement. If the BESSD is unable to commission the Project by the Scheduled Commissioning Date for the reasons other than those specified in Article 4.5.1, the BESSD shall pay to GUVNL, 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 of commissioning, as part of the liquidated damages, the total PBG amount forthe Project shall be encashed on per-day basis and proportionate to the balance capacity not commissioned. For the purpose of calculations of the liquidated damages, ‘month’ shall be considered consisting of 30 days. As an alternative to the above encashment of PBG, the BESSD may choose to make a payment of the amount corresponding to the liquidated damages, directly to GUVNL or by way of deduction from the monthly payments, with applicable interest and if such an option is chosen, the same shall be unconditional and irrevocable on the part of BESSD. The BESSD shall intimate to GUVNL, its chosen alternative out of the two options, within 10 business days of intimation of the liquidated damages to the BESSD,as calculated by GUVNL. In case no response is received from the BESSD until thelapse the lapse of the above deadline, GUVNL shall encash the PBG for the amount as per the liquidated damages. In case the Developer chooses to make necessary payments in lieu of the liquidated damages, the said payment shall be credited to GUVNL’s account through NEFT/RTGS payment, no later than 5 business days from the above intimation by the BESSD. In case of non-payment by the developer withinthe within the above deadline, the PBG will be encashed by GUVNL on the next business days. (b) Delay beyond Nine (9) Months from SCD: The BESPA capacity shall stand reduced/amended to the Project Capacity commissioned, the entire PBG will be encashed by XXXXX, and the BESPA for the Project shall stand terminated for the balance un-commissioned capacity. (c) For avoidance of doubt it is clarified that provisions of Article 4.6.1 will be applicable even in cases where no capacity (i.e. 0 MW) is commissioned. 4.6.2 The BESSD further acknowledges and accepts that the amount of the liquidated damages as specified above is a fixed, genuine and reasonable pre-estimate of the damages that may be suffered by XXXXX.

Liquidated Damages not amounting to penalty for delay in Commissioning. 4.6.1 The Project shall be fully commissioned within the Scheduled Commissioning Date as defined in this Agreement. If the BESSD is unable to commission the Project by the Scheduled Commissioning Date for the reasons other than those specified in Article 4.5.1, the BESSD shall pay to GUVNLSECI, 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 of commissioning, as part of the liquidated damages, the total PBG PBG/POI amount forthe for the Project shall be encashed on per-day basis and proportionate to the balance capacity not commissioned. For the purpose of calculations of the liquidated damages, ‘month’ shall be considered consisting of 30 days. As an alternative to the above encashment of PBG/POI, the BESSD may choose to make a payment of the amount corresponding to the liquidated damages, directly to GUVNL or by way of deduction from the monthly payments, with applicable interest and if such an option is chosen, the same shall be unconditional and irrevocable on the part of BESSDSECI. The BESSD shall intimate to GUVNLSECI, its chosen alternative out of the two options, within 10 business days of intimation of the liquidated damages to the BESSD,, as calculated by GUVNLSECI. In case no response is received from the BESSD until thelapse the lapse of the above deadline, GUVNL SECI shall encash the PBG PBG/POI for the amount as per the liquidated damages. In case the Developer BESSD chooses to make necessary payments in lieu of the liquidated damages, the said payment shall be credited to GUVNLSECI’s account through NEFT/RTGS NEFT payment, no later than 5 business days from the above intimation by the BESSD. In case of non-payment by the developer withinthe BESSD within the above deadline, the PBG will be encashed by GUVNL SECI on the next business daysday. (b) Delay beyond Nine (96) Months from SCD: The BESPA capacity shall stand reduced/amended to the Project Capacity commissioned, the entire PBG PBG/POI will be encashed by XXXXXSECI, and the BESPA for the Project shall stand terminated for the balance un-commissioned capacity. Accordingly, Contracted Capacity will also stand reduced to Project Capacity commissioned as of six months from the SCD. (c) For avoidance of doubt it is clarified that provisions of Article 4.6.1 will be applicable even in cases where no capacity (i.e. 0 MW) is commissioned.