Common use of Procedure for cases of SECI Event of Default Clause in Contracts

Procedure for cases of SECI Event of Default. 13.4.1 Upon the occurrence and continuation of any SECI Event of Default specified in Article 13.2, the SPD shall have the right to deliver to SECI, a SPD Preliminary Default Notice, which notice shall specify in reasonable detail the circumstances giving rise to its issue. 13.4.2 Following the issue of a SPD Preliminary Default Notice, the Consultation Period of ninety (90) days or such longer period as the Parties may agree, shall apply and it shall be the responsibility of the Parties to discuss as to what steps shall be taken with a view to mitigate the consequences of the relevant Event of Default having regard to all the circumstances. 13.4.3 During the Consultation Period, the Parties shall continue to perform their respective obligations under this Agreement. 13.4.4 After a period of two hundred ten (210) days following the expiry of the Consultation Period and unless the Parties shall have otherwise agreed to the contrary or SECI Event of Default giving rise to the Consultation Period shall have ceased to exist or shall have been remedied, SECI under intimation to the Buying Entity and the SPD shall, subject to the prior consent of the SPD, novate its part of the PPA to any third party, including its Affiliates within the stipulated period. In the event the aforesaid novation is not acceptable to the SPD, or if no offer of novation is made by SECI within the stipulated period, then the SPD may terminate the PPA and at its discretion require SECI to pay to the SPD, damages, equivalent to 24 (twenty-four) months, or balance PPA period, whichever is less, of charges of its Contracted Capacity corresponding to the committed annual CUF. In case SECI's Event of Default is triggered by a default on the part of the Buying Entity, the above amount will be recovered by SECI from the Buying Entity. In the event of termination of PPA/PSA, on account of Event of Default by the SECI/Buying Entity, any damages or charges payable to the STU/ CTU, for the connectivity of the plant, shall be borne by SECI/Buying Entity.

Procedure for cases of SECI Event of Default. 13.4.1 Upon the occurrence and continuation of any SECI Event of Default specified in Article 13.2, the SPD WPD shall have the right to deliver to SECI, a SPD WPD Preliminary Default Notice, which notice shall specify in reasonable detail the circumstances giving rise to its issue. 13.4.2 Following the issue of a SPD WPD Preliminary Default Notice, the Consultation Period of ninety (90) days or such longer period as the Parties may agree, shall apply and it shall be the responsibility of the Parties to discuss as to what steps shall be taken with a view to mitigate the consequences of the relevant Event of Default having regard to all the circumstances. 13.4.3 During the Consultation Period, the Parties shall continue to perform their respective obligations under this Agreement. 13.4.4 After a period of two hundred ten (210) days following the expiry of the Consultation Period and unless the Parties shall have otherwise agreed to the contrary or SECI Event of Default giving rise to the Consultation Period shall have ceased to exist or shall have been remedied, SECI under intimation to the Buying Entity and the SPD WPD shall, subject to the prior consent of the SPDWPD, novate its part of the PPA to any third party, including its Affiliates within the stipulated period. In the event the aforesaid novation is not acceptable to the SPDWPD, or if no offer of novation is made by SECI within the stipulated period, then the SPD WPD may terminate the PPA and at its discretion require SECI Buying Entity to either (i) takeover the Project assets by making a payment of the termination compensation equivalent to the amount of the Debt Due and 150% (one hundred and fifty per cent) of the Adjusted Equity less Insurance Cover, if any, or, (ii) pay to the SPDWPD, damages, equivalent to 24 6 (twenty-foursix) months, or balance PPA period, period whichever is less, of charges for its contracted capacity, with the Project assets being retained by the WPD. Provided further that at the end of its Contracted Capacity corresponding to the committed annual CUF. In case SECI's Event of Default is triggered by a default on the part of the Buying Entity, the above amount will be recovered by SECI three (3) months period from the Buying Entityperiod mentioned in this Article 13.4.4, this Agreement may be terminated by the WPD. In the event of termination of PPA/PSA, on account of Event of Default by the SECI/Buying Entity, any damages or charges payable to the STU/ CTU, for the connectivity of the plant, shall be borne by SECI/the Buying Entity.

Procedure for cases of SECI Event of Default. 13.4.1 Upon the occurrence and continuation of any SECI Event of Default specified in Article 13.2, the SPD shall have the right to deliver to SECI, a SPD Preliminary Default Notice, which notice shall specify in reasonable detail the circumstances giving rise to its issue. 13.4.2 Following the issue of a SPD Preliminary Default Notice, the Consultation Period of ninety (90) days or such longer period as the Parties may agree, shall apply and it shall be the responsibility of the Parties to discuss as to what steps shall be taken with a view to mitigate the consequences of the relevant Event of Default having regard to all the circumstances. 13.4.3 During the Consultation Period, the Parties shall continue to perform their respective obligations under this Agreement. 13.4.4 After a period of two hundred ten (210) days following the expiry of the Consultation Period and unless the Parties shall have otherwise agreed to the contrary or SECI Event of Default giving rise to the Consultation Period shall have ceased to exist or shall have been remedied, SECI under intimation to the Buying Entity and the SPD shall, subject to the prior consent of the SPD, novate its part of the PPA to any third party, including its Affiliates within the stipulated period. In the event the aforesaid novation is not acceptable to the SPD, or if no offer of novation is made by SECI within the stipulated period, then the SPD may terminate the PPA and at its discretion require SECI Buying Entity to either (i) takeover the Project assets by making a payment of the termination compensation equivalent to the amount of the Debt Due and 110% (one hundred and ten per cent) of the Adjusted Equity less Insurance Cover, if any, or, (ii) pay to the SPD, damages, equivalent to 24 6 (twenty-foursix) months, or balance PPA period, period whichever is less, of charges for its contracted capacity, with the Project assets being retained by the SPD. Provided further that at the end of its Contracted Capacity corresponding to the committed annual CUF. In case SECI's Event of Default is triggered by a default on the part of the Buying Entity, the above amount will be recovered by SECI three (3) months period from the Buying Entityperiod mentioned in this Article 13.4.4, this Agreement may be terminated by the SPD. In the event of termination of PPA/PSA, on account of Event of Default by the SECI/Buying Entity, any damages or charges payable to the STU/ CTU, for the connectivity of the plant, shall be borne by SECI/the Buying Entity.

