Supply of Coal by Rail Sample Clauses

Supply of Coal by Rail. 11.2.1 The Purchaser shall submit financial coverage (“Financial Coverage”) in the form of a Banker’s Cheque/Demand Draft or Bank Guarantee, (issued by a scheduled Bank acceptable to the Seller and in the format enclosed at Schedule - IV of this Agreement) for an amount equal to the estimated As Delivered Price of Coal for fifteen (15) days of Coal supplies, i.e. ACQ/24, subject to a minimum amount equivalent to As Delivered Price of Coal of one rake-load, as indicated in the notice by the Seller. In case the supply consists of different Grades, the As Delivered Price of Coal shall be calculated on the Base Price of the highest Grade, as shown in Schedule II.
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Supply of Coal by Rail. 10.2.1 The Purchaser shall submit financial coverage (“Financial Coverage”) in the form of a Banker’s Cheque/Demand Draft or Bank Guarantee, (issued by a scheduled Bank acceptable to the Seller and in the format enclosed at Schedule - IV of this Agreement) for an amount equal to the estimated As Delivered Price of Coal. In case of Bank Guarantee, Purchaser shall submit As delivered price of coal for the entire monthly quantity subject to a minimum amount equivalent to “As Delivered Price” of coal of one rake load and in terms of rake load quantity in case of Banker’s cheque / DD. In case the supply consist of different grades, As delivered price of coal shall be calculated on the base price of the highest grade of coal, as shown in Schedule-II.
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Supply of Coal by Rail. 11.2.1 The Purchaser shall submit financial coverage ("Financial Coverage") in the form of a Banker's cheque / Demand Draft or Bank Guarantee, (issued by a Scheduled Bank acceptable to the Seller and in the format enclosed at Schedule-IV of this Agreement ) for an amount equal to the estimated As Delivered Price of Coal. In case of Bank Guarantee, Purchaser shall submit As delivered price of coal for the entire monthly quantity subject to a minimum amount equivalent to "Delivered Price" of coal of one rake load and in terms of rake load quantity in case of Banker's cheque / DD. In case the supply consist of different grades, As delivered price of coal shall be calculated on the base price of the highest grade of coal, as shown in Schedule-II. or The Purchaser shall open an Irrevocable Revoling Letter of Credit (IRLC) in favour of the Seller valid from the Effective Date up-till the following 31st March, for an amount equal to the estimated "As Delivered Price" of coal for the entire monthly quantity subjec to a minimum amount equivalent to "As Delivered Price" of one rake of linked grade of coal. The Purchaser shall ensure that the IRLC is periodically renewed at least one month prior to its expiry. The renewals shall each be for one year co-terminus with the end of the Year, of the term of this Agreement. The IRLC shall be in the format as per pro-forma at Schedule-IV. The Letter of Credit shall be opened at a Nationalised / Scheduled Bank at NAGPUR. The value of the IRLC shall be increased proportionately, within seven days of any increase in the "As Delivered Price" of coal.
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Related to Supply of Coal by Rail

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