Common use of SHIPPER’S SECURITY/CONFIRMATION Clause in Contracts

SHIPPER’S SECURITY/CONFIRMATION. i To ensure timely and appropriate performance of this Agreement, the Shipper shall make a security deposit of Rs. (Rupees only) to the Transporter, at the time of signing of this Agreement or CT Agreement (as the case may be). The Shipper shall also arrange to submit a bank guarantee, with validity exceeding the expected gas drawal Start Date by at least six months, for Rs. (Rupees only) from any of the nationalized/scheduled banks in favour of the Transporter, at the time of signing of this Agreement or CT Agreement (as the case may be) in XXXX’s proforma (“Bank Guarantee”).

SHIPPER’S SECURITY/CONFIRMATION. i To ensure timely and appropriate performance of this Agreement, the Shipper shall make a security deposit of Rs. (Rupees only) to the Transporter, at the time of signing of this Agreement or CT Agreement (as the case may be). The Shipper shall also arrange to submit a bank guarantee, with validity exceeding the expected gas drawal Start Date by at least six months, for Rs. (Rupees only) from any of the nationalized/scheduled banks in favour of the Transporter, at the time of signing of this Agreement or CT Agreement (as the case may be) in XXXXGAIL’s proforma (“Bank Guarantee”).

SHIPPER’S SECURITY/CONFIRMATION. i i. To ensure timely and appropriate performance of this Agreement, the Shipper Owner shall make a security deposit of Rs. (Rupees only) to the Transporter, at the time of signing of this Agreement or CT Agreement (as the case may be). The Shipper Owner shall also arrange to submit a bank guarantee, ; with validity exceeding the expected gas drawal Start Date by at least six months, for Rs. (Rupees only) from any of the nationalized/scheduled banks in favour of the Transporter, at the time of signing of this Agreement or CT Agreement (as the case may be) in XXXXIOCL’s proforma (“Bank Guarantee”).

SHIPPER’S SECURITY/CONFIRMATION. Not Applicable for Redelivery Points already connected to GAIL’s pipelines i To ensure timely and appropriate performance of this Agreement, the Shipper shall make a security deposit of Rs. (Rupees only) to the Transporter, at the time of signing of this Agreement or CT Agreement (as the case may be). The Shipper shall also arrange to submit a bank guarantee, with validity exceeding the expected gas drawal Start Date by at least six months, for Rs. (Rupees only) from any of the nationalized/scheduled banks in favour of the Transporter, at the time of signing of this Agreement or CT Agreement (as the case may be) in XXXX’s proforma (“Bank Guarantee”).

SHIPPER’S SECURITY/CONFIRMATION. Not Applicable for Redelivery Points already connected to GAIL’s pipelines i To ensure timely and appropriate performance of this Agreement, the Shipper shall make a security deposit of Rs. (Rupees only) to the Transporter, at the time of signing of this Agreement or CT Agreement (as the case may be). The Shipper shall also arrange to submit a bank guarantee, with validity exceeding the expected gas drawal Start Date by at least six months, for Rs. (Rupees only) from any of the nationalized/scheduled banks in favour of the Transporter, at the time of signing of this Agreement or CT Agreement (as the case may be) in XXXXGAIL’s proforma (“Bank Guarantee”).