Performance Bank Guarantee. 4.2.1 The Performance Bank Guarantee furnished by Power Producer to GUVNL shall be for guaranteeing the commissioining / commercial operation of the project up to the Contracted Capacity within SCOD. 4.2.2 If the Power Producer fails to commission the project on or before Scheduled Commercial Operation Date, GUVNL shall have the right to encash the Performance Bank Guarantee without prejudice to the other rights of the Power Producer under this Agreement as per Article 3.3. 4.2.3 GUVNL shall release the Performance Bank Guarantee upon successful commissioning of full contracted capacity after adjusting Liquidated Damages (if any) as per Article 3.3.
Appears in 22 contracts
Samples: Power Purchase Agreement, Power Purchase Agreement, Power Purchase Agreement
Performance Bank Guarantee. 4.2.1 The Performance Bank Guarantee furnished by Power Producer to GUVNL shall be for guaranteeing the commissioining / commercial operation of the project up to the Contracted Capacity within SCODSCSD.
4.2.2 If the Power Producer fails to commission the project on or before Scheduled Commercial Operation DateCommencement of Supply Date (SCSD), GUVNL shall have the right to encash the Performance Bank Guarantee without prejudice to the other rights of the Power Producer under this Agreement as per Article 3.3.
4.2.3 GUVNL shall release the Performance Bank Guarantee upon successful commissioning of full contracted capacity after adjusting Liquidated Damages (if any) as per Article 3.3.
Appears in 2 contracts
Samples: Power Purchase Agreement (Ppa), Power Purchase Agreement (Ppa)
