Payment on Order Instrument definition

Payment on Order Instrument or “POI” shall mean the irrevocable unconditional letter of undertaking issued by either of the three institutions, viz., (i) Indian Renewable Energy Development Agency Limited (IREDA), or (ii) Power Finance Corporation Limited, or (iii) REC Limited, as an alternative to submission of Performance Bank Guarantee by the SPD to SECI in the form attached hereto as Schedule 2;
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Payment on Order Instrument means the irrevocable unconditional letter of undertaking issued by either of the three institutions, viz., (i) Indian Renewable Development agency Limited (IREDA) or (ii) Power Finance Corporation Limited or (iii)
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Payment on Order Instrument means Letter of Undertaking from Indian Renewable Energy Development Agency Limited (IREDA) or Power Finance Corporation Limited (PFC) or REC Limited (REC) [the three non-banking financial institutions under Ministry of New & Renewable Energy (MNRE)/ Ministry of Power (MoP)], to pay in case situation of default of generator in terms of tender conditions/Power Purchase Agreement (PPA) arises. Such Letter(s) will have same effect as that of a Bank Guarantee issued by any public sector bank. Such "Payment on Order instrument" would have terms and conditions similar to that of any Bank Guarantee given by any public sector bank and would promise to pay the Procurer on demand within stipulated time. Generators can seek such Letters(s) by offering due security to the above mentioned three non-banking financial institutions mentioned above (IREDA, PFC & REC). Procurer(s) shall not accept the instrument of 'Letter of Undertaking' as described above or in any other form, from any other non-banking financial institutions or bank, except IREDA, PFC & REC.
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Examples of Payment on Order Instrument in a sentence

  • The maximum time period allowed for commissioning of the full Project Capacity with encashment of Performance Bank Guarantee/ Payment on Order Instrument shall be limited to 270 days after the SCD of the Project.

  • The Performance Security is furnished to ESCOM in the form of four (4) Bank Guarantees/ Payment on Order Instrument, each having a value equivalent to 25% of the total Performance Security furnish able by PHSP, in favor of “Managing Director” of the ESCOM as per the format provided in Schedule 2 and having validity up to twelve (12) months from the Scheduled Commissioning Date.


More Definitions of Payment on Order Instrument

Payment on Order Instrument means Letter of Undertaking from Indian Renewable Energy Development Agency Limited (IREDA) or Power Finance Corporation Limited (PFC) or REC Limited (REC) [the three non-banking financial institutions under Ministry of New & Renewable Energy (MNRE)/ Ministry of Power (MoP)], to pay in case situation of default of generator in terms of tender conditions/Power Purchase Agreement (PPA) arises. Such Letter(s) will have same effect as that of a Bank Guarantee issued by any public sector bank.
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Payment on Order Instrument means Letter of Undertaking from any agency as notified by the Government of India or State Governments from time to time for this purpose, to pay in case situation of default of Battery Storage System Developer (BSSD) in terms of tender documents and/or Battery Storage Purchase Agreement (BSPA) arises. Such Letter(s) will have same effect as that of a Bank Guarantee issued by any public sector bank. Such "Payment on Order instrument" would have terms and conditions similar to that of any Bank Guarantee given by any public sector bank and would promise to pay the Procurer on demand within stipulated time. BSSD can seek such Letters(s) by offering due security to the above mentioned three non-banking financial institutions mentioned above. Procurer(s) shall not accept the instrument of 'Letter of Undertaking' as described above or in any other form, from any other non- banking financial institutions or bank, except from the institutions as notified above.
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Payment on Order Instrument means Letter of Undertaking from Indian Renewable Energy Development Agency Limited (IREDA) or Power Finance Corporation Limited (PFC) or REC Limited (REC), to pay in case situation of default of Successful Bidder/Power Producer in terms of tender conditions/Power Purchase Agreement (PPA) arises. Such Letter(s) will have same effect as that of a Bank Guarantee issued by any public sector bank. Such "Payment on Order instrument" should have terms and conditions similar to that of any Bank Guarantee given by any public sector bank and would promise to pay the Procurer on demand within stipulated time.
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Payment on Order Instrument means Letter of Undertaking from Indian Renewable Energy Development Agency Limited (IREDA) or Power Finance Corporation Limited (PFC) or REC Limited (REC) [the three non-banking financial institutions under Ministry of New & Renewable Energy (MNRE)/ Ministry of Power (MoP)], to pay in case situation of default of solar power generator in terms of tender conditions/Power Purchase Agreement (PPA) arises. Such Letter(s) will have same effect as that of a Bank Guarantee issued by any public sector bank. Such "Payment on Order instrument" would have terms and conditions similar to that of any Bank Guarantee given by any public sector bank and would promise to pay the Procurer on demand within stipulated time. Solar power generators can seek such Letters(s) by offering due security to the above mentioned three non-banking financial institutions mentioned above (IREDA, PFC & REC). Procurer(s) shall not accept the instrument of 'Letter of Undertaking' as described above or in any other form, from any other non-banking financial institutions or bank, except IREDA, PFC & REC.11.2 Performance Bank Guarantee (PBG)/ Performance Guarantee (PG)11.2.1 Performance Guarantee (PG), to be fixed by the Procurer [but not to be more than 4% (four per cent), in case of site specified by the Procurer, and 5% (five per cent), in case of site selected by the Solar Power Generator, of the Project cost, as determined by CERC, if any, for the financial year in which the bids are invited or the estimated project cost] to be submitted at the time of signing of the PPA, in the form of:
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Related to Payment on Order Instrument

