Common use of Payment of Monthly Bills Clause in Contracts

Payment of Monthly Bills. 10.3.1 SECI shall pay the amount payable under the Monthly Bill/Supplementary Bill by the Due Date to such account of the SPD, as shall have been previously notified by the SPD as below. 10.3.2 All payments required to be made under this Agreement shall also include any deduction or set off for: i) deductions required by the Law; and ii) amount claimed by SECI, if any, from the SPD, will be adjusted from the monthly energy payment. In case of any excess payment adjustment, the interest applicable will be same as rate of Late Payment surcharge will be applicable on day to day basis. The SPD shall open a bank account (the “SPD’s Designated Account") for all Tariff Payments (including Supplementary Bills) to be made by SECI to the SPD, and notify SECI of the details of such account at least ninety (90) Days before the dispatch of the first Monthly Bill. SECI shall also designate a bank account at New Delhi ("SECI Designated Account") for payments to be made by the SPD to SECI, if any, and notify the SPD of the details of such account ninety (90) Days before the SCSD. SECI and the SPD shall instruct their respective bankers to make all payments under this Agreement to the SPD’s Designated Account or SECI’s Designated Account, as the case may be, and shall notify either Party of such instructions on the same day.

Payment of Monthly Bills. 10.3.1 SECI shall pay the amount payable under the Monthly BillXxxx/Supplementary Bill Xxxx by the Due Date to such account of the SPDWPD, as shall have been previously notified by the SPD WPD as below. 10.3.2 All payments required to be made under this Agreement shall also include any deduction or set off for: i) deductions required by the Law; and ii) amount claimed by SECI, if any, from the SPDWPD, will be adjusted from the monthly energy payment. In case of any excess payment adjustment, the interest applicable will be same as rate of Late Payment 1.25% surcharge will be applicable on day to day basis. The SPD WPD shall open a bank account (the “SPDWPD’s Designated Account") for all Tariff Payments (including Supplementary Bills) to be made by SECI to the SPDWPD, and notify SECI of the details of such account at least ninety (90) Days before the dispatch of the first Monthly BillXxxx. SECI shall also designate a bank account at New Delhi ("SECI Delhi("SECI Designated Account") for payments to be made by the SPD WPD to SECI, if any, and notify the SPD WPD of the details of such account ninety (90) Days before the SCSDScheduled Commissioning Date. SECI and the SPD WPD shall instruct their respective bankers to make all payments under this Agreement to the SPDWPD’s Designated Account or SECI’s Designated Account, as the case may be, and shall notify either Party of such instructions on the same day.

Payment of Monthly Bills. 10.3.1 SECI shall pay the amount payable under the Monthly Bill/Supplementary Bill by the Due Date to such account of the SPDRPD, as shall have been previously notified by the SPD RPD as below. 10.3.2 All payments required to be made under this Agreement shall also include any deduction or set off for: i) deductions required by the Law; ii) shortfalls in meeting the stipulated DFR requirement; and iiiii) amount claimed by SECI, if any, from the SPDRPD, will be adjusted from the monthly energy payment. In case of any excess payment adjustment, the interest applicable will be same as rate of Late Payment surcharge will be applicable on day to day basis. The SPD RPD shall open a bank account (the “SPDRPD’s Designated Account") for all Tariff Payments (including Supplementary Bills) to be made by SECI to the SPD, RPD and notify SECI of the details of such account at least ninety (90) Days before the dispatch of the first Monthly Bill. SECI shall also designate a bank account at New Delhi ("SECI Designated Account") for payments to be made by the SPD RPD to SECI, if any, and notify the SPD RPD of the details of such account ninety (90) Days before the SCSDScheduled Commencement of Supply Date. SECI and the SPD RPD shall instruct their respective bankers to make all payments under this Agreement to the SPDRPD’s Designated Account or SECI’s Designated Account, as the case may be, and shall notify either Party of such instructions on the same day.

