Common use of SECI Event of Default Clause in Contracts

SECI Event of Default. 13.2.1 The occurrence and the continuation of any of the following events, unless any such event occurs as a result of a Force Majeure Event or a breach by the SPD of its obligations under this Agreement, shall constitute the Event of Default on the part of defaulting SECI: (i) SECI fails to pay (with respect to a Monthly Bill or a Supplementary Bill), subject to Article 10.5, for a period of ninety (90) days after the Due Date and the SPD is unable to recover the amount outstanding to the SPD through the Letter of Credit, (ii) SECI repudiates this Agreement and does not rectify such breach even within a period of sixty (60) days from a notice from the SPD in this regard; or (iii) except where due to any SPD’s failure to comply with its obligations, SECI is in material breach of any of its obligations pursuant to this Agreement, and such material breach is not rectified by SECI within sixty (60) days of receipt of notice in this regard from the SPD to SECI; or (iv) if • SECI becomes voluntarily or involuntarily the subject of any bankruptcy or insolvency or winding up proceedings and such proceedings remain uncontested for a period of sixty (60) days, or • any winding up or bankruptcy or insolvency order is passed against SECI, or • SECI goes into liquidation or dissolution or a receiver or any similar officer is appointed over all or substantially all of its assets or official liquidator is appointed to manage its affairs, pursuant to Law, provided that it shall not constitute a SECI Event of Default, where such dissolution or liquidation of Buyer or SECI is for the purpose of a merger, consolidation or reorganization and where the resulting entity has the financial standing to perform its obligations under this Agreement and has creditworthiness similar to SECI and expressly assumes all obligations of SECI and is in a position to perform them; or; (v) If Buying Entities are subject to any of the above defaults and SECI does not designate another or other Buying Entities for purchase of power. (vi) Occurrence of any other event which is specified in this Agreement to be a material breach or default of SECI.

SECI Event of Default. 13.2.1 The occurrence and the continuation of any of the following events, unless any such event occurs as a result of a Force Majeure Event or a breach by the SPD RPD of its obligations under this Agreement, shall constitute the Event of Default on the part of defaulting SECI: (i) SECI fails to pay (with respect to a Monthly Bill or a Supplementary Bill), subject to Article 10.5, for a period of ninety (90) days after the Due Date and the SPD RPD is unable to recover the amount outstanding to the SPD RPD through the Letter of Credit, (ii) SECI repudiates this Agreement and does not rectify such breach even within a period of sixty (60) days from a notice from the SPD RPD in this regard; or (iii) except where due to any SPDRPD’s failure to comply with its obligations, SECI is in material breach of any of its obligations pursuant to this Agreement, and such material breach is not rectified by SECI within sixty (60) days of receipt of notice in this regard from the SPD RPD to SECI; or (iv) if • SECI becomes voluntarily or involuntarily the subject of any bankruptcy or insolvency or winding up proceedings and such proceedings remain uncontested for a period of sixty (60) days, or • any winding up or bankruptcy or insolvency order is passed against SECI, or • SECI goes into liquidation or dissolution or a receiver or any similar officer is appointed over all or substantially all of its assets or official liquidator is appointed to manage its affairs, pursuant to Law, provided that it shall not constitute a SECI Event of Default, where such dissolution or liquidation of Buyer or SECI is for the purpose of a merger, consolidation or reorganization and where the resulting entity has the financial standing to perform its obligations under this Agreement and has creditworthiness similar to SECI and expressly assumes all obligations of SECI and is in a position to perform them; or; (v) If Buying Entities Entity(ies) are subject to any of the above defaults and SECI does not designate another or other Buying Entities Entity(ies) for purchase of power. (vi) Occurrence of any other event which is specified in this Agreement to be a material breach or default of SECI.

SECI Event of Default. 13.2.1 9.2.1 The occurrence and the continuation of any of the following events, unless any such event occurs as a result of a Force Majeure Event or a breach by the SPD of its obligations under this AgreementEvent, shall constitute the a SECI’s Event of Default on the part of defaulting SECIDefault: (i) SECI fails to pay (with respect supply power to a Monthly Bill or a Supplementary Bill), subject to Article 10.5, the Delivery Points for a continuous period of ninety (90) days after the Due Date and the SPD is unable to recover the amount outstanding to the SPD through the Letter of Credit,one year. (ii) SECI repudiates this Agreement and does not rectify such breach even within a period of sixty if (60a) days from a notice from the SPD in this regard; or (iii) except where due to any SPD’s failure to comply with its obligations, SECI is in material breach of any of its obligations pursuant to this Agreement, and such material breach is not rectified by SECI within sixty (60) days of receipt of notice in this regard from the SPD to SECI; or (iv) if • SECI becomes voluntarily or involuntarily the subject of any bankruptcy or insolvency or winding up proceedings and such proceedings remain uncontested for a period of sixty thirty (6030) days, or • (b) any winding up or bankruptcy or insolvency order is passed against the SECI, or • (c) the SECI goes into liquidation or dissolution or has a receiver or any similar officer is appointed over all or substantially all of its assets or official liquidator is appointed to manage its affairs, pursuant to Law, provided Provided that it shall a dissolution or liquidation of the SECI will not constitute be a SECI SECI’s Event of Default, where Default if such dissolution or liquidation of Buyer or SECI is for the purpose of a merger, consolidation or reorganization and where the resulting entity has the financial standing to perform its obligations under this Agreement and has company retains creditworthiness similar to the SECI and expressly assumes all obligations of the SECI under this Agreement and is in a position to perform them; or; (iii) SECI repudiates this Agreement and does not rectify such breach within a period of thirty (30) days from a notice from SECI in this regard; or (iv) except where due to any SECI’s failure to comply with its material obligations, the SECI is in breach of any of its material obligations pursuant to this Agreement, and such material breach is not rectified by the SECI within thirty (30) days of receipt of first notice in this regard given by the Buying Utility. (v) If Buying Entities are subject to any of the above defaults and SECI does not designate another or other Buying Entities for purchase of power. (vi) Occurrence occurrence of any other event which is specified in this Agreement to be a material breach or breach/ default of the SECI.

