Common use of Procedure and timeline Clause in Contracts

Procedure and timeline. 21.11.1.1 In case the Purchaser is a company registered under the Companies Act, 2013, the Purchaser (new name) shall intimate the Seller about change of name within three (3) months succeeding the month in which Certificate of Incorporation pursuant to change of name is issued by the Registrar of Companies. 21.11.1.2 In case the Purchaser is Company registered under the Companies Act, 2013, and the change of name of Purchaser is consequent to sale of Specified End Use Plant to a Company registered under Companies Act, 2013, then the Purchaser (new entity) shall intimate the Seller about the change of name within three months succeeding the month in which the instrument evidencing the sale of Specified End Use Plant(s)/Sale Deed is executed and submit the Board Resolutions of both the Companies (vendor and vendee of the Specified End Use Plant). It is clarified that a single company shall have control of the Washery and the Specified End Use Plant(s). 21.11.1.3 In case the Purchaser is a Company registered under the Companies Act, 2013 and the change of name is on account of inter alia amalgamation, merger, demerger, takeover of the Purchaser, the Purchaser (new entity) shall intimate within three months succeeding the month in which the date of approval of the amalgamation, merger, demerger, takeover by the court/tribunal of competent jurisdiction. It is clarified that a single company shall have the control of the Washery and the Specified End Use Plant(s). 21.11.1.4 In case the change of name of the Purchaser is consequent to any event not covered under sub-clauses (a),(b) and (c) of Clause 21.11.1, the Purchaser (new entity) shall intimate the Seller about the change of name within three (3) months succeeding the month of issuance/execution of the relevant document. 21.11.1.5 The Purchaser (new entity) while intimating the Seller shall submit the following documents: 21.11.1.5.1 Certificate of Incorporation pursuant to change of name wherever applicable; 21.11.1.5.2 Instrument evidencing sale of Specified End Use Plant(s)/Board Resolutions wherever applicable 21.11.1.5.3 PAN; 21.11.1.5.4 GSTIN; 21.11.1.5.5 TAN as applicable; 21.11.1.5.6 Details of bank account;

Procedure and timeline. 21.11.1.1 (a) In case the Purchaser is a company registered under the Companies Act, 2013, the Purchaser (new name) shall intimate the Seller about change of name within three (3) months succeeding the month in which Certificate of Incorporation pursuant to change of name is issued by the Registrar of Companies. 21.11.1.2 (b) In case the Purchaser is Company registered under the Companies Act, 2013, and the change of name of Purchaser is consequent to sale of Specified End Use Plant to a Company registered under Companies Act, 2013, then the Purchaser (new entity) shall intimate the Seller about the change of name within three months succeeding the month in which the instrument evidencing the sale of Specified End Use Plant(s)/Sale Deed is executed and submit the Board Resolutions of both the Companies (vendor and vendee of the Specified End Use Plant). It is clarified that a single company shall have control of the Washery and the Specified End Use Plant(s). 21.11.1.3 (c) In case the Purchaser is a Company registered under the Companies Act, 2013 and the change of name is on account of inter alia amalgamation, merger, demerger, takeover of the Purchaser, the Purchaser (new entity) shall intimate within three months succeeding the month in which the date of approval of the amalgamation, merger, demerger, takeover by the court/tribunal of competent jurisdiction. It is clarified that a single company shall have the control of the Washery and the Specified End Use Plant(s). 21.11.1.4 (d) In case the change of name of the Purchaser is consequent to any event not covered under sub-clauses (a),(b) and (c) of Clause 21.11.1, the Purchaser (new entity) shall intimate the Seller about the change of name within three (3) months succeeding the month of issuance/execution of the relevant document. 21.11.1.5 (e) The Purchaser (new entity) while intimating the Seller shall submit the following documents: 21.11.1.5.1 (i) Certificate of Incorporation pursuant to change of name wherever applicable; 21.11.1.5.2 (ii) Instrument evidencing sale of Specified End Use Plant(s)/Board Resolutions wherever applicable 21.11.1.5.3 applicable (iii) PAN; 21.11.1.5.4 ; (iv) GSTIN; 21.11.1.5.5 ; (v) TAN as applicable; 21.11.1.5.6 ; (vi) Details of bank accountaccount;‌ (vii) Amended Bank Guarantee or any relevant financial instrument; (viii) An indemnity bond (format as per ▇▇▇▇▇▇▇▇ ▇▇▇▇ from Authorized Signatory);‌ (ix) An undertaking/ declaration in the form of affidavit (Format as per ▇▇▇▇▇▇▇▇ ▇▇ from Authorized Signatory‌ (f) The Purchaser (new entity) shall provide any further documents/details as may be sought by the Seller. (g) After intimation of change of name by the Purchaser, if the Purchaser (new entity) fails to submit all requisite documents then coal supply may be continued for a period of three (3) months succeeding the month of issuance/execution of the applicable document provided that the Purchaser has submitted the indemnity bond and the affidavit as provided in Clauses 21.11.1 (e)(viii) and 21.11.1(e)(ix).‌ (h) After submission of requisite documents within the stipulated period, coal supply to the Purchaser may be continued beyond the period of three (3) months as provided in Clause 21.11.1(g) till the issuance of acceptance letter by the Seller.‌ (i) During the intermittent period as mentioned in Clauses 21.11.1(g) and 21.11.1(h), coal supply shall be made in the changed name (formerly). (j) Seller on acceptance of such change of name shall issue an acceptance letter. A copy of acceptance letter duly acknowledged by ▇▇▇▇▇▇▇▇▇’s authorized signatory, shall be an annexure to this Agreement and treated as its integral part. The acceptance letter issued by ▇▇▇▇▇▇ and acknowledged by ▇▇▇▇▇▇▇▇▇, shall be treated as deemed modification in change of name in the Agreement for the purpose of all transactions. (k) Non acceptance of the change of name of the Purchaser by the Seller or any violation of the aforementioned provisions shall entitle the Seller to terminate the Agreement with forfeiture of Performance Security/security deposit. The reason for non-‌ acceptance of change of name shall be communicated to the Purchaser by the Seller.

