Common use of Payment Security Clause in Contracts

Payment Security. 11.1 The Buyer shall provide to each of the Sellers (as per the percentage interest share as provided by Vedanta) as security for its payment obligations hereunder an irrevocable, unconditional, on payment security bank guarantee from a reputed bank of good standing, acceptable to the Sellers, in favour of the Sellers, for an amount specified in Clause 11.2 below, in a form provided at Annexure 7, to be in place from the Start Date. Bank Guarantee in favour of Vedanta and ONGC shall be in INR and for CEHL shall be in USD. In case if Buyer is unable to provide BG to CEHL in USD, they may provide the BG in INR, payable in USD by BG issuing bank directly to overseas account on invocation.

Payment Security. 11.1 11.1. The Buyer shall provide to each of the Sellers (as per the percentage interest share as provided by Vedanta) as security for its payment obligations hereunder an irrevocable, unconditional, on payment security demand bank guarantee from a reputed bank of good standing, acceptable to included in the Sellerslist provided in Annexure - 8, in favour of the Sellers, for an amount specified in Clause 11.2 below, in a form provided at Annexure 76, to be in place from prior to the Start Date. Bank Guarantee in favour of Vedanta and ONGC shall be in INR and for CEHL shall be in USD. In case if Buyer is unable to provide BG to CEHL in USD, they may provide the BG in INR, payable in USD by BG issuing bank directly to overseas account on invocation.

Payment Security. 11.1 The Buyer shall provide to each of the Sellers (as per the percentage interest share as provided by VedantaXxxxxxx) as security for its payment obligations hereunder an irrevocable, unconditional, on payment security demand bank guarantee from a reputed bank of good standing, acceptable to included in the Sellerslist provided in Annexure - 8, in favour of the Sellers, for an amount specified in Clause 11.2 below, in a form provided at Annexure 76, to be in place from prior to the Start Date. Bank Guarantee in favour of Vedanta and ONGC shall be in INR and for CEHL shall be in USD. In case if Buyer is unable to provide BG to CEHL in USD, they may provide the BG in INR, payable in USD by BG issuing bank directly to overseas account on invocation.

Payment Security. 11.1 11.1. The Buyer shall provide to each of the Sellers (as per the percentage interest share as provided by Vedanta) as security for its payment obligations hereunder an irrevocable, unconditional, on payment security demand bank guarantee from a reputed bank of good standing, acceptable to included in the Sellerslist provided in Annexure - 8, in favour of the Sellers, for an amount specified in Clause 11.2 below, in a form provided at Annexure 76, to be in place from the Start Dateon or before 27th September 2023. Bank Guarantee in favour of Vedanta and ONGC shall be in INR and for CEHL shall be in USD. In case if Buyer is unable to provide BG to CEHL in USD, they may provide the BG in INR, payable in USD by BG issuing bank directly to overseas account on invocation.

Payment Security. 11.1 The Buyer shall provide to each of the Sellers (as per the percentage interest share as provided by Vedanta) as security for its payment obligations hereunder an irrevocable, unconditional, on payment security demand bank guarantee from a reputed bank of good standing, acceptable to the Sellers, in favour of the Sellers, for an amount specified in Clause 11.2 below, in a form provided at Annexure 7, to be in place from prior to the Start Date. Bank Guarantee in favour of Vedanta and ONGC shall be in INR and for CEHL shall be in USD. In case if Buyer is unable to provide BG to CEHL in USD, they may provide the BG in INR, payable in USD by BG issuing bank directly to overseas account on invocation.

Payment Security. 11.1 The Buyer shall provide to each of the Sellers (as per the percentage interest share as provided by VedantaXxxxxxx) as security for its payment obligations hereunder an irrevocable, unconditional, on payment security bank guarantee from a reputed bank of good standing, acceptable to the Sellers, in favour of the Sellers, for an amount specified in Clause 11.2 below, in a form provided at Annexure 7, to be in place from the Start Date. Bank Guarantee in favour of Vedanta and ONGC shall be in INR and for CEHL shall be in USD. In case if Buyer is unable to provide BG to CEHL in USD, they may provide the BG in INR, payable in USD by BG issuing bank directly to overseas account on invocation.