Payment of Monthly Bills. 10.3.1 SECI shall pay the amount payable under the Monthly Bill/Supplementary Bill by the Due Date to such account of the SPDWPD, as shall have been previously notified by the SPD WPD as below. 10.3.2 All payments required to be made under this Agreement shall also include any deduction or set off for: i) deductions required by the Law; and ii) amount claimed by SECI, if any, from the SPDWPD, will be adjusted from the monthly energy payment. In case of any excess payment adjustment, the interest applicable will be same as rate of Late Payment surcharge will be applicable on day to day basis. The SPD WPD shall open a bank account (the “SPDWPD’s Designated Account") for all Tariff Payments (including Supplementary Bills) to be made by SECI to the SPDWPD, and notify SECI of the details of such account at least ninety (90) Days before the dispatch of the first Monthly Bill. SECI shall also designate a bank account at New Delhi ("SECI Designated Account") for payments to be made by the SPD WPD to SECI, if any, and notify the SPD WPD of the details of such account ninety (90) Days before the SCSD. SECI and the SPD WPD shall instruct their respective bankers to make all payments under this Agreement to the SPDWPD’s Designated Account or SECI’s Designated Account, as the case may be, and shall notify either Party of such instructions on the same day.

Payment of Monthly Bills. 10.3.1 SECI Buyer shall pay the amount payable under the Monthly BillXxxx/Supplementary Bill Xxxx by the Due Date to such account of the SPD, as shall have been previously notified by the SPD as in accordance with Article 10.3.2 iii) below. 10.3.2 All payments required to be made under this Agreement shall also include any deduction or set off for: i) deductions required by the Law; and ii) amount claimed by SECIBuyer, if any, from the SPD, will be adjusted from the monthly energy payment. In case of any excess payment adjustment, the interest applicable will be same as rate of Late Payment 1.5% surcharge will be applicable on day to day basis. The SPD shall open a bank account (the “SPD’s Designated Account") for all Tariff Payments (including Supplementary Bills) to be made by SECI Buyer to the SPD, and notify SECI Buyer of the details of such account at least ninety (90) Days before the dispatch of the first Monthly BillXxxx. SECI Buyer shall also designate a bank account at New Delhi ("SECI Buyer’s Designated Account") for payments to be made by the SPD to SECIBuyer, if any, and notify the SPD of the details of such account ninety (90) Days before the SCSDScheduled Commissioning Date. SECI Buyer and the SPD shall instruct their respective bankers to make all payments under this Agreement to the SPD’s Designated Account or SECIBuyer’s Designated Account, as the case may be, and shall notify either Party of such instructions on the same day.

Payment of Monthly Bills. 10.3.1 SECI shall pay the amount payable under the Monthly BillXxxx/Supplementary Bill Xxxx by the Due Date to such account of the SPD, as shall have been previously notified by the SPD as below. 10.3.2 All payments required to be made under this Agreement shall also include any deduction or set off for: i) deductions required by the Law; and ii) amount claimed by SECI, if any, from the SPD, will be adjusted from the monthly energy payment. In case of any excess payment adjustment, the interest applicable will be same as rate of Late Payment 1.25% surcharge will be applicable on day to day basis. The SPD shall open a bank account (the “SPD’s Designated Account") for all Tariff Payments (including Supplementary Bills) to be made by SECI to the SPD, and notify SECI of the details of such account at least ninety (90) Days before the dispatch of the first Monthly BillXxxx. SECI shall also designate a bank account at New Delhi ("SECI Designated Account") for payments to be made by the SPD to SECI, if any, and notify the SPD of the details of such account ninety (90) Days before the SCSDScheduled Commissioning Date. SECI and the SPD shall instruct their respective bankers to make all payments under this Agreement to the SPD’s Designated Account or SECI’s Designated Account, as the case may be, and shall notify either Party of such instructions on the same day.

Payment of Monthly Bills. 10.3.1 Subject to the provisions of Article 10.3.4, SECI shall pay the amount payable under the Monthly Bill/Supplementary Bill by the Due Date to such account of the SPDBESSD, as shall have been previously notified by the SPD as below. 10.3.2 All payments required to be made under this Agreement shall also include any deduction or set off for: i) deductions required by the Law; and ii) amount claimed by SECI, if any, from the SPD, will be adjusted from the monthly energy payment. In case of any excess payment adjustment, the interest applicable will be same as rate of Late Payment surcharge will be applicable on day to day basisBESSD. The SPD BESSD shall open a bank account (the “SPDBESSD’s Designated Account") for all Tariff Payments (including Supplementary Bills) to be made by SECI to the SPDBESSD, and notify SECI of the details of such account at least ninety (90) Days before the dispatch of the first Monthly Bill. SECI shall also designate a bank account at New Delhi ("SECI Designated Account") for payments to be made by the SPD BESSD to SECI, if any, and notify the SPD BESSD of the details of such account ninety (90) Days before the SCSDScheduled Commissioning Date. SECI and the SPD BESSD shall instruct their respective bankers to make all payments under this Agreement to the SPDBESSD’s Designated Account or SECI’s Designated Account, as the case may be, and shall notify either Party of such instructions on the same day 10.3.2 All payments required to be made under this Agreement shall also include any deduction or set off for: i) deductions required by the Law; and ii) amount claimed by SECI, if any, from the BESSD, will be adjusted from the monthly energy payment. In case of any excess payment adjustment, 1.25% surcharge will be applicable on day to day basis.