Procedure and timeline. 21.11.1.1 (a) In case the Purchaser is a company registered under the Companies Act, 2013, the Purchaser (new name) shall intimate the Seller about change of name within three (3) months succeeding the month in which Certificate of Incorporation pursuant to change of name is issued by the Registrar of Companies. 21.11.1.2 (b) In case the Purchaser is Company registered under the Companies Act, 2013, and the change of name of Purchaser is consequent to sale of Specified End Use Plant to a Company registered under Companies Act, 2013, then the Purchaser (new entity) shall intimate the Seller about the change of name within three months succeeding the month in which the instrument evidencing the sale of Specified End Use Plant(s)/Sale Deed is executed and submit the Board Resolutions of both the Companies (vendor and vendee of the Specified End Use Plant). It is clarified that a single company shall have the control of the Washery and the Specified End Use Plant(s). 21.11.1.3 (c) In case the Purchaser is a Company registered under the Companies Act, 2013 and the change of name is on account of inter alia amalgamation, merger, demerger, takeover of the Purchaser, the Purchaser (new entity) shall intimate within three months succeeding the month in which the date of approval of the amalgamation, merger, demerger, takeover by the court/tribunal of competent jurisdiction. It is clarified that a single company shall have the control of the Washery and the Specified End Use Plant(s). 21.11.1.4 (d) In case the change of name of the Purchaser is consequent to any event not covered under sub-clauses (a),(b) and or (c) of Clause 21.11.1, 21.11.1 the Purchaser (new entity) shall intimate the Seller about the change of name within three (3) months succeeding the month of issuance/execution of the relevant document. 21.11.1.5 (e) The Purchaser (new entity) while intimating the Seller shall submit the following documents: 21.11.1.5.1 (i) Certificate of Incorporation pursuant to change of name wherever applicable; 21.11.1.5.2 (ii) Instrument evidencing sale of Specified End Use Plant(s)/Board Resolutions wherever applicable 21.11.1.5.3 applicable (iii) PAN; 21.11.1.5.4 ; (iv) GSTIN; 21.11.1.5.5 ; (v) TAN as applicable; 21.11.1.5.6 ; (vi) Details of bank account; (vii) Amended Bank Guarantee or any relevant financial instrument; (viii) An indemnity bond (format as per ▇▇▇▇▇▇▇▇ ▇▇▇▇ from Authorized Signatory); (ix) An undertaking/ declaration in the form of affidavit (Format as per ▇▇▇▇▇▇▇▇ ▇▇ from Authorized Signatory (f) The Purchaser (new entity) shall provide any further documents/details as may be sought by the Seller. (g) After intimation of change of name by the Purchaser, if the Purchaser (new entity) fails to submit all requisite documents then coal supply may be continued for a period of three (3) months succeeding the month of issuance/execution of the applicable document provided that the Purchaser has submitted the indemnity bond and the affidavit as provided in Clauses 21.11.1 (e)(viii) and 21.11.1(e)(ix). (h) After submission of requisite documents within the stipulated period, coal supply to the Purchaser may be continued beyond the period of three (3) months as provided in Clause 21.11.1(g) till the issuance of acceptance letter by the Seller. (i) During the intermittent period as mentioned in Clauses 21.11.1(g) and 21.11.1(h), coal supply shall be made in the changed name (formerly). (j) Seller on acceptance of such change of name shall issue an acceptance letter. A copy of acceptance letter duly acknowledged by ▇▇▇▇▇▇▇▇▇’s authorized signatory, shall be an annexure to this Agreement and treated as its integral part. The acceptance letter issued by ▇▇▇▇▇▇ and acknowledged by ▇▇▇▇▇▇▇▇▇, shall be treated as deemed modification in change of name in the Agreement for the purpose of all transactions. (k) Non acceptance of the change of name of the Purchaser by the Seller or any violation of the aforementioned provisions shall entitle the Seller to terminate the Agreement with forfeiture of Performance Security/additional performance security, if applicable/security deposit. The reason for non-acceptance of change of name shall be communicated to the Purchaser by the Seller.