Common use of Subsequent Revisions Clause in Contracts

Subsequent Revisions. In the month of April of the year subsequent to the grant of mine opening permission, basis the difference in the i) National Coal Index or National Lignite Index, as applicable, for the month of March of previous financial year and ii) National Coal Index or National Lignite Index, as applicable, at the time when mine opening permission was granted. In all subsequent years, in the month of April, basis the difference in the i) National Coal Index or National Lignite Index, as applicable for the month of March of previous financial year and ii) National Coal Index or National Lignite Index, as applicable for the month of March of previous to previous financial year. It is clarified that the date of grant of mine opening permission to be considered for the purpose of revision of the performance Security shall be the actual date or the date as prescribed in the efficiency parameters, whichever is earlier. (b) In case of any revision in rate of royalty, the amount of Performance Security shall be revised accordingly. Such revision shall take place at the beginning of the financial year which is subsequent to the financial year in which the rate of royalty is revised, as stipulated in Clause 6.1.5; and/or (c) In case of any revision in the peak rated capacity as a result of any revision in the mining plan in accordance with Clause 16, the amount of Performance Security shall be revised accordingly upon approval of revision to the Mining Plan. Such revision shall take place at the beginning of the financial year which is subsequent to the financial year in which the Mining Plan is revised, as stipulated in Clause 6.1.5.

Subsequent Revisions. In the month of April of the year subsequent to the grant of mine opening permission, basis the difference in the i) National Coal Index or National Lignite Index, as applicable, for the month of March of previous financial year and ii) National Coal Index or National Lignite Index, as applicable, at the time when mine opening permission was granted. In all subsequent years, in the month of April, basis the difference in the i) National Coal Index or National Lignite Index, as applicable for the month of March of previous financial year and ii) National Coal Index or National Lignite Index, as applicable for the month of March of previous to previous financial year. It is clarified that the date of grant of mine opening permission to be considered for the purpose of revision of the performance Security shall be the actual date or the date as prescribed in the efficiency parameters, whichever is earlier. (b) In case of any revision in rate of royalty, the amount of Performance Security shall be revised accordingly. Such revision shall take place at the beginning of the financial year which is subsequent to the financial year in which the rate of royalty is revised, as stipulated in Clause 6.1.5; and/or (c) In case of any revision in the peak rated capacity as a result of any revision in the mining plan in accordance with Clause 16, the amount of Performance Security shall be revised accordingly upon approval of revision to the Mining Plan. Such revision shall take place at the beginning of the financial year which is subsequent to the financial year in which the Mining Plan is revised, as stipulated in Clause 6.1.5. 6.