Common use of Termination Due to Force Majeure Event Clause in Contracts

Termination Due to Force Majeure Event. 8.6.1 If, prior to the completion of the 90 (Ninety) Days period (or any extended period) commencing from the date of issuance of the FM Notice, the Parties are of the reasonable view that: (i) a Non-Political Force Majeure Event is likely to continue beyond such 90 (Ninety) Day period or any extended period agreed ; or (ii) that it is uneconomic or impractical to restore the affected Project; then the Parties may mutually decide to terminate this Agreement, which termination shall take effect from the date on which such decision is taken. 8.6.2 Without prejudice to the provisions of Article 8.6.1 above, the Affected Party shall, after the expiry of the period of 90 (Ninety) Days after the notification of a Non-Political Force Majeure Event or any other mutually extended period, be entitled to forthwith terminate this Agreement in its sole discretion by issuing a notice to that effect. On termination of this Agreement pursuant to this Article 8.6.2, the consequences of termination that are set out in this Agreement shall apply. 8.6.3 In the event of a termination of this Agreement as a result of a Non-Political Force Majeure Event in accordance with the provisions of Article 8.6.2, the Parties agree that the Concessionaire shall not be entitled to the payment of any Termination Compensation provided however that the Concessionaire shall be entitled to retain any or all proceeds received under any insurance policies maintained by it in relation to the Project. 8.6.4 Upon occurrence of a Political Force Majeure Event, the Concessionaire shall, at its discretion, have the right to terminate this Agreement forthwith after the completion of the period of 120 (one hundred and twenty) Days from the date of the FM Notice. Upon notice of termination being issued by the Concessionaire under this Article 8.6.4, the Authority shall pay the Termination Compensation to the Concessionaire. Only for the purpose of determination of the Termination Compensation payable by the Authority, a Political Force Majeure Event that results in a termination pursuant to this Article 8.6.4 shall be treated as an "Authority Event of Default". All the other consequences of termination that are set out in this Agreement shall apply. 8.6.5 Notwithstanding anything to the contrary elsewhere in this Agreement, the Concessionaire shall be entitled to sell, assign, create Security over or otherwise dispose of (or have the land and station disposed of on its behalf) any or all of the land and improvements forming the Inspection Station, following termination due to a Force Majeure Event and utilize the proceeds from such disposal (including any transfer or assignment fee or any funds received by the Authority from the re-tendering process) towards any purpose the Concessionaire sees fit. The Authority shall provide reasonable assistance to Concessionaire in completing the transfer of the land and the stations to a third party.

Termination Due to Force Majeure Event. 8.6.1 (a) If, prior to the completion of the 90 180 (Ninetyone hundred and eighty) Days Day period (or any extended period) for a Natural Force Majeure Event commencing from the date of issuance of the FM Notice, the Parties are of the reasonable view that: (i) a Non-Political Natural Force Majeure Event is likely to continue beyond such 90 180 (Ninetyone hundred and eighty) Day period or any extended period agreed in pursuance of Article 15.3; or (ii) that it is uneconomic or impractical to restore the affected Project; Unit, then the Parties may mutually decide to terminate this Agreement, which termination shall take effect from the date on which such decision is taken. 8.6.2 (b) Without prejudice to the provisions of Article 8.6.1 15.6(a) above, the Affected Party shall, after the expiry of the period of 90 180 (Ninetyone hundred and eighty) Days after the notification of a Non-Political Force Majeure Event or any other mutually extended period, be entitled to forthwith terminate this Agreement in its sole discretion by issuing a notice to that effect. On termination of this Agreement pursuant to this Article 8.6.215.6(b): (i) no Termination Compensation shall be payable to the SPD; (ii) any bank guarantees, if available, provided by the consequences of termination that are set out in SPD to the Procurer under this Agreement shall apply. 8.6.3 In the event of a termination of this Agreement as a result of a Non-Political Force Majeure Event in accordance with the provisions of Article 8.6.2, the Parties agree that the Concessionaire shall not be entitled returned to the payment of any Termination Compensation provided however that SPD; (iii) the Concessionaire SPD shall be entitled to retain any or all proceeds received under any insurance policies maintained by it in relation to the ProjectUnit (subject to the Lenders' rights in respect of such insurance proceeds); (iv) the SPD shall be paid the undisputed payments under outstanding Monthly Xxxx(s) before occurrence of the Force Majeure Event; and (v) the SPD shall decommission any structures set up on the Unit Land as on such date in accordance with Article 6.5 of the Implementation Support Agreement. 