Common use of ProcedureforcasesofSPGEventofDefault Clause in Contracts

ProcedureforcasesofSPGEventofDefault. 13.3.1 Upon the occurrence and continuation of any SPG Event of Default under Article13.1,DISCOMshallhavetherighttodelivertotheSPG,withacopytotherepresent ative of the lenders to the SPG with whom the SPG has executed theFinancing Agreements, a notice stating its intention to terminate this Agreement(DISCOM Preliminary Default Notice), which shall specify in reasonable detail, thecircumstances giving risetothe issueofsuchnotice and calling upon the SPG to remedy the same. Where a “Default Notice” has been issued with respect to an Event of Default, which requires the co-operation of both DISCOM and the SPG to remedy, DISCOM shall render all reasonable co-operation to enable the Event of Default to be remedied without any legal obligations. Upon being in default on account of failure to commission the project within Scheduled Commercial Operation Date, the SPG shall be liable to pay liquidated damages as per Article