Common use of Satisfaction of Condition Precedent Clause in Contracts

Satisfaction of Condition Precedent. 2.8.3.1 The Conditions Precedents shall be fulfilled/ achieved within a period of twenty four (24) months from the Signature Date or such further period (upto a maximum of 180 days) as may be extended on account of Force Majeure under Clause 17 of this Agreement (“Condition Precedent Period”) The CPs set out in Clause 2,8,1 above shall be fulfilled to the satisfaction of Seller or waived by the Seller at its sole discretion in accordance with the option to be exercised by the Purchaser in the letter as per Schedule VII with regard to acceptance / surrender of supply of imported coal without affecting in any way the Seller’s obligations under this agreement. Within fifteen (15) days of achieving or waiving the CPs set out in Clause 2.8.1 as the case may be, the Seller shall issue a notice of satisfaction and notify to the Purchaser in writing. The Purchaser within fifteen (15) days from receipt of such notification shall issue a letter accepting the same. 2.8.3.2 The CPs set out in Clause 2.8.2. above shall be fulfilled to the satisfaction of the Seller or waived jointly by both the Parties in writing, as the case may be. Within fifteen (15) days of completion of achieving the CPs set out in Clause 2.8.2 the Purchaser shall issue a written notice of satisfaction and notify to Seller. The Seller within fifteen (15) days from receipt of such notification by Purchaser shall issue a letter accepting the same. 2.8.3.3 Notwithstanding the provisions of clause 2.8.3.1 above, at the request of the Purchaser, CIL may at its sole discretion extend the Condition Precedent Period. 2.8.3.4 If within the Condition Precedent Period, the Purchaser does not fulfill the Condition Precedent set out in clause 2.8.2 due to any reasons other than Force Majeure, or the said Condition Precedents in clause 2.8.2 have not been jointly waived by the parties in writing, the Seller shall have the right to forfeit the Security Deposit amount submitted by the Purchaser without any further notice to Purchaser.

Satisfaction of Condition Precedent. 2.8.3.1 2.5.3.1 The Conditions Precedents shall be fulfilled/ achieved within a period of twenty four ……… (24…) months from the Signature Date ……. day of ………. or such further period (upto a maximum of 180 days) as may be extended on account of Force Majeure under Clause 17 18 of this Agreement (“Condition Precedent Period”) ) 2.5.3.2 The CPs set out in Clause 2,8,1 2.5.1 above shall be fulfilled to the satisfaction of Seller or waived by the Seller at its sole discretion in accordance with the option to be exercised by the Purchaser in the letter as per Schedule VII with regard to acceptance / surrender of supply of imported coal without affecting in any way the Seller’s Sellers obligations under this agreement. Within fifteen (15) days of achieving or waiving waving the CPs set out in Clause 2.8.1 2.5.1 as the case may be, the Seller shall issue a notice of satisfaction and notify to the Purchaser in writing. The Purchaser within fifteen (15) days from receipt of such notification shall issue a letter accepting the same. 2.8.3.2 2.5.3.3 The CPs set out in Clause 2.8.22.5.2. above shall be fulfilled to the satisfaction of the Seller or waived jointly by both the Parties in writing, as the case may be. Within fifteen (15) days of completion of achieving the CPs set out in Clause 2.8.2 2.5.2 the Purchaser shall issue a written notice of satisfaction and notify to Seller. The Seller within fifteen (15) days from receipt of such notification by Purchaser shall issue a letter accepting the same. 2.8.3.3 2.5.3.4 Notwithstanding the provisions of clause 2.8.3.1 2.5.3.1 above, at the request of the Purchaser, CIL may at its sole discretion extend the Condition Precedent Period. 2.8.3.4 2.5.3.5 If within the Condition Precedent Period, the Purchaser does not fulfill the Condition Precedent set out in clause 2.8.2 2.5.2 due to any reasons other than Force Majeure, or the said Condition Precedents in clause 2.8.2 2.5.2 have not been jointly waived by the parties in writing, the Seller shall have the right to forfeit the Security Deposit and Financial Guarantee amount submitted by the Purchaser without any further notice to PurchaserPurchaser and to terminate the agreement. 2.5.3.6 In the event that any of the Seller’s Conditions Precedent stipulated in Clause 2.5.1 has not been satisfied or waived within the specified period the Purchaser by not less than thirty days notice in writing terminate this Agreement with no liability on the part of either Party, provided that the Purchaser shall not have the right to terminate this Agreement under this Article so long as the Seller offers to supply the Contracted Quantity from the Mine or from the Alternate Source(s) or a combination of both