8.6.4 (c) Upon occurrence of a Political Non-Natural Force Majeure Event, the Concessionaire SPD shall, at its discretion, have the right to terminate this Agreement forthwith after the completion of the period of 120 180 (one hundred and twentyeighty) Days from the date of the FM Notice. Upon notice Notwithstanding anything contained in Article 15.4, upon termination of termination being issued by the Concessionaire under this Article 8.6.4, the Authority shall pay the Termination Compensation to the Concessionaire. Only for the purpose of determination of the Termination Compensation payable by the Authority, a Political Force Majeure Event that results in a termination Agreement pursuant to this Article 8.6.4 15.6(c): (i) the Procurer shall pay Termination Compensation equivalent to the amount payable in accordance with Article 14.1(a) and in such a scenario the Unit shall be treated as an "Authority Event of Default". All Transferred to the other consequences of termination that are set out Procurer in accordance with Article 24 and the Coordination Agreement; (ii) any bank guarantees, if available, provided by the SPD to the Procurer under this Agreement shall apply. 8.6.5 Notwithstanding anything be returned to the contrary elsewhere in this Agreement, SPD; (iii) the Concessionaire SPD shall be entitled to sell, assign, create Security over or otherwise dispose retain all proceeds received under any insurance policies maintained by it in relation to the Unit (subject to the Lenders‟ rights in respect of such insurance proceeds); and (or have iv) the land and station disposed of on its behalfSPD shall be paid the undisputed payments under outstanding Monthly Xxxx(s) any or all before occurrence of the land Force Majeure Event. (d) It is further clarified that, any charges payable on account of relinquishment of Long Term Access by the Procurer in accordance with Regulation 18 of the Central Electricity Regulatory Commission (Grant of Connectivity, Long-term Access and improvements forming the Inspection StationMedium-term Open Access in inter-State Transmission and related matters) Regulations, following termination 2009 due to a termination of the Agreement on account of prolonged Force Majeure Event and utilize the proceeds from such disposal (including any transfer or assignment fee or any funds received will be borne by the Authority from the re-tendering process) towards any purpose the Concessionaire sees fit. The Authority shall provide reasonable assistance to Concessionaire Procurer in completing the transfer of the land and the stations to a third partyaccordance with Article 10.5(d).

Termination Due to Force Majeure Event. 8.6.1 11.10.1 Termination due to Natural Force Majeure Event a) If, prior to the completion of the 90 180 (Ninetyone hundred and eighty) Days Day period (or any extended period) for a Natural Force Majeure Event commencing from the date of issuance of the FM Force Majeure Notice, the Parties are of the reasonable view that: (i) that a Non-Political Natural Force Majeure Event is likely to continue beyond such 90 180 (Ninetyone hundred and eighty) Day period or any extended period agreed in pursuance of Article 11.5 (Performance Excused); or (ii) or that it is uneconomic or impractical to restore the affected Project; Unit, then the Parties may mutually decide to terminate this Agreementthe PPA, which and the termination shall take effect from the date on which such decision is taken. 8.6.2 b) Without prejudice to the provisions of Article 8.6.1 11.10.1.(a) above, the Affected Party shall, after the expiry of the period of 90 180 (Ninetyone hundred and eighty) Days after the notification of a Non-Political Force Majeure Event or any other mutually extended period, be entitled to forthwith terminate this Agreement the PPA in its sole discretion by issuing a notice to that effect. . c) On termination of this Agreement the PPA pursuant to this Article 8.6.2, 11.10.1(b): i. no Termination Compensation shall be payable to the consequences of termination that are set out in this Agreement shall applyHPD. 8.6.3 In ii. the event HPD shall be eligible for undisputed payments under outstanding Monthly Bill(s), before the occurrence of a termination of this Agreement as a result Force Majeure Event. 11.10.2 Termination due to Non-Natural Force Majeure Event a) Upon occurrence of a Non-Political Force Majeure Event in accordance with the provisions of Article 8.6.2, the Parties agree that the Concessionaire shall not be entitled to the payment of any Termination Compensation provided however that the Concessionaire shall be entitled to retain any or all proceeds received under any insurance policies maintained by it in relation to the Project. 8.6.4 Upon occurrence of a Political Natural Force Majeure Event, the Concessionaire HPD shall, at its discretion, have the right to terminate this Agreement the PPA forthwith after the completion of the period of 120 180 (one hundred and twentyeighty) Days from the date of the FM Force Majeure Notice. Upon notice of . b) On termination being issued by the Concessionaire under this Article 8.6.4, the Authority shall pay the Termination Compensation to the Concessionaire. Only for the purpose of determination of the Termination Compensation payable by PPA pursuant to Article 11.10.2(a): i. the Authority, a Political HPD shall be eligible for undisputed payments under outstanding Monthly Bill(s) before the occurrence of Force Majeure Event that results in a termination pursuant to this Article 8.6.4 shall be treated as an "Authority Event of Default". All the other consequences of termination that are set out in this Agreement shall applyEvent. 8.6.5 Notwithstanding anything to the contrary elsewhere in this Agreement, the Concessionaire shall be entitled to sell, assign, create Security over or otherwise dispose of (or have the land and station disposed of on its behalf) any or all of the land and improvements forming the Inspection Station, following termination due to a Force Majeure Event and utilize the proceeds from such disposal (including any transfer or assignment fee or any funds received by the Authority from the re-tendering process) towards any purpose the Concessionaire sees fit. The Authority shall provide reasonable assistance to Concessionaire in completing the transfer of the land and the stations to a third party.