SECI Event of Default. 13.2.1 The occurrence and the continuation of any of the following events, unless any such event occurs as a result of a Force Majeure Event or a breach by the SPD of its obligations under this Agreement, shall constitute the Event of Default on the part of defaulting SECI: (i) SECI fails to pay (with respect to a Monthly Bill Xxxx or a Supplementary BillXxxx), subject to Article 10.5, for a period of ninety (90) days after the Due Date and the SPD is unable to recover the amount outstanding to the SPD through the Letter of Credit, (ii) SECI repudiates this Agreement and does not rectify such breach even within a period of sixty (60) days from a notice from the SPD in this regard; or (iii) except where due to any SPD’s failure to comply with its obligations, SECI is in material breach of any of its obligations pursuant to this Agreement, and such material breach is not rectified by SECI within sixty (60) days of receipt of notice in this regard from the SPD to SECI; or (iv) or if • SECI becomes voluntarily or involuntarily the subject of any bankruptcy or insolvency or winding up proceedings and such proceedings remain uncontested for a period of sixty (60) days, or • any winding up or bankruptcy or insolvency order is passed against SECI, or • SECI goes into liquidation or dissolution or a receiver or any similar officer is appointed over all or substantially all of its assets or official liquidator is appointed to manage its affairs, pursuant to Law, provided that it shall not constitute a SECI Event of Default, where such dissolution or liquidation of Buyer or SECI is for the purpose of a merger, consolidation or reorganization and where the resulting entity has the financial standing to perform its obligations under this Agreement and has creditworthiness similar to SECI and expressly assumes all obligations of SECI and is in a position to perform them; or; (viv) If Buying Entities are subject to any of the above defaults and SECI does not designate another or other Buying Entities for purchase of power. (viv) Occurrence of any other event which is specified in this Agreement to be a material breach or default of SECI.

SECI Event of Default. 13.2.1 The occurrence and the continuation of any of the following events, unless any such event occurs as a result of a Force Majeure Event or a breach by the SPD WPD of its obligations under this Agreement, shall constitute the Event of Default on the part of defaulting SECI: (i) SECI fails to pay (with respect to a Monthly Bill Xxxx or a Supplementary BillXxxx), subject to Article 10.5, for a period of ninety (90) days after the Due Date and the SPD WPD is unable to recover the amount outstanding to the SPD WPD through the Letter of Credit, (ii) SECI repudiates this Agreement and does not rectify such breach even within a period of sixty (60) days from a notice from the SPD WPD in this regard; or (iii) except where due to any SPDWPD’s failure to comply with its obligations, SECI is in material breach of any of its obligations pursuant to this Agreement, and such material breach is not rectified by SECI within sixty (60) days of receipt of notice in this regard from the SPD WPD to SECI; or (iv) or if • SECI becomes voluntarily or involuntarily the subject of any bankruptcy or insolvency or winding up proceedings and such proceedings remain uncontested for a period of sixty (60) days, or • any winding up or bankruptcy or insolvency order is passed against SECI, or • SECI goes into liquidation or dissolution or a receiver or any similar officer is appointed over all or substantially all of its assets or official liquidator is appointed to manage its affairs, pursuant to Law, provided that it shall not constitute a SECI Event of Default, where such dissolution or liquidation of Buyer or SECI is for the purpose of a merger, consolidation or reorganization and where the resulting entity has the financial standing to perform its obligations under this Agreement and has creditworthiness similar to SECI and expressly assumes all obligations of SECI and is in a position to perform them; or; (viv) If Buying Entities are subject to any of the above defaults and SECI does not designate another or other Buying Entities for purchase of power. (viv) Occurrence of any other event which is specified in this Agreement to be a material breach or default of SECI.

SECI Event of Default. 13.2.1 The occurrence and the continuation of any of the following events, unless any such event occurs as a result of a Force Majeure Event or a breach by the SPD HPD of its obligations under this Agreement, shall constitute the Event of Default on the part of defaulting SECI: (i) SECI fails to pay (with respect to a Monthly Bill Xxxx or a Supplementary BillXxxx), subject to Article 10.5, for a period of ninety (90) days after the Due Date and the SPD HPD is unable to recover the amount outstanding to the SPD HPD through the Letter of Credit, (ii) SECI repudiates this Agreement and does not rectify such breach even within a period of sixty (60) days from a notice from the SPD HPD in this regard; or (iii) except where due to any SPDHPD’s failure to comply with its obligations, SECI is in material breach of any of its obligations pursuant to this Agreement, and such material breach is not rectified by SECI within sixty (60) days of receipt of notice in this regard from the SPD HPD to SECI; or (iv) or if • SECI becomes voluntarily or involuntarily the subject of any bankruptcy or insolvency or winding up proceedings and such proceedings remain uncontested for a period of sixty (60) days, or • any winding up or bankruptcy or insolvency order is passed against SECI, or • SECI goes into liquidation or dissolution or a receiver or any similar officer is appointed over all or substantially all of its assets or official liquidator is appointed to manage its affairs, pursuant to Law, provided that it shall not constitute a SECI Event of Default, where such dissolution or liquidation of Buyer or SECI is for the purpose of a merger, consolidation or reorganization and where the resulting entity has the financial standing to perform its obligations under this Agreement and has creditworthiness similar to SECI and expressly assumes all obligations of SECI and is in a position to perform them; or; (viv) If Buying Entities are subject to any of the above defaults and SECI does not designate another or other Buying Entities for purchase of power. (viv) Occurrence of any other event which is specified in this Agreement to be a material breach or default of SECI.

SECI Event of Default. 13.2.1 The occurrence and the continuation of any of the following events, unless any such event occurs as a result of a Force Majeure Event or a breach by the SPD of its obligations under this Agreement, shall constitute the Event of Default on the part of defaulting SECI: (i) SECI fails to pay (with respect to a Monthly Bill Xxxx or a Supplementary BillXxxx), subject to Article 10.5, for a period of ninety (90) days after the Due Date and the SPD is unable to recover the amount outstanding to the SPD through the Letter of Credit, (ii) SECI repudiates this Agreement and does not rectify such breach even within a period of sixty (60) days from a notice from the SPD in this regard; or (iii) except where due to any SPD’s failure to comply with its obligations, SECI is in material breach of any of its obligations pursuant to this Agreement, and such material breach is not rectified by SECI within sixty (60) days of receipt of notice in this regard from the SPD to SECI; or (iv) or if • SECI becomes voluntarily or involuntarily the subject of any bankruptcy or insolvency or winding up proceedings and such proceedings remain uncontested for a period of sixty (60) days, or • any winding up or bankruptcy or insolvency order is passed against SECI, or • SECI goes into liquidation or dissolution or a receiver or any similar officer is appointed over all or substantially all of its assets or official liquidator is appointed to manage its affairs, pursuant to Law, provided that it shall not constitute a SECI Event of Default, where such dissolution or liquidation of Buyer SECI or SECI is for the purpose of a merger, consolidation or reorganization and where the resulting entity has the financial standing to perform its obligations under this Agreement and has creditworthiness similar to SECI and expressly assumes all obligations of SECI and is in a position to perform them; or; (viv) If Buying Entities are subject to any of the above defaults and SECI does not designate another or other Buying Entities for purchase of power. (viv) Occurrence of any other event which is specified in this Agreement to be a material breach or default of SECI.

