SECURITY DEPOSIT (SD). 3.1 The Purchaser is required to 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-III 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-III, 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 enclosed format (“SD Bank Guarantee”) with this Agreement at Schedule-II. and issued from a Bank acceptable to the Seller. ’]
Appears in 3 contracts
Samples: Model Fuel Supply Agreement, Model Fuel Supply Agreement, Model Fuel Supply Agreement
SECURITY DEPOSIT (SD). 3.1 The Purchaser is required to deposit with the withthe Seller a sum of [Rs of[Rs [•] (Indian Rupees [•] ] equivalent to six percent (6%) of the Base Price of such Grade of Coal, as described in Schedule-III 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-III, 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 enclosed format (“SD Bank Guarantee”) with this Agreement at Schedule-IIIII. and issued from a Bank acceptable to the Seller. ’]
Appears in 1 contract
Samples: Supply Agreement
