Sale and Purchase of Electricity. 2.2.1 The Seller shall deliver and sell the Sold Electricity i.e. the Product(s) defined in Section 2.1 to the Buyer at the Delivery Point under the terms and conditions of this Agreement from the Start Date of Performance during the Term of the Agreement, and the Buyer shall accept and purchase the Sold Electricity i.e. the Product(s) defined in Section 2.1 from the Seller. The Buyer shall pay the Seller the Purchase Price defined in Section 2.1 as consideration for the Sold Electricity under the terms of pricing defined in Section 7.1 and the terms of payment defined in Section 7.2. 2.2.2 The Parties shall compile Schedules in accordance with the provisions of Section 2.2.1. The Buyer shall purchase and accept the electricity under the Schedule approved by MAVIR. The quantity of electricity approved by MAVIR means the electricity off-taken by Buyer at the Delivery Point according to the Schedule, which means, at the same time, the fact that the Electricity Sold by the Seller has been transferred. If the Parties do not agree on any deviation from the Schedule and it is not a consequence of Force Majeure: the Seller shall bear all risks involved in the scheduling and transmission to and delivery at the Delivery Point of the Sold Electricity, and shall be liable for the resulting or ensuing costs and charges and any loss of the Buyer. the Buyer shall bear all risks arisen in connection with the acceptance of the Sold Electricity at and from the Delivery Point, any failure to accept and the transmission thereof, and shall be liable for the resulting or ensuing costs and charges and any loss of the Seller.
Appears in 4 contracts
Samples: Power Purchase Agreement, Power Purchase Agreement, Power Purchase Agreement