Procedure for cases of SECI Event of Default. 13.4.1 Upon the occurrence and continuation of any SECI Event of Default specified in Article 13.2, the SPD RPD shall have the right to deliver to SECI, a SPD RPD Preliminary Default Notice, which notice shall specify in reasonable detail the circumstances giving rise to its issue. 13.4.2 Following the issue of a SPD an RPD Preliminary Default Notice, the Consultation Period of ninety (90) days or such longer period as the Parties may agree, shall apply and it shall be the responsibility of the Parties to discuss as to what steps shall be taken with a view to mitigate the consequences of the relevant Event of Default having regard to all the circumstances. 13.4.3 During the Consultation Period, the Parties shall continue to perform their respective obligations under this Agreement. 13.4.4 After a period of two hundred ten (210) days following the expiry of the Consultation Period and unless the Parties shall have otherwise agreed to the contrary or SECI Event of Default giving rise to the Consultation Period shall have ceased to exist or shall have been remedied, SECI under intimation to the Buying Entity and the SPD RPD shall, subject to the prior consent of the SPDRPD, novate its part of the PPA to any third party, including its Affiliates within the stipulated period. In the event the aforesaid novation is not acceptable to the SPDRPD, or if no offer of novation is made by SECI within the stipulated period, then the SPD RPD may terminate the PPA and at its discretion require SECI to pay to the SPDRPD, damages, equivalent to 24 (twenty-four) months, or balance PPA period, whichever is less, of charges of its Contracted Capacity corresponding as per the demand profile annexed to the committed annual CUFthis Agreement. In case SECI's Event of Default is triggered by a default on the part of the Buying Entity, the above amount will be recovered by SECI from the Buying Entity. . In the event of termination of PPA/PSA, PSA on account of Event of Default by the SECI/Buying Entity, any damages or charges payable to the STU/ CTU, for the connectivity of the plantProject, shall be borne by SECI/Buying Entity.

Procedure for cases of SECI Event of Default. 13.4.1 Upon the occurrence and continuation of any SECI Event of Default specified in Article 13.2, the SPD HPD shall have the right to deliver to SECI, a SPD HPD Preliminary Default Notice, which notice shall specify in reasonable detail the circumstances giving rise to its issue. 13.4.2 Following the issue of a SPD HPD Preliminary Default Notice, the Consultation Period of ninety (90) days or such longer period as the Parties may agree, shall apply and it shall be the responsibility of the Parties to discuss as to what steps shall be taken with a view to mitigate the consequences of the relevant Event of Default having regard to all the circumstances. 13.4.3 During the Consultation Period, the Parties shall continue to perform their respective obligations under this Agreement. 13.4.4 After a period of two hundred ten (210) days following the expiry of the Consultation Period and unless the Parties shall have otherwise agreed to the contrary or SECI Event of Default giving rise to the Consultation Period shall have ceased to exist or shall have been remedied, SECI under intimation to the Buying Entity and the SPD HPD shall, subject to the prior consent of the SPDHPD, novate its part of the PPA to any third party, including its Affiliates within the stipulated period. In the event the aforesaid novation is not acceptable to the SPDHPD, or if no offer of novation is made by SECI within the stipulated period, then the SPD HPD may terminate the PPA and at its discretion require SECI Buying Entity to either (i) takeover the Project assets by making a payment of the termination compensation equivalent to the amount of the Debt Due and 110% (one hundred and ten per cent) of the Adjusted Equity, less Insurance Cover, if any, or, (ii) pay to the SPDHPD, damages, equivalent to 24 6 (twenty-foursix) months, or balance PPA period, period whichever is less, of charges for its contracted capacity, with the Project assets being retained by the HPD. Provided further that at the end of its Contracted Capacity corresponding to the committed annual CUF. In case SECI's Event of Default is triggered by a default on the part of the Buying Entity, the above amount will be recovered by SECI three (3) months period from the Buying Entityperiod mentioned in this Article 13.4.4, this Agreement may be terminated by the HPD. In the event of termination of PPA/PSA, on account of Event of Default by the SECI/Buying Entity, any damages or charges payable to the STU/ CTU, for the connectivity of the plant, shall be borne by SECI/the Buying Entity.

