Restriction of Shareholders / Owners’ Liability. 17.8.1 Parties expressly agree and acknowledge that none of the shareholders of the Parties hereto shall be liable to the other Parties for any of the contractual obligations of the concerned Party under this Agreement. Further, the financial liabilities of the shareholder/s of each Party to this Agreement, shall be restricted to the extent provided in the Indian Companies Act, 2013.
Restriction of Shareholders / Owners’ Liability. Parties expressly agree and acknowledge that none of the shareholders of the Parties hereto shall be liable to the other Parties for any of the contractual obligations of the concerned Party under this PPA. Further, the financial liabilities of the shareholder/s of each Party to this PPA, shall be restricted to the extent provided in the Companies Act, 2013.
Restriction of Shareholders / Owners’ Liability. Parties expressly agree and acknowledge that none of the shareholders of the Parties hereto shall be liable to the other Parties for any of the contractual obligations of the concerned party under this Agreement. Further, the financial liabilities of the shareholder/s of each Party to this Agreement, in such Party, shall be restricted to the extent provided by law.
Restriction of Shareholders / Owners’ Liability. 17.8.1 Parties expressly agree and acknowledge that none of the shareholders of the SPD hereto shall be liable to MSPDCL or its Partner/Beneficiary States for any of the contractual obligations of the SPD under this Agreement. Further, the financial liabilities of the shareholder/s of SPD to this Agreement, shall be restricted to the extent provided in the Indian Companies Act, 2013.
Restriction of Shareholders / Owners’ Liability. Parties expressly agree and acknowledge that none of the shareholders of the Parties hereto shall be liable to the other Parties for any of the contractual obligations of the concerned party under this Agreement. Further, the financial liabilities of the shareholder/s of each Party to this Agreement, in such Party, shall be restricted to the extent provided in Section 426 of the Indian Companies Act, 1956. The provisions of this Article shall super cede any other prior agreement or understanding, whether oral or written, that may be existing between the Procurer, Seller, shareholders/ owners of the Seller, shareholders/ owners of the Procurer or the Selected Bidders before the date of this Agreement, regarding the subject matter of this Agreement.
Restriction of Shareholders / Owners’ Liability. 17.8.1 Parties expressly agree and acknowledge that none of the shareholders of the SPD hereto shall be liable to JDA or its Partner/Beneficiary States for any of the contractual obligations of the SPD under this Agreement. Further, the financial liabilities of the shareholder/s of SPD to this Agreement, shall be restricted to the extent provided in the Indian Companies Act, 2013. Whereas JDA is a body constituted under Jaipur Development Authority Act 1982 (Act. 25) as a statutory vehicle to implement the urban development of Jaipur as envisaged by the Department of Urban Development and Housing, Government of Rajasthan. There is no shareholding exist in JDA. Thus, Parties also agree and acknowledge that the financial and contractual liabilities of JDA to this agreement, shall be restricted to JDA only and to the extent provided in the Jaipur Development Authority Act 1982 (Act. 25).
Restriction of Shareholders / Owners’ Liability. Parties expressly agree and acknowledge that none of the shareholders of the Parties hereto shall be liable to the other Parties for any of the contractual obligations of the concerned Party under this PPA. Further, the financial liabilities of the shareholder/s of each Party to this PPA, in such Party, shall be restricted to the extent provided in Section 426 of the Indian Companies Act, 1956 as amended or replaced. The provisions of this Article 18.15 shall supersede any other prior PPA or understanding, whether oral or written, that may be existing between Procurer, Power Producer, shareholders/ owners of the Power Producer or shareholders/ owners of Procurer before the date of this PPA, regarding the subject matter of this PPA.
