Common use of Termination due to Non-Natural Force Majeure Event Clause in Contracts

Termination due to Non-Natural Force Majeure Event. a) Upon occurrence of a Non-Natural Force Majeure Event, the HPD shall, at its discretion, have the right to terminate the PPA forthwith after the completion of the period of 180 (one hundred and eighty) Days from the date of the Force Majeure Notice. b) On termination of the PPA pursuant to Article 11.10.2(a): i. SECI shall pay to the HPD, ‘Force Majeure Termination Compensation’ equivalent to the amount of the Debt Due and the 110% (one hundred and ten per cent) of the Adjusted Equity, as defined in the PPA, and takeover the Project assets. ii. the HPD shall be eligible for undisputed payments under outstanding Monthly Xxxx(s), before the occurrence of Force Majeure Event.

Termination due to Non-Natural Force Majeure Event. a) Upon occurrence of a Non-Natural Force Majeure Event, the HPD shall, at its discretion, have the right to terminate the PPA forthwith after the completion of the period of 180 (one hundred and eighty) Days from the date of the Force Majeure Notice. b) On termination of the PPA pursuant to Article 11.10.2(a): i. SECI shall pay to the HPD, ‘Force Majeure Termination Compensation’ equivalent to the amount of the Debt Due and the 110% (one hundred and ten per cent) of the Adjusted Equity, as defined in the PPA, and takeover the Project assets. ii. the HPD shall be eligible for undisputed payments under outstanding Monthly Xxxx(sBill(s), before the occurrence of Force Majeure Event.