SUSPENSION OF COAL SUPPLIES. 14.1 Notwithstanding other provisions of this Agreement (including Clause 4.3.1, Clause 12.2.4 and Clause 13.2), in the event the Purchaser fails to pay any amount including any interest, due to the Seller under this Agreement within a period of 30 (thirty) days of the same falling due, the Seller shall have the right to resort to any one or more of the following: (a) adjust the outstanding amount against the Performance Security by invoking the Performance Security or such portion of it as may be deemed necessary; (b) invoke the Financial Coverage Bank Guarantee or any cash deposit towards the Financial Coverage to the extent available and necessary to meet the outstanding dues; and/or (c) suspend supplies of the Contracted Grade of Coal to the Purchaser. 14.2 During the period of suspension of supplies in terms of Clause 14.1, the Seller shall be relieved of its obligations to supply the Contracted Grade of Coal to the Purchaser hereunder. However, the obligations of the Purchaser under this Agreement shall be deemed to remain in full force. 14.3 In the event of suspension of Coal supplies pursuant to this Clause, the Seller shall have the right to continue the suspension for as long as the Performance Security or the Financial Coverage, as the case may be, has not been fully replenished. The Seller shall resume the Contracted Grade of Coal supplies within 3 (three) days of payment/ adjustment of the outstanding amount together with interest as also the full replenishment of Performance Security or Financial Coverage, as the case may be.
Appears in 10 contracts
Samples: Fuel Supply Agreement, Fuel Supply Agreement, Fuel Supply Agreement
SUSPENSION OF COAL SUPPLIES. 14.1 13.1 Notwithstanding other provisions of this Agreement (including Clause 4.3.1, Clause 12.2.4 and Clause 13.2)Agreement, in the event the Purchaser fails to pay any amount including any interest, due to the Seller under this Agreement within a period of 30 thirty (thirty30) days of the same falling duedue , the Seller shall have the right to resort to any one or more of the following:
(a) adjust Adjust the outstanding amount against the Performance Security Deposit or by invoking the Performance Security Deposit BG maintained in terms of Clause 3 or such portion of it as may be deemed necessary;available; and/or
(b) invoke Invoke the Financial Coverage Bank Guarantee or any cash deposit towards the Financial Coverage to the extent available and necessary to meet the outstanding dues; and/or
(c) suspend Suspend supplies of the Contracted Grade of Coal to the Purchaser.
14.2 13.2 During the period of suspension of supplies in terms of Clause 14.113.1, the Seller shall be relieved of its his obligations to supply the Contracted Grade of Coal to the Purchaser hereunderCoal. However, the obligations of the Purchaser under this Agreement shall be deemed to remain in full force.
14.3 13.3 In the event of suspension of Coal supplies pursuant to this Clause, the Seller shall have the right to continue the suspension for as long as the Performance interest-free Security Deposit or the Financial Coverage, as the case may be, has not been fully replenished. The Seller shall resume the Contracted Grade of Coal supplies within 3 three (three3) days of payment/ adjustment payment of the outstanding amount together with interest as also the full replenishment of Performance Security or Deposit and/or the Financial Coverage..
13.4 In the event rail movement is declared / considered not feasible by Railways, as review will be made jointly in the case may bematter of mode of transport.
Appears in 5 contracts
Samples: Coal Supply Agreement, Coal Supply Agreement, Coal Supply Agreement
SUSPENSION OF COAL SUPPLIES. 14.1 Notwithstanding other provisions of this Agreement (including Clause 4.3.1, Clause 12.2.4 4.3.1 and Clause 13.2), in the event the Purchaser fails to pay any amount including any interest, due to the Seller under this Agreement within a period of 30 (thirty) days of the same falling due, the Seller shall have the right to resort to any one or more of the following:
(a) adjust the outstanding amount against the Performance Security by invoking the Performance Security or such portion of it as may be deemed necessary;
(b) invoke adjust the Financial Coverage Bank Guarantee outstanding amount against the Advance Payment or any cash deposit towards the Financial Coverage to the extent available and necessary to meet the outstanding dues; and/or;
(c) suspend supplies of the Contracted Grade of Coal to the Purchaser.
