Common use of Payment Security Clause in Contracts

Payment Security. 11.1 The Buyer shall provide to each of the Sellers (as per the percentage interest share as provided by Xxxxxxx) as security for its payment obligations hereunder an irrevocable, unconditional, on demand bank guarantee from a bank included in the list provided in Annexure - 8, in favour of the Sellers, for an amount specified in Clause 11.2 below, in a form provided at Annexure 6, to be in place prior to the Start Date. Bank Guarantee in favour of Vedanta and ONGC shall be in INR and for CEHL shall be in USD. In case if Buyer is unable to provide BG to CEHL in USD, they may provide the BG in INR, payable in USD by BG issuing bank directly to overseas account on invocation.

Payment Security. 11.1 The Buyer shall provide to each of the Sellers (as per the percentage interest share as provided by XxxxxxxVedanta) as security for its payment obligations hereunder an irrevocable, unconditional, on demand payment security bank guarantee from a reputed bank included in of good standing, acceptable to the list provided in Annexure - 8Sellers, in favour of the Sellers, for an amount specified in Clause 11.2 below, in a form provided at Annexure 67, to be in place prior to from the Start Date. Bank Guarantee in favour of Vedanta and ONGC shall be in INR and for CEHL shall be in USD. In case if Buyer is unable to provide BG to CEHL in USD, they may provide the BG in INR, payable in USD by BG issuing bank directly to overseas account on invocation.

Payment Security. 11.1 11.1. The Buyer shall provide to each of the Sellers (as per the percentage interest share as provided by XxxxxxxVedanta) as security for its payment obligations hereunder an irrevocable, unconditional, on demand bank guarantee from a bank included in the list provided in Annexure - 8, in favour of the Sellers, for an amount specified in Clause 11.2 below, in a form provided at Annexure 6, to be in place prior to the Start Date. Bank Guarantee in favour of Vedanta and ONGC shall be in INR and for CEHL shall be in USD. In case if Buyer is unable to provide BG to CEHL in USD, they may provide the BG in INR, payable in USD by BG issuing bank directly to overseas account on invocation.

Payment Security. 11.1 The Buyer shall provide to each of the Sellers (as per the percentage interest share as provided by Xxxxxxx) as security for its payment obligations hereunder an irrevocable, unconditional, on demand payment security bank guarantee from a reputed bank included in of good standing, acceptable to the list provided in Annexure - 8Sellers, in favour of the Sellers, for an amount specified in Clause 11.2 below, in a form provided at Annexure 67, to be in place prior to from the Start Date. Bank Guarantee in favour of Vedanta and ONGC shall be in INR and for CEHL shall be in USD. In case if Buyer is unable to provide BG to CEHL in USD, they may provide the BG in INR, payable in USD by BG issuing bank directly to overseas account on invocation.

Payment Security. 11.1 The Buyer shall provide to each of the Sellers (as per the percentage interest share as provided by XxxxxxxVedanta) as security for its payment obligations hereunder an irrevocable, unconditional, on demand bank guarantee from a reputed bank included in of good standing, acceptable to the list provided in Annexure - 8Sellers, in favour of the Sellers, for an amount specified in Clause 11.2 below, in a form provided at Annexure 67, to be in place prior to the Start Date. Bank Guarantee in favour of Vedanta and ONGC shall be in INR and for CEHL shall be in USD. In case if Buyer is unable to provide BG to CEHL in USD, they may provide the BG in INR, payable in USD by BG issuing bank directly to overseas account on invocation.

Payment Security. 11.1 11.1. The Buyer shall provide to each of the Sellers (as per the percentage interest share as provided by XxxxxxxVedanta) as security for its payment obligations hereunder an irrevocable, unconditional, on demand bank guarantee from a bank included in the list provided in Annexure - 8, in favour of the Sellers, for an amount specified in Clause 11.2 below, in a form provided at Annexure 6, to be in place prior to the Start Dateon or before 27th September 2023. Bank Guarantee in favour of Vedanta and ONGC shall be in INR and for CEHL shall be in USD. In case if Buyer is unable to provide BG to CEHL in USD, they may provide the BG in INR, payable in USD by BG issuing bank directly to overseas account on invocation.