Procedure for cases of SECI Event of Default. 13.4.1 Upon the occurrence and continuation of any SECI Event of Default specified in Article 13.2, the SPD HPD shall have the right to deliver to SECI, a SPD HPD Preliminary Default Notice, which notice shall specify in reasonable detail the circumstances giving rise to its issue. 13.4.2 Following the issue of a SPD HPD Preliminary Default Notice, the Consultation Period of ninety (90) days or such longer period as the Parties may agree, shall apply and it shall be the responsibility of the Parties to discuss as to what steps shall be taken with a view to mitigate the consequences of the relevant Event of Default having regard to all the circumstances. 13.4.3 During the Consultation Period, the Parties shall continue to perform their respective obligations under this Agreement. 13.4.4 After a period of two hundred ten (210) days following the expiry of the Consultation Period and unless the Parties shall have otherwise agreed to the contrary or SECI Event of Default giving rise to the Consultation Period shall have ceased to exist or shall have been remedied, SECI under intimation to the Buying Entity and the SPD HPD shall, subject to the prior consent of the SPDHPD, novate its part of the PPA to any third party, including its Affiliates within the stipulated period. In the event the aforesaid novation is not acceptable to the SPDHPD, or if no offer of novation is made by SECI within the stipulated period, then the SPD HPD may terminate the PPA and at its discretion require SECI to pay to the SPDHPD, damages, equivalent to 24 (twenty-four) months, or balance PPA period, whichever is less, of charges of its Contracted Capacity corresponding to the committed annual CUF. In case SECI's Event of Default is triggered by a default on the part of the Buying Entity, the above amount will be recovered by SECI from the Buying Entity. In the event of termination of PPA/PSA, on account of Event of Default by the SECI/Buying Entity, any damages or charges payable to the STU/ CTU, for the connectivity of the plant, shall be borne by SECI/Buying Entity.

Procedure for cases of SECI Event of Default. 13.4.1 Upon the occurrence and continuation of any SECI Event of Default specified in Article 13.2, the SPD WPD shall have the right to deliver to SECI, a SPD WPD Preliminary Default Notice, which notice shall specify in reasonable detail the circumstances giving rise to its issue. 13.4.2 Following the issue of a SPD WPD Preliminary Default Notice, the Consultation Period of ninety (90) days or such longer period as the Parties may agree, shall apply and it shall be the responsibility of the Parties to discuss as to what steps shall be taken with a view to mitigate the consequences of the relevant Event of Default having regard to all the circumstances. 13.4.3 During the Consultation Period, the Parties shall continue to perform their respective obligations under this Agreement. 13.4.4 After a period of two hundred ten (210) days following the expiry of the Consultation Period and unless the Parties shall have otherwise agreed to the contrary or SECI Event of Default giving rise to the Consultation Period shall have ceased to exist or shall have been remedied, SECI under intimation to the Buying Entity and the SPD WPD shall, subject to the prior consent of the SPDWPD, novate its part of the PPA to any third party, including its Affiliates within the stipulated period. In the event the aforesaid novation is not acceptable to the SPDWPD, or if no offer of novation is made by SECI within the stipulated period, then the SPD WPD may terminate the PPA and at its discretion require SECI to pay to the SPDWPD, damages, equivalent to 24 (twenty-four) months, or balance PPA period, whichever is less, of charges of its Contracted Capacity corresponding to the committed annual CUF. In case SECI's Event of Default is triggered by a default on the part of the Buying Entity, the above amount will be recovered by SECI from the Buying Entity. In the event of termination of PPA/PSA, on account of Event of Default by the SECI/Buying Entity, any damages or charges payable to the STU/ CTU, for the connectivity of the plant, shall be borne by SECI/Buying Entity.

Procedure for cases of SECI Event of Default. 13.4.1 Upon the occurrence and continuation of any SECI Event of Default specified in Article 13.2, the SPD shall have the right to deliver to SECI, a SPD Preliminary Default Notice, which notice shall specify in reasonable detail the circumstances giving rise to its issue. 13.4.2 Following the issue of a SPD Preliminary Default Notice, the Consultation Period of ninety (90) days or such longer period as the Parties may agree, shall apply and it shall be the responsibility of the Parties to discuss as to what steps shall be taken with a view to mitigate the consequences of the relevant Event of Default having regard to all the circumstances. 13.4.3 During the Consultation Period, the Parties shall continue to perform their respective obligations under this Agreement. 13.4.4 After a period of two hundred ten (210) days following the expiry of the Consultation Period and unless the Parties shall have otherwise agreed to the contrary or SECI Event of Default giving rise to the Consultation Period shall have ceased to exist or shall have been remedied, SECI under intimation to the Buying Entity and the SPD shall, subject to the prior consent of the SPD, novate its part of the PPA to any third party, including its Affiliates within the stipulated period. In the event the aforesaid novation is not acceptable to the SPD, or if no offer of novation is made by SECI within the stipulated period, then the SPD may terminate the PPA and at its discretion require SECI Buying Entity to either (i) takeover the Project assets by making a payment of the termination compensation equivalent to the amount of the debt due and 150% (one hundred and fifty per cent) of the adjusted equity or, (ii) pay to the SPD, damages, equivalent to 24 6 (twenty-foursix) months, or balance PPA period, period whichever is less, of charges for its contracted capacity, with the Project assets being retained by the SPD. Provided further that at the end of its Contracted Capacity corresponding to the committed annual CUF. In case SECI's Event of Default is triggered by a default on the part of the Buying Entity, the above amount will be recovered by SECI three (3) months period from the Buying Entityperiod mentioned in this Article 13.4.4, this Agreement may be terminated by the SPD. In the event of termination of PPA/PSA, on account of Event of Default by the SECI/Buying Entity, any damages or charges payable to the STU/ CTU, for the connectivity of the plant, shall be borne by SECI/the Buying Entity.

