Common use of Purchaser’s Condition Precedent Clause in Contracts

Purchaser’s Condition Precedent. 1 The Purchaser shall have obtained from the lawful authority all necessary clearances, authorisations, approvals and permissions required for, construction, commissioning, operation and maintenance of the Plant 2 Purchaser shall have placed order for the procurement of main package (Boiler, Turbine, Generator) for the Power Plant. 3 The Purchaser shall have completed the construction of at least fifty percent (50%) of the Plant, as per the implementation schedule specified in detailed project report/ techno-economic feasibility report submitted during the validity of Letter of Assurance (LoA), and the completion of such fifty percent (50%) construction has been certified by an Independent Engineer within the Condition Precedent Period.