14.2 During the period of suspension of supplies in terms of Clause 14.1, the Seller shall be relieved of its obligations to supply the Contracted Grade of Coal to the Purchaser hereunder. However, the obligations of the Purchaser under this Agreement shall be deemed to remain in full force.
14.3 In the event of suspension of Coal supplies pursuant to this Clause, the Seller shall have the right to continue the suspension for as long as the Performance Security or the Financial CoverageAdvance Payment / cash deposit, as the case may be, has not been fully replenished. The Seller shall resume the Contracted Grade of Coal supplies within 3 (three) days of payment/ adjustment of the outstanding amount together with interest as also the full replenishment of Performance Security or Financial CoverageAdvance Payment / cash deposit, as the case may be.
Appears in 4 contracts
Samples: E Fuel Supply Agreement, Fuel Supply Agreement, E Fuel Supply Agreement
SUSPENSION OF COAL SUPPLIES. 14.1 Notwithstanding other provisions of this Agreement (including Clause 4.3.1, Clause 12.2.4 and Clause 13.2)Agreement, in the event the Purchaser fails to pay any amount including any interest, due to the Seller under this Agreement within a period of 30 thirty (thirty30) days of the same falling due, the Seller shall have the right to resort to any one or more of the following:
(a) adjust Adjust the outstanding amount against the Performance Security Deposit or by invoking the Performance Security Deposit BG maintained in terms of Clause 3 or such portion of it as may be deemed necessary;available; and/or
(b) invoke Invoke the Financial Coverage Bank Guarantee or any cash deposit towards the Financial Coverage to the extent available and necessary to meet the outstanding dues; and/or
(c) suspend Suspend supplies of the Contracted Grade of Coal to the Purchaser.
14.2 During the period of suspension of supplies in terms of Clause 14.1, 14.1 the Seller shall be relieved of its his obligations to supply the Contracted Grade of Coal to the Purchaser hereunderCoal. However, the obligations of the Purchaser under this Agreement shall be deemed to remain in full force.
14.3 In the event of suspension of Coal supplies pursuant to this Clause, the Seller shall have the right to continue the suspension for as long as the Performance interest-free Security Deposit or the Financial Coverage, as the case may be, has not been fully replenished. The Seller shall resume the Contracted Grade of Coal supplies within 3 three (three3) days of payment/ adjustment payment of the outstanding amount together with interest as also the full replenishment of Performance Security or Deposit and/or the Financial Coverage.
14.4 In the event rail movement is declared / considered not feasible by Railways, as review will be made jointly in the case may bematter of mode of transport.
Appears in 4 contracts
Samples: Coal Supply Agreement, Coal Supply Agreement, Coal Supply Agreement
SUSPENSION OF COAL SUPPLIES. 14.1 Notwithstanding other provisions of this Agreement (including Clause 4.3.1, Clause 12.2.4 and 4.3.1and Clause 13.2), in the event the Purchaser fails to pay any amount including any interest, due to the Seller under this Agreement within a period of 30 (thirty) days of the same falling due, the Seller shall have the right to resort to any one or more of the following:
(a) adjust the outstanding amount against the Performance Security by invoking the Performance Security or such portion of it as may be deemed necessary;
(b) invoke adjust the Financial Coverage Bank Guarantee outstanding amount against the Advance Payment or any cash deposit towards the Financial Coverage to the extent available and necessary to meet the outstanding dues; and/or;
(c) suspend supplies of the Contracted Grade of Coal to the Purchaser.
14.2 During the period of suspension of supplies in terms of Clause 14.1, the Seller shall be relieved of its obligations to supply the Contracted Grade of Coal to the Purchaser hereunder. However, the obligations of the Purchaser under this Agreement shall be deemed to remain in full force.
