Guarantee Fund. 3.6.1 A fund of INR 100,00,00,000 (Indian Rupees One Hundred Crores only) for every 1 (one) Giga Watt or part thereof of commissioned projects under the MSKVY 2.0 shall be earmarked and a revolving credit guarantee for enhancing payment security for the solar power developers under MSKVY 2.0 has been established (“Guarantee Fund”). 3.6.2 In the event of any default by MSEDCL to make any payment to the Project SPV for a period extending beyond 3 (three) months from the due date (as per the terms of the Power Purchase Agreement), MSAPL shall have the right, at its sole discretion, to pay such defaulted amounts to the Project by debiting amounts from the Guarantee Fund.
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Sources: Implementation Agreement, Implementation Agreement, Implementation Agreement