Payment of Monthly Bills. 10.3.1 SECI Buyer shall pay the amount payable under the Monthly Bill/Xxxx/ Supplementary Bill Xxxx by the Due Date to such account of the SPD, as shall have been previously notified by the SPD as in accordance with Article 10.3.2 iii) below. 10.3.2 All payments required to be made under this Agreement shall also include any deduction or set off for: i) deductions required by the Law; and ii) amount claimed by SECIBuyer, if any, from the SPD, will be adjusted from the monthly energy payment. In case of any excess payment adjustment, the interest applicable will be same as rate of Late Payment 1.25% surcharge will be applicable on day to day basis. The SPD shall open a bank account (the “SPD’s Designated Account") for all Tariff Payments (including Supplementary Bills) to be made by SECI Buyer to the SPD, and notify SECI Buyer of the details of such account at least ninety (90) Days before the dispatch of the first Monthly BillXxxx. SECI Buyer shall also designate a bank account at New Delhi ("SECI Buyer’s Designated Account") for payments to be made by the SPD to SECIBuyer, if any, and notify the SPD of the details of such account ninety (90) Days before the SCSDScheduled Commissioning Date. SECI Buyer and the SPD shall instruct their respective bankers to make all payments under this Agreement to the SPD’s Designated Account or SECIBuyer’s Designated Account, as the case may be, and shall notify either Party of such instructions on the same day.

Payment of Monthly Bills. 10.3.1 SECI MSPDCL shall pay the amount payable under the Monthly BillXxxx/Supplementary Bill Xxxx by the Due Date to such account of the SPD, as shall have been previously notified by the SPD as below. 10.3.2 All payments required to be made under this Agreement shall also include any deduction or set off for: i) deductions required by the Law; and ii) amount claimed by SECIMSPDCL, if any, from the SPD, will be adjusted from the monthly energy payment. In case of any excess payment adjustment, the interest applicable will be same as rate of Late Payment 1.25% surcharge will be applicable on day to day basis. The SPD shall open a bank account (the “SPD’s Designated Account") for all Tariff Payments Payment (including Supplementary Bills) to be made by SECI MSPDCL to the SPD, and notify SECI MSPDCL of the details of such account at least ninety (90) Days before the dispatch of the first Monthly BillXxxx. SECI MSPDCL shall also designate a bank account at New Delhi Manipur ("SECI MSPDCL Designated Account") for payments to be made by the SPD to SECIMSPDCL, if any, and notify the SPD of the details of such account ninety (90) Days before the SCSDScheduled Commissioning Date. SECI MSPDCL and the SPD shall instruct their respective bankers to make all payments under this Agreement to the SPD’s Designated Account or SECIMSPDCL’s Designated Account, as the case may be, and shall notify either Party of such instructions on the same day.

Payment of Monthly Bills. 10.3.1 SECI shall pay the amount payable under the Monthly BillXxxx/Supplementary Bill Xxxx by the Due Date to such account of the SPD, as shall have been previously notified by the SPD as in accordance with Article 10.3.2 iii) below. 10.3.2 All payments required to be made under this Agreement shall also include any deduction or set off for: i) deductions required by the Law; and ii) amount Amount claimed by SECI, if any, from the SPD, will be adjusted from the monthly energy payment. In case of any excess payment adjustment, the interest applicable will be same as rate of Late Payment 1.25% surcharge will be applicable on day to day basis. The SPD shall open a bank account (the “SPD’s Designated Account") for all Tariff Payments (including Supplementary Bills) to be made by SECI to the SPD, and notify SECI of the details of such account at least ninety (90) Days before the dispatch of the first Monthly BillXxxx. SECI shall also designate a bank account at New Delhi ("SECI SECI’s Designated Account") for payments to be made by the SPD to SECI, if any, and notify the SPD of the details of such account ninety (90) Days before the SCSDScheduled Commissioning Date. SECI and the SPD shall instruct their respective bankers to make all payments under this Agreement to the SPD’s Designated Account or SECI’s Designated Account, as the case may be, and shall notify either Party of such instructions on the same day.

