Free Legal Form

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I) Applicability 3 II) Definitions 4 III) Disbursement, Interest, other charges and Repayment 5-11 IV) Borrower s warranties 12-13 V) Pre disbursement conditions 14-16 VI) Conditions applicable during currency of Loan Agreement 17-30 Project Financing of Project General Covenants Nominee Director Management VII) Reports 31 VIII) Inspection 32-33 IX) Events of default and remedies 34-40 X) Cancellation, suspension and termination 41-42 XI) Waiver 43 XII) Miscellaneous 44 -3- ARTICLE I APPLICABILITY The General Conditions set out herein shall, if the Loan Agreement so provides, be applicable to the assistance provided by Indian Renewable Energy Development Agency Limited (IREDA).. ( ) To be increased to 6.5 for loans sanctioned for Wind Farm Project Section 3.11 - APPROPRIATION OF PAYMENTS (a) Unless otherwise agreed to by IREDA, any payments due and payable under the Loan Agreement and made by the Borrower shall be appropriated towards such dues in the following order, viz., I) Premium on prepayment II) Costs, charges, expenses and other monies III) Interest on costs, charges and expenses and other monies -11- IV) Interest including additional interest, payable in terms of the Loan Agreement V) Further interest and liquidated damages on defaulted amounts VI) Repayment of instalments of principal due and payable under the Loan Agreement (b) Notwithstanding anything contained in Clause (a) hereinabove IREDA may at its discretion, appropriate such payments towards the dues, if any, payable by the Borrower in respect of earlier loan(s) availed of by the Borrower from IREDA in the order specified in the relative Loan Agreement.. If for any reason, the Borrower is required to prepay any loan, it shall make proportionate prepayment to IREDA as well as subject to such conditions as may be stipulated by IREDA d) COMMISSION Pay any commission to its promoters, directors, managers, or other persons for furnishing guarantees, counter guarantees or indemnities or for unde 

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