14.3 In the event of suspension of Coal supplies pursuant to this Clause, the Seller shall have the right to continue the suspension for as long as the Performance Security or the Financial CoverageAdvance Payment / cash deposit, as the case may be, has not been fully replenished. The Seller shall resume the Contracted Grade of Coal supplies within 3 (three) days of payment/ adjustment of the outstanding amount together with interest as also the full replenishment of Performance Security or Financial CoverageAdvance Payment / cash deposit, as the case may be.
Appears in 3 contracts
Samples: E Fuel Supply Agreement, E Fuel Supply Agreement, E Fuel Supply Agreement
SUSPENSION OF COAL SUPPLIES. 14.1 Notwithstanding other provisions of this Agreement (including Clause 4.3.1, Clause 12.2.4 and Clause 13.2)Agreement, in the event the Purchaser fails to pay any amount including any interest, due to the Seller under this Agreement within a period of 30 thirty (thirty30) days of the same falling due, the Seller shall have the right to resort to any one or more of the following:
(a) adjust Adjust the outstanding amount against the Performance Security Deposit or by invoking the Performance Security Deposit BG maintained in terms of Clause 3 or such portion of it as may be deemed necessary;available; and/or
(b) invoke Invoke the Financial Coverage Bank Guarantee or any cash deposit towards the Financial Coverage to the extent available and necessary to meet the outstanding dues; and/or
(c) suspend Suspend supplies of the Contracted Grade of Coal to the Purchaser.
14.2 During the period of suspension of supplies in terms of Clause 14.1, 14.1 the Seller shall be relieved of its his obligations to supply the Contracted Grade of Coal to the Purchaser hereunderCoal. However, the obligations of the Purchaser under this Agreement shall be deemed to remain in full force.
14.3 In the event of suspension of Coal supplies pursuant to this Clause, the Seller shall have the right to continue the suspension for as long as the Performance interest-free Security Deposit or the Financial Coverage, as the case may be, has not been fully replenished. The Seller shall resume the Contracted Grade of Coal supplies within 3 three (three3) days of payment/ adjustment payment of the outstanding amount together with interest as also the full replenishment of Performance Security or Deposit and/or the Financial Coverage, as the case may be.
Appears in 2 contracts
Samples: Coal Supply Agreement, Coal Supply Agreement
SUSPENSION OF COAL SUPPLIES. 14.1 Notwithstanding other provisions of this Agreement (including Clause 4.3.1, Clause 12.2.4 and Clause 13.2)Agreement, in the event the Purchaser Purchaser:
(a) fails to pay any amount including any interest, due to the Seller under this Agreement within a period of 30 five (thirty5) days of the same falling due, .
(b) resells and/or takes recourse to diversion of coal the Seller shall have the right to resort to any one or more of the following:
(ai) adjust Adjust the outstanding amount against the Performance Security Deposit or by invoking the Performance Security Deposit BG maintained in terms of Clause 3 or such portion of it as may be deemed necessary;
(b) invoke the Financial Coverage Bank Guarantee or any cash deposit towards the Financial Coverage to the extent available and necessary to meet the outstanding duesavailable; and/or
(cii) suspend Suspend supplies of the Contracted Grade of Coal to the Purchaser.
14.2 During the period of suspension of supplies in terms of Clause 14.1, 14.1 the Seller shall be relieved of its his obligations to supply the Contracted Grade of Coal to the Purchaser hereunderCoal. However, the obligations of the Purchaser under this Agreement shall be deemed to remain in full force.. The seller shall however reserve the right to dispose of the stock in terms of clause 4.2
14.3 In the event of suspension of Coal supplies pursuant to this Clausethe Clause 14.1(a), the Seller shall have the right to continue the suspension for as long as the Performance interest-free Security or the Financial Coverage, as the case may beDeposit, has not been fully replenished. The Seller shall resume the Contracted Grade of Coal supplies within 3 three (three3) days of payment/ adjustment payment of the outstanding amount together with interest as also the full replenishment of Performance Security Deposit.
