SHORTFALL IN THE TESTED CAPACITIES. If the Company fails to achieve the required contracted capacity within a period of 90 days from the date of Commercial Operation of the Unit/Project, the Company shall be liable to pay Liquidated Damages to the HPSEBL @ Rs. 4000/- per kW for the shortfall between the contracted and the tested capacities. For fractional values of the shortfall in percentage, the Liquidated Damages will be computed on prorata basis. In the event of the shortfall between the contracted capacity and the tested capacity exceeding 4%, it will constitute Company Event of Default as it would amount to deviating materially from Prudent Utility Practices.
Appears in 6 contracts
Samples: Power Purchase Agreement, Medium Term, Power Purchase Agreement
