Common use of Supply of Coal by Rail Clause in Contracts

Supply of Coal by Rail. 11.2.1 The Purchaser shall submit financial coverage ("Financial Coverage") in the form of a Banker's cheque / Demand Draft or Bank Guarantee, (issued by a Scheduled Bank acceptable to the Seller and in the format enclosed at Schedule-IV of this Agreement ) for an amount equal to the estimated As Delivered Price of Coal. In case of Bank Guarantee, Purchaser shall submit As delivered price of coal for the entire monthly quantity subject to a minimum amount equivalent to "Delivered Price" of coal of one rake load and in terms of rake load quantity in case of Banker's cheque / DD. In case the supply consist of different grades, As delivered price of coal shall be calculated on the base price of the highest grade of coal, as shown in Schedule-II. or The Purchaser shall open an Irrevocable Revoling Letter of Credit (IRLC) in favour of the Seller valid from the Effective Date up-till the following 31st March, for an amount equal to the estimated "As Delivered Price" of coal for the entire monthly quantity subjec to a minimum amount equivalent to "As Delivered Price" of one rake of linked grade of coal. The Purchaser shall ensure that the IRLC is periodically renewed at least one month prior to its expiry. The renewals shall each be for one year co-terminus with the end of the Year, of the term of this Agreement. The IRLC shall be in the format as per pro-forma at Schedule-IV. The Letter of Credit shall be opened at a Nationalised / Scheduled Bank at NAGPUR. The value of the IRLC shall be increased proportionately, within seven days of any increase in the "As Delivered Price" of coal.

Supply of Coal by Rail. 11.2.1 10.2.1 The Purchaser shall submit financial coverage ("Financial Coverage") in the form of a Banker's cheque / Demand Draft or Bank Guarantee, (issued by a Scheduled Bank acceptable to the Seller and in the format enclosed at Schedule-IV of this Agreement ) for an amount equal to the estimated As Delivered Price of Coal. In case of Bank Guarantee, Purchaser shall submit As delivered price of coal for the entire monthly quantity subject to a minimum amount equivalent to "Delivered Price" of coal of one rake load and in terms of rake load quantity in case of Banker's cheque / DD. In case the supply consist of different grades, As delivered price of coal shall be calculated on the base price of the highest grade of coal, as shown in Schedule-II. or The Purchaser shall open an Irrevocable Revoling Letter of Credit (IRLC) in favour of the Seller valid from the Effective Date up-till the following 31st March, for an amount equal to the estimated "As Delivered Price" of coal for the entire monthly quantity subjec to a minimum amount equivalent to "As Delivered Price" of one rake of linked grade of coal. The Purchaser shall ensure that the IRLC is periodically renewed at least one month prior to its expiry. The renewals shall each be for one year co-terminus with the end of the Year, of the term of this Agreement. The IRLC shall be in the format as per pro-forma at Schedule-IV. The Letter of Credit shall be opened at a Nationalised / Scheduled Bank at NAGPUR. The value of the IRLC shall be increased proportionately, within seven days of any increase in the "As Delivered Price" of coal.