14.4 In the event of suspension of Coal supplies pursuant to the Clause 14.1(b), the Seller shall have the right to continue the suspension of Coal for as long as appropriate arrangements to the satisfaction of the Seller have not been made by the Purchaser to stop the diversion or Financial Coverage, as the case may bere-selling of the Coal.
Appears in 2 contracts
Samples: Coal Supply Agreement, Coal Supply Agreement
SUSPENSION OF COAL SUPPLIES. 14.1 13.1 Notwithstanding other provisions of this Agreement (including Clause 4.3.1, Clause 12.2.4 and Clause 13.2)Agreement, in the event the Purchaser fails to pay any amount including any interest, due to the Seller under this Agreement within a period of 30 thirty (thirty30) days of the same falling duedue , the Seller shall have the right to resort to any one or more of the following:
(a) adjust Adjust the outstanding amount against the Performance Security Deposit or by invoking the Performance Security Deposit BG maintained in terms of Clause 3 or such portion of it as may be deemed necessary;available; and/or
(b) invoke Invoke the Financial Coverage Bank Guarantee or any cash deposit towards the Financial Coverage to the extent available and necessary to meet the outstanding dues; and/or
(c) suspend Suspend supplies of the Contracted Grade of Coal to the Purchaser.
14.2 13.2 During the period of suspension of supplies in terms of Clause 14.113.1, the Seller shall be relieved of its his obligations to supply the Contracted Grade of Coal to the Purchaser hereunderCoal. However, the obligations of the Purchaser under this Agreement shall be deemed to remain in full force.
14.3 13.3 In the event of suspension of Coal supplies pursuant to this Clause, the Seller shall have the right to continue the suspension for as long as the Performance interest-free Security Deposit or the Financial Coverage, as the case may be, has not been fully replenished. The Seller shall resume the Contracted Grade of Coal supplies within 3 three (three3) days of payment/ adjustment payment of the outstanding amount together with interest as also the full replenishment of Performance Security or Deposit and/or the Financial Coverage, as the case may be.. 13.4 .
Appears in 1 contract
Samples: Coal Supply Agreement
SUSPENSION OF COAL SUPPLIES. 14.1 13.1 Notwithstanding other provisions of this Agreement (including Clause 4.3.1, Clause 12.2.4 and Clause 13.2)Agreement, in the event the Purchaser fails to pay any amount including any interest, due to the Seller under this Agreement within a period of 30 thirty (thirty30) days of the same falling duedue , the Seller shall have the right to resort to any one or more of the following:
(a) adjust Adjust the outstanding amount against the Performance Security Deposit or by invoking the Performance Security Deposit BG maintained in terms of Clause 3 or such portion of it as may be deemed necessary;available; and/or
(b) invoke Invoke the Financial Coverage Bank Guarantee or any cash deposit towards the Financial Coverage to the extent available and necessary to meet the outstanding dues; and/or
(c) suspend Suspend supplies of the Contracted Grade of Coal to the Purchaser.
14.2 13.2 During the period of suspension of supplies in terms of Clause 14.113.1, the Seller shall be relieved of its his obligations to supply the Contracted Grade of Coal to the Purchaser hereunderCoal. However, the obligations of the Purchaser under this Agreement shall be deemed to remain in full force.
14.3 13.3 In the event of suspension of Coal supplies pursuant to this Clause, the Seller shall have the right to continue the suspension for as long as the Performance interest-free Security Deposit or the Financial Coverage, as the case may be, has not been fully replenished. The Seller shall resume the Contracted Grade of Coal supplies within 3 three (three3) days of payment/ adjustment payment of the outstanding amount together with interest as also the full replenishment of Performance Security or Deposit and/or the Financial Coverage, as the case may be...