Procedure for cases of SECI Event of Default. 13.4.1 Upon the occurrence and continuation of any SECI Event of Default specified in Article 13.2, the SPD shall have the right to deliver to SECI, a SPD Preliminary Default Notice, which notice shall specify in reasonable detail the circumstances giving rise to its issue. 13.4.2 Following the issue of a SPD Preliminary Default Notice, the Consultation Period of ninety (90) days or such longer period as the Parties may agree, shall apply and it shall be the responsibility of the Parties to discuss as to what steps shall be taken with a view to mitigate the consequences of the relevant Event of Default having regard to all the circumstances. 13.4.3 During the Consultation Period, the Parties shall continue to perform their respective obligations under this Agreement. 13.4.4 After a period of two hundred ten (210) days following the expiry of the Consultation Period and unless the Parties shall have otherwise agreed to the contrary or SECI Event of Default giving rise to the Consultation Period shall have ceased to exist or shall have been remedied, SECI under intimation to the Buying Entity and the SPD shall, subject to the prior consent of the SPD, novate its part of the PPA to any third party, including its Affiliates within the stipulated period. In the event the aforesaid novation is not acceptable to the SPD, or if no offer of novation is made by SECI within the stipulated period, then the SPD may terminate the PPA and at its discretion require SECI Buying Entity to either (i) takeover the Project assets by making a payment of the termination compensation equivalent to the amount of the debt due and 150% (one hundred and fifty per cent) of the adjusted equity or, (ii) pay to the SPD, damages, equivalent to 24 6 (twenty-foursix) months, or balance PPA period, period whichever is less, of charges for its contracted capacity, with the Project assets being retained by the SPD. Provided further that at the end of its Contracted Capacity corresponding to the committed annual CUF. In case SECI's Event of Default is triggered by a default on the part of the Buying Entity, the above amount will be recovered by SECI three (3) months period from the Buying Entityperiod mentioned in this Article 13.4.4, this Agreement may be terminated by the SPD. In the event of termination of PPA/PSA, on account of Event of Default by the SECI/Buying Entity, any damages or charges payable to the STU/ CTUSTU, for the connectivity of the plant, shall be borne by SECI/the Buying Entity.

Procedure for cases of SECI Event of Default. 13.4.1 Upon the occurrence and continuation of any SECI Event of Default specified in Article 13.2, the SPD RPD shall have the right to deliver to SECI, a SPD RPD Preliminary Default Notice, which notice shall specify in reasonable detail the circumstances giving rise to its issue. 13.4.2 Following the issue of a SPD RPD Preliminary Default Notice, the Consultation Period of ninety (90) days or such longer period as the Parties RPD and SECI may agree, shall apply and it shall be the responsibility of the Parties RPD and SECI to discuss as to what steps shall be taken with a view to mitigate the consequences of the relevant Event of Default having regard to all the circumstances. 13.4.3 During the Consultation Period, the Parties RPD and SECI shall continue to perform their respective obligations under this Agreement. 13.4.4 After a period of two hundred ten (210) days following the expiry of the Consultation Period and unless the Parties RPD and SECI shall have otherwise agreed to the contrary or SECI Event of Default giving rise to the Consultation Period shall have ceased to exist or shall have been remedied, SECI under intimation to the Buying Entity and the SPD RPD shall, subject to the prior consent of the SPDRPD, novate its part of the PPA to any third party, including its Affiliates within the stipulated period. In the event the aforesaid novation is not acceptable to the SPDRPD , or if no offer of novation is made by SECI within the stipulated period, then the SPD RPD may terminate the PPA and at its discretion require SECI Buying Entity to either (i) takeover the RE Project assets by making a payment of the termination compensation equivalent to the amount of the Debt Due (on the concerned RE Project) and 110% (one hundred and ten per cent) of the Adjusted Equity (on the concerned RE Project) less Insurance Cover, if any, or, (ii) pay to the SPDRPD , damages, equivalent to 24 6 (twenty-foursix) months, or balance PPA period, period whichever is less, of charges for its contracted capacity, with the RE Project assets being retained by the RPD . Provided further that at the end of its Contracted Capacity corresponding to the committed annual CUF. In case SECI's Event of Default is triggered by a default on the part of the Buying Entity, the above amount will be recovered by SECI three (3) months period from the Buying Entityperiod mentioned in this Article 13.4.4, this Agreement may be terminated by the RPD. In the event of termination of PPA/PSA, on account of Event of Default by the SECI/Buying Entity, any damages or charges payable to the STU/ CTU, for the connectivity of the plant, shall be borne by SECI/the Buying Entity.

