The Procurement Contract Clause Samples

The Procurement Contract. 3.1.1 Subject to and in accordance with the provisions of this Agreement, Applicable Laws and the Applicable Permits, the Utility hereby awards to the Aggregator the procurement contract set forth herein for supply of electricity thereof to the Utility (the “Procurement Contract”) for a period of 3 (Three) years commencing from the Appointed Date, and the Aggregator hereby accepts the Procurement Contract and agrees to implement the same subject to and in accordance with the terms and conditions set forth herein. 3.1.2 Subject to and in accordance with the provisions of this Agreement, the Procurement Contract hereby awarded shall oblige or entitle (as the case may be) the Aggregator to: (a) ensure to procure Availability of the Contracted Capacity for supply of electricity thereof to the Utility under and in accordance with the provisions of this Agreement, save and except as expressly provided in the Agreement; (b) to receive Tariff and Trading Margin in accordance with the provisions of this Agreement; (c) perform and fulfil all of the Aggregator‟s obligations under and in accordance with this Agreement; (d) save as otherwise expressly provided in this Agreement, bear and pay all costs, expenses and charges in connection with or incidental to the performance of the obligations of the Aggregator under this Agreement; and (e) neither assign, transfer or sub-let or create any lien or Encumbrance on this Agreement, or the Procurement Contract hereby granted or on the whole or any part of the Power Station nor sell, transfer, exchange, lease or part possession thereof, save and except as expressly permitted by this Agreement”