1
...

ARTICLE 2

SUPPLY, TERM AND TERMINATION

 
2
... ...
2.1

Subject to the terms and conditions contained herein and also in any Regulations, Transco agree to supply electricity in bulk to COMPANY at the Points of Supply as specified in schedule D and agrees to provide such supply at such other additional Points of Supply in the specified Area as the Parties may mutually agree from time to time.

2.2

This agreement shall commence on the Date of the Transfer and shall continue until it is terminated as provided in this clause. The Parties, however, agree to review the terms of this Agreement from time to time when requested to by either of the Parties and incorporate changes which the Parties may mutually agree subject to the approval of the Commission, if required in case of any difference or disagreement between the Parties in regard to any such changes required to the terms of this Agreement, the same shall be resolved in accordance with Article 11 of this Agreement.

2.3

The terms of this Agreement shall stand modified automatically as per the licenses, regulations or orders, which the Commission any issue from time to time in accordance with the functions and power of the Commission or by any other statutory body or authority such as the Central Electricity Regulatory Commission and the Central Transmission Utility under the applicable laws. As soon as practicable following any such Regulations of the Commission which has the effect of modifying the terms of this Agreement, the Parties shall prepare a revised version of this Agreement, incorporating the modified terms and following an agreement between the Parties that the revised version accurately reflects Regulation, the Parties shall execute the revised version. In case of any difference or disagreement between the Parties in regard to the above, the same shall be resolved in accordance with Articlew 11 of this Agreement.

2.4

Save as provided in Article 7 dealing with Force Majeure conditions Transco shall have the right to terminate this Agreement by service of written notice of termination or COMPANY in the event (a) COMPANY is in default of its obligations to ensure the maintenance of the Escrow Agreement and/or letters of credit in accordance with Article 5, or (b) COMPANY fails to pay the full amount of any Monthly Invoice on the date on which the same shall have become payable in accordance with Article 5 and such failure is not remedied to the satisfaction of Transco within a period of 60 days from the date of the service of the notice Provided that the Transco's right to terminate the agreement in terms of this clause shall be without prejudice to its other rights.

2.5

This Agreement shall terminate forthwith in the following events :-

 
A1
... ...

(a)

cancellation or revocation of licence given to the COMPANY for undertaking the distribution and retail supply in the specified Area; and

(b)

liquidation or winding up of the COMPANY

2.6

Upon termination of this Agreement pursuant to clauses 2.4 and 2.5 and subject to any order that may be passed by the Commission :

 
article
... ...

(a)

Transco shall prepare and deliver to the COMPANY a final invoice setting out all amounts which are outstanding from the COMPANY to Transco whether pursuant to Article 5 or for electrical energy supplied but in respect of which no invoice shall have been prepared at the date of termination, together with reasonable costs incurred by Transco in connection with the termination of the Agreement; if the COMPANY disputes the reasonability of the cost, the same shall be resolved in accordance with Article 11 of this Agreement;

(b)

The COMPANY shall pay to Transco, within 15 days upon service of such final invoice, without deduction, set-off or withholding on any account whatsoever, the amount of such invoice.

 

|Home| |Power System in Delhi| |About Electricity| |Directory|  
|Contact Us| |Tender Info| |Bulletin Board| |Search|