Procedure for cases of SECI Event of Default. 13.4.1 Upon the occurrence and continuation of any SECI Event of Default specified in Article 13.2, the SPD RPD shall have the right to deliver to SECI, a SPD RPD Preliminary Default Notice, which notice shall specify in reasonable detail the circumstances giving rise to its issue. 13.4.2 Following the issue of a SPD an RPD Preliminary Default Notice, the Consultation Period of ninety (90) days or such longer period as the Parties may agree, shall apply and it shall be the responsibility of the Parties to discuss as to what steps shall be taken with a view to mitigate the consequences of the relevant Event of Default having regard to all the circumstances. 13.4.3 During the Consultation Period, the Parties shall continue to perform their respective obligations under this Agreement. 13.4.4 After a period of two hundred ten (210) days following the expiry of the Consultation Period and unless the Parties shall have otherwise agreed to the contrary or SECI Event of Default giving rise to the Consultation Period shall have ceased to exist or shall have been remedied, SECI under intimation to the Buying Entity and the SPD RPD shall, subject to the prior consent of the SPDRPD, novate its part of the PPA to any third party, including its Affiliates within the stipulated period. In the event the aforesaid novation is not acceptable to the SPDRPD, or if no offer of novation is made by SECI within the stipulated period, then the SPD RPD may terminate the PPA and at its discretion require SECI to pay to the SPDRPD, damages, equivalent to 24 (twenty-four) months, or balance PPA period, whichever is less, of charges of its Contracted Capacity corresponding as per the demand profile annexed to the committed annual CUFthis Agreement. In case SECI's Event of Default is triggered by a default on the part of the Buying Entity, the above amount will be recovered by SECI from the Buying Entity. In the event of termination of PPA/PSA, PSA on account of Event of Default by the SECI/Buying Entity, any damages or charges payable to the STU/ CTU, for the connectivity of the plantProject, shall be borne by SECI/Buying Entity.

Procedure for cases of SECI Event of Default. 13.4.1 Upon the occurrence and continuation of any SECI Event of Default specified in Article 13.2, the SPD RPD shall have the right to deliver to SECI, a SPD RPD Preliminary Default Notice, which notice shall specify in reasonable detail the circumstances giving rise to its issue. 13.4.2 Following the issue of a SPD an RPD Preliminary Default Notice, the Consultation Period of ninety (90) days or such longer period as the Parties may agree, shall apply and it shall be the responsibility of the Parties to discuss as to what steps shall be taken with a view to mitigate the consequences of the relevant Event of Default having regard to all the circumstances. 13.4.3 During the Consultation Period, the Parties shall continue to perform their respective obligations under this Agreement. 13.4.4 After a period of two hundred ten (210) days following the expiry of the Consultation Period and unless the Parties shall have otherwise agreed to the contrary or SECI Event of Default giving rise to the Consultation Period shall have ceased to exist or shall have been remedied, SECI under intimation to the Buying Entity and the SPD RPD shall, subject to the prior consent of the SPDRPD, novate its part of the PPA to any third party, including its Affiliates within the stipulated period. In the event the aforesaid novation is not acceptable to the SPDRPD, or if no offer of novation is made by SECI within the stipulated period, then the SPD RPD may terminate the PPA and at its discretion require SECI to pay to the SPDRPD, damages, equivalent to 24 (twenty-four) months, or balance PPA period, whichever is less, of charges of its Contracted Capacity corresponding to the committed annual CUFCapacity, calculated based on a Demand Fulfilment Ratio of 80%. In case SECI's Event of Default is triggered by a default on the part of the Buying Entity, the above amount will be recovered by SECI from the Buying Entity. In the event of termination of PPA/PSA, PSA on account of Event of Default by the SECI/Buying Entity, any damages or charges payable to the STU/ CTU, for the connectivity of the plantProject, shall be borne by SECI/Buying Entity.

Procedure for cases of SECI Event of Default. 13.4.1 Upon the occurrence and continuation of any SECI Event of Default specified in Article 13.2, the SPD HPD shall have the right to deliver to SECI, a SPD an HPD Preliminary Default Notice, which notice shall specify in reasonable detail the circumstances giving rise to its issue. 13.4.2 Following the issue of a SPD HPD Preliminary Default Notice, the Consultation Period of ninety (90) days or such longer period as the Parties may agree, shall apply and it shall be the responsibility of the Parties to discuss as to what steps shall be taken with a view to mitigate the consequences of the relevant Event of Default having regard to all the circumstances. 13.4.3 During the Consultation Period, the Parties shall continue to perform their respective obligations under this Agreement. 13.4.4 After a period of two hundred ten (210) days following the expiry of the Consultation Period and unless the Parties shall have otherwise agreed to the contrary or SECI Event of Default giving rise to the Consultation Period shall have ceased to exist or shall have been remedied, SECI under intimation to the Buying Entity and the SPD HPD shall, subject to the prior consent of the SPDHPD, novate its part of the PPA to any third party, including its Affiliates within the stipulated period. In the event the aforesaid novation is not acceptable to the SPDHPD, or if no offer of novation is made by SECI within the stipulated period, then the SPD HPD may terminate the PPA and at its discretion require SECI Buying Entity to either (i) takeover the Project assets by making a payment of the termination compensation equivalent to the amount of the debt due and 150% (one hundred and fifty per cent) of the adjusted equity or, (ii) pay to the SPDHPD, damages, equivalent to 24 6 (twenty-foursix) months, or balance PPA period, period whichever is less, of charges for its contracted capacity, with the Project assets being retained by the HPD. Provided further that at the end of its Contracted Capacity corresponding to the committed annual CUF. In case SECI's Event of Default is triggered by a default on the part of the Buying Entity, the above amount will be recovered by SECI three (3) months period from the Buying Entityperiod mentioned in this Article 13.4.4, this Agreement may be terminated by the HPD. In the event of termination of PPA/PSA, on account of Event of Default by the SECI/Buying Entity, any damages or charges payable to the STU/ CTU, for the connectivity of the plant, shall be borne by SECI/the Buying Entity.

