Satisfaction of conditions subsequent by the SPD Clause Samples

Satisfaction of conditions subsequent by the SPD. The SPD agrees and undertakes to duly perform and complete all of the following activities at SPD’s own risk and cost within 210 days from the Effective Date, unless such completion is affected by any Force Majeure event, or if any of the activities is specifically waived in writing by SECI: a) The SPD shall obtain all Consents, Clearances and Permits required for supply of power to SECI as per the terms of this Agreement; b) The SPD shall execute VGF Securitization Agreement with SECI as per format provided in Schedule-4 of this Agreement c) The SPD shall make Project financing arrangements and provide necessary certificates to SECI in this regard; d) The SPD shall make adequate arrangements to connect the Power Project switchyard with the Interconnection Facilities at the Delivery Point; e) The SPD shall sign a Transmission Agreement with CTU/STU/ Transmission Utilities confirming the evacuation and connectivity of the CTU/STU / Transmission Utilities system upto the delivery point of SPD by the Scheduled Commissioning date; f) The SPD shall produce the documentary evidence of the clear title and possession of the acquired land @ minimum 1.5 hectare /MW in the name of SPD; g) The SPD shall fulfill the technical requirements according to criteria mentioned under Clause 2.6 (B) of JNNSM guidelines for selection of new projects and produce the documentary evidence of the same. The SPD shall also specify their plan for meeting the requirement for domestic content (if applicable). The SPD shall submit to SECI the relevant documents as stated above, complying with the Conditions Subsequent, within 210 days period from the Effective Date.

Satisfaction of conditions subsequent by the SPD. The SPD agrees and undertakes to duly perform and complete all of the following activities at the SPD’s own cost and risk within one hundred eighty (180) days from the date of signing of this Agreement, unless such completion is affected by any Force Majeure event, or if any of the activities is specifically waived in writing by Solar Power Procurer a. For obtaining all Consents, Clearances and Permits required for supply of power to Solar Power Procurer as per the terms of this Agreement; b. For making project financing agreements and completing financial closure and shall provide necessary documents to Solar Power Procurer in this regard; c. For making adequate arrangements to connect the Power Project switchyard with the Interconnection Facilities at the Interconnection Point; d. For producing the documentary evidence of the clear title and possession of the acquired land @ minimum 1.5 hectare /MW in the name of SPD. In this regard the SPD shall be required to furnish the following documentary evidences –  Ownership or lease hold rights (for at least 30 years) in the name of the SPD and possession of 100% of the area of land required for the Project.  Certificate by the concerned and competent revenue/registration authority for the acquisition/ownership/vesting of the land in the name of the SPD.  Sworn affidavit from the Authorized person of the SPD listing the details of the land and certifying total land required for the Project under clear possession of the SPD.  A certified English translation from an approved translator in case above land documents are in languages other than English and Hindi.  The SPD shall submit line diagram of undertaking solar power project. The Solar Power Procurer agrees: i. to make all reasonable efforts for making arrangements for evacuation of power from the Project to be completed prior to the COD of the Project subject to Article 3. ii. for purchase of Delivered Energy from the Project as per Article 2. iii. to guide the Solar Power Developer in obtaining approval for the interconnection facilities for synchronization, commercial operation, regular operation etc., as required by the Solar Power Developer. Solar Power Developer shall take insurance for the project assets against losses due to natural calamities, fire, riot and strike for replacement value. Performance Bank Guarantee i. The Performance Bank Guarantee of INR 30 lakh/MW to be furnished under this Agreement and before signing of this PPA shall be for ...

Satisfaction of conditions subsequent by the SPD. The SPD agrees and undertakes to duly perform and complete all of the following activities including Financial Closure at the SPD’s own cost and risk within 12Months from the Effective Date of this Agreement, unless such completion is affected by any Force Majeure event, or for the activities specifically waived in writing by MANIREDA/MSPDCL: a) The SPDs shall report tie-up of Financing Arrangements for the Projects. In this regard, the SPD shall submit a certificate/ necessary documents from all financing agencies regarding the tie-up of 100% of the funds indicated for the Project, including arrangements of funds in the form of Equity. The SPD will have to submit the required documents to MANIREDA/MSPDCL at least 15 (Fifteen) days prior to the scheduled Financial Closure date. In case of delay in submission of documents mentioned above, MANIREDA/MSPDCL shall not be liable for delay in verification of documents and subsequent delay in Financial Closure.

Satisfaction of conditions subsequent by the SPD. The SPD agrees and undertakes to duly perform and complete all of the following activities including Financial Closure at the SPD’s own cost and risk within 210 days from the Effective Date, unless such completion is affected by any Force Majeure event, or if any of the activities is specifically waived in writing by NTPC: a) The SPD shall obtain all Consents, Clearances and Permits required for supply of power to NTPC as per the terms of this Agreement. NTPC has no obligation to recommend to any department/agency or the Govt. for the grant/permission for the Solar Power project. The Solar Power Developer shall on his own obtain permissions/sanctions from Govt. authorities, if any required for establishing the project; b) The SPD shall make Project Financing Arrangements and shall provide necessary documents to NTPC in this regard; c) The SPD shall sign a transmission agreement with STU/CTU confirming the evacuation & connectivity of CTU/STU system upto the delivery point of SPD by the Scheduled Commissioning Date;