SECI Event of Default. 13.2.1 9.2.1 The occurrence and the continuation of any of the following events, unless any such event occurs as a result of a Force Majeure Event or a breach by the SPD of its obligations under this AgreementEvent, shall constitute the a SECI’s Event of Default on the part of defaulting SECIDefault: (i) SECI fails to pay (with respect supply power to a Monthly Bill or a Supplementary Bill), subject to Article 10.5, the Delivery Points for a continuous period of ninety (90) days after the Due Date and the SPD is unable to recover the amount outstanding to the SPD through the Letter of Credit,one year. (ii) SECI repudiates this Agreement and does not rectify such breach even within a period of sixty if (60a) days from a notice from the SPD in this regard; or (iii) except where due to any SPD’s failure to comply with its obligations, SECI is in material breach of any of its obligations pursuant to this Agreement, and such material breach is not rectified by SECI within sixty (60) days of receipt of notice in this regard from the SPD to SECI; or (iv) if • SECI becomes voluntarily or involuntarily the subject of any bankruptcy or insolvency or winding up proceedings and such proceedings remain uncontested for a period of sixty thirty (6030) days, or • (b) any winding up or bankruptcy or insolvency order is passed against the SECI, or • (c) the SECI goes into liquidation or dissolution or has a receiver or any similar officer is appointed over all or substantially all of its assets or official liquidator is appointed to manage its affairs, pursuant to Law, provided Provided that it shall a dissolution or liquidation of the SECI will not constitute be a SECI SECI’s Event of Default, where Default if such dissolution or liquidation of Buyer or SECI is for the purpose of a merger, consolidation or reorganization and where the resulting entity has the financial standing to perform its obligations under this Agreement and has company retains creditworthiness similar to the SECI and expressly assumes all obligations of the SECI under this Agreement and is in a position to perform them; or; (iii) the SECI repudiates this Agreement and does not rectify such breach within a period of thirty (30) days from a notice from SECI in this regard; or (iv) except where due to any SECI’s failure to comply with its material obligations, the SECI is in breach of any of its material obligations pursuant to this Agreement, and such material breach is not rectified by the SECI within thirty (30) days of receipt of first notice in this regard given by the Buying Utility. (v) If Buying Entities are subject to any of the above defaults and SECI does not designate another or other Buying Entities for purchase of power. (vi) Occurrence occurrence of any other event which is specified in this Agreement to be a material breach or breach/ default of the SECI.

SECI Event of Default. 13.2.1 The occurrence and the continuation of any of the following events, unless any such event occurs as a result of a Force Majeure Event or a breach by the SPD HPD of its obligations under this Agreement, shall constitute the Event of Default on the part of defaulting SECI: (i) SECI fails to pay (with respect to a Monthly Bill or a Supplementary Bill), subject to Article 10.5, for a period of ninety (90) days after the Due Date and the SPD HPD is unable to recover the amount outstanding to the SPD HPD through the Letter of Credit, (ii) SECI repudiates this Agreement and does not rectify such breach even within a period of sixty (60) days from a notice from the SPD HPD in this regard; or (iii) except where due to any SPDHPD’s failure to comply with its obligations, SECI is in material breach of any of its obligations pursuant to this Agreement, and such material breach is not rectified by SECI within sixty (60) days of receipt of notice in this regard from the SPD HPD to SECI; or (iv) or if • SECI becomes voluntarily or involuntarily the subject of any bankruptcy or insolvency or winding up proceedings and such proceedings remain uncontested for a period of sixty (60) days, or • any winding up or bankruptcy or insolvency order is passed against SECI, or • SECI goes into liquidation or dissolution or a receiver or any similar officer is appointed over all or substantially all of its assets or official liquidator is appointed to manage its affairs, pursuant to Law, provided that it shall not constitute a SECI Event of Default, where such dissolution or liquidation of Buyer or SECI is for the purpose of a merger, consolidation or reorganization and where the resulting entity has the financial standing to perform its obligations under this Agreement and has creditworthiness similar to SECI and expressly assumes all obligations of SECI and is in a position to perform them; or; (viv) If Buying Entities are subject to any of the above defaults and SECI does not designate another or other Buying Entities for purchase of power. (viv) Occurrence of any other event which is specified in this Agreement to be a material breach or default of SECI.

SECI Event of Default. 13.2.1 The occurrence and the continuation of any of the following events, unless any such event occurs as a result of a Force Majeure Event or a breach by the SPD WPD of its obligations under this Agreement, shall constitute the Event of Default on the part of defaulting SECI: (i) SECI fails to pay (with respect to a Monthly Bill or a Supplementary Bill), subject to Article 10.5, for a period of ninety (90) days after the Due Date and the SPD WPD is unable to recover the amount outstanding to the SPD WPD through the Letter of Credit, (ii) SECI repudiates this Agreement and does not rectify such breach even within a period of sixty (60) days from a notice from the SPD WPD in this regard; or (iii) except where due to any SPDWPD’s failure to comply with its obligations, SECI is in material breach of any of its obligations pursuant to this Agreement, and such material breach is not rectified by SECI within sixty (60) days of receipt of notice in this regard from the SPD WPD to SECI; or (iv) if • SECI becomes voluntarily or involuntarily the subject of any bankruptcy or insolvency or winding up proceedings and such proceedings remain uncontested for a period of sixty (60) days, or • any winding up or bankruptcy or insolvency order is passed against SECI, or • SECI goes into liquidation or dissolution or a receiver or any similar officer is appointed over all or substantially all of its assets or official liquidator is appointed to manage its affairs, pursuant to Law, provided that it shall not constitute a SECI Event of Default, where such dissolution or liquidation of Buyer or SECI is for the purpose of a merger, consolidation or reorganization and where the resulting entity has the financial standing to perform its obligations under this Agreement and has creditworthiness similar to SECI and expressly assumes all obligations of SECI and is in a position to perform them; or; (v) If Buying Entities are subject to any of the above defaults and SECI does not designate another or other Buying Entities for purchase of power. (vi) Occurrence of any other event which is specified in this Agreement to be a material breach or default of SECI.

