Performance Bank Guarantee. 4.2.1 The Performance Bank Guarantee furnished by Generator to MSEDCL shall be for guaranteeing the commissioning / commercial operation of the project / unit up to the Exportable Contracted Capacity within SCOD. 4.2.2 If the Generator fails to commission the project / Unit on or before Scheduled Commercial Operation Date, MSEDCL shall have the right to encash the Performance Bank Guarantee without prejudice to the other rights of the Generator under this Agreement as per Clause 3.4. 4.2.3 MSEDCL shall release the Performance Bank Guarantee upon successful commissioning of full contracted capacity after adjusting Liquidated Damages (if any) as per Clause 3.4.
Appears in 7 contracts
Samples: Power Purchase Agreement, Power Purchase Agreement, Power Purchase Agreement
Performance Bank Guarantee. 4.2.1 The Performance Bank Guarantee furnished by Generator to MSEDCL shall be for guaranteeing the commissioning / commercial operation of the project / unit up to the Exportable Contracted Capacity within SCOD.
4.2.2 If the Generator fails to commission the project / Unit on or before Scheduled Commercial Operation Date, MSEDCL shall have the right to encash the Performance Bank Guarantee without prejudice to the other rights of the Generator under this Agreement as per Clause 3.4.
4.2.3 MSEDCL shall release the Performance Bank Guarantee upon successful commissioning of full contracted capacity after adjusting Liquidated Damages (if any) as per Clause 3.4.
Appears in 1 contract
Samples: Power Purchase Agreement