Procedure for cases of SECI Event of Default. 13.4.1 Upon the occurrence and continuation of any SECI Event of Default specified in Article 13.2, the SPD BESSD shall have the right to deliver to SECI, a SPD BESSD Preliminary Default Notice, which notice shall specify in reasonable detail the circumstances giving rise to its issue. 13.4.2 Following the issue of a SPD BESSD Preliminary Default Notice, the Consultation Period of ninety (90) days or such longer period as the Parties may agree, shall apply and it shall be the responsibility of the Parties to discuss as to what steps shall be taken with a view to mitigate the consequences of the relevant Event of Default having regard to all the circumstances. 13.4.3 During the Consultation Period, the Parties shall continue to perform their respective obligations under this Agreement. 13.4.4 After a period of two hundred ten (210) days following the expiry of the Consultation Period and unless the Parties shall have otherwise agreed to the contrary or SECI Event of Default giving rise to the Consultation Period shall have ceased to exist or shall have been remedied, SECI under intimation to the Buying Entity and the SPD BESSD shall, subject to the prior consent of the SPDBESSD, novate its part of the PPA BESPA to any third party, including its Affiliates Affiliates, within the stipulated period. In this case, SECI shall pay amount equivalent to 3 (three) months of energy billing based on the declared availability, or balance Term of the BESPA, whichever is less, for its Contracted Capacity, with the Project assets being retained by the BESSD, and exit from the BESPA. In the event the aforesaid novation is not acceptable to the SPDBESSD, or if no offer of novation is made by SECI within the stipulated period, then the SPD BESSD may terminate the PPA BESPA and at its discretion require choose to either continue operating the Project by itself finding an alternate procurer or to discontinue the operation of the Project. If the BESSD chooses to continue operating the project, SECI to will pay to the SPDBESSD, damages, ‘termination compensation’ equivalent to 24 6 (twenty-foursix) monthsmonths of energy billing corresponding to the declared availability, or balance PPA periodTerm of the BESPA, whichever is less, of charges of for its Contracted Capacity corresponding to the committed annual CUFCapacity. In case SECI's Event of Default is triggered by a default on the part of the Buying Entity, the above amount will be recovered by SECI from the Buying Entity. If the BESSD decides to discontinue the operation of the Project, it may require SECI to make a payment of the 'termination compensation' which will be equivalent to the amount of the Debt due and 110% (one hundred and ten per cent) of the Adjusted Equity, less Insurance Cover if any. Provided further that at the end of three (3) months period from the period mentioned in this Article 13.4.4, this Agreement may be terminated by the BESSD. In the event of termination of PPABESPA/PSAXXXXX, on account of Event of Default by the SECI/Buying Entity, any damages or charges payable to the STU/ CTU, for the connectivity of the plant, shall be borne by SECI/Buying Entitythe by the entity due to whose failure, the termination was triggered.

Procedure for cases of SECI Event of Default. 13.4.1 Upon the occurrence and continuation of any SECI Event of Default specified in Article 13.2, the SPD shall have the right to deliver to SECI, a SPD Preliminary Default Notice, which notice shall specify in reasonable detail the circumstances giving rise to its issue. 13.4.2 Following the issue of a SPD Preliminary Default Notice, the Consultation Period of ninety (90) days or such longer period as the Parties may agree, shall apply and it shall be the responsibility of the Parties to discuss as to what steps shall be taken with a view to mitigate the consequences of the relevant Event of Default having regard to all the circumstances. 13.4.3 During the Consultation Period, the Parties shall continue to perform their respective obligations under this Agreement. 13.4.4 After a period of two hundred ten (210) days following the expiry of the Consultation Period and unless the Parties shall have otherwise agreed to the contrary or SECI Event of Default giving rise to the Consultation Period shall have ceased to exist or shall have been remedied, SECI under intimation to the Buying Entity and the SPD shall, subject to the prior consent of the SPD, novate its part of the PPA to any third party, including its Affiliates within the stipulated period. In the event the aforesaid novation is not acceptable to the SPD, or if no offer of novation is made by SECI within the stipulated period, then the SPD may terminate the PPA and at its discretion require SECI Buying Entity to either (i) takeover the Project assets by making a payment of the termination compensation equivalent to the amount of the Debt Due and 110% (one hundred and ten per cent) of the Adjusted Equity less Insurance Cover, if any, or, (ii) pay to the SPD, damages, equivalent to 24 6 (twenty-foursix) months, or balance PPA period, period whichever is less, of charges for its contracted capacity, with the Project assets being retained by the SPD. Provided further that at the end of its Contracted Capacity corresponding to the committed annual CUF. In case SECI's Event of Default is triggered by a default on the part of the Buying Entity, the above amount will be recovered by SECI three (3) months period from the Buying Entityperiod mentioned in this Article 13.4.4, this Agreement may be terminated by the SPD. In the event of termination of PPA/PSA, on account of Event of Default by the SECI/Buying Entity, any damages or charges payable to the STU/ CTU, for the connectivity of the plant, shall be borne by SECI/the by the Buying Entity.