Payment of Monthly Bills. 10.3.1 SECI shall pay the amount payable under the Monthly BillXxxx/Supplementary Bill Xxxx by the Due Date to such account of the SPD, as shall have been previously notified by the SPD as in accordance with Article 10.3.2 iii) below. 10.3.2 All payments required to be made under this Agreement shall also include any deduction or set off for: i) deductions required by the Law; and ii) amount claimed by SECI, if any, from the SPD, will be adjusted from the monthly energy payment. In case of any excess payment adjustment, the interest applicable will be same as rate of Late Payment 1.25% surcharge will be applicable on day to day basis. The SPD shall open a bank account (the “SPD’s Designated Account") for all Tariff Payments (including Supplementary Bills) to be made by SECI to the SPD, and notify SECI of the details of such account at least ninety (90) Days before the dispatch of the first Monthly BillXxxx. SECI shall also designate a bank account at New Delhi ("SECI Designated Account") for payments to be made by the SPD to SECI, if any, and notify the SPD of the details of such account ninety (90) Days before the SCSDScheduled Commissioning Date. SECI and the SPD shall instruct their respective bankers to make all payments under this Agreement to the SPD’s Designated Account or SECI’s Designated Account, as the case may be, and shall notify either Party of such instructions on the same day.

Payment of Monthly Bills. 10.3.1 Subject to the provision of Article 10.3.4, SECI shall pay the amount payable under the Monthly BillXxxx/Supplementary Bill Xxxx by the Due Date to such account of the SPDHPD, as shall have been previously notified by the SPD HPD as below. 10.3.2 All payments required to be made under this Agreement shall also include any deduction or set off for: i) deductions required by the Law; and ii) amount claimed by SECI, if any, from the SPDHPD, will be adjusted from the monthly energy payment. In case of any excess payment adjustment, the interest applicable will be same as rate of Late Payment 1.25% surcharge will be applicable on day to day basis. The SPD HPD shall open a bank account (the “SPDHPD’s Designated Account") for all Tariff Payments (including Supplementary Bills) to be made by SECI to the SPDHPD, and notify SECI of the details of such account at least ninety (90) Days before the dispatch of the first Monthly BillXxxx. SECI shall also designate a bank account at New Delhi ("SECI Designated Account") for payments to be made by the SPD HPD to SECI, if any, and notify the SPD HPD of the details of such account ninety (90) Days before the SCSDScheduled Commissioning Date. SECI and the SPD HPD shall instruct their respective bankers to make all payments under this Agreement to the SPDHPD’s Designated Account or SECI’s Designated Account, as the case may be, and shall notify either Party of such instructions on the same day.

Payment of Monthly Bills. 10.3.1 Subject to the provision of Article 10.3.4, SECI shall pay the amount payable under the Monthly BillXxxx/Supplementary Bill Xxxx by the Due Date to such account of the SPD, as shall have been previously notified by the SPD as below. 10.3.2 All payments required to be made under this Agreement shall also include any deduction or set off for: i) deductions required by the Law; and ii) amount claimed by SECI, if any, from the SPD, will be adjusted from the monthly energy payment. In case of any excess payment adjustment, the interest applicable will be same as rate of Late Payment 1.25% surcharge will be applicable on day to day basis. The SPD shall open a bank account (the “SPD’s Designated Account") for all Tariff Payments (including Supplementary Bills) to be made by SECI to the SPD, and notify SECI of the details of such account at least ninety (90) Days before the dispatch of the first Monthly BillXxxx. SECI shall also designate a bank account at New Delhi ("SECI Designated Account") for payments to be made by the SPD to SECI, if any, and notify the SPD of the details of such account ninety (90) Days before the SCSDScheduled Commissioning Date. SECI and the SPD shall instruct their respective bankers to make all payments under this Agreement to the SPD’s Designated Account or SECI’s Designated Account, as the case may be, and shall notify either Party of such instructions on the same day.

