Common use of Satisfaction of conditions subsequent by the SPD Clause in Contracts

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;

Appears in 2 contracts

Sources: Power Purchase Agreement, Power Purchase Agreement