draft standard transmission service agreement for ... - Ministry of Power

ARTICLE: 2
Draft Standard Transmission Services Agreement
2 EFFECTIVENESS AND TERM OF AGREEMENT
2.1 Effective Date:
This Agreement shall be effective from later of the dates of the following
events:
.
a. The Agreement is executed and delivered by the Parties; and
b. The Selected Bidder has acquired for the Acquisition Price,
one hundred percent (100%) of the equity shareholding of
………………. [Insert Name of the Holding Company] in
…………………. [Insert Name of the SPV] along with all its
related assets and liabilities as per the provisions of the Share
Purchase Agreement, and
c. The Selected Bidder, on behalf of the TSP, has provided the
Contract Performance Guarantee, as per terms of Article 3.1 of
this Agreement.
2.2 Term and Termination:
2.2.1 Subject to Article 2.2.2 and Article 2.4, this Agreement shall continue to
be effective in relation to the Project until the Expiry Date, when it shall
automatically terminate unless extended by the Appropriate Commission
for such period and on such terms and conditions as the Appropriate
Commission may specify in this regard in terms of the procedures laid
down by the Appropriate Commission for such matters.
2.2.2 This Agreement shall terminate before the Expiry Date:
a. If a Termination Notice is served in accordance with Article 13
i. by the Majority Long Term Transmission Customers following
a TSP Event of Default; or
ii. by the TSP following the Long Term Transmission Customers
Event of Default;
b. If the Long Term Transmission Customers or the TSP serves a
Termination Notice in accordance with Article 3.3.2 and 3.3.4.
[Insert Name of the TSP] Page 18 of 109