Payment of Monthly Bills. 10.3.1 SECI MSPDCL shall pay the amount payable under the Monthly Bill/Supplementary Bill by the Due Date to such account of the SPD, as shall have been previously notified by the SPD as below. 10.3.2 All payments required to be made under this Agreement shall also include any deduction or set off for: i) deductions required by the Law; and ii) amount claimed by SECIMSPDCL, if any, from the SPD, will be adjusted from the monthly energy payment. In case of any excess payment adjustment, the interest applicable will be same as rate of Late Payment 1.25% surcharge will be applicable on day to day basis. The SPD shall open a bank account (the “SPD’s Designated Account") for all Tariff Payments “ Payment (including Supplementary Bills) to be made by SECI MSPDCL to the SPD, and notify SECI MSPDCL of the details of such account at least ninety (90) Days before the dispatch of the first Monthly Bill. SECI MSPDCL shall also designate a bank account at New Delhi Manipur ("SECI MSPDCL Designated Account") for payments to be made by the SPD to SECIMSPDCL, if any, and notify the SPD of the details of such account ninety (90) Days before the SCSDScheduled Commissioning Date. SECI MSPDCL and the SPD shall instruct their respective bankers to make all payments under this Agreement to the SPD’s Designated Account or SECI’s Designated Account, SPDM’SsPDCDL’essiDgensaitgendatAecdcoAucnc as the case may be, and shall notify either Party of such instructions on the same day.

Payment of Monthly Bills. 10.3.1 Subject to the provisions of Article 10.3.4, SECI shall pay the amount payable under the Monthly BillXxxx/Supplementary Bill Xxxx by the Due Date to such account of the SPD, as shall have been previously notified by the SPD as below. 10.3.2 All payments required to be made under this Agreement shall also include any deduction or set off for: i) deductions required by the Law; and ii) amount claimed by SECI, if any, from the SPD, will be adjusted from the monthly energy payment. In case of any excess payment adjustment, the interest applicable will be same as rate of Late Payment 1.25% surcharge will be applicable on day to day basis. The SPD shall open a bank account (the “SPD’s Designated Account") for all Tariff Payments (including Supplementary Bills) to be made by SECI to the SPD, and notify SECI of the details of such account at least ninety (90) Days before the dispatch of the first Monthly BillXxxx. SECI shall also designate a bank account at New Delhi ("SECI Designated Account") for payments to be made by the SPD to SECI, if any, and notify the SPD of the details of such account ninety (90) Days before the SCSDScheduled Commissioning Date. SECI and the SPD shall instruct their respective bankers to make all payments under this Agreement to the SPD’s Designated Account or SECI’s Designated Account, as the case may be, and shall notify either Party of such instructions on the same day.

Payment of Monthly Bills. 10.3.1 Subject to the provisions of Article 10.3.4, SECI shall pay the amount payable under the Monthly Bill/Supplementary Bill by the Due Date to such account of the SPD, as shall have been previously notified by the SPD as below. 10.3.2 All payments required to be made under this Agreement shall also include any deduction or set off for: i) deductions required by the Law; and ii) amount claimed by SECI, if any, from the SPD, will be adjusted from the monthly energy payment. In case of any excess payment adjustment, the interest applicable will be same as rate of Late Payment 1.25% surcharge will be applicable on day to day basis. The SPD shall open a bank account (the “SPD’s Designated Account") for all Tariff Payments (including Supplementary Bills) to be made by SECI to the SPD, and notify SECI of the details of such account at least ninety (90) Days before the dispatch of the first Monthly Bill. SECI shall also designate a bank account at New Delhi ("SECI Designated Account") for payments to be made by the SPD to SECI, if any, and notify the SPD of the details of such account ninety (90) Days before the SCSDScheduled Commissioning Date. SECI and the SPD shall instruct their respective bankers to make all payments under this Agreement to the SPD’s Designated Account or SECI’s Designated Account, as the case may be, and shall notify either Party of such instructions on the same day.

