Common use of Relief for Change in Law Clause in Contracts

Relief for Change in Law. 12.2.1 Save and except as provided under Article 12.1.3, the aggrieved Party shall be required to approach the Hon’ble CERC for seeking approval of Change in Law. 12.2.2 The decision of the Hon’ble CERC to acknowledge a Change in Law and the date from which it will become effective, provide relief for the same, shall be final and governing on SPD and Buying Entity. 12.2.3 In case of Change in Law as approved by the Appropriate Commission pursuant to Article 12.2.1 or as provided under Article 12.1.3, the SPD/ SECI/ Buying Entities (as the case may be) shall be entitled for relief as follows: Any such change, shall be considered upto three digits after the decimal point, and remaining digits, if any, shall be ignored. For e.g. in case the change in tariff payable is calculated as Rs. 0.14678/kWh, it shall be modified as Rs. 0.146/kWh. 12.2.4 In case Change in Law results in delay in commissioning or supply of power, where cause and effect between these two can be clearly established, the SECI under intimation to the Buying Entities may provide suitable time-extension in Scheduled Commissioning Date or Scheduled Date of Commencement of Supply of Power, as the case may be. 12.2.5 It the event of any decrease in the project cost by the SPD or any income to the SPD on account of any of the events as indicated above, SPD shall pass on the benefit of such reduction at a rate as provided in Article 12.2.3 to SECI which shall be further passed on to the Buying Entity. In the event of the SPD failing to comply with the above requirement, SECI shall make such deductions in the monthly tariff payments on immediate basis,. Further, at the time of raising of 1st Monthly Tariff Payment Xxxx, SPD shall be required to provide a statutory auditor certificate supported by Board Resolution in regard to implications (loss/ gain) arising out of Article 12.

Relief for Change in Law. 12.2.1 Save and except as provided under Article 12.1.3, the aggrieved Party shall be required to approach the Hon’ble CERC Appropriate Commission for seeking approval of Change in Law. 12.2.2 The decision of the Hon’ble CERC Appropriate Commission to acknowledge a Change in Law and the date from which it will become effective, provide relief for the same, shall be final and governing on SPD and Buying Entity. 12.2.3 In case of Change in Law as approved by the Appropriate Commission pursuant to Article 12.2.1 or as provided under Article 12.1.3, the SPD/ SECI/ Buying Entities Entity (as the case may be) shall be entitled for relief as follows: Any such change, shall be considered upto three digits after the decimal point, and remaining digits, if any, shall be ignored. For e.g. in case the change in tariff payable is calculated as Rs. 0.14678/kWh, it shall be modified as Rs. 0.146/kWh. 12.2.4 In case Change in Law results in delay in commissioning or supply of power, where cause and effect between these two can be clearly established, the SECI under intimation to the Buying Entities Entity may provide suitable time-extension in Scheduled Commissioning Date or Scheduled Date of Commencement of Supply of Power, as the case may be. 12.2.5 It In the event of any decrease in the project cost by the SPD or any income to the SPD on account of any of the events as indicated above, SPD shall pass on the benefit of such reduction at a rate as provided in Article 12.2.3 to SECI the Buying Entity which shall be further passed on to the Buying Entity. In the event of the SPD failing to comply with the above requirement, SECI the Buying Entity shall make such deductions in the monthly tariff payments on immediate basis,. Further, at the time of raising of 1st Monthly Tariff Payment Xxxx, SPD shall be required to provide a statutory auditor certificate supported by Board Resolution in regard to implications (loss/ gain) arising out of Article 12.

Relief for Change in Law. 12.2.1 Save and except as provided under Article 12.1.3, the aggrieved Party shall be required to approach the Hon’ble CERC Appropriate Commission for seeking approval of Change in Law. 12.2.2 The decision of the Hon’ble CERC Appropriate Commission to acknowledge a Change in Law and the date from which it will become effective, provide relief for the same, shall be final and governing on SPD and Buying Entity. 12.2.3 In case of Change in Law as approved by the Appropriate Commission pursuant to Article 12.2.1 or as provided under Article 12.1.3, the SPD/ SECI/ Buying Entities Entity (as the case may be) shall be entitled for relief as follows: Any such change, shall be considered upto three digits after the decimal point, and remaining digits, if any, shall be ignored. For e.g. in case the change in tariff payable is calculated as Rs. 0.14678/kWh, it shall be modified as Rs. 0.146/kWh. 12.2.4 In case Change in Law results in delay in commissioning or supply of power, where cause and effect between these two can be clearly established, the SECI under intimation to the Buying Entities Entity may provide suitable time-extension in Scheduled Commissioning Date or Scheduled Date of Commencement of Supply of Power, as the case may be. 12.2.5 It the event of any decrease in the project cost by the SPD or any income to the SPD on account of any of the events as indicated above, SPD shall pass on the benefit of such reduction at a rate as provided in Article 12.2.3 to SECI the Buying Entity which shall be further passed on to the Buying Entity. In the event of the SPD failing to comply with the above requirement, SECI the Buying Entity shall make such deductions in the monthly tariff payments on immediate basis,. Further, at the time of raising of 1st Monthly Tariff Payment Xxxx, SPD shall be required to provide a statutory auditor certificate supported by Board Resolution in regard to implications (loss/ gain) arising out of Article 12.

