Examples of Energy Purchase Agreement in a sentence
There can be no assurance that an Oil Major Company, Shell Trading Switzerland, Shell Treasury or any other entity providing credit support to an Oil Major Company will be able to fulfill their payment obligations under the relevant Energy Contracts, Energy Purchase Agreement or other credit obligation, in which case the Issuer will rank as an unsecured creditor.
However, the subsidiary will now pursue with Power Acquisition Request (PAR) pending at the Central Power Purchasing Agency (Guarantee) Limited and after getting required consents for Energy Purchase Agreement, the management shall try to get suitable tariff through new regime of competitive bidding, recently announced by NEPRA or as amended from time to time.
By the Letters of Credit, Shell Treasury has agreed to provide credit support in favour of the Issuer in respect of the obligations of Shell Trading Switzerland to make payments due upon redemption of Energy Contracts purchased from Shell Trading Switzerland under the Energy Purchase Agreement.
The Dollar Letter of Credit will terminate upon the earlier of (i) the date of termination of the Energy Purchase Agreement with respect to Dollar Contracts; and (ii) the date on which there are no outstanding Dollar Contracts created pursuant to the Energy Purchase Agreement, in each case unless terminated earlier upon the issuance of a Substitute Credit.
The Seller shall obtain and maintain insurance from financially strong and internationally reputable insurance companies in accordance with Article XII of the Energy Purchase Agreement.
The Energy Purchase Agreement, the Energy Contracts provided thereunder and the Letters of Credit have characteristics that demonstrate capacity to produce funds to service any payments due and payable on the Energy Securities, and are each governed by English law.
The regularity in time is also an option, and can be seen as time window constraints on the supply periods.
The Euro Letter of Credit will terminate upon the earlier of (i) the date of termination of the Energy Purchase Agreement with respect to Euro Contracts; and (ii) the date on which there are no outstanding Euro Contracts created pursuant to the Energy Purchase Agreement, in each case unless terminated earlier upon the issuance of a Substitute Credit.The Issuer’s rights and obligations under the Letters of Credit are transferable to the Trustee or its nominee without the consent of Shell Treasury.
Subject to the provisions of Section 15.1(f) of this Agreement, Article XV of the Energy Purchase Agreement and the Financing Documents (which may have different requirements regarding the use of insurance proceeds), the proceeds of all such insurance (except loss of revenue/profits or business interruption coverage) shall be used to repair or restore the Complex to the condition existing immediately prior to the event giving rise to such insurance claim and proceeds.
Shell Trading Switzerland is required under the terms of the Energy Purchase Agreement to ensure that its obligations thereunder and under any Energy Contracts provided pursuant to the Energy Purchase Agreement have the benefit of credit support provided by a Credit Provider.