  • Redemption Order is defined in Section 2.6.

  • DEVIATION ORDER means any order given by the Engineer-in-Charge to effect an alteration, addition or deduction, which does not radically affect the scope and nature of the contract.

  • Medication order means a written or verbal order from a

  • Bar Date Order means the Order (I) Setting Bar Dates for Filing Proofs of Claim, Including Requests for Payment under Section 503(B)(9), (II) Establishing Amended Schedules Bar Date and Rejection Damages Bar Date, (III) Approving the Form of and Manner for Filing Proofs of Claim, Including Section 503(B)(9) Requests, and (IV) Approving Notice of Bar Dates [Docket No. 482], as such order may be amended, supplemented, or modified from time to time.

  • Confirmation Order means the order of the Bankruptcy Court confirming the Plan pursuant to section 1129 of the Bankruptcy Code.

  • adoption order (“gorchymyn mabwysiadu”) means an adoption order within the meaning of section 72(1) of the Adoption Act 1976 or section 46(1) of the Adoption and Children Act 2002;

  • Subscription Order means a request from an Authorised Participant delivered to the Issuer to issue ETP Securities.

  • The Advance Purchase Order or “Letter of Intent” means the intention of Purchaser to place the Purchase Order on the bidder.

  • Administration Order means the order of the Court dated 27 September 2020 placing inter alia the Group DOCA Companies into ADGM administration;

  • protection order means an order made in terms of section 18;

  • Stop Loss Order means an order placed to close a position once it hits a specific price in order to protect yourself from further losses and avoid potential close-outs/stop-outs.

  • confiscation order means an order made under—

  • Template Order Form means the template form in Annex 1 to Framework Schedule 4 (Template Order Form and Template Call Off terms);

  • Interim Compensation Order means the Order Establishing Procedures for Interim Compensation and Reimbursement of Expenses for Professionals [D.I. 2066].

  • Transfer Order means a transfer order issued pursuant to subsection 40(1) of the CCA transferring this Agreement from the LHIN to Ontario Health;

  • The Purchase Order means the order placed by the Purchaser on the Supplier signed by the Purchaser including all attachments and appendices thereto and all documents incorporated by reference therein. The purchase order shall be deemed as "Contract" appearing in the document.

  • Levy Order means an Order made by the Commission under paragraph 16 of the Schedule to the Act.

  • Sales Order means a request by you to receive the Services or a change or variation in respect of the same (but not a disconnection) which is submitted either (i) using the Order Form as made available to you by us, and/or (ii) such a request made orally and which is converted into an Order Form by us, which in either case shall constitute an offer by you for the provision of the Services subject to the terms of this Agreement;