Appears in 1 contract
Samples: Coal Supply Agreement
SUSPENSION OF COAL SUPPLIES. 14.1 Notwithstanding other provisions of provisionsof this Agreement (including Clause 4.3.1, Clause 12.2.4 and Clause 13.2)Agreement, in the event the Purchaser eventthe Purchaser:
(a) fails to pay any amount including any interest, due to the Seller under this Agreement within a period of 30 five (thirty5) days of the same falling due, .
(b) in the event of any default by the Purchaser in terms of reselling or diverting the Coal The Seller shall have the right to resort to any one or more of the following:
(ac) adjust Adjust the outstanding amount against the Performance Security Deposit or by invoking the Performance Security Deposit BG maintained in terms of Clause 3 or such portion of it as may be deemed necessary;
(b) invoke the Financial Coverage Bank Guarantee or any cash deposit towards the Financial Coverage to the extent available and necessary to meet the outstanding duesavailable; and/or
(cd) suspend Suspend supplies of the Contracted Grade of Coal to the Purchaser.
14.2 During the period of suspension of supplies in terms of Clause 14.1, 14.1 the Seller shall be relieved of its his obligations to supply the Contracted Grade of Coal to the Purchaser hereunderCoal. However, the obligations of the Purchaser under this Agreement shall be deemed to remain in full force.
14.3 In the event of suspension of Coal supplies Coalsupplies pursuant to this Clausethe Clause 14.1(a), the Seller shall Sellershall have the right to continue the suspension for as long as the Performance interest-free Security or the Financial Coverage, as the case may beDeposit, has not been fully replenished. The Seller shall resume the Contracted Grade of Coal supplies within 3 three (three3) days of payment/ adjustment payment of the outstanding amount together with interest as also the full replenishment of Performance Security Deposit.
14.4 In the event of suspension of Coalsupplies pursuant to the Clause 14.1(b), the Sellershall have the right to continue the suspension of Coal for as long as appropriate arrangements to the satisfaction of the Seller have not been made by the Purchaser to stop the diversion or Financial Coverage, as the case may bere-selling of the Coal.
Appears in 1 contract
Samples: Fuel Supply Agreement
SUSPENSION OF COAL SUPPLIES. 14.1 Notwithstanding other provisions of this Agreement (including Clause 4.3.1, Clause 12.2.4 and 4.3.1and Clause 13.2), in the event the Purchaser fails to pay any amount including any interest, due to the Seller under this Agreement within a period of 30 (thirty) days of the same falling due, the Seller shall have the right to resort to any one or more of the following:
(a) adjust the outstanding amount against the Performance Security by invoking the Performance Security or such portion of it as may be deemed necessary;
(b) invoke adjust the Financial Coverage Bank Guarantee outstanding amount against the Advance Payment or any cash deposit towards the Financial Coverage to the extent available and necessary to meet the outstanding dues; and/or;
(c) suspend supplies of the Contracted Grade of Coal to the Purchaser.
14.2 . During the period of suspension of supplies in terms of Clause 14.1, the Seller shall be relieved of its obligations to supply the Contracted Grade of Coal to the Purchaser hereunder. However, the obligations of the Purchaser under this Agreement shall be deemed to remain in full force.
14.3 . In the event of suspension of Coal supplies pursuant to this Clause, the Seller shall have the right to continue the suspension for as long as the Performance Security or the Financial CoverageAdvance Payment / cash deposit, as the case may be, has not been fully replenished. The Seller shall resume the Contracted Grade of Coal supplies within 3 (three) days of payment/ adjustment of the outstanding amount together with interest as also the full replenishment of Performance Security or Financial CoverageAdvance Payment / cash deposit, as the case may be.
