Common use of Procedure for cases of Solar Power Developer Event of Default Clause in Contracts

Procedure for cases of Solar Power Developer Event of Default. 10.3.1 Upon the occurrence and continuation of any solar power developer Event of Default under Clause 10.1, DISCOM shall have the right to deliver to the solar power developer, with a copy to the representative of the lenders to the solar power developer with whom the solar power developer has executed the Financing Agreements, a notice stating its intention to terminate this Agreement (“DISCOM Preliminary Default Notice”), which shall specify in reasonable detail, the circumstances giving rise to the issue of such notice. 10.3.2 Following the issue of a DISCOM Preliminary Default Notice, the Conciliation Period of sixty (60) 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 solar power developer Event of Default having regard to all the circumstances.

Procedure for cases of Solar Power Developer Event of Default. 10.3.1 Upon the occurrence and continuation of any solar power developer Solar Power Developer Event of Default under Clause 10.1, DISCOM shall have the right to deliver to the solar power developerSolar Power Developer, with a copy to the representative of the lenders to the solar power developer Solar Power Developer with whom the solar power developer Solar Power Developer has executed the Financing Agreements, a notice stating its intention to terminate this Agreement (“DISCOM Preliminary Default Notice”), which shall specify in reasonable detail, the circumstances giving rise to the issue of such notice. 10.3.2 Following the issue of a DISCOM Preliminary Default Notice, the Conciliation Period of sixty (60) 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 solar power developer Event of Default having regard to all the circumstances.shall

Procedure for cases of Solar Power Developer Event of Default. 10.3.1 Upon the occurrence and continuation of any solar power developer Solar Power Developer Event of Default under Clause 10.1, DISCOM shall have the right to deliver to the solar power developerSolar Power Developer, with a copy to the representative of the lenders to the solar power developer Solar Power Developer with whom the solar power developer Solar Power Developer has executed the Financing Agreements, a notice stating its intention to terminate this Agreement (“DISCOM Preliminary Default Notice”), which shall specify in reasonable detail, the circumstances giving rise to the issue of such notice. 10.3.2 Following the issue of a DISCOM Preliminary Default Notice, the Conciliation Period of sixty (60) 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 solar power developer Event of Default having regard to all the circumstances.Solar Power developer

Procedure for cases of Solar Power Developer Event of Default. 10.3.1 Upon the occurrence and continuation of any solar power developer Solar Power Developer Event of Default under Clause 10.1, DISCOM shall have the right to deliver to the solar power developerSolar Power Developer, with a copy to the representative of the lenders to the solar power developer Solar Power Developer with whom the solar power developer Solar Power Developer has executed the Financing Agreements, a notice stating its intention to terminate this Agreement (“DISCOM Preliminary Default Notice”), which shall specify in reasonable detail, the circumstances giving rise to the issue of such notice. 10.3.2 Following the issue of a DISCOM Preliminary Default Notice, the Conciliation Period of sixty (60) 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 solar power Solar Power developer Event of Default having regard to all the circumstances.