ROOFTOP ON EMI/DEFERRED PAYMENT (DP)

ROOFTOP ON EMI/DEFERRED PAYMENT (DP)

DEFERRED PAYMENT (DP)/EMI (the payment model) means the buyer/offtaker has requested the SNAD/ “Investor”/Lessor of the “project” to purchase the equipment and install the solar power plant at the “Premises” under DEFERRED PAYMENT(DP)/EMI (the payment model) wherein buyer / offtaker will pay for the cost of equipment on monthly basis after the “Conversation” as this LOI shall convert into an “Agreement” (LEASE ) in form of EMIs in 5 years. EMI calculations need to be done to arrive at monthly EMI which is commercially viable for both SNAD / partner/ Investor and offtaker. Agreement including the Recitals and Annexure hereto include amendments, modifications, and supplements made in writing by the Parties from time to time in accordance with the terms hereof.

In this model, the Lessee acknowledges, confirms, and declares that during the subsistence of this Lease, it holds the Equipment as a mere bailee of the Lessor and that except to what is stated hereinabove, it shall not have any proprietary right, title, or interest in the Equipment or any part thereof and shall at all times, protect and defend as bailee / Lessee of the Equipment, the Lessor’s absolute and paramount ownership right and title thereto and that it shall not at any time, advance or make any claim adverse to or in derogation of the Seller/“Investor” of “Solar power rooftop “Project”: the Lessor’s absolute and permanent ownership right and title.

If you own or operate a large structure, such as an industrial unit, hospital, hotel, school, college, or corporate office, you’ve probably contemplated using rooftop solar PV to meet some of your energy needs. After all, the advantages are compelling: cheaper power bills, lower generator usage, export of surplus electricity to the grid over the holidays, clean energy credentials, and a competitive long-term return on investment (ROI).However, it is likely that you are among the hundreds of users who have not implemented your plan because of the high initial capital cost.

ADOPT ROOFTOP SOLAR AT YOUR FACILITY WITH NO COLLATERAL SECURITY

Benefits

There are many advantages of installing a solar system on EMI -:

• • Choosing a solar system on EMI as your financing choice can save you 40 to 70 percent on electricity costs over the life of your system.
  • You can start saving money right away as your monthly electric bill savings are greater than the solar system loan’s monthly payment.

The SNAD shall install, use and operate the Equipment carefully and maintain the same in good working condition and repair at its own cost and expenses in conformity with the instructions or operational manuals given by the Manufacturer and The buyer / offtaker / Lessee will comply with the support of SNAD with all statutory operation and other requirements of the law, rules, regulations, maintenance, and directions as applicable to the storage or/and repairs, installation use, and operations of the Equipment, SNAD with the support of The buyer / offtaker / Lessee ensure that the Equipment is operated by suitably trained personnel for the purpose for which it is designed and not to do or omit to be done any act or thing by which the warranties and performance guarantees given by the manufacturer would be invalidated or become unenforceable wholly or partly. The buyer / offtaker / Lessee with the documentary support of SNAD shall obtain and keep effective all necessary licenses, permissions, and consents for the storage, installation and use, and operation of the Equipment and furnish the same to the Lessor on demand.