Termination Due to Force Majeure Event. 8.6.1 If23.7.1 If a Force Majeure Event subsists for a period of 270 (two hundred and seventy) days or more within a continuous period of 365 (three hundred and sixty five) days, prior and in case the above deadline is not extended on mutually agreed basis, either Party may in its discretion terminate this Agreement by issuing a Termination Notice to the completion other Party without being liable in any manner whatsoever, save as provided in this Article 23, and upon issue of such Termination Notice, this Agreement shall, notwithstanding anything to the 90 (Ninety) Days period (or any extended period) commencing from the date of issuance of the FM contrary contained herein, stand terminated forthwith: 23.7.2 Provided that before issuing such Termination Notice, the Parties are Party intending to issue the Termination Notice shall inform the other Party of the reasonable view that: such intention and grant 15 (ififteen) days’ time to make a Non-Political Force Majeure Event is likely to continue beyond such 90 (Ninety) Day period or any extended period agreed ; or (ii) that it is uneconomic or impractical to restore the affected Project; then the Parties representation, and may mutually decide to terminate this Agreement, which termination shall take effect from the date on which such decision is taken. 8.6.2 Without prejudice to the provisions of Article 8.6.1 above, the Affected Party shall, after the expiry of the period of 90 such 15 (Ninetyfifteen) Days after the notification of a Non-Political Force Majeure Event or any other mutually extended days period, be entitled to forthwith terminate this Agreement whether or not it is in receipt of such representation, in its sole discretion by issuing a notice to that effect. issue the Termination Notice. 23.7.3 On termination of this Agreement pursuant to this Article 8.6.223.6: i. In case of termination on account of an event listed as Force Majeure as per Articles 23.1 (a), (b), (c) and (d) above, no Termination Compensation shall be payable to the Affected Party. ii. In case of termination at the instance of the Concessionaire on account of an event listed as Force Majeure as per Articles 23.1. (e), (f), (g), (h) and (i) above, the consequences of termination that are set out in this Agreement shall apply. 8.6.3 In Concessioning authority will have the event of a termination of this Agreement as a result of a Non-Political Force Majeure Event in accordance with the provisions of Article 8.6.2, the Parties agree that the Concessionaire shall option to (but will not be entitled obliged to) take-over the Project assets by paying the Debt Due. In case the Concessioning authority chooses not to exercise the payment of any Termination Compensation provided however that above option, and the Concessionaire shall be entitled same is not agreed to retain any or all proceeds received under any insurance policies maintained by it in relation to the Project. 8.6.4 Upon occurrence of a Political Force Majeure Event, the Concessionaire shall, at its discretion, have the right to terminate this Agreement forthwith after the completion of the period of 120 (one hundred and twenty) Days from the date of the FM Notice. Upon notice of termination being issued by the Concessionaire under this Article 8.6.4Concessionaire, the Authority shall pay the Termination Compensation to the Concessionaire. Only for the purpose of determination of the Termination Compensation payable by the Authority, a Political Force Majeure Event that results it will result in a termination pursuant to this Article 8.6.4 shall be treated dispute as an "Authority Event of Default". All the other consequences of termination that are set out in this Agreement shall apply. 8.6.5 Notwithstanding anything to the contrary elsewhere in per this Agreement, and will be resolved as per the Concessionaire shall be entitled to sell, assign, create Security over or otherwise dispose of (or have the land and station disposed of on its behalf) any or all of the land and improvements forming the Inspection Station, following termination due to a Force Majeure Event and utilize the proceeds from such disposal (including any transfer or assignment fee or any funds received by the Authority from the re-tendering process) towards any purpose the Concessionaire sees fit. The Authority shall provide reasonable assistance to Concessionaire in completing the transfer of the land and the stations to a third partyDispute Resolution Mechanism under this Agreement.