Payment Security Mechanism Letter of Credit (LC). 10.4.1 Subject to opening and maintenance of Letter of Credit by the Buying Entity (as per terms of Buyer-Buying Entity PSA) in favour of the Buyer, the Buyer shall provide to the SPD, in respect of payment of its Monthly Bills and/or Supplementary Bills, a monthly unconditional, revolving and irrevocable letter of credit (“Letter of Credit”), opened and maintained which may be drawn upon by the SPD in accordance with this Article.
Appears in 3 contracts
Samples: Power Purchase Agreement, Power Purchase Agreement, Power Purchase Agreement
Payment Security Mechanism Letter of Credit (LC). 10.4.1 Subject to opening and maintenance of Letter of Credit by the Buying Entity Entities (as per terms of Buyer-Buying Entity PSA) in favour of the Buyer, the Buyer shall provide to the SPD, in respect of payment of its Monthly Bills and/or Supplementary Bills, a monthly unconditional, revolving and irrevocable letter of credit (“Letter of Credit”), opened and maintained which may be drawn upon by the SPD in accordance with this Article.
Appears in 3 contracts
Samples: Power Purchase Agreement, Power Purchase Agreement, Power Purchase Agreement
Payment Security Mechanism Letter of Credit (LC). 10.4.1 Subject to opening and maintenance of Letter of Credit by the Buying Entity Entities (as per terms of Buyer-Buying Entity PSA) in favour of the Buyer, the Buyer shall provide to the SPDWPD, in respect of payment of its Monthly Bills and/or Supplementary Bills, a monthly unconditional, revolving and irrevocable letter of credit (“Letter of Credit”), opened and maintained which may be drawn upon by the SPD WPD in accordance with this Article.
Appears in 2 contracts