Appears in 1 contract
Samples: Fuel Supply Agreement
SUSPENSION OF COAL SUPPLIES. 14.1 Notwithstanding other provisions of this Agreement (including Clause 4.3.1, Clause 12.2.4 and Clause 13.2)Agreement, in the event the Purchaser fails to pay any amount including any interest, due to the Seller under this Agreement within a period of 30 thirty (thirty30) days of the same falling duedue , the Seller shall have the right to resort to any one or more of the following:
(a) adjust Adjust the outstanding amount against the Performance Security Deposit or by invoking the Performance Security Deposit BG maintained in terms of Clause 3 or such portion of it as may be deemed necessary;available; and/or
(b) invoke Invoke the Financial Coverage Bank Guarantee or any cash deposit towards the Financial Coverage to the extent available and necessary to meet the outstanding dues; and/orand/ or
(c) suspend Suspend supplies of the Contracted Grade of Coal to the Purchaser.
14.2 During the period of suspension of supplies in terms of Clause 14.1, 14.1 the Seller shall be relieved of its his obligations to supply the Contracted Grade of Coal to the Purchaser hereunderCoal. However, the obligations of the Purchaser under this Agreement shall be deemed to remain in full force.. 20
14.3 In the event of suspension of Coal supplies pursuant to this Clause, the Seller shall have the right to continue the suspension for as long as the Performance interest-free Security Deposit or the Financial Coverage, as the case may be, has not been fully replenished. The Seller shall resume the Contracted Grade of Coal supplies within 3 three (three3) days of payment/ adjustment payment of the outstanding amount together with interest as also the full replenishment of Performance Security or Deposit and/or the Financial Coverage, as the case may be.
Appears in 1 contract
Samples: Coal Supply Agreement
SUSPENSION OF COAL SUPPLIES. 14.1
15.1 Notwithstanding other provisions of this Agreement (including Clause 4.3.15.3.3, Clause 12.2.4 13.2.4 and Clause 13.2)14.2, in the event the Purchaser fails to pay any amount including any interest, due to the Seller under this Agreement within a period of 30 thirty (thirty30) days of the same falling due, the Seller shall have the right to resort to any one or more of the following:following:
(a) 15.1.1 adjust the outstanding amount against the Performance Security by invoking the Performance Security or such portion of it as may be deemed necessary;necessary;
(b) 15.1.2 invoke the Financial Coverage Bank Guarantee or any cash deposit towards the Financial Coverage to the extent available and necessary to meet the outstanding dues; and/or
(c) 15.1.3 suspend supplies of the Contracted Grade of Coal to the Purchaser.
14.2 15.2 During the period of suspension of supplies in terms of Clause 14.115.1, the Seller shall be relieved of its obligations to supply the Contracted Grade of Coal to the Purchaser hereunder. However, the obligations of the Purchaser under this Agreement shall be deemed to remain in full force.
14.3 15.3 In the event of suspension of Coal supplies pursuant to this Clause, the Seller shall have the right to continue the suspension for as long as the Performance Security or the Financial Financial Coverage, as the case may be, has not been fully replenished. The Seller shall resume the Contracted Grade of Coal supplies within 3 three (three3) days of payment/ adjustment of the outstanding amount together with interest as also the full replenishment of Performance Security or Financial Coverage, as the case may be.
Appears in 1 contract
Samples: Fuel Supply Agreement
SUSPENSION OF COAL SUPPLIES. 14.1 Notwithstanding other provisions of this Agreement (including Clause 4.3.1, Clause 12.2.4 and Clause 13.2)Agreement, in the event the Purchaser fails to pay any amount including any interest, due to the Seller under this Agreement within a period of 30 thirty (thirty30) days of the same falling duedue , the Seller shall have the right to resort to any one or more of the following:
(a) adjust Adjust the outstanding amount against the Performance Security Deposit or by invoking the Performance Security Deposit BG maintained in terms of Clause 3 or such portion of it as may be deemed necessary;available; and/or
(b) invoke Invoke the Financial Coverage Bank Guarantee or any cash deposit towards the Financial Coverage to the extent available and necessary to meet the outstanding dues; and/orand/ or
(c) suspend Suspend supplies of the Contracted Grade of Coal to the Purchaser.
