HPSEBL definition
Examples of HPSEBL in a sentence
The Company shall sell and the HPSEBL shall purchase at the Interconnection Point, the Net Saleable Energy i.e. the Energy received from the Project at the Interconnection Point.
Notwithstanding the above, the HPSEBL shall have the right to assign the Agreement to any entity assuming all or part of the HPSEBL's rights and obligations in connection with the purchase of electrical output provided, however, that such transfer does not materially and adversely affect the ability of the transferee to perform its obligations under the Agreement.
The Company shall not unfairly discriminate against the HPSEBL under the Agreement with respect to its obligations and discretion hereunder.
The occurrence and continuation of any of the following events, unless any such event occurs as a result of Force Majeure event or a breach by the Company of its obligations under the Agreement, shall constitute the "HPSEBL Event of Default".
All persons visiting the Project on behalf of the HPSEBL shall comply with the reasonable instructions and directions of the Company or its contractors.
If the Company fails to achieve the required contracted capacity within a period of 90 days from the date of Commercial Operation of the Unit/Project, the Company shall be liable to pay Liquidated Damages to the HPSEBL @ Rs. 4000/- per kW for the shortfall between the contracted and the tested capacities.
This letter of credit shall be opened by the HPSEBL within a period of thirty days from the Commercial Operation Date of the Project.
If resolution of any dispute requires the Company or the HPSEBL to reimburse to the HPSEBL or to the Company, the amount to be reimbursed shall bear interest, for the number of days from the Due Date of Payment by the HPSEBL or by the Company upto the Date of Reimbursement, at the rate equivalent to the prevailing prime lending rate of State Bank of India.
The Company and the HPSEBL undertake not to engage in any of the said or similar acts during the term of and relative to the Agreement.
The HPSEBL will hold the Company and/or its Contractors fully indemnified in respect thereof.