Supply of Coal by Rail. 11.2.1 1 The Purchaser shall submit financial coverage ("“Financial Coverage"”) in the form of a Banker's cheque / ’s Cheque/Demand Draft or Bank Guarantee, (issued by a Scheduled scheduled Bank acceptable to the Seller and in the format enclosed at Schedule-Schedule - IV of this Agreement Agreement) for an amount equal to the estimated As Delivered Price of Coal. In case Coal for fifteen (15) days of Bank GuaranteeCoal supplies, Purchaser shall submit As delivered price of coal for the entire monthly quantity i.e. ACQ/24, subject to a minimum amount equivalent to "Delivered Price" As delivered Price of coal Coal of one rake load and rake-load, as indicated in terms of rake load quantity in case of Banker's cheque / DDthe notice by the Seller. In case the supply consist consists of different gradesGrades, the As delivered price Delivered Price of coal Coal shall be calculated on the base price Base Price of the highest grade of coalGrade, as shown in Schedule-Schedule II.. 2 Where the Financial Coverage is made in the form of bank guarantee (“Financial Coverage Bank Guarantee” or “Financial Coverage BG”) , such Financial Coverage BG shall be kept operative and valid by the Purchaser throughout the Term of Agreement and for a further period of one hundred eighty (180) days thereafter, encashable at (to be indicated by the Seller). or In case of any increase in the As Delivered Price of Coal, The amount of the Financial Coverage BG shall be increased commensurately within seven (7) days of such increase. The Purchaser shall open an Irrevocable Revoling Letter of Credit (IRLC) in favour ensure that at all times the amount of the Seller valid from the Effective Date up-till the following 31st March, for an amount equal to Financial Coverage BG is not less than the estimated "As Delivered Price" Price of coal Coal for the entire monthly quantity subjec fifteen (15) days of Coal supplies, i.e. ACQ/24, subject to a minimum amount equivalent to "As Delivered Price" Price of Coal of one rake rake-load of linked grade Coal and the As Delivered Price of coal. The Purchaser Coal shall ensure that take into account the IRLC is periodically renewed at least one month prior to its expiry. The renewals shall each be for one year co-terminus with the end Base Price of the Yearhighest Grade of Coal, of the term of this Agreement. The IRLC shall be as shown in the format as per pro-forma at Schedule-IV. The Letter of Credit shall be opened at a Nationalised / Scheduled Bank at NAGPUR. The value of the IRLC shall be increased proportionately, within seven days of any increase in the "As Delivered Price" of coalSchedule II.

Supply of Coal by Rail. 11.2.1 1 The Purchaser shall submit financial coverage ("“Financial Coverage"”) in the form of a Banker's cheque / ’s Cheque/Demand Draft or Bank Guarantee, (issued by a Scheduled scheduled Bank acceptable to the Seller and in the format enclosed at Schedule-Schedule - IV of this Agreement Agreement) for an amount equal to the estimated As Delivered Price of Coal. In case Coal for fifteen (15) days of Bank GuaranteeCoal supplies, Purchaser shall submit As delivered price of coal for the entire monthly quantity i.e. ACQ/24, subject to a minimum amount equivalent to "Delivered Price" As delivered Price of coal Coal of one rake load and rake-load, as indicated in terms of rake load quantity in case of Banker's cheque / DDthe notice by the Seller. In case the supply consist consists of different gradesGrades, the As delivered price Delivered Price of coal Coal shall be calculated on the base price Base Price of the highest grade of coalGrade, as shown in Schedule-Schedule II.. 2 Where the Financial Coverage is made in the form of bank guarantee (“Financial Coverage Bank Guarantee” or “Financial Coverage BG”) , such Financial Coverage BG shall be kept operative and valid by the Purchaser for 5 years (five years) from the First Delivery Date and for a further period of one hundred eighty (180) days thereafter, encashable at (to be indicated by the Seller). or In case of any increase in the As Delivered Price of Coal, The amount of the Financial Coverage BG shall be increased commensurately within seven (7) days of such increase. The Purchaser shall open an Irrevocable Revoling Letter of Credit (IRLC) in favour ensure that at all times the amount of the Seller valid from the Effective Date up-till the following 31st March, for an amount equal to Financial Coverage BG is not less than the estimated "As Delivered Price" Price of coal Coal for the entire monthly quantity subjec fifteen (15) days of Coal supplies, i.e. ACQ/24, subject to a minimum amount equivalent to "As Delivered Price" Price of Coal of one rake rake-load of linked grade Coal and the As Delivered Price of coal. The Purchaser Coal shall ensure that take into account the IRLC is periodically renewed at least one month prior to its expiry. The renewals shall each be for one year co-terminus with the end Base Price of the Yearhighest Grade of Coal, of the term of this Agreement. The IRLC shall be as shown in the format as per pro-forma at Schedule-IV. The Letter of Credit shall be opened at a Nationalised / Scheduled Bank at NAGPUR. The value of the IRLC shall be increased proportionately, within seven days of any increase in the "As Delivered Price" of coalSchedule II.