SECI Event of Default. 13.2.1 The occurrence and the continuation of any of the following events, unless any such event occurs as a result of a Force Majeure Event or a breach by the SPD of its obligations under this AgreementEvent, shall constitute the a SECI’s Event of Default on the part of defaulting SECIDefault: (i) SECI fails to pay (with respect supply power to a Monthly Bill or a Supplementary Bill), subject to Article 10.5, the Delivery Points for a continuous period of ninety (90) days after the Due Date and the SPD is unable to recover the amount outstanding to the SPD through the Letter of Credit,one year. (ii) SECI repudiates this Agreement and does not rectify such breach even within a period of sixty if (60a) days from a notice from the SPD in this regard; or (iii) except where due to any SPD’s failure to comply with its obligations, SECI is in material breach of any of its obligations pursuant to this Agreement, and such material breach is not rectified by SECI within sixty (60) days of receipt of notice in this regard from the SPD to SECI; or (iv) if • SECI becomes voluntarily or involuntarily the subject of any bankruptcy or insolvency or winding up proceedings and such proceedings remain uncontested for a period of sixty thirty (6030) days, or • (b) any winding up or bankruptcy or insolvency order is passed against the SECI, or • (c) the SECI goes into liquidation or dissolution or has a receiver or any similar officer is appointed over all or substantially all of its assets or official liquidator is appointed to manage its affairs, pursuant to Law, provided Provided that it shall a dissolution or liquidation of the SECI will not constitute be a SECI SECI’s Event of Default, where Default if such dissolution or liquidation of Buyer or SECI is for the purpose of a merger, consolidation or reorganization and where the resulting entity has the financial standing to perform its obligations under this Agreement and has company retains creditworthiness similar to the SECI and expressly assumes all obligations of the SECI under this Agreement and is in a position to perform them; or; (iii) SECI repudiates this Agreement and does not rectify such breach within a period of thirty (30) days from a notice from SECI in this regard; or (iv) except where due to any SECI’s failure to comply with its material obligations, the SECI is in breach of any of its material obligations pursuant to this Agreement, and such material breach is not rectified by the SECI within thirty (30) days of receipt of first notice in this regard given by the Buying Utility. (v) If Buying Entities are subject to any of the above defaults and SECI does not designate another or other Buying Entities for purchase of power. (vi) Occurrence occurrence of any other event which is specified in this Agreement to be a material breach or breach/ default of the SECI.

SECI Event of Default. 13.2.1 The occurrence and the continuation of any of the following events, unless any such event occurs as a result of a Force Majeure Event or a breach by the SPD of its obligations under this Agreement, shall constitute the Event of Default on the part of defaulting SECI: (i) SECI fails to pay (with respect to a Monthly Bill or a Supplementary Bill), subject to Article 10.5, for a period of ninety (90) days after the Due Date and the SPD is unable to recover the amount outstanding to the SPD through the Letter of CreditCredit/ Default Escrow Account, (ii) SECI repudiates this Agreement and does not rectify such breach even within a period of sixty thirty (6030) days from a notice from the SPD in this regard; or (iii) except where due to any SPD’s failure to comply with its obligations, SECI is in material breach of any of its obligations pursuant to this Agreement, and such material breach is not rectified by SECI within sixty thirty (6030) days of receipt of notice in this regard from the SPD to SECI; or (iv) or if • SECI becomes voluntarily or involuntarily the subject of any bankruptcy or insolvency or winding up proceedings and such proceedings remain uncontested for a period of sixty thirty (6030) days, or • any winding up or bankruptcy or insolvency order is passed against SECI, or • SECI goes into liquidation or dissolution or a receiver or any similar officer is appointed over all or substantially all of its assets or official liquidator is appointed to manage its affairs, pursuant to Law, provided Provided that it shall not constitute a SECI Event of Default, where such dissolution or liquidation of Buyer SECI or SECI is for the purpose of a merger, consolidation or reorganization and where the resulting entity has the financial standing to perform its obligations under this Agreement and has creditworthiness similar to SECI and expressly assumes all obligations of SECI and is in a position to perform them; or; (viv) If Buying Entities Utilities are subject to any of the above defaults and SECI does not designate another or other Buying Entities Utilities for purchase of powerPower. (viv) Occurrence of any other event which is specified in this Agreement to be a material breach or default of SECI.

SECI Event of Default. 13.2.1 The occurrence and the continuation of any of the following events, unless any such event occurs as a result of a Force Majeure Event or a breach by the SPD of its obligations under this Agreement, shall constitute the Event of Default on the part of defaulting SECI: (i) SECI fails to pay (with respect to a Monthly Bill or a Supplementary Bill), subject to Article 10.5, for a period of ninety (90) days after the Due Date and the SPD is unable to recover the amount outstanding to the SPD through the Letter of CreditCredit/ Default Escrow Account, (ii) SECI repudiates this Agreement and does not rectify such breach even within a period of sixty thirty (6030) days from a notice from the SPD in this regard; or (iii) except where due to any SPD’s SPD‟s failure to comply with its obligations, SECI is in material breach of any of its obligations pursuant to this Agreement, and such material breach is not rectified by SECI within sixty thirty (6030) days of receipt of notice in this regard from the SPD to SECI; or (iv) or if • SECI becomes voluntarily or involuntarily the subject of any bankruptcy or insolvency or winding up proceedings and such proceedings remain uncontested for a period of sixty thirty (6030) days, or • any winding up or bankruptcy or insolvency order is passed against SECI, or • SECI goes into liquidation or dissolution or a receiver or any similar officer is appointed over all or substantially all of its assets or official liquidator is appointed to manage its affairs, pursuant to Law, provided Provided that it shall not constitute a SECI Event of Default, where such dissolution or liquidation of Buyer SECI or SECI is for the purpose of a merger, consolidation or reorganization and where the resulting entity has the financial standing to perform its obligations under this Agreement and has creditworthiness similar to SECI and expressly assumes all obligations of SECI and is in a position to perform them; or; (viv) If Buying Entities Utilities are subject to any of the above defaults and SECI does not designate another or other Buying Entities Utilities for purchase of powerPower. (viv) Occurrence of any other event which is specified in this Agreement to be a material breach or default of SECI.