Satisfaction of Condition Precedent. 2.8.3.1 The Conditions Precedents shall be fulfilled/ achieved within a period of twenty four (24) months from the Signature Date or such further period (upto a maximum of 180 days) as may be extended on account of Force Majeure under Clause 17 of this Agreement (“Condition Precedent Period”) The CPs set out in Clause 2,8,1 2.8.1 above shall be fulfilled to the satisfaction of Seller or waived by the Seller at its sole discretion in accordance with the option to be exercised by the Purchaser in the letter as per Schedule VII with regard to acceptance / surrender of supply of imported coal without affecting in any way the Seller’s obligations under this agreement. Within fifteen (15) days of achieving or waiving the CPs set out in Clause 2.8.1 as the case may be, the Seller shall issue a notice of satisfaction and notify to the Purchaser in writing. The Purchaser within fifteen (15) days from receipt of such notification shall issue a letter accepting the same. 2.8.3.2 The CPs set out in Clause 2.8.2. 2.8.2 above shall be fulfilled to the satisfaction of the Seller or waived jointly by both the Parties in writing, as the case may be. Within fifteen (15) days of completion of achieving the CPs set out in Clause 2.8.2 the Purchaser shall issue a written notice of satisfaction and notify to Seller. The Seller within fifteen (15) days from receipt of such notification by Purchaser shall issue a letter accepting the same. 2.8.3.3 Notwithstanding the provisions of clause 2.8.3.1 above, at the request of the Purchaser, CIL may at its sole discretion extend the Condition Precedent Period. 2.8.3.4 If within the Condition Precedent Period, the Purchaser does not fulfill the Condition Precedent set out in clause 2.8.2 due to any reasons other than Force Majeure, or the said Condition Precedents in clause 2.8.2 have not been jointly waived by the parties in writing, the Seller shall have the right to forfeit the Security Deposit amount submitted by the Purchaser without any further notice to Purchaser. In case of FSAs applicable for more than 1 unit of a power plant, Security Deposit shall be forfeited in proportion to the number of units failed to achieve condition precedent.

Satisfaction of Condition Precedent. 2.8.3.1 The Conditions Precedents shall be fulfilled/ achieved within a period of twenty four (24) months from the Signature Date or such further period (upto up to a maximum of 180 days) as may be extended on account of Force Majeure under Clause 17 of this Agreement (“Condition Precedent Period”) The CPs set out in Clause 2,8,1 2.8.1 above shall be fulfilled to the satisfaction of Seller or waived by the Seller at its sole discretion in accordance with the option to be exercised by the Purchaser in the letter as per Schedule VII with regard to acceptance / surrender of supply of imported coal without affecting in any way the Seller’s obligations under this agreement. Within fifteen (15) days of achieving or waiving the CPs set out in Clause 2.8.1 as the case may be, the Seller shall issue a notice of satisfaction and notify to the Purchaser in writing. The Purchaser within fifteen (15) days from receipt of such notification shall issue a letter accepting the same. 2.8.3.2 The CPs set out in Clause 2.8.2. 2.8.2 above shall be fulfilled to the satisfaction of the Seller or waived jointly by both the Parties in writing, as the case may be. Within fifteen (15) days of completion of achieving the CPs set out in Clause 2.8.2 the Purchaser shall issue a written notice of satisfaction and notify to Seller. The Seller within fifteen (15) days from receipt of such notification by Purchaser shall issue a letter accepting the same. 2.8.3.3 Notwithstanding the provisions of clause 2.8.3.1 above, at the request of the Purchaser, CIL may at its sole discretion extend the Condition Precedent Period. 2.8.3.4 If within the Condition Precedent Period, the Purchaser does not fulfill the Condition Precedent set out in clause 2.8.2 due to any reasons other than Force Majeure, or the said Condition Precedents in clause 2.8.2 have not been jointly waived by the parties in writing, the Seller shall have the right to forfeit the Security Deposit amount submitted by the Purchaser without any further notice to Purchaser.. In case of FSAs applicable for more than 1 unit of a power plant, Security Deposit shall be forfeited in proportion to the number of units failed to achieve condition precedent