Procedure for cases of SECI Event of Default. 13.4.1 Upon the occurrence and continuation of any SECI Event of Default specified in Article 13.2, the SPD RPD shall have the right to deliver to SECI, a SPD RPD Preliminary Default Notice, which notice shall specify in reasonable detail the circumstances giving rise to its issue. 13.4.2 Following the issue of a SPD RPD Preliminary Default Notice, the Consultation Period of ninety (90) days or such longer period as the Parties may agree, shall apply and it shall be the responsibility of the Parties to discuss as to what steps shall be taken with a view to mitigate the consequences of the relevant Event of Default having regard to all the circumstances. 13.4.3 During the Consultation Period, the Parties shall continue to perform their respective obligations under this Agreement. 13.4.4 After a period of two hundred ten (210) days following the expiry of the Consultation Period and unless the Parties shall have otherwise agreed to the contrary or SECI Event of Default giving rise to the Consultation Period shall have ceased to exist or shall have been remedied, SECI under intimation to the Buying Entity and the SPD RPD shall, subject to the prior consent of the SPDRPD, novate its part of the PPA to any third party, including its Affiliates within the stipulated period. In the event the aforesaid novation is not acceptable to the SPDRPD , or if no offer of novation is made by SECI within the stipulated period, then the SPD RPD may terminate the PPA and at its discretion require SECI Buying Entity to either (i) takeover the RE Project assets by making a payment of the termination compensation equivalent to the amount of the Debt Due (on the concerned RE Project) and 110% (one hundred and ten per cent) of the Adjusted Equity (on the concerned RE Project) less Insurance Cover, if any, or, (ii) pay to the SPDRPD , damages, equivalent to 24 6 (twenty-foursix) months, or balance PPA period, period whichever is less, of charges for its contracted capacity, with the RE Project assets being retained by the RPD . Provided further that at the end of its Contracted Capacity corresponding to the committed annual CUF. In case SECI's Event of Default is triggered by a default on the part of the Buying Entity, the above amount will be recovered by SECI three (3) months period from the Buying Entityperiod mentioned in this Article 13.4.4, this Agreement may be terminated by the RPD. In the event of termination of PPA/PSA, on account of Event of Default by the SECI/Buying Entity, any damages or charges payable to the STU/ CTU, for the connectivity of the plant, shall be borne by SECI/the Buying Entity.

Procedure for cases of SECI Event of Default. 13.4.1 14.4.1 Upon the occurrence and continuation of any SECI Event of Default specified in Article 13.214.2, the SPD GAP shall have the right to deliver to SECI, a SPD GAP Preliminary Default Notice, which notice shall specify in reasonable detail the circumstances giving rise to its issue. 13.4.2 14.4.2 Following the issue of a SPD GAP Preliminary Default Notice, the Consultation Period of ninety (90) days or such longer period as the Parties may agree, shall apply and it shall be the responsibility of the Parties to discuss as to what steps shall be taken with a view to mitigate the consequences of the relevant Event of Default having regard to all the circumstances. 13.4.3 14.4.3 During the Consultation Period, the Parties shall continue to perform their respective obligations under this Agreement. 13.4.4 14.4.4 After a period of two hundred ten (210) days following the expiry of the Consultation Period and unless the Parties shall have otherwise agreed to the contrary or SECI Event of Default giving rise to the Consultation Period shall have ceased to exist or shall have been remedied, SECI under intimation to the Buying Entity Procurer and the SPD GAP shall, subject to the prior consent of the SPDGAP, novate its part of the PPA GAPA to any third party, including its Affiliates within the stipulated period. In the event the aforesaid novation is not acceptable to the SPDGAP, or if no offer of novation is made by SECI within the stipulated period, then the SPD GAP may terminate the PPA GAPA and at its discretion require SECI to pay to the SPDGAP, damages, equivalent to 24 36 (twenty-fourthirty six) months, or balance PPA GAPA period, whichever is less, of charges of for its Contracted Capacity corresponding to contracted capacity with the committed annual CUF. stipulated availability. 14.4.5 In case SECI's Event of Default is triggered by a default on the part of the Buying EntityProcurer, the above amount will be recovered by SECI from the Buying EntityProcurer and subsequently passed on to GAP. In the event of termination of PPA/PSA, on account of Event of Default by the SECI/Buying Entity, any damages or charges payable ’s default shall be limited to the STU/ CTU, amount which can be recovered from the Procurer for the connectivity default on the part of the plant, shall be borne by SECI/Buying EntityProcurer.

Procedure for cases of SECI Event of Default. 13.4.1 Upon the occurrence and continuation of any SECI Event of Default specified in Article 13.2, the SPD shall have the right to deliver to SECI, a SPD Preliminary Default Notice, which notice shall specify in reasonable detail the circumstances giving rise to its issue. 13.4.2 Following the issue of a SPD Preliminary Default Notice, the Consultation Period of ninety (90) days or such longer period as the Parties may agree, shall apply and it shall be the responsibility of the Parties to discuss as to what steps shall be taken with a view to mitigate the consequences of the relevant Event of Default having regard to all the circumstances. 13.4.3 During the Consultation Period, the Parties shall continue to perform their respective obligations under this Agreement. 13.4.4 After a period of two hundred ten (210) days following the expiry of the Consultation Period and unless the Parties shall have otherwise agreed to the contrary or SECI Event of Default giving rise to the Consultation Period shall have ceased to exist or shall have been remedied, SECI under intimation to the Buying Entity and the SPD shall, subject to the prior consent of the SPD, novate its part of the PPA to any third party, including its Affiliates within the stipulated period. In the event the aforesaid novation is not acceptable to the SPD, or if no offer of novation is made by SECI within the stipulated period, then the SPD may terminate the PPA and at its discretion require SECI Buying Entity to either (i) takeover the Project assets by making a payment of the termination compensation equivalent to the amount of the Debt Due and 110% (one hundred and ten per cent) of the Adjusted Equity less Insurance Cover, if any, or, (ii) pay to the SPD, damages, equivalent to 24 6 (twenty-foursix) months, or balance PPA period, period whichever is less, of charges for its contracted capacity, with the Project assets being retained by the SPD. Provided further that at the end of its Contracted Capacity corresponding to the committed annual CUF. In case SECI's Event of Default is triggered by a default on the part of the Buying Entity, the above amount will be recovered by SECI three (3) months period from the Buying Entityperiod mentioned in this Article 13.4.4, this Agreement may be terminated by the SPD. In the event of termination of PPA/PSA, on account of Event of Default by the SECI/Buying Entity, any damages or charges payable to the STU/ CTU, for the connectivity of the plant, shall be borne by SECI/Buying Entitythe by the entity due to whose failure, the termination was triggered.

