Payment Security Mechanism definition

Payment Security Mechanism shall have the meaning ascribed thereto in Article 10.4 of this Agreement;

Payment Security Mechanism shall have the meaning ascribed thereto in Article 10.1.10 of this Agreement “PM-KUSUSM “ Pradhan Mantri Xxxx Xxxxxxxx xxxx Xxxxxxx Xxxxxxxxxxx- A scheme notified by the Ministry of New and Renewable Energy Government of India with Guidelines for Implementation of Feeder Level Solarisation under Component-C of PM-XXXXX Scheme issued on date 4-12- 2020.

Payment Security Mechanism shall have the meaning ascribed thereto in Article

Examples of Payment Security Mechanism in a sentence

• The fund will be created as per the Guidelines and Payment Security Mechanism (PSM) guidelines, if any.

• It is however, specifically agreed that the payment of money becoming due from the SECI to the SPD under this Agreement for supply of Solar Power to the extent of the Contracted Capacity shall not be on a back to back basis and will be as per the recourse under the Payment Security Mechanism provided in the PPA and PSA.

• TPDDL may not schedule power in absence of adequate Payment Security Mechanism.

• It is however, specifically agreed that the payment of money becoming due from the SECI to the RPD under this Agreement for supply of power to the extent of the Contracted Capacity shall not be on a back to back basis and will be as per the recourse under the Payment Security Mechanism provided in the PPA and PSA SECI shall discharge the tariff payment obligation in terms of the provisions of this Agreement.

• The Payment Security Mechanism specified hereunder is intended to ensure recovery of the applicable payments in case of a payment default and not as a mechanism for regular payments.

More Definitions of Payment Security Mechanism

Payment Security Mechanism shall have the meaning ascribed thereto in Article 7.7 of this PPA; “Construction Performance Bank Guarantee” or “C-PBG” Means the irrevocable, unconditional bank guarantee, to be submitted by the Power Producer to Nodal Agency in the form as mentioned in RFP and which shall include any additional bank guarantee furnished by the Power Producer under this PPA, if any;

Payment Security Mechanism means Letter of Credit or Letter of Credit backed by Escrow Account as per the agreement. Provided that, advance payment shall constitute payment security if there are no outstanding dues.

Payment Security Mechanism shall have the meaning ascribed thereto in Article 10.4 of this Agreement; “Performance shall mean the irrevocable unconditional bank guarantee, Bank Guarantee” submitted by the SPD to NODAL RAILWAY in the form attached hereto as Schedule 1;

Payment Security Mechanism shall have the meaning ascribed thereto in Article 10.4 of this Agreement; “Performance Bank shall mean the irrevocable unconditional bank guarantee, submitted by the BESSD to SECI in the form attached hereto as Schedule1;

Payment Security Mechanism means Letter of Credit or Letter of Credit backed by Escrow Account as per the Transmission Service Agreement between the transmission licensee and the distribution licensee or other user of transmission system; or such other agreements by whatever name called and binding on the distribution licensee or any other user of the transmission system for transmission services and shall also include advance payment;

Payment Security Mechanism means Letter of Credit or Letter of Credit backed by Escrow Account as per the agreement:Provided that, advance payment shall constitute payment security if there are no outstanding dues:Provided further that the payment security may be for a shorter duration or lower capacity in case of generating company, if there are no outstanding dues:

Payment Security Mechanism means the payment security as provided to the JVCO and as described in Section 3;