Quarterly and Annual Reconciliation. 9.6.1 The Parties acknowledge that all payments made against Monthly Bills and Supplementary Bills shall be subject to quarterly reconciliation within 30 (thirty) days of the end of the quarter at the beginning of the following quarter of each Contract Year and annual reconciliation at the end of each Contract Year within 30 (thirty) days to take into account the energy accounts, Tariff adjustment payments, Rebate, Late Payment Surcharge, or any other reasonable circumstance provided under this PPA. 9.6.2 The Parties, therefore, agree that as soon as all such data in respect of any quarter of a Contract Year or a full Contract Year, as the case may be, has been finally verified and adjusted, the SPV and MSEDCL shall jointly sign such reconciliation statement. Within 15 (fifteen) days of signing of a reconciliation statement, the SPV shall make appropriate adjustments in the next Monthly Bill.
Appears in 18 contracts
Samples: Power Purchase Agreement, Power Purchase Agreement, Power Purchase Agreement