14.2 During the period of suspension of supplies in terms of Clause 14.1, 14.1 the Seller shall be relieved of its his obligations to supply the Contracted Grade of Coal to the Purchaser hereunderCoal. However, the obligations of the Purchaser under this Agreement shall be deemed to remain in full force.
14.3 In the event of suspension of Coal supplies pursuant to this Clause, the Seller shall have the right to continue the suspension for as long as the Performance interest-free Security Deposit or the Financial Coverage, as the case may be, has not been fully replenished. The Seller shall resume the Contracted Grade of Coal supplies within 3 three (three3) days of payment/ adjustment payment of the outstanding amount together with interest as also the full replenishment of Performance Security or Deposit and/or the Financial Coverage, as the case may be.
Appears in 1 contract
Samples: Coal Supply Agreement
SUSPENSION OF COAL SUPPLIES. 14.1 15.1 Notwithstanding other provisions of this Agreement (including Clause 4.3.15.3.3, Clause 12.2.4 13.2.4 and Clause 13.2)14.2, in the event the Purchaser fails to pay any amount including any interest, due to the Seller under this Agreement within a period of 30 thirty (thirty30) days of the same falling due, the Seller shall have the right to resort to any one or more of the following:
(a) 15.1.1 adjust the outstanding amount against the Performance Security and additional performance security, if applicable by invoking the Performance Security or such portion of it as may be deemed necessary;
(b) 15.1.2 invoke the Financial Coverage Bank Guarantee or any cash deposit towards the Financial Coverage to the extent available and necessary to meet the outstanding dues; and/or
(c) 15.1.3 suspend supplies of the Contracted Grade of Coal to the Purchaser.
14.2 15.2 During the period of suspension of supplies in terms of Clause 14.115.1, the Seller shall be relieved of its obligations to supply the Contracted Grade of Coal to the Purchaser hereunder. However, the obligations of the Purchaser under this Agreement shall be deemed to remain in full force.
14.3 15.3 In the event of suspension of Coal supplies pursuant to this Clause, the Seller shall have the right to continue the suspension for as long as the Performance Security and additional performance security, if applicable or the Financial Coverage, as the case may be, has not been fully replenished. The Seller shall resume the Contracted Grade of Coal supplies within 3 three (three3) days of payment/ adjustment of the outstanding amount together with interest as also the full replenishment of Performance Security and additional performance security, if applicable or Financial Coverage, as the case may be.
Appears in 1 contract
Samples: Fuel Supply Agreement
SUSPENSION OF COAL SUPPLIES. 14.1 Notwithstanding other provisions of this Agreement (including Clause 4.3.1, Clause 12.2.4 and Clause 13.2)Agreement, in the event the Purchaser fails to pay any amount including any interest, due to the Seller under this Agreement within a period of 30 thirty (thirty30) days of the same falling due, the Seller shall have the right to resort to any one or more of the following:
(a) adjust Adjust the outstanding amount against the Performance Security Deposit or by invoking the Performance Security Deposit BG maintained in terms of Clause 3 or such portion of it as may be deemed necessary;available; and/or
(b) invoke Invoke the Financial Coverage Bank Guarantee or any cash deposit towards the Financial Coverage to the extent available and necessary to meet the outstanding dues; and/or
(c) suspend Suspend supplies of the Contracted Grade of Coal to the Purchaser.
14.2 During the period of suspension of supplies in terms of Clause 14.1, 14.1 the Seller shall be relieved of its his obligations to supply the Contracted Grade of Coal to the Purchaser hereunderCoal. However, the obligations of the Purchaser under this Agreement shall be deemed to remain in full force.