SECI Event of Default. 13.2.1 The occurrence and the continuation of any of the following events, unless any such event occurs as a result of a Force Majeure Event or a breach by the SPD RPD of its obligations under this Agreement, shall constitute the Event of Default on the part of defaulting SECI: (i) SECI fails to pay (with respect to a Monthly Bill Xxxx or a Supplementary BillXxxx), subject to Article 10.5, for a period of ninety (90) days after the Due Date and the SPD RPD is unable to recover the amount outstanding to the SPD RPD through the Letter of Credit, (ii) SECI repudiates this Agreement and does not rectify such breach even within a period of sixty (60) days from a notice from the SPD RPD in this regard; or (iii) except where due to any SPDRPD’s failure to comply with its obligations, SECI is in material breach of any of its obligations pursuant to this Agreement, and such material breach is not rectified by SECI within sixty (60) days of receipt of notice in this regard from the SPD RPD to SECI; or (iv) if • SECI becomes voluntarily or involuntarily the subject of any bankruptcy or insolvency or winding up proceedings and such proceedings remain uncontested for a period of sixty (60) days, or • any winding up or bankruptcy or insolvency order is passed against SECI, or • SECI goes into liquidation or dissolution or a receiver or any similar officer is appointed over all or substantially all of its assets or official liquidator is appointed to manage its affairs, pursuant to Law, provided that it shall not constitute a SECI Event of Default, where such dissolution or liquidation of Buyer or SECI is for the purpose of a merger, consolidation or reorganization and where the resulting entity has the financial standing to perform its obligations under this Agreement and has creditworthiness similar to SECI and expressly assumes all obligations of SECI and is in a position to perform them; or; (v) If Buying Entities Entity(ies) are subject to any of the above defaults and SECI does not designate another or other Buying Entities Entity(ies) for purchase of power. (vi) Occurrence of any other event which is specified in this Agreement to be a material breach or default of SECI.

SECI Event of Default. 13.2.1 The occurrence and the continuation of any of the following events, unless any such event occurs as a result of a Force Majeure Event or a breach by the SPD HPD of its obligations under this Agreement, shall constitute the Event of Default on the part of defaulting SECI: (i) SECI fails to pay (with respect to a Monthly Bill or a Supplementary BillXxxx), subject to Article 10.5, for a period of ninety (90) days after the Due Date and the SPD HPD is unable to recover the amount outstanding to the SPD HPD through the Letter of Credit, (ii) SECI repudiates this Agreement and does not rectify such breach even within a period of sixty (60) days from a notice from the SPD HPD in this regard; or (iii) except where due to any SPDHPD’s failure to comply with its obligations, SECI is in material breach of any of its obligations pursuant to this Agreement, and such material breach is not rectified by SECI within sixty (60) days of receipt of notice in this regard from the SPD HPD to SECI; or (iv) or if • SECI becomes voluntarily or involuntarily the subject of any bankruptcy or insolvency or winding up proceedings and such proceedings remain uncontested for a period of sixty (60) days, or • any winding up or bankruptcy or insolvency order is passed against SECI, or • SECI goes into liquidation or dissolution or a receiver or any similar officer is appointed over all or substantially all of its assets or official liquidator is appointed to manage its affairs, pursuant to Law, provided that it shall not constitute a SECI Event of Default, where such dissolution or liquidation of Buyer or SECI is for the purpose of a merger, consolidation or reorganization and where the resulting entity has the financial standing to perform its obligations under this Agreement and has creditworthiness similar to SECI and expressly assumes all obligations of SECI and is in a position to perform them; or; (viv) If Buying Entities are subject to any of the above defaults and SECI does not designate another or other Buying Entities for purchase of power. (viv) Occurrence of any other event which is specified in this Agreement to be a material breach or default of SECI.

SECI Event of Default. 13.2.1 The occurrence and the continuation of any of the following events, unless any such event occurs as a result of a Force Majeure Event or a breach by the SPD of its obligations under this Agreement, shall constitute the Event of Default on the part of defaulting SECI: (i) SECI fails to pay (with respect to a Monthly Bill Xxxx or a Supplementary BillXxxx), subject to Article 10.5, for a period of ninety (90) days after the Due Date and the SPD is unable to recover the amount outstanding to the SPD through the Letter of Credit, (ii) SECI repudiates this Agreement and does not rectify such breach even within a period of sixty thirty (6030) days from a notice from the SPD in this regard; or (iii) except where due to any SPD’s failure to comply with its obligations, SECI is in material breach of any of its obligations pursuant to this Agreement, and such material breach is not rectified by SECI within sixty thirty (6030) days of receipt of notice in this regard from the SPD to SECI; or (iv) or if • SECI becomes voluntarily or involuntarily the subject of any bankruptcy or insolvency or winding up proceedings and such proceedings remain uncontested for a period of sixty thirty (6030) days, or • any winding up or bankruptcy or insolvency order is passed against SECI, or • SECI goes into liquidation or dissolution or a receiver or any similar officer is appointed over all or substantially all of its assets or official liquidator is appointed to manage its affairs, pursuant to Law, provided Provided that it shall not constitute a SECI Event of Default, where such dissolution or liquidation of Buyer SECI or SECI is for the purpose of a merger, consolidation or reorganization and where the resulting entity has the financial standing to perform its obligations under this Agreement and has creditworthiness similar to SECI and expressly assumes all obligations of SECI and is in a position to perform them; or; (viv) If Buying Entities Utilities are subject to any of the above defaults and SECI does not designate another or other Buying Entities Utilities for purchase of powerPower. (viv) Occurrence of any other event which is specified in this Agreement to be a material breach or default of SECI.

SECI Event of Default. 13.2.1 The occurrence and the continuation of any of the following events, unless any such event occurs as a result of a Force Majeure Event or a breach by the SPD of its obligations under this Agreement, shall constitute the Event of Default on the part of defaulting SECI: (i) SECI fails to pay (with respect to a Monthly Bill or a Supplementary Bill), subject to Article 10.5, for a period of ninety (90) days after the Due Date and the SPD is unable to recover the amount outstanding to the SPD through the Letter of Credit, (ii) SECI repudiates this Agreement and does not rectify such breach even within a period of sixty (60) days from a notice from the SPD in this regard; or (iii) except where due to any SPD’s failure to comply with its obligations, SECI is in material breach of any of its obligations pursuant to this Agreement, and such material breach is not rectified by SECI within sixty (60) days of receipt of notice in this regard from the SPD to SECI; or (iv) or if • SECI becomes voluntarily or involuntarily the subject of any bankruptcy or insolvency or winding up proceedings and such proceedings remain uncontested for a period of sixty (60) days, or • any winding up or bankruptcy or insolvency order is passed against SECI, or • SECI goes into liquidation or dissolution or a receiver or any similar officer is appointed over all or substantially all of its assets or official liquidator is appointed to manage its affairs, pursuant to Law, provided that it shall not constitute a SECI Event of Default, where such dissolution or liquidation of Buyer or SECI is for the purpose of a merger, consolidation or reorganization and where the resulting entity has the financial standing to perform its obligations under this Agreement and has creditworthiness similar to SECI and expressly assumes all obligations of SECI and is in a position to perform them; or; (viv) If Buying Entities are subject to any of the above defaults and SECI does not designate another or other Buying Entities for purchase of power. (viv) Occurrence of any other event which is specified in this Agreement to be a material breach or default of SECI.

