Preliminary Default Notice definition

Preliminary Default Notice shall have the meaning ascribed thereto in Article 13 of this Agreement;

Preliminary Default Notice shall have the meaning ascribed thereto in Article 16 of this Agreement.

Preliminary Default Notice shall have the meaning ascribed thereto in ARTICLE 12: of this PPA;

Examples of Preliminary Default Notice in a sentence

• In the event of failure of the Seller to rectify the Event of Default giving rise to Preliminary Default Notice, the lenders, upon receipt of a written advice from the Procurer confirming such failure, either on their own or through its representative (“the Lenders' Representative”) shall be entitled to notify the Procurer and the Seller of the intention of the Lenders to substitute the Seller by the Selectee for the residual period of this Agreement (the “Substitution Notice”).

• The First Party (i.e. the First Party who serves the Preliminary Default Notice on the Corporation as per this Agreement) shall, simultaneously also issue a copy of the same to the Lenders.

• In the event of failure of the Corporation to rectify the Event of Default giving rise to Preliminary Default Notice, the lenders, upon receipt of a written advice from the First Party confirming such failure, either on their own or through its representative (“the Lenders’ Representative”) shall be entitled to notify the First Party and the Corporation of the intention of the Lenders to substitute the Corporation by the Selectee for the residual period of this Agreement (the “Substitution Notice”).

• The Procurer (i.e. the Procurer who serves the Preliminary Default Notice on the Seller as per this Agreement) shall, simultaneously also issue a copy of the same to the Lenders.

• Upon the occurrence and continuation of any SPD Event of Default under Article 13.1, NTPC shall have the right to deliver to the SPD, with a copy to the representative of the lenders to the SPD with whom the SPD has executed the Financing Agreements, a notice stating its intention to terminate this Agreement (NTPC Preliminary Default Notice), which shall specify in reasonable detail, the circumstances giving rise to the issue of such notice.

• Upon the occurrence and continuation of any SPD Event of Default under Article 13.1, NVVN shall have the right to deliver to the SPD, with a copy to the representative of the lenders to the SPD with whom the SPD has executed the Financing Agreements, a notice stating its intention to terminate this Agreement (NVVN Preliminary Default Notice), which shall specify in reasonable detail, the circumstances giving rise to the issue of such notice.

• Upon the occurrence and continuation of any SPD Event of Default under Article 13.1, SECI shall have the right to deliver to the SPD, with a copy to the representative of the lenders to the SPD with whom the SPD has executed the Financing Agreements, a notice stating its intention to terminate this Agreement (SECI Preliminary Default Notice), which shall specify in reasonable detail, the circumstances giving rise to the issue of such notice.

• If the SPD Default is not cured within a period of sixty (60) days of the issue of Buying Entity Preliminary Default Notice or any other such period mutually agreed upon by the Parties, the Buying Entity shall have the right to terminate this Agreement by issuing a Buying Entity Termination Notice.

• Upon the occurrence and continuation of any Developer Event of Default under Clause 17.1, the Authority shall be entitled to terminate this Agreement by issuing a notice stating its intention to terminate this Agreement (Authority’s Preliminary Default Notice), which shall specify in reasonable detail, the circumstances giving rise to the issue of such notice.

• PSPCL filed its reply to the petition vide memo No. 5590 dated 25.03.2022 and has submitted that the Preliminary Default Notice was issued on account of the Sellers Event of Default, as provided in Article 14.1(iv) of the PPA, namely the failure on the part of TSPL ‘to achieve Average Availability of sixty five percent (65%), within a non-consecutive period of twelve (12) months within any continuous aggregate period of thirty six (36) months’ ranging from Sep 2018 to Aug 2021.

More Definitions of Preliminary Default Notice

Preliminary Default Notice means the Power Sale Agreement entered between the Discom and NTPC (NTPC-Discom PSA) for selling the bundled power as per the provisions of Guidelines for selection of Grid-connected Solar- PV Power Projects under “State Specific Bundling Scheme” under Batch-II, Tranche-I of NSM Phase-II and annexed hereto as Schedule 3 of this Agreement; shall have the meaning ascribed thereto in Article 13 of this Agreement;

Preliminary Default Notice shall have the meaning ascribed thereto in Article 10 of this Agreement.

Preliminary Default Notice shall have the meaning ascribed thereto in Article 16

Preliminary Default Notice means [………] MW, being Installed Capacity of the Power Station measured at the bus-bar, reduced by the normative auxiliary power consumption as prescribed by CERC from time to time; In case of a dedicated transmission line connecting the bus-bar and the Interconnection Point, the Power Station’s Net Capacity shall be ….MW, being the Installed Capacity of the Power Station measured at the Interconnection Point and reduced by the normative auxiliary power consumption and losses, if any, of such dedicated transmission line; shall have the meaning ascribed thereto in Article 11 of this Agreement;

Preliminary Default Notice shall have the meaning ascribed thereto in Article 13 of this Agreement; Production obligation of Manufacturer Manufacturing capacity of solar PV modules, cells, wafers and ingots should start commercial production within three years of effective date of Package-I PPAs and should produce at least 80% of the installed capacity within 1st year and 90% of the installed capacity within 2nd year of the commencement of commercial operation.

Preliminary Default Notice shall have the meaning ascribed thereto in Article 13 of this Agreement; Project Site Shall mean the site for the Project , defined under the terms of the Waste Concession Agreement as the land at Arjun Das Camp, made available to G20ESG as the REPD and the Concessionaire by NDMC under the terms of those Agreements. The Project Site also contains the Delivery Point ; “Prudent Utility Practices” shall mean the practices, methods and standards that are generally accepted internationally from time to time by electric utilities for the purpose of ensuring the safe, efficient and economic design, construction, commissioning, operation and maintenance of po wer generation equipment and which practices, methods and standards shall be adjusted as necessary, to take account of: a) operation and maintenance guidelines recommended by the manufacturers of the plant and equipment to be incorporated in the Power Pro ject;b) the requirements of Indian Law; and the physical conditions at the site of the Power Project; “Purchaser” shall refer to NDMC as the purchaser of the electricity delivered by the REPD under the terms of this Agreement and in accordance with Article 9 of this Agreement;