Common use of TERMINATION ON ACCOUNT OF COMPANY EVENT OF DEFAULT Clause in Contracts

TERMINATION ON ACCOUNT OF COMPANY EVENT OF DEFAULT. (a) If the Agreement is terminated in accordance with Section 10.6 on account of Company Event of Default as per Section 10.3, the Company shall, at the HPSEBL's option, sell the Project to the HPSEBL, subject to the fulfillment of undischarged liabilities for the past as well as balance period of the Agreement on mutually agreed basis and if the Parties are unable to arrive at a mutual agreement, the Dispute with respect to the undischarged liabilities, shall be addressed as per Article 13.

TERMINATION ON ACCOUNT OF COMPANY EVENT OF DEFAULT. (a) If the Agreement is terminated in accordance with Section Clause 10.6 on account of Company Company's Event of Default as per Section Clause 10.3, the Company shall, at the HPSEBL's option, sell the Project to the HPSEBL, subject to the fulfillment fulfilment of undischarged liabilities for the past as well as balance period of the Agreement agreement on mutually agreed basis and if the Parties parties are unable to arrive at a mutual agreementagreement as per (i) above, the Dispute dispute with respect to the of undischarged liabilities, shall should be addressed as per Article 13.