Common use of Withdrawals upon Termination Clause in Contracts

Withdrawals upon Termination. 24.4.1. Notwithstanding anything to the contrary contained in this Agreement, all amounts standing to the credit of the Escrow Account shall, upon Termination, be appropriated in the following order: a) all taxes due and payable by the SPD for and in respect of the solar power project. b) 90% (ninety per cent) of Debt Due excluding Subordinated Debt; c) outstanding amount, if any under Agreement; d) all payments and Damages certified by Railways as due and payable to it by the SPD; e) retention and payments relating to the liability set forth in Article 31; f) outstanding Debt Service including the balance of Debt Due; g) outstanding Subordinated Debt; h) incurred or accrued O&M Expenses; i) any other payments required to be made under this Agreement; and j) balance, if any, in accordance with the instructions of the SPD: 24.4.2. The provisions of this Article 24 and the instructions contained in the Escrow Agreement shall remain in full force and effect until the obligations set forth in Clause 24.4.1 have been discharged.

Withdrawals upon Termination. 24.4.1. Notwithstanding anything to the contrary contained in this Agreement, all amounts standing to the credit of the Escrow Account shall, upon Termination, be appropriated in the following order: a) all taxes due and payable by the SPD for and in respect of the solar power project.; b) 90% (ninety per cent) of Debt Due excluding Subordinated Debt; c) outstanding amount, if any under Agreement; d) all payments and Damages certified by Railways as due and payable to it by the SPD; e) retention and payments relating to the liability set forth in Article 31; f) outstanding Debt Service including the balance of Debt Due; g) outstanding Subordinated Debt; h) incurred or accrued O&M Expenses; i) any other payments required to be made under this Agreement; and j) balance, if any, in accordance with the instructions of the SPD: 24.4.2. The provisions of this Article 24 28 and the instructions contained in the Escrow Agreement shall remain in full force and effect until the obligations set forth in Clause 24.4.1 28.4.1 have been discharged.

Withdrawals upon Termination. 24.4.1. Notwithstanding anything to the contrary contained in this Agreement, all amounts standing to the credit of the Escrow Account shall, upon Termination, be appropriated in the following order: a) all taxes due and payable by the SPD for and in respect of the solar power project.; b) 90% (ninety per cent) of Debt Due excluding Subordinated Debt; c) outstanding amount, if any under Agreement; d) all payments and Damages certified by Railways as due and payable to it by the SPD; e) retention and payments relating to the liability set forth in Article 31; f) outstanding Debt Service including the balance of Debt Due; g) outstanding Subordinated Debt; h) incurred or accrued O&M Expenses; i) any other payments required to be made under this Agreement; and j) balance, if any, in accordance with the instructions of the SPD: 24.4.2. The provisions of this Article 24 and the instructions contained in the Escrow Agreement shall remain in full force and effect until the obligations set forth in Clause 24.4.1 have been discharged.