Common use of Satisfaction of Condition Precedent Clause in Contracts

Satisfaction of Condition Precedent. 2.8.3.1 The Conditions Precedents shall be fulfilled/ achieved within a period of twenty four (24) months from the Signature Date or such further period (upto a maximum of 180 days) as may be extended on account of Force Majeure under Clause 17 of this Agreement (“Condition Precedent Period”) The CPs set out in Clause 2,8,1 above shall be fulfilled to the satisfaction of Seller or waived by the Seller at its sole discretion in accordance with the option to be exercised by the Purchaser in the letter as per Schedule VII with regard to acceptance / surrender of supply of imported coal without affecting in any way the Seller’s obligations under this agreement. Within fifteen (15) days of achieving or waiving the CPs set out in Clause 2.8.1 as the case may be, the Seller shall issue a notice of satisfaction and notify to the Purchaser in writing. The Purchaser within fifteen (15) days from receipt of such notification shall issue a letter accepting the same.

Satisfaction of Condition Precedent. 2.8.3.1 The Conditions Precedents shall be fulfilled/ achieved within a period of twenty four (24) months from the Signature Date or such further period (upto a maximum of 180 days) as may be extended on account of Force Majeure under Clause 17 of this Agreement (“Condition Precedent Period”) The CPs set out in Clause 2,8,1 2.8.1 above shall be fulfilled to the satisfaction of Seller or waived by the Seller at its sole discretion in accordance with the option to be exercised by the Purchaser in the letter as per Schedule VII with regard to acceptance / surrender of supply of imported coal without affecting in any way the Seller’s obligations under this agreement. Within fifteen (15) days of achieving or waiving the CPs set out in Clause 2.8.1 as the case may be, the Seller shall issue a notice of satisfaction and notify to the Purchaser in writing. The Purchaser within fifteen (15) days from receipt of such notification shall issue a letter accepting the same.

Satisfaction of Condition Precedent. 2.8.3.1 The Conditions Precedents shall be fulfilled/ achieved within a period of twenty four (24) months from the Signature Date or such further period (upto up to a maximum of 180 days) as may be extended on account of Force Majeure under Clause 17 of this Agreement (“Condition Precedent Period”) The CPs set out in Clause 2,8,1 2.8.1 above shall be fulfilled to the satisfaction of Seller or waived by the Seller at its sole discretion in accordance with the option to be exercised by the Purchaser in the letter as per Schedule VII with regard to acceptance / surrender of supply of imported coal without affecting in any way the Seller’s obligations under this agreement. Within fifteen (15) days of achieving or waiving the CPs set out in Clause 2.8.1 as the case may be, the Seller shall issue a notice of satisfaction and notify to the Purchaser in writing. The Purchaser within fifteen (15) days from receipt of such notification shall issue a letter accepting the same.