Common use of PPD Clause in Contracts

PPD. The Buyer may avail of the PPD equivalent to one percent (1%) of the total of the Capacity and Energy Charges and other components of the current power bill, provided that: i. The Buyer has no arrears from previous power ▇▇▇▇▇▇▇▇ including the Security Deposit or any unpaid charges or penalties including VAT; ii. The Buyer has submitted all necessary Bureau of Internal Revenue (BIR) Tax Certificates for all taxes withheld; lll. The Buyer pays the power bill in full on or before the 10th day of the calendar month following the current Billing Period; and

PPD. The Buyer may avail of the PPD equivalent to one percent (1%) of the total of the Capacity and Energy Charges and other components of the current power billbill except the IMEM or the WESM charges and Replacement Power Cost, if any, provided that: i. 1. The Buyer has no arrears from previous power ▇▇▇▇▇▇▇▇ including the Security Deposit or any unpaid charges or penalties including VAT; ii. The Buyer has submitted all necessary Bureau of Internal Revenue (BIR) Tax Certificates for all taxes withheld; lll. The Buyer pays the power bill in full on or before the 10th day of the calendar month following the current Billing Period; and