Payment of Monthly Bills. 10.3.1 SECI shall pay the amount payable under the Monthly Bill/Supplementary Bill by the Due Date to such account of the SPDWPD, as shall have been previously notified by the SPD WPD as below. 10.3.2 All payments required to be made under this Agreement shall also include any deduction or set off for: i) deductions required by the Law; and ii) amount claimed by SECI, if any, from the SPDWPD, will be adjusted from the monthly energy payment. In case of any excess payment adjustment, the interest applicable will be same as rate of Late Payment 1.25% surcharge will be applicable on day to day basis. The SPD WPD shall open a bank account (the “SPDWPD’s Designated Account") for all Tariff Payments (including Supplementary Bills) to be made by SECI to the SPDWPD, and notify SECI of the details of such account at least ninety (90) Days before the dispatch of the first Monthly Bill. SECI shall also designate a bank account at New Delhi ("SECI Delhi("SECI Designated Account") for payments to be made by the SPD WPD to SECI, if any, and notify the SPD WPD of the details of such account ninety (90) Days before the SCSDScheduled Commissioning Date. SECI and the SPD WPD shall instruct their respective bankers to make all payments under this Agreement to the SPDWPD’s Designated Account or SECI’s Designated Account, as the case may be, and shall notify either Party of such instructions on the same day.

Payment of Monthly Bills. 10.3.1 SECI Subject to the provisions of Article 10.3.4, NTPC shall pay the amount payable under the Monthly Bill/Supplementary Bill by the Due Date to such account of the SPD, as shall have been previously notified by the SPD as below. 10.3.2 All payments required to be made under this Agreement shall also include any deduction or set off for: i) deductions required by the Law; and ii) amount claimed by SECINTPC, if any, from the SPD, will be adjusted from the monthly energy payment. In case of any excess payment adjustment, the interest applicable will be same as rate of Late Payment 1.25% surcharge will be applicable on day to day-to-day basis. The SPD shall open a bank account (the “SPD’s Designated Account") for all Tariff Payments (including Supplementary Bills) to be made by SECI NTPC to the SPD, and notify SECI NTPC of the details of such account at least ninety (90) Days before the dispatch of the first Monthly Bill. SECI NTPC shall also designate a bank account at New Delhi ("SECI NTPC Designated Account") for payments to be made by the SPD to SECINTPC, if any, and notify the SPD of the details of such account ninety (90) Days before the SCSDScheduled Commissioning Date. SECI NTPC and the SPD shall instruct their respective bankers to make all payments under this Agreement to the SPD’s Designated Account or SECINTPC’s Designated Account, as the case may be, and shall notify either Party of such instructions on the same day.

Payment of Monthly Bills. 10.3.1 SECI The Buyer shall pay the amount payable under the Monthly Bill/Supplementary Bill by the Due Date to such account of the SPD, as shall have been previously notified by the SPD as below. 10.3.2 All payments required to be made under this Agreement shall also include any deduction or set off for: (i) deductions required by the Law; and (ii) amount claimed by SECIthe Buyer, if any, from the SPD, will be adjusted from the monthly energy payment. In case of any excess payment adjustment, the interest applicable will be same as rate of Late Payment surcharge will be applicable on day to day basis. The SPD shall open a bank account (the “SPD’s Designated Account") for all Tariff Payments (including Supplementary Bills) to be made by SECI the Buyer to the SPD, and notify SECI the Buyer of the details of such account at least ninety 90 (90ninety) Days before the dispatch of the first Monthly Bill. SECI The Buyer shall also designate a bank account at New Delhi Kolkata ("SECI Buyer’s Designated Account") for payments to be made by the SPD to SECIthe Buyer, if any, and notify the SPD of the details of such account ninety 90 (90ninety) Days before the SCSD. SECI The Buyer and the SPD shall instruct their respective bankers to make all payments under this Agreement to the SPD’s Designated Account or SECIthe Buyer’s Designated Account, as the case may be, and shall notify either Party of such instructions on the same day.

Payment of Monthly Bills. 10.3.1 SECI Buyer shall pay the amount payable under the Monthly BillXxxx/Supplementary Bill Xxxx by the Due Date to such account of the SPD, as shall have been previously notified by the SPD as in accordance with Article 10.3.2 iii) below. 10.3.2 All payments required to be made under this Agreement shall also include any deduction or set off for: i) deductions required by the Law; and ii) amount claimed by SECIBuyer, if any, from the SPD, will be adjusted from the monthly energy payment. In case of any excess payment adjustment, the interest applicable will be same as rate of Late Payment 1.25% surcharge will be applicable on day to day basis. The SPD shall open a bank account (the “SPD’s Designated Account") for all Tariff Payments (including Supplementary Bills) to be made by SECI Buyer to the SPD, and notify SECI Buyer of the details of such account at least ninety (90) Days before the dispatch of the first Monthly BillXxxx. SECI Buyer shall also designate a bank account at New Delhi ("SECI Buyer’s Designated Account") for payments to be made by the SPD to SECIBuyer, if any, and notify the SPD of the details of such account ninety (90) Days before the SCSDScheduled Commissioning Date. SECI Buyer and the SPD shall instruct their respective bankers to make all payments under this Agreement to the SPD’s Designated Account or SECIBuyer’s Designated Account, as the case may be, and shall notify either Party of such instructions on the same day.

