KESC definition

KESC means the Karachi Electric Supply Corporation, a public limited company, incorporated under the Companies Act, 1913;

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KESC means the Karachi Electricity Supply Corporation established under the relevant laws of the Borrower and majority owned by the Borrower;

KESC means the Karachi Electric Supply Corporation;

Examples of KESC in a sentence

• KESC has full corporate power and authority to enter into and perform its obligations under this Agreement.

• In Pakistan, there are two major public sector utilities: the Water and Power Development Authority (WAPDA), which is a government owned statutory body, and the Karachi Electric Supply Company (KESC), which is a public limited liability company with predominantly government ownership.

• The scope of the Project comprises: Procuring and distributing 21-23 watt CFLs free of charge to households in the territory of the Borrower in exchange for, and hence to replace, incandescent bulbs currently used by these households through the distribution facilities of 8 DISCOs and KESC over a 28-month period with 2 procurement and distribution rounds.

• The foregoing shall be referred to as the “Bank Valuation Process.” The results of the Bank Valuation Process shall be binding on both KESC and GAM.

• KESC shall also be entitled to require that any KESC Director, and GAM shall also be entitled to require that any L-Group Director, be appointed as a non-executive director of each subsidiary of the Company and to be appointed to (a) any committee or sub-committee of or established by the Board (or any committee thereof) and (b) any committee or sub-committee of or established by the board of directors of any member of the Geostream Group.

• The Borrower shall pay to the Lenders amounts payable, if any, to such Lenders under Section 4.4. as a result of the prepayment of any such Advances.

• RUSSIAN VERSION OF AGREEMENT However, if the value of GAM held Shares determined pursuant to the Bank Valuation Process is less than the Minimum Value, GAM reserves the right to refuse to sell the GAM owned Shares to KESC unless, during a one year period beginning on the date that GAM gives KESC formal written notice that GAM is exercising its right to refuse to sell Shares for less than the Minimum Value, KESC is willing to pay the Minimum Value for the Shares.

• If KESC and GAM cannot agree on the banks, then they shall each choose a Russian bank (or other body authorized to perform such valuation) and a U.S. bank.

• KESC and GAM shall negotiate toward a Share valuation for 90 days prior to initiating the following Bank Valuation Process.

• Payment for all employees hired on or after July 1, 1998, shall be by direct deposit.

More Definitions of KESC

KESC means the Karachi Electricity Supply Corporation Limited, established under the Companies Ordinance, 1984, as amended;

KESC means the Karachi Electric Supply Company Limited or any successor thereto acceptable to ADB;