HIMACHAL PRADESH STATE ELECTRICITY BOARD       

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k)                  Payment & Invoicing: This aspect is covered in Article 6 and Article 8 of the Power Purchase Agreement. 

l)                 Insurance: this aspect is covered in Section 9.1 (h) of the Power Purchase Agreement. 

m)                  Force Majeure: Article 12 of the Power Purchase Agreement deals with this aspect only. 

n)                 Non-political events: Article 12 of the Power Purchase Agreement deals with this aspect also. 

o)                  Changes in Law of Taxes: In view of the fact that Power Purchase Agreement provides for a flat rate of purchase of power for the entire period of Agreement, this aspect has not been considered and incorporated in the Power Purchase Agreement.  However, as per provisions in the Power Purchase Agreement in terms of Section 8.8, in the event of any imposition(s) of levies, taxes, duties and cess etc. on generation of electricity, after the effective date, reimbursement thereof shall be provided by the Board to the Company on the quantum of Net Saleable Energy. 

p)                   Termination of Agreement: Sections 10.3, 10.4 and 10.6 read with Section 10.7 of the Power Purchase Agreement detail out the procedure with regard to termination of Agreement and also the consequences thereof. 

q)                  Liabilities & Indemnification: this aspect, in its generality, has been covered in Section 15.17 of the Power Purchase Agreement. 

r)                  Assign & Charges: Section 15.10 of the Power Purchase Agreement incorporates this aspect. 

s)                    Governing Law for Arbitration & Disputes: Section 13.2 of the Power Purchase Agreement discusses this aspect.

t)                   Confidentiality: Section  15.11 of the Power Purchase Agreement incorporates this aspect.

u)                 Miscellaneous Provisions : These have been discussed in detail in Article 15 of the Power Purchase Agreement.

v)                    Liquidated Damages : Article 16 of PPA incorporates this aspect. 

12.       The Power Purchase Agreement specifies the following: 

a)                  Duration of the Agreement:  Section 10.1 & 10.2 

b)                 Various circumstances that may necessitate the review of the Power Purchase Agreement: 

i)                    Introduction of TOD/Frequency linked energy

 account for own consumers by the Board Section 8.9

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