SECURITY DEPOSIT (SD). 3.1 The Purchaser shall deposit with the Seller a sum of [Rs. (Indian Rupees )] equivalent to six percent (6%) of the Base Price of such Grade of Coal, as described in Schedule-II to this Agreement, prevalent on the date of deposit multiplied by ACQ, as Security Deposit (SD), in cash / Bank Guarantee on or before the signing of this Agreement. In case of multiple Grades indicated in Schedule-II, the highest Grade shall be considered for the purpose of calculation of SD without any commitment whatsoever to supply such Grade of Coal. Such Security Deposit shall be non-interest bearing. [In case the SD is in the form of a bank guarantee, the same shall be provided in the format enclosed with this Agreement at Schedule-III (“SD Bank Guarantee”)’]
Appears in 4 contracts
Samples: Supply Agreement, www.westerncoal.in, westerncoal.in
SECURITY DEPOSIT (SD). 3.1 The Purchaser shall deposit with the Seller a sum of [Rs. (Indian Rupees )] equivalent to six percent (6%) of the Base Price of such Grade of Coal, as described in Schedule-II to this Agreement, prevalent on the date of deposit multiplied by ACQ, as Security Deposit (SD), in cash / Bank Guarantee on or before the signing of this Agreement. In case of multiple Grades indicated in Schedule-II, the highest Grade shall be considered for the purpose of calculation of SD without any commitment whatsoever to supply such Grade of Coal. Such Security Deposit shall be non-interest bearing. [In case the SD is in the form of a bank guarantee, the same shall be provided in the format enclosed with this Agreement at Schedule-III (“SD Bank Guarantee”)’]
Appears in 4 contracts
Samples: Date of Agreement, Date of Agreement, Date of Agreement
SECURITY DEPOSIT (SD). 3.1 The Purchaser shall deposit with the Seller a sum of [Rs. (Indian Rupees )] equivalent to six percent (6%) of the Base Price of such Grade of Coal, as described in Schedule-II to this Agreement, prevalent on the date of deposit multiplied by ACQ, as Security Deposit (SD), in cash / Bank Guarantee on or before the signing of this Agreement. In case of multiple Grades indicated in Schedule-II, the highest Grade shall be considered for the purpose of calculation of SD without any commitment whatsoever to supply such Grade of Coal. Such Security Deposit shall be non-interest bearing. [In case the SD is in the form of a bank guarantee, guarantee the same shall be provided in the enclosed format enclosed (“SD Bank Guarantee”) with this Agreement at Schedule-III (“SD Bank Guarantee”)III.’]
Appears in 2 contracts
Samples: Supply Agreement, Supply Agreement
