BECL definition
Examples of BECL in a sentence
BECL hereby agrees to demise to the Company, the Site by way of an exclusive sub-lease, together with all rights, easements, and privileges appurtenant thereto, to be held and enjoyed by the Company for the purposes of the Project (as hereinafter defined), upon the terms and conditions specified in this Site Lease Agreement.
BECL shall not assign or transfer any of its rights and obligations under this Site Lease Agreement or under the Master Lease Deed (to the extent sub-leased to the Company hereunder) without the prior written consent of the Company.
BECL acknowledges the receipt of the aforesaid payment shall be made upfront as full and final lease payment due from the Company in respect of leasehold rights being granted hereunder and the same shall be credited in the designated account of BECL notified in writing to the Company.
However, no Late Payment Surcharge shall be payable by the Company if there subsists at the time of payment of the lease payments under this Site Lease Agreement, a breach by the Purchaser under the Energy Purchase Agreement or by the BECL under this Site Lease Agreement.
The Parties agree that in the event of any delay in handing over the possession of the Site to BECL as aforesaid, BECL shall be entitled to deduct corresponding lease payments for such period of delay plus the imposition of Late Payment Surcharge.
The Company shall not be liable to pay to the GOB or any Public Sector Entity, any additional amounts, rates, charges, taxes, levies, cesses or other impositions of whatever nature and howsoever called in relation to the sub-lease of the Site by BECL to the Company hereunder, except any such demand on account of default by the Company of this Site Lease Agreement.
Upon such handing over possession of the Site to BECL as aforesaid, BECL shall immediately refund to the Company, the full and final lease payments paid by the Company to BECL in advance.
As a further commitment to enhancing the adoption of renewable sources for power generation, the Company is encouraged to undertake the plantation of Jatropha or other similar plants producing bio fuel throughout the Term of this Site Lease Agreement, subject, however, to soil conditions to be verified by BECL.
At the request of the Company, BECL shall execute and deliver acknowledgements to the Lenders with respect to any assignment granted to the Lenders pursuant to this Clause 5.2, and the rights of such parties in and to this Site Lease Agreement, as the Lenders may reasonably request in accordance with customary practices in transactions of this nature.
Set out in Schedule R to the Disclosure Letter is a summary of all potential material non-compliance matters identified by the CNSC, other than potential material non-compliance matters that BE, ▇▇▇▇▇, BECL, BPLP and BPI have no reason to believe or Knowledge were not resolved to the satisfaction of the CNSC, and other than the correspondence and/or documents with or from the CNSC listed in the Disclosure Letter.