Relief for Change in Law. 12.2.1 Save and except as provided under Article 12.1.3, the aggrieved Party shall be required to approach the Hon’ble CERC for seeking approval of Change in Law. 12.2.2 The decision of the Hon’ble CERC to acknowledge a Change in Law and the date from which it will become effective, provide relief for the same, shall be final and governing on SPD and Buying Entity. 12.2.3 In case of Change in Law as approved by the Appropriate Commission pursuant to Article 12.2.1 or as provided under Article 12.1.3, the SPD/ SECI/ Buying Entities (as the case may be) shall be entitled for relief as follows: Any such change, shall be considered upto three digits after the decimal point, and remaining digits, if any, shall be ignored. For e.g. in case the change in tariff payable is calculated as Rs. 0.14678/kWh, it shall be modified as Rs. 0.146/kWh. 12.2.4 In case Change in Law results in delay in commissioning or supply of power, where cause and effect between these two can be clearly established, the SECI under intimation to the Buying Entities may provide suitable time-extension in Scheduled Commissioning Date or Scheduled Date of Commencement of Supply of Power, as the case may be. 12.2.5 It the event of any decrease in the project cost by the SPD or any income to the SPD on account of any of the events as indicated above, SPD shall pass on the benefit of such reduction at a rate as provided in Article 12.2.3 to SECI which shall be further passed on to the Buying Entity. In the event of the SPD failing to comply with the above requirement, SECI shall make such deductions in the monthly tariff payments on immediate basis,. Further, at the time of raising of 1st Monthly Tariff Payment Xxxx, SPD shall be required to provide a statutory auditor certificate supported by Board Resolution in regard to implications (loss/ gain) arising out of Article 12.

Relief for Change in Law. 12.2.1 Save and except as provided under Article 12.1.3, the The aggrieved Party shall be required to approach the Hon’ble CERC Central Electricity Regulatory Commission for seeking approval of Change in Law. 12.2.2 The decision of the Hon’ble CERC Central Electricity Regulatory Commission to acknowledge a Change in Law and the date from which it will become effective, provide relief for the same, shall be final and governing on SPD RPD and Buying EntityEntities. 12.2.3 In case of Change in Law Law/ Regulations as approved by the Appropriate Commission pursuant to Article 12.2.1 or as provided under Article 12.1.3, the SPD/ RPD/ SECI/ Buying Entities (as the case may be) shall be entitled for relief as follows: In regard to the thermal component, relief as granted by the Central Electricity Regulatory Commission shall be final and governing on RPD and Buying Entities. Any such change, shall be considered upto three digits after the decimal point, and remaining digits, if any, shall be ignored. For e.g. in case the change in tariff payable is calculated as Rs. 0.14678/kWh, it shall be modified as Rs. 0.146/kWh. 12.2.4 In case Change in Law results in delay in commissioning or supply of power, where cause and effect between these two can be clearly established, the SECI under intimation to the Buying Entities may provide suitable time-extension in Scheduled Commissioning Date or Scheduled Date of Commencement of Supply of Power, as the case may be. 12.2.5 It the event of any decrease in the project cost by the SPD RPD or any income to the SPD RPD on account of any of the events as indicated above, SPD RPD shall pass on the benefit of such reduction at a rate as provided in Article 12.2.3 to SECI which shall be further passed on to the Buying Entity. In the event of the SPD RPD failing to comply with the above requirement, SECI shall make such deductions in the monthly tariff payments on immediate basis,. Further, at the time of raising of 1st Monthly Tariff Payment Xxxx, SPD RPD shall be required to provide a statutory auditor certificate supported by Board Resolution in regard to implications (loss/ gain) arising out of Article 12.