Procedure for cases of SECI Event of Default. 13.4.1 Upon the occurrence and continuation of any SECI Event of Default specified in Article 13.2, the SPD BESSD shall have the right to deliver to SECI, a SPD BESSD Preliminary Default Notice, which notice shall specify in reasonable detail the circumstances giving rise to its issue. 13.4.2 Following the issue of a SPD BESSD Preliminary Default Notice, the Consultation Period of ninety (90) days or such longer period as the Parties may agree, shall apply and it shall be the responsibility of the Parties to discuss as to what steps shall be taken with a view to mitigate the consequences of the relevant Event of Default having regard to all the circumstances. 13.4.3 During the Consultation Period, the Parties shall continue to perform their respective obligations under this Agreement. 13.4.4 After a period of two hundred ten (210) days following the expiry of the Consultation Period and unless the Parties shall have otherwise agreed to the contrary or SECI Event of Default giving rise to the Consultation Period shall have ceased to exist or shall have been remedied, SECI under intimation to the Buying Entity and the SPD BESSD shall, subject to the prior consent of the SPDBESSD, novate its part of the PPA BESPA to any third party, including its Affiliates within the stipulated period. In the event the aforesaid novation is not acceptable to the SPDBESSD, or if no offer of novation is made by SECI within the stipulated period, then the SPD BESSD may terminate the PPA BESPA and at its discretion require SECI Buying Entity to either (i) takeover the Project assets by making a payment of the termination compensation equivalent to the amount of the Debt Due and 110% (one hundred and ten per cent) of the Adjusted Equity less Insurance Cover, if any, or, (ii) pay to the SPDBESSD, damages, equivalent to 24 6 (twenty-foursix) months, or balance PPA period, BESPA period whichever is less, of charges for its contracted capacity, with the Project assets being retained by the BESSD. Provided further that at the end of its Contracted Capacity corresponding to the committed annual CUF. In case SECI's Event of Default is triggered by a default on the part of the Buying Entity, the above amount will be recovered by SECI three (3) months period from the Buying Entityperiod mentioned in this Article 13.4.4, this Agreement may be terminated by the BESSD. In the event of termination of PPA/PSA, on account of Event of Default by the SECI/Buying EntityBESPA, any damages or charges payable to the STU/ CTU, for the connectivity of the plant, shall be borne by SECI/Buying Entitythe by the entity due to whose failure, the termination was triggered.

Procedure for cases of SECI Event of Default. 13.4.1 Upon the occurrence and continuation of any SECI Event of Default specified in Article 13.2, the SPD OWPD shall have the right to deliver to SECI, a SPD OWPD Preliminary Default Notice, which notice shall specify in reasonable detail the circumstances giving rise to its issue. 13.4.2 Following the issue of a SPD OWPD Preliminary Default Notice, the Consultation Period of ninety (90) days or such longer period as the Parties may agree, shall apply and it shall be the responsibility of the Parties to discuss as to what steps shall be taken with a view to mitigate the consequences of the relevant Event of Default having regard to all the circumstances. 13.4.3 During the Consultation Period, the Parties shall continue to perform their respective obligations under this Agreement. 13.4.4 After a period of two hundred ten (210) days following the expiry of the Consultation Period and unless the Parties shall have otherwise agreed to the contrary or SECI Event of Default giving rise to the Consultation Period shall have ceased to exist or shall have been remedied, SECI under intimation to the Buying Entity and the SPD OWPD shall, subject to the prior consent of the SPDOWPD, novate its part of the PPA to any third party, including its Affiliates within the stipulated period. In the event the aforesaid novation is not acceptable to the SPDOWPD, or if no offer of novation is made by SECI within the stipulated period, then the SPD OWPD may terminate the PPA and at its discretion require the Buying Entity through SECI to pay to the SPDOWPD, damages, equivalent to 24 (twenty-four) months, or balance PPA period, whichever is less, of charges of its Contracted Capacity corresponding to the committed annual CUF. In case SECI's Event of Default is triggered by a default on the part of the Buying Entity, the above amount will be recovered by SECI from the Buying Entity. In the event of termination of PPA/PSA, on account of Event of Default by the SECI/Buying Entity, any damages or charges payable to the STU/ CTU, for the connectivity of the plant, shall be borne by SECI/Buying Entity.