Payment of Monthly Bills. 10.3.1 SECI Buyer shall pay the amount payable under the Monthly BillXxxx/Supplementary Bill Xxxx by the Due Date to such account of the SPD, as shall have been previously notified by the SPD as in accordance with Article 10.3.2 iii) below. 10.3.2 All payments required to be made under this Agreement shall also include any deduction or set off for: i) deductions required by the Law; and ii) amount claimed by SECIBuyer, if any, from the SPD, will be adjusted from the monthly energy payment. In case of any excess payment adjustment, the interest applicable will be same as rate of Late Payment 1.25% surcharge will be applicable on day to day basis. The SPD shall open a bank account (the “SPD’s Designated Account") for all Tariff Payments (including Supplementary Bills) to be made by SECI Buyer to the SPD, and notify SECI Buyer of the details of such account at least ninety (90) Days before the dispatch of the first Monthly BillXxxx. SECI Buyer shall also designate a bank account at New Delhi Mumbai ("SECI Buyer’s Designated Account") for payments to be made by the SPD to SECIBuyer, if any, and notify the SPD of the details of such account ninety (90) Days before the SCSDScheduled Commissioning Date. SECI Buyer and the SPD shall instruct their respective bankers to make all payments under this Agreement to the SPD’s Designated Account or SECIBuyer’s Designated Account, as the case may be, and shall notify either Party of such instructions on the same day.

Payment of Monthly Bills. 10.3.1 Subject to the provision of Article 10.3.4, SECI shall pay the amount payable under the Monthly Bill/Supplementary Bill by the Due Date to such account of the SPDHPD, as shall have been previously notified by the SPD HPD as below. 10.3.2 All payments required to be made under this Agreement shall also include any deduction or set off for: i) deductions required by the Law; and ii) amount claimed by SECI, if any, from the SPDHPD, will be adjusted from the monthly energy payment. In case of any excess payment adjustment, the interest applicable will be same as rate of Late Payment 1.25% surcharge will be applicable on day to day basis. The SPD HPD shall open a bank account (the “SPDHPD’s Designated Account") for all Tariff Payments (including Supplementary Bills) to be made by SECI to the SPDHPD, and notify SECI of the details of such account at least ninety (90) Days before the dispatch of the first Monthly Bill. SECI shall also designate a bank account at New Delhi ("SECI Designated Account") for payments to be made by the SPD HPD to SECI, if any, and notify the SPD HPD of the details of such account ninety (90) Days before the SCSDScheduled Commissioning Date. SECI and the SPD HPD shall instruct their respective bankers to make all payments under this Agreement to the SPDHPD’s Designated Account or SECI’s Designated Account, as the case may be, and shall notify either Party of such instructions on the same day.

Payment of Monthly Bills. 10.3.1 SECI shall pay the amount payable under the Monthly Bill/Supplementary Bill by the Due Date to such account of the SPDRPD, as shall have been previously notified by the SPD RPD as below. 10.3.2 All payments required to be made under this Agreement shall also include any deduction or set off for: i) deductions required by the Law; and ii) amount claimed by SECI, if any, from the SPDRPD, will be adjusted from the monthly energy payment. In case of any excess payment adjustment, the interest applicable will be same as rate of Late Payment 1.25% surcharge will be applicable on day to day basis. The SPD RPD shall open a bank account (the “SPDRPD’s Designated Account") for all Tariff Payments (including Supplementary Bills) to be made by SECI to the SPD, RPD and notify SECI of the details of such account at least ninety (90) Days before the dispatch of the first Monthly Bill. SECI shall also designate a bank account at New Delhi ("SECI Designated Account") for payments to be made by the SPD RPD to SECI, if any, and notify the SPD RPD of the details of such account ninety (90) Days before the SCSDScheduled Commercial Operation Date. SECI and the SPD RPD shall instruct their respective bankers to make all payments under this Agreement to the SPDRPD’s Designated Account or SECI’s Designated Account, as the case may be, and shall notify either Party of such instructions on the same day.