SECI Event of Default. 13.2.1 The occurrence and the continuation of any of the following events, unless any such event occurs as a result of a Force Majeure Event or a breach by the SPD of its obligations under this Agreement, shall constitute the Event of Default on the part of defaulting SECI: (i) SECI fails to pay (with respect to a Monthly Bill Xxxx or a Supplementary BillXxxx), subject to Article 10.5, for a period of ninety (90) days after the Due Date and the SPD is unable to recover the amount outstanding to the SPD through the Letter of Credit, (ii) SECI repudiates this Agreement and does not rectify such breach even within a period of sixty (60) days from a notice from the SPD in this regard; or (iii) except where due to any SPD’s failure to comply with its obligations, SECI is in material breach of any of its obligations pursuant to this Agreement, and such material breach is not rectified by SECI S E C I within sixty (60) days of receipt of notice in this regard from the SPD to SECI; or (iv) if • SECI becomes voluntarily or involuntarily the subject of any bankruptcy or insolvency or winding up proceedings and such proceedings remain uncontested for a period of sixty (60) days, or • any winding up or bankruptcy or insolvency order is passed against SECI, or • SECI goes into liquidation or dissolution or a receiver or any similar officer is appointed over all or substantially all of its assets or official liquidator is appointed to manage its affairs, pursuant to Law, provided that it shall not constitute a SECI Event of Default, where such dissolution or liquidation of Buyer or SECI is for the purpose of a merger, consolidation or reorganization and where the resulting entity has the financial standing to perform its obligations under this Agreement and has creditworthiness similar to SECI and expressly assumes all obligations of SECI and is in a position to perform them; or; (viv) If Buying Entities are subject to any of the above defaults and SECI does not designate another or other Buying Entities for purchase of power. (viv) Occurrence of any other event which is specified in this Agreement to be a material breach or default of SECI.

SECI Event of Default. 13.2.1 The occurrence and the continuation of any of the following events, unless any such event occurs as a result of a Force Majeure Event or a breach by the SPD of its obligations under this AgreementEvent, shall constitute the a SECI’s Event of Default on the part of defaulting SECIDefault: (i) i. SECI fails to pay (with respect supply power to a Monthly Bill or a Supplementary Bill), subject to Article 10.5, the Delivery Points for a continuous period of ninety one year. ii. if (90a) days after the Due Date and the SPD is unable to recover the amount outstanding to the SPD through the Letter of Credit, (ii) SECI repudiates this Agreement and does not rectify such breach even within a period of sixty (60) days from a notice from the SPD in this regard; or (iii) except where due to any SPD’s failure to comply with its obligations, SECI is in material breach of any of its obligations pursuant to this Agreement, and such material breach is not rectified by SECI within sixty (60) days of receipt of notice in this regard from the SPD to SECI; or (iv) if • SECI becomes voluntarily or involuntarily the subject of any bankruptcy or insolvency or winding up proceedings and such proceedings remain uncontested for a period of sixty thirty (6030) days, or • (b) any winding up or bankruptcy or insolvency order is passed against the SECI, or • (c) the SECI goes into liquidation or dissolution or has a receiver or any similar officer is appointed over all or substantially all of its assets or official liquidator is appointed to manage its affairs, pursuant to Law, provided Provided that it shall a dissolution or liquidation of the SECI will not constitute be a SECI SECI’s Event of Default, where Default if such dissolution or liquidation of Buyer or SECI is for the purpose of a merger, consolidation or reorganization and where the resulting entity has the financial standing to perform its obligations under this Agreement and has company retains creditworthiness similar to the SECI and expressly assumes all obligations of the SECI under this Agreement and is in a position to perform them; or; iii. SECI repudiates this Agreement and does not rectify such breach even within a period of thirty (v30) If days from a notice from the Buying Entities are subject Entity in this regard; or iv. except where due to any Buying Entity’s failure to comply with its material obligations, the SECI is in breach of any of its material obligations pursuant to this Agreement, and such material breach is not rectified by the above defaults and SECI does not designate another or other within thirty (30) days of receipt of first notice in this regard given by the Buying Entities for purchase of powerEntity. (vi) v. Occurrence of any other event which is specified in this Agreement to be a material breach or default of SECI.

SECI Event of Default. 13.2.1 14.2.1 The occurrence and the continuation of any of the following events, unless any such event occurs as a result of a Force Majeure Event or a breach by the SPD GAP of its obligations under this Agreement, shall constitute the Event of Default on the part of defaulting SECI: (i) SECI fails to pay (with respect to a Monthly Bill or Periodic Bill or a Supplementary Bill), subject to Article 10.511.7, for a period of ninety (90) days after the Due Date and the SPD GAP is unable to recover the amount outstanding to the SPD GAP through the Letter of Credit, (ii) SECI repudiates this Agreement and does not rectify such breach even within a period of sixty (60) days from a notice from the SPD GAP in this regard; or (iii) except where due to any SPDGAP’s failure to comply with its obligations, SECI is in material breach of any of its obligations pursuant to this Agreement, and such material breach is not rectified by SECI within sixty (60) days of receipt of notice in this regard from the SPD GAP to SECI; or (iv) or if • SECI becomes voluntarily or involuntarily the subject of any bankruptcy or insolvency or winding up proceedings and such proceedings remain uncontested for a period of sixty (60) days, or • any winding up or bankruptcy or insolvency order is passed against SECI, or • SECI goes into liquidation or dissolution or a receiver or any similar officer is appointed over all or substantially all of its assets or official liquidator is appointed to manage its affairs, pursuant to Law, provided that it shall not constitute a SECI Event of Default, where such dissolution or liquidation of Buyer or SECI is for the purpose of a merger, consolidation or reorganization and where the resulting entity has the financial standing to perform its obligations under this Agreement and has creditworthiness similar to SECI and expressly assumes all obligations of SECI and is in a position to perform them; or; (viv) If Buying Entities are Procurer(s) is subject to any of the above defaults and SECI does not designate another or other Buying Entities Procurer(s) for purchase of powerGreen Ammonia. (viv) Occurrence of any other event which is specified in this Agreement to be a material breach or default of SECI.