Satisfaction of conditions subsequent by the SPD. The SPD agrees and undertakes to duly perform and complete all of the following activities at the SPD’s own cost and risk within two hundred and ten (210) days from the date of signing of this Agreement, unless such completion is affected by any Force Majeure event, or if any of the activities is specifically waived in writing by DISCOM (1) For obtaining all Consents, Clearances and Permits required for supply of power to DISCOM as per the terms of this Agreement; (2) For making project financing agreements and completing financial closure and shall provide necessary documents to DISCOM in this regard; (3) For making adequate arrangements to connect the Power Project switchyard with the Interconnection Facilities at the Delivery Point; (4) For producing the documentary evidence of the clear title and possession of the acquired land @ minimum 1.5 hectare /MW in the name of SPD. In this regard the SPD shall be required to furnish the following documentary evidences – a. Ownership or lease hold rights (for at least 30 years) in the name of the SPD and possession of 100% of the area of land required for the Project. b. Certificate by the concerned and competent revenue/registration authority for the acquisition/ownership/vesting of the land in the name of the SPD. c. Sworn affidavit from the Authorized person of the SPD listing the details of the land and certifying total land required for the Project under clear possession of the SPD. d. A certified English translation from an approved translator in case above land documents are in languages other than English and Hindi.

Satisfaction of conditions subsequent by the SPD. The SPD agrees and undertakes to duly perform and complete all of the following activities at SPD’s own risk and cost within Six (6) months from the Effective Date, i.e. by _[insert the date which is Six (6) months from the Effective Date] unless such completion is affected by any Force Majeure event, or if any of the activities is specifically waived in writing by SECI: a) The SPD shall make Project financing arrangements and provide necessary certificates to SECI in this regard; b) The SPD shall enter into an Implementation Support Agreement with Solar Park Implementation Agency (SPIA) and/or Lease Deed/Right to Use Agreement (as applicable) with the SPPD for Land & associated infrastructure for development of the Project inside the Solar Park and for connectivity with the STU/CTU System for confirming the evacuation of power by the Scheduled Commissioning Date;. The SPD shall submit to SECI the relevant documents as stated above, complying with the Conditions Subsequent, within six (6) months from the Effective Date.

Satisfaction of conditions subsequent by the SPD. The SPD agrees and undertakes to duly perform and complete all of the following activities at SPD’s own risk and cost by [Enter the date as on 12 months or 24 months or 36 months or 48 months, as the case may be from effective date of PPAs] unless such completion is affected by any Force Majeure event, or if any of the activities is specifically waived in writing by SECI: a) The SPD shall make Project financing arrangements and provide necessary certificates to SECI in this regard; b) The SPD shall submit other requisite documents as indicated under clause no. 15.1, Page no. 5 to 7 of Annexure-I to Amendment-IV of RfS documents. The SPD shall submit to SECI the relevant documents as stated above, complying with the Conditions Subsequent, within by [Enter the date as on 12 months or 24 months or 36 months or 48 months, as the case may be from effective date of PPAs].

Satisfaction of conditions subsequent by the SPD. The SPD agrees and undertakes to duly perform and complete all of the following activities at the SPD‟s own cost and risk within one hundred eighty (180) days from the date of signing of this Agreement, unless such completion is affected by any Force Majeure event, or if any of the activities is specifically waived in writing by Solar Power Procurer a. For obtaining all Consents, Clearances and Permits required for supply of power to Solar Power Procurer as per the terms of this Agreement; b. For making project financing agreements and completing financial closure and shall provide necessary documents to Solar Power Procurer in this regard; c. For making adequate arrangements to connect the Power Project switchyard with the Interconnection Facilities at the Delivery Point; d. For producing the documentary evidence of the clear title and possession of the acquired land @ minimum 1.5 hectare /MW in the name of SPD. In this regard the SPD shall be required to furnish the following documentary evidences –  Ownership or lease hold rights (for at least 30 years) in the name of the SPD and possession of 100% of the area of land required for the Project.  Certificate by the concerned and competent revenue/registration authority for the acquisition/ownership/vesting of the land in the name of the SPD.  Sworn affidavit from the Authorized person of the SPD listing the details of the land and certifying total land required for the Project under clear possession of the SPD.  A certified English translation from an approved translator in case above land documents are in languages other than English and Hindi.  The SPD shall submit line diagram of undertaking solar power project.

Satisfaction of conditions subsequent by the SPD a) The SPD agrees and undertakes to duly perform and complete all of the following activities at SPD’s own risk and cost within Nine (9) months from the Effective Date, i.e. by [insert the date which is Nine (9) months from the Effective Date of this agreement] unless such completion is affected by any Force Majeure event, or if any of the activities is specifically waived in writing by MAHAGENCO: The SPD shall make Project financing arrangements and provide necessary certificates to MAHAGENCO in this regard; b) The SPD shall enter into an Implementation Support Agreement with Solar Park Implementation Agency (SPIA) and/or Lease Deed/Right to Use Agreement (as applicable) with the SPPD for Land & associated infrastructure for development of the Project inside the Solar Park and for connectivity with the STU/CTU System for confirming the evacuation of power by the Scheduled Commissioning Date;. ………..The SPD shall submit to MAHAGENCO the relevant documents as stated above, complying with the Conditions Subsequent, within Nine (9) months from the Effective Date of this agreement.