Satisfaction of Condition Precedent. 2.8.3.1 The Conditions Precedents shall be fulfilled/ achieved within a period of twenty four (24) months from the Signature Date or such further period (upto a maximum of 180 days) as may be extended on account of Force Majeure under Clause 17 of this Agreement (“Condition Precedent Period”) The CPs set out in Clause 2,8,1 2.8.1 above shall be fulfilled to the satisfaction of Seller or waived by the Seller at its sole discretion in accordance with the option to be exercised by the Purchaser in the letter as per Schedule VII with regard to acceptance / surrender of supply of imported coal without affecting in any way the Seller’s obligations under this agreement. Within fifteen (15) days of achieving or waiving the CPs set out in Clause 2.8.1 as the case may be, the Seller shall issue a notice of satisfaction and notify to the Purchaser in writing. The Purchaser within fifteen (15) days from receipt of such notification shall issue a letter accepting the same. 2.8.3.2 The CPs set out in Clause 2.8.2. 2.8.2 above shall be fulfilled to the satisfaction of the Seller or waived jointly by both the Parties in writing, as the case may be. Within fifteen (15) days of completion of achieving the CPs set out in Clause 2.8.2 the Purchaser shall issue a written notice of satisfaction and notify to Seller. The Seller within fifteen (15) days from receipt of such notification by Purchaser shall issue a letter accepting the same. 2.8.3.3 Notwithstanding the provisions provision of clause 2.8.3.1 above, at the request of the Purchaser, CIL the Seller may at its sole discretion extend the Condition Precedent Period. precedent Period maximum up to the period agreed for achieving Commissioning by the Purchaser within1March 20222 2.8.3.4 If within the Condition Precedent Period, the Purchaser does not fulfill the Condition Precedent set out in clause 2.8.2 due to any reasons other than Force Majeure, or the said Condition Precedents in clause 2.8.2 have not been jointly waived by the parties in writing, the Seller shall have the right to forfeit the Security Deposit amount submitted by the Purchaser without any further notice to Purchaser. In case of FSAs applicable for more than 1 unit of a power plant, Security Deposit shall be forfeited in proportion to the number of units failed to achieve condition precedent.

Satisfaction of Condition Precedent. (CP) 2.8.3.1 The Conditions Precedents shall be fulfilled/ achieved within a period of twenty four period of twelve (2412) months from the Signature Date or such further period (upto a maximum of 180 days) as may be extended on account of Force Majeure under Clause clause 17 of this Agreement Agreement. (“Condition Precedent Period”) ) 2.8.3.2 The CPs set out in Clause 2,8,1 2.8.1 above shall be fulfilled to the satisfaction of Seller or waived by the Seller at its sole discretion in accordance with the option to be exercised by the Purchaser in the letter as per Schedule VII with regard to acceptance / surrender of supply of imported coal without affecting in any way the Seller’s 's obligations under this agreement. Within fifteen (15) 15 days of achieving or waiving waving the CPs set out in Clause 2.8.1 2.8. 1. as the case may be, the Seller shall issue a notice of satisfaction and notify to the Purchaser in writing. The Purchaser within fifteen (15) 15 days from receipt of such notification shall issue a letter accepting the same. 2.8.3.2 2.8.3.3 The CPs set out in Clause 2.8.2. above shall be fulfilled to the satisfaction of the Seller or waived jointly by both the Parties in writing, as the case may be. Within fifteen (15) 15 days of completion of achieving the CPs set out in Clause 2.8.2 the Purchaser shall issue a written notice of satisfaction and notify to Seller. The Seller within fifteen (15) 15 days from receipt of such notification by Purchaser shall issue a letter accepting the same. 2.8.3.3 2.8.3.4 Notwithstanding the provisions of clause 2.8.3.1 above, at the request of the Purchaser, Purchaser CIL may at its sole discretion extend the Condition Precedent Period. 2.8.3.4 2.8.3.5 If within the Condition Precedent Period, the Purchaser does not fulfill the Condition Precedent set out in clause 2.8.2 due to any reasons other than Force Majeure, Majeure or the said Condition Precedents in clause 2.8.2 have not been jointly waived by the parties Parties in writing, the Seller shall have the right to forfeit the Security Deposit amount submitted by the Purchaser without any further notice to the Purchaser.