SECI Event of Default. 13.2.1 The occurrence and the continuation of any of the following events, unless any such event occurs as a result of a Force Majeure Event or a breach by the SPD OWPD of its obligations under this Agreement, shall constitute the Event of Default on the part of defaulting SECI: (i) SECI fails to pay (with respect to a Monthly Bill or a Supplementary Bill), subject to Article 10.5, for a period of ninety (90) days after the Due Date and the SPD OWPD is unable to recover the amount outstanding to the SPD OWPD through the Letter of Credit, (ii) SECI repudiates this Agreement and does not rectify such breach even within a period of sixty (60) days from a notice from the SPD OWPD in this regard; or (iii) except where due to any SPDOWPD’s failure to comply with its obligations, SECI is in material breach of any of its obligations pursuant to this Agreement, and such material breach is not rectified by SECI within sixty (60) days of receipt of notice in this regard from the SPD OWPD to SECI; or (iv) if • SECI becomes voluntarily or involuntarily the subject of any bankruptcy or insolvency or winding up proceedings and such proceedings remain uncontested for a period of sixty (60) days, or • any winding up or bankruptcy or insolvency order is passed against SECI, or • SECI goes into liquidation or dissolution or a receiver or any similar officer is appointed over all or substantially all of its assets or official liquidator is appointed to manage its affairs, pursuant to Law, provided that it shall not constitute a SECI Event of Default, where such dissolution or liquidation of Buyer or SECI is for the purpose of a merger, consolidation or reorganization and where the resulting entity has the financial standing to perform its obligations under this Agreement and has creditworthiness similar to SECI and expressly assumes all obligations of SECI and is in a position to perform them; or; (v) If Buying Entities are Entity is subject to any of the above defaults and SECI does not designate another or other Buying Entities for purchase of power. (vi) Occurrence of any other event which is specified in this Agreement to be a material breach or default of SECI.

SECI Event of Default. 13.2.1 The occurrence and the continuation of any of the following events, unless any such event occurs as a result of a Force Majeure Event or a breach by the SPD of its obligations under this Agreement, shall constitute the Event of Default on the part of defaulting SECI: (i) SECI fails to pay (with respect to a Monthly Bill Xxxx or a Supplementary BillXxxx), subject to Article 10.5, for a period of ninety (90) days after the Due Date and the SPD is unable to recover the amount outstanding to the SPD through the Letter of CreditCredit/ Default Escrow Account, (ii) SECI repudiates this Agreement and does not rectify such breach even within a period of sixty thirty (6030) days from a notice from the SPD in this regard; or (iii) except where due to any SPD’s SPD‟s failure to comply with its obligations, SECI is in material breach of any of its obligations pursuant to this Agreement, and such material breach is not rectified by SECI within sixty thirty (6030) days of receipt of notice in this regard from the SPD to SECI; or (iv) or if •  SECI becomes voluntarily or involuntarily the subject of any bankruptcy or insolvency or winding up proceedings and such proceedings remain uncontested for a period of sixty thirty (6030) days, or •  any winding up or bankruptcy or insolvency order is passed against SECI, or •  SECI goes into liquidation or dissolution or a receiver or any similar officer is appointed over all or substantially all of its assets or official liquidator is appointed to manage its affairs, pursuant to Law, provided Provided that it shall not constitute a SECI Event of Default, where such dissolution or liquidation of Buyer SECI or SECI is for the purpose of a merger, consolidation or reorganization and where the resulting entity has the financial standing to perform its obligations under this Agreement and has creditworthiness similar to SECI and expressly assumes all obligations of SECI and is in a position to perform them; or; (viv) If Buying Entities Utilities are subject to any of the above defaults and SECI does not designate another or other Buying Entities Utilities for purchase of powerPower. (viv) Occurrence of any other event which is specified in this Agreement to be a material breach or default of SECI.

SECI Event of Default. 13.2.1 The occurrence and the continuation of any of the following events, unless any such event occurs as a result of a Force Majeure Event or a breach by the SPD WPD of its obligations under this Agreement, shall constitute the Event of Default on the part of defaulting SECI: (i) SECI fails to pay (with respect to a Monthly Bill or a Supplementary BillXxxx), subject to Article 10.5, for a period of ninety (90) days after the Due Date and the SPD WPD is unable to recover the amount outstanding to the SPD WPD through the Letter of Credit, (ii) SECI repudiates this Agreement and does not rectify such breach even within a period of sixty (60) days from a notice from the SPD WPD in this regard; or (iii) except where due to any SPDWPD’s failure to comply with its obligations, SECI is in material breach of any of its obligations pursuant to this Agreement, and such material breach is not rectified by SECI within sixty (60) days of receipt of notice in this regard from the SPD WPD to SECI; or (iv) or if • SECI becomes voluntarily or involuntarily the subject of any bankruptcy or insolvency or winding up proceedings and such proceedings remain uncontested for a period of sixty (60) days, or • any winding up or bankruptcy or insolvency order is passed against SECI, or • SECI goes into liquidation or dissolution or a receiver or any similar officer is appointed over all or substantially all of its assets or official liquidator is appointed to manage its affairs, pursuant to Law, provided that it shall not constitute a SECI Event of Default, where such dissolution or liquidation of Buyer or SECI is for the purpose of a merger, consolidation or reorganization and where the resulting entity has the financial standing to perform its obligations under this Agreement and has creditworthiness similar to SECI and expressly assumes all obligations of SECI and is in a position to perform them; or; (viv) If Buying Entities are subject to any of the above defaults and SECI does not designate another or other Buying Entities for purchase of power. (viv) Occurrence of any other event which is specified in this Agreement to be a material breach or default of SECI.

SECI Event of Default. 13.2.1 The occurrence and the continuation of any of the following events, unless any such event occurs as a result of a Force Majeure Event or a breach by the SPD BESSD of its obligations under this Agreement, shall constitute the Event of Default on the part of defaulting SECI: (i) SECI fails to pay (with respect to a Monthly Bill Xxxx or a Supplementary BillXxxx), subject to Article 10.5, for a period of ninety (90) days after the Due Date and the SPD BESSD is unable to recover the amount outstanding to the SPD BESSD through the Letter of Credit, (ii) SECI repudiates this Agreement and does not rectify such breach even within a period of sixty (60) days from a notice from the SPD BESSD in this regard; or (iii) except where due to any SPDBESSD’s failure to comply with its obligations, SECI is in material breach of any of its obligations pursuant to this Agreement, and such material breach is not rectified by SECI within sixty (60) days of receipt of notice in this regard from the SPD BESSD to SECI; or (iv) or if • SECI becomes voluntarily or involuntarily the subject of any bankruptcy or insolvency or winding up proceedings and such proceedings remain uncontested for a period of sixty (60) days, or • any winding up or bankruptcy or insolvency order is passed against SECI, or • SECI goes into liquidation or dissolution or a receiver or any similar officer is appointed over all or substantially all of its assets or official liquidator is appointed to manage its affairs, pursuant to Law, provided that it shall not constitute a SECI Event of Default, where such dissolution or liquidation of Buyer or SECI is for the purpose of a merger, consolidation or reorganization and where the resulting entity has the financial standing to perform its obligations under this Agreement and has creditworthiness similar to SECI and expressly assumes all obligations of SECI and is in a position to perform them; or; (viv) If Buying Entities are subject to any of the above defaults and SECI does not designate another or other Buying Entities for purchase of power. (viv) Occurrence of any other event which is specified in this Agreement to be a material breach or default of SECI.

