Common use of Satisfaction of conditions subsequent by the SPD Clause in Contracts

Satisfaction of conditions subsequent by the SPD. The SPD agrees and undertakes to duly perform and complete all of the following activities including Financial Closure at the SPD’s own cost and risk within 03 Months from the Effective Date of this agreement, unless such completion is affected by any Force Majeure event, or for the activities specifically waived in writing by JDA: a) The SPDs shall report tie-up of Financing Arrangements for the Projects. In this regard, the SPD shall submit a certificate/ necessary documents from all financing agencies regarding the tie-up of 100% of the funds indicated for the Project, including arrangements of funds in the form of Equity. The SPD will have to submit the required documents to SECI/JDA at least 15 (Fifteen) days prior to the scheduled Financial Closure date. In case of delay in submission of documents mentioned above, SECI shall not be liable for delay in verification of documents and subsequent delay in Financial Closure.

Satisfaction of conditions subsequent by the SPD. The SPD agrees and undertakes to duly perform and complete all of the following activities including Financial Closure at the SPD’s own cost and risk within 03 Months 12Months from the Effective Date of this agreementAgreement, unless such completion is affected by any Force Majeure event, or for the activities specifically waived in writing by JDAMANIREDA/MSPDCL: a) The SPDs shall report tie-up of Financing Arrangements for the Projects. In this regard, the SPD shall submit a certificate/ necessary documents from all financing agencies regarding the tie-up of 100% of the funds indicated for the Project, including arrangements of funds in the form of Equity. The SPD will have to submit the required documents to SECIMANIREDA/JDA MSPDCL at least 15 (Fifteen) days prior to the scheduled Financial Closure date. In case of delay in submission of documents mentioned above, SECI MANIREDA/MSPDCL shall not be liable for delay in verification of documents and subsequent delay in Financial Closure.

Satisfaction of conditions subsequent by the SPD. The SPD agrees and undertakes to duly perform and complete all of the following activities including Financial Closure at the SPD’s own cost and risk within 03 12 Months from the Effective Date of this agreementAgreement, unless such completion is affected by any Force Majeure event, or for the activities specifically waived in writing by JDAMANIREDA/MSPDCL: a) The SPDs shall report tie-up of Financing Arrangements for the Projects. In this regard, the SPD shall submit a certificate/ necessary documents from all financing agencies regarding the tie-up of 100% of the funds indicated for the Project, including arrangements of funds in the form of Equity. The SPD will have to submit the required documents to SECIMANIREDA/JDA MSPDCL at least 15 (Fifteen) days prior to the scheduled Financial Closure date. In case of delay in submission of documents mentioned above, SECI MANIREDA/MSPDCL shall not be liable for delay in verification of documents and subsequent delay in Financial Closure.

Satisfaction of conditions subsequent by the SPD. The SPD agrees and undertakes to duly perform and complete all of the following activities including Financial Closure at the SPD’s own cost and risk within 03 Months r 12Months from the Effective Date of this agreementAgreement, unless such completion is affected by any Force Majeure event, or for the activities specifically waived in writing by JDAMANIREDA/MSPDCL: a) The SPDs shall report tie-up of Financing Arrangements for the Projects. In this regard, the SPD shall submit a certificate/ necessary documents from all financing agencies regarding the tie-up of 100% of the funds indicated for the Project, including arrangements of funds in the form of Equity. The SPD will have to submit the required documents to SECIMANIREDA/JDA MSPDCL at least 15 (Fifteen) days prior to the scheduled Financial Closure date. In case of delay in submission of documents mentioned above, SECI MANIREDA/MSPDCL shall not be liable for delay in verification of documents and subsequent delay in Financial Closure.