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

Procedure for cases of SPD Event of Default. 13.3.1 Upon the occurrence and continuation of any SPD Event of Default under Article 13.1, Buyer shall have the right to deliver to the SPD, with a copy to the representative of the lenders to the SPD with whom the SPD has executed the Financing Agreements, a notice stating its intention to terminate this Agreement (Buyer Preliminary Default Notice), which shall specify in reasonable detail, the circumstances giving rise to the issue of such notice.

Procedure for cases of SPD Event of Default. 13.3.1 Upon the occurrence and continuation of any SPD Event of Default under Article 13.1, Buyer NTPC shall have the right to {but not an obligation} deliver to the SPD, with a copy to the representative of the lenders to the SPD with whom the SPD has executed the Financing Agreements, a notice stating its intention to terminate this Agreement (Buyer NTPC Preliminary Default Notice), which shall specify in reasonable detail, the circumstances giving rise to the issue of such notice.

Procedure for cases of SPD Event of Default. 13.3.1 Upon the occurrence and continuation of any SPD Event of Default under Article 13.1, Buyer NTPC shall have the right to deliver to the SPD, with a copy to the representative of the lenders to the SPD with whom the SPD has executed the Financing Agreements, a notice stating its intention to terminate this Agreement (Buyer NTPC Preliminary Default Notice), which shall specify in reasonable detail, the circumstances giving rise to the issue of such notice.

Procedure for cases of SPD Event of Default. 13.3.1 Upon the occurrence and continuation of any SPD Event of Default under Article 13.1, Buyer NODAL RAILWAY shall have the right to deliver to the SPD, with a copy to the representative of the lenders to the SPD with whom the SPD has executed the Financing Agreements, a notice stating its intention to terminate this Agreement (Buyer NODAL RAILWAY Preliminary Default Notice), which shall specify in reasonable detail, the circumstances giving rise to the issue of such notice.

Procedure for cases of SPD Event of Default. 13.3.1 9.4.1 Upon the occurrence and continuation of any SPD Event of Default under Article 13.112.1, Buyer shall have the right to deliver to the SPD, with SPD a copy to the representative of the lenders to the SPD with whom the SPD has executed the Financing Agreements, a notice stating its intention to terminate this Agreement (Buyer Preliminary Default Notice)notice, which shall specify in reasonable detail, the circumstances giving rise to the issue of such notice.

Procedure for cases of SPD Event of Default. 13.3.1 Upon the occurrence and continuation of any SPD Event of Default under Article 13.1, Buyer NTPC/Discom(s) shall have the right to {but not an obligation} deliver to the SPD, with a copy to the representative of the lenders to the SPD with whom the SPD has executed the Financing Agreements, a notice stating its intention to terminate this Agreement (Buyer Preliminary Default Notice), which shall specify in reasonable detail, the circumstances giving rise to the issue of such notice.

Procedure for cases of SPD Event of Default. 13.3.1 Upon the occurrence and continuation of any SPD Event of Default under Article 13.1, Buyer NHPC shall have the right to {but not an obligation} deliver to the SPD, with a copy to the representative of the lenders to the SPD with whom the SPD has executed the Financing Agreements, a notice stating its intention to terminate this Agreement (Buyer NHPC Preliminary Default Notice), which shall specify in reasonable detail, the circumstances giving rise to the issue of such notice.