SECI Event of Default. 13.2.1 The occurrence and the continuation of any of the following events, unless any such event occurs as a result of a Force Majeure Event or a breach by the SPD of its obligations under this Agreement, shall constitute the Event of Default on the part of defaulting SECI: (i) SECI fails to pay (with respect to a Monthly Bill Xxxx or a Supplementary BillXxxx), subject to Article 10.5, for a period of ninety (90) days after the Due Date and the SPD is unable to recover the amount outstanding to the SPD through the Letter of CreditCredit/ Default Escrow Account, (ii) SECI repudiates this Agreement and does not rectify such breach even within a period of sixty thirty (6030) days from a notice from the SPD in this regard; or (iii) except where due to any SPD’s failure to comply with its obligations, SECI is in material breach of any of its obligations pursuant to this Agreement, and such material breach is not rectified by SECI within sixty thirty (6030) days of receipt of notice in this regard from the SPD to SECI; or (iv) or if • SECI becomes voluntarily or involuntarily the subject of any bankruptcy or insolvency or winding up proceedings and such proceedings remain uncontested for a period of sixty thirty (6030) days, or • any winding up or bankruptcy or insolvency order is passed against SECI, or • SECI goes into liquidation or dissolution or a receiver or any similar officer is appointed over all or substantially all of its assets or official liquidator is appointed to manage its affairs, pursuant to Law, provided Provided that it shall not constitute a SECI Event of Default, where such dissolution or liquidation of Buyer SECI or SECI is for the purpose of a merger, consolidation or reorganization and where the resulting entity has the financial standing to perform its obligations under this Agreement and has creditworthiness similar to SECI and expressly assumes all obligations of SECI and is in a position to perform them; or; (viv) If Buying Entities Utilities are subject to any of the above defaults and SECI does not designate another or other Buying Entities Utilities for purchase of powerPower. (viv) Occurrence of any other event which is specified in this Agreement to be a material breach or default of SECI.

SECI Event of Default. 13.2.1 The occurrence and the continuation of any of the following events, unless any such event occurs as a result of a Force Majeure Event or a breach by the SPD BESSD of its obligations under this Agreement, shall constitute the Event of Default on the part of defaulting SECI: (i) SECI fails to pay (with respect to a Monthly Bill or a Supplementary Bill), subject to Article 10.5, for a period of ninety (90) days after the Due Date and the SPD BESSD is unable to recover the amount outstanding to the SPD BESSD through the Letter of Credit, (ii) SECI repudiates this Agreement and does not rectify such breach even within a period of sixty (60) days from a notice from the SPD BESSD in this regard; or (iii) except where due to any SPDBESSD’s failure to comply with its obligations, SECI is in material breach of any of its obligations pursuant to this Agreement, and such material breach is not rectified by SECI within sixty (60) days of receipt of notice in this regard from the SPD BESSD to SECI; or (iv) if • SECI becomes voluntarily or involuntarily the subject of any bankruptcy or insolvency or winding up proceedings and such proceedings remain uncontested for a period of sixty (60) days, or • any winding up or bankruptcy or insolvency order is passed against SECI, or • SECI goes into liquidation or dissolution or a receiver or any similar officer is appointed over all or substantially all of its assets or official liquidator is appointed to manage its affairs, pursuant to Law, provided that it shall not constitute a SECI Event of Default, where such dissolution or liquidation of Buyer or SECI is for the purpose of a merger, consolidation or reorganization and where the resulting entity has the financial standing to perform its obligations under this Agreement and has creditworthiness similar to SECI and expressly assumes all obligations of SECI and is in a position to perform them; or; (v) If Buying Entities are subject to any of the above defaults and SECI does not designate another or other Buying Entities for purchase of power. (vi) Occurrence of any other event which is specified in this Agreement to be a material breach or default of SECI.

SECI Event of Default. 13.2.1 9.2.1 The occurrence and the continuation of any of the following events, unless any such event occurs as a result of a Force Majeure Event or a breach by the SPD of its obligations under this AgreementEvent, shall constitute the a SECI’s Event of Default on the part of defaulting SECIDefault: (i) SECI fails to pay (with respect supply power to a Monthly Bill or a Supplementary Bill), subject to Article 10.5, the Delivery Points for a continuous period of ninety (90) days after the Due Date and the SPD is unable to recover the amount outstanding to the SPD through the Letter of Credit,one year. (ii) SECI repudiates this Agreement and does not rectify such breach even within a period of sixty if (60a) days from a notice from the SPD in this regard; or (iii) except where due to any SPD’s failure to comply with its obligations, SECI is in material breach of any of its obligations pursuant to this Agreement, and such material breach is not rectified by SECI within sixty (60) days of receipt of notice in this regard from the SPD to SECI; or (iv) if • SECI becomes voluntarily or involuntarily the subject of any bankruptcy or insolvency or winding up proceedings and such proceedings remain uncontested for a period of sixty thirty (6030) days, or • (b) any winding up or bankruptcy or insolvency order is passed against the SECI, or • (c) the SECI goes into liquidation or dissolution or has a receiver or any similar officer is appointed over all or substantially all of its assets or official liquidator is appointed to manage its affairs, pursuant to Law, provided Provided that it shall a dissolution or liquidation of the SECI will not constitute be a SECI SECI’s Event of Default, where Default if such dissolution or liquidation of Buyer or SECI is for the purpose of a merger, consolidation or reorganization and where the resulting entity has the financial standing to perform its obligations under this Agreement and has company retains creditworthiness similar to the SECI and expressly assumes all obligations of the SECI under this Agreement and is in a position to perform them; or; (iii) SECI repudiates this Agreement and does not rectify such breach within a period of thirty (30) days from a notice from Buying Entity in this regard; or (iv) except where due to any Buying Entity’s failure to comply with its material obligations, the SECI is in breach of any of its material obligations pursuant to this Agreement, and such material breach is not rectified by the SECI within thirty (30) days of receipt of first notice in this regard given by the Buying Utility. (v) If Buying Entities are subject to any of the above defaults and SECI does not designate another or other Buying Entities for purchase of power. (vi) Occurrence occurrence of any other event which is specified in this Agreement to be a material breach or breach/ default of the SECI.