Relief for Change in Law. 12.2.1 8.2.1 Save and except as provided under Article 12.1.38.1.3, the aggrieved Party shall be required to approach the Hon’ble CERC for seeking approval of Change in Law. 12.2.2 8.2.2 The decision of the Hon’ble CERC to acknowledge a Change in Law and the date from which it will become effective, provide relief for the same, shall be final and governing on SPD and Buying Entity. 12.2.3 8.2.3 In case of Change in Law as approved by the Appropriate Commission pursuant to Article 12.2.1 8.2.1 or as provided under Article 12.1.38.1.3, the SPD/ SECI/ Buying Entities (as the case may be) shall be entitled for relief as follows: Any such change, shall be considered upto three digits after the decimal point, and remaining digits, if any, shall be ignored. For e.g. in case the change in tariff payable is calculated as Rs. 0.14678/kWh, it shall be modified as Rs. 0.146/kWh. 12.2.4 8.2.4 In case Change in Law results in delay in commissioning or supply of power, where cause and effect between these two can be clearly established, the SECI under intimation to the Buying Entities may provide suitable time-extension in Scheduled Commissioning Date or Scheduled Date of Commencement of Supply of Power, as the case may be. 12.2.5 8.2.5 It the event of any decrease in the project cost by the SPD or any income to the SPD on account of any of the events as indicated above, SPD shall pass on the benefit of such reduction at a rate as provided in Article 12.2.3 8.2.3 to SECI which shall be further passed on to the Buying Entity. In the event of the SPD failing to comply with the above requirement, SECI shall make such deductions in the monthly tariff payments on immediate basis,. Further, at the time of raising of 1st Monthly Tariff Payment XxxxBill, SPD shall be required to provide a statutory auditor certificate supported by Board Resolution in regard to implications (loss/ gain) arising out of Article 128.

Relief for Change in Law. 12.2.1 Save and except as provided under Article 12.1.3, the aggrieved Party shall be required to approach the Hon’ble CERC Appropriate Commission for seeking approval of Change in Law. 12.2.2 The decision of the Hon’ble CERC Appropriate Commission to acknowledge a Change in Law and the date from which it will become effective, provide relief for the same, shall be final and governing on SPD and Buying Entity. 12.2.3 In case of Change in Law as approved by the Appropriate Commission pursuant to Article 12.2.1 or as provided under Article 12.1.3, the SPD/ SECI/ Buying Entities Entity (as the case may be) shall be entitled for relief as follows: Any such change, shall be considered upto three digits after the decimal point, and remaining digits, if any, shall be ignored. For e.g. in case the change in tariff payable is calculated as Rs. 0.14678/kWh, it shall be modified as Rs. 0.146/kWh. 12.2.4 In case Change in Law results in delay in commissioning or supply of power, where cause and effect between these two can be clearly established, the SECI under intimation to the Buying Entities Entity may provide suitable time-extension in Scheduled Commissioning Date or Scheduled Date of Commencement of Supply of Power, as the case may be. 12.2.5 It the event of any decrease in the project cost by the SPD or any income to the SPD on account of any of the events as indicated above, SPD shall pass on the benefit of such reduction at a rate as provided in Article 12.2.3 to SECI the Buying Entity which shall be further passed on to the Buying Entity. In the event of the SPD failing to comply with the above requirement, SECI the Buying Entity shall make such deductions in the monthly tariff payments on immediate basis,. Further, at the time of raising of 1st Monthly Tariff Payment XxxxBill, SPD shall be required to provide a statutory auditor certificate supported by Board Resolution in regard to implications (loss/ gain) arising out of Article 12.

Relief for Change in Law. 12.2.1 8.2.1 Save and except as provided under Article 12.1.38.1.3, the aggrieved Party shall be required to approach the Hon’ble CERC for seeking approval of Change in Law. 12.2.2 8.2.2 The decision of the Hon’ble CERC to acknowledge a Change in Law and the date from which it will become effective, provide relief for the same, shall be final and governing on SPD and Buying Entity. 12.2.3 8.2.3 In case of Change in Law as approved by the Appropriate Commission pursuant to Article 12.2.1 8.2.1 or as provided under Article 12.1.38.1.3, the SPD/ SECI/ Buying Entities (as the case may be) shall be entitled for relief as follows: Any such change, shall be considered upto three digits after the decimal point, and remaining digits, if any, shall be ignored. For e.g. in case the change in tariff payable is calculated as Rs. 0.14678/kWh, it shall be modified as Rs. 0.146/kWh. 12.2.4 8.2.4 In case Change in Law results in delay in commissioning or supply of power, where cause and effect between these two can be clearly established, the SECI under intimation to the Buying Entities may provide suitable time-extension in Scheduled Commissioning Date or Scheduled Date of Commencement of Supply of Power, as the case may be. 12.2.5 8.2.5 It the event of any decrease in the project cost by the SPD or any income to the SPD on account of any of the events as indicated above, SPD shall pass on the benefit of such reduction at a rate as provided in Article 12.2.3 8.2.3 to SECI which shall be further passed on to the Buying Entity. In the event of the SPD failing to comply with the above requirement, SECI shall make such deductions in the monthly tariff payments on immediate basis,. Further, at the time of raising of 1st Monthly Tariff Payment Xxxx, SPD shall be required to provide a statutory auditor certificate supported by Board Resolution in regard to implications (loss/ gain) arising out of Article 128.