14.3 In the event of eventof suspension of Coal supplies Coalsupplies pursuant to this ClausethisClause, the Seller shall have the right to continue the suspension for as long as the Performance interest-free Security Deposit or the Financial Coverage, as the case may be, has not been fully replenished. The Seller shall resume the Contracted Grade of Coal supplies within 3 three (three3) days of payment/ adjustment payment of the outstanding amount together with interest as also the full replenishment of Performance Security or Deposit and/or the Financial Coverage, as the case may be.
Appears in 1 contract
Samples: Coal Supply Agreement
SUSPENSION OF COAL SUPPLIES. 14.1 Notwithstanding other provisions of this Agreement (including Clause 4.3.1, Clause 12.2.4 and Clause 13.2)Agreement, in the event the Purchaser fails to pay any amount including any interest, due to the Seller under this Agreement within a period of 30 thirty (thirty30) days of the same falling duedue , the Seller shall have the right to resort to any one or more of the following:
(a) adjust Adjust the outstanding amount against the Performance Security Deposit or by invoking the Performance Security Deposit BG maintained in terms of Clause 3 or such portion of it as may be deemed necessary;available; and/or
(b) invoke Invoke the Financial Coverage Bank Guarantee or any cash deposit towards the Financial Coverage to the extent available and necessary to meet the outstanding dues; and/orand/ or
(c) suspend Suspend supplies of the Contracted Grade of Coal to the Purchaser.
14.2 During the period of suspension of supplies in terms of Clause 14.1, 14.1 the Seller shall be relieved of its his obligations to supply the Contracted Grade of Coal to the Purchaser hereunderCoal. However, the obligations of the Purchaser under this Agreement shall be deemed to remain in full force.
14.3 In the event of suspension of Coal supplies pursuant to this Clause, the Seller shall have the right to continue the suspension for as long as the Performance interest-free Security Deposit or the Financial Coverage, as the case may be, has not been fully replenished. The Seller shall resume the Contracted Grade of Coal supplies within 3 three (three3) days of payment/ adjustment payment of the outstanding amount together with interest as also the full replenishment of Performance Security or Deposit and/or the Financial Coverage.
14.4 In the event rail movement is declared / considered not feasible by Railways, as review will be made jointly in the case may be.matter of mode of transport
Appears in 1 contract
Samples: Coal Supply Agreement
SUSPENSION OF COAL SUPPLIES. 14.1 13.1 Notwithstanding other provisions of this Agreement (including Clause 4.3.1, Clause 12.2.4 and Clause 13.2)Agreement, in the event the Purchaser fails to pay any amount including any interest, due to the Seller under this Agreement within a period of 30 thirty (thirty30) days of the same falling duedue , the Seller shall have the right to resort to any one or more of the following:
(a) adjust Adjust the outstanding amount against the Performance Security Deposit or by invoking the Performance Security Deposit BG maintained in terms of Clause 3 or such portion of it as may be deemed necessary;available; and/or
(b) invoke Invoke the Financial Coverage Bank Guarantee or any cash deposit towards the Financial Coverage to the extent available and necessary to meet the outstanding dues; and/or
(c) suspend Suspend supplies of the Contracted Grade of Coal to the Purchaser.
14.2 13.2 During the period of suspension of supplies in terms of Clause 14.113.1, the Seller shall be relieved of its his obligations to supply the Contracted Grade of Coal to the Purchaser hereunderCoal. However, the obligations of the Purchaser under this Agreement shall be deemed to remain in full force.
14.3 13.3 In the event of suspension of Coal supplies pursuant to this Clause, the Seller shall have the right to continue the suspension for as long as the Performance interest-free Security Deposit or the Financial Coverage, as the case may be, has not been fully replenished. The Seller shall resume the Contracted Grade of Coal supplies within 3 three (three3) days of payment/ adjustment payment of the outstanding amount together with interest as also the full replenishment of Performance Security or Deposit and/or the Financial Coverage, as the case may be...
Appears in 1 contract
Samples: Coal Supply Agreement