Appropriation of Bank Guarantee Sample Clauses

Appropriation of Bank Guarantee. The Solar Power Project shall be commissioned within 10 (ten) months from the Effective Date (as defined in the Draft PPA). In case of failure to achieve this milestone, KSPDCL shall encash the full Performance Bank Guarantee. In case of further delay, KSPDCL shall, without prejudice to its other rights and remedies hereunder or in law, be entitled to terminate this Agreement as per Clause 12 (Termination).
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Appropriation of Bank Guarantee. The Solar Power Project shall be commissioned within 13 months from the date of signing of PPA by SPD. In case of failure to achieve this milestone and failure by SPD to reinstate/renew LC amount not later than 30 days from its drawl/expiry, KSPDCL shall encash the Performance Bank Guarantee on per day basis and proportionate to the Capacity not commissioned with 100% encashment for 5 months delay. In case of further delay and the project is not commissioned within 25 months from the date of signing of PPA, KSPDCL shall, without prejudice to its other rights and remedies hereunder or in law, be entitled to terminate this Agreement and also the Land Sub Lease Agreement in accordance with the provisions of Article 12.2 & 12.3 of this agreement.
Sample 1
Appropriation of Bank Guarantee. The Solar Power Project shall be commissioned within 12 (twelve) months from the Effective Date (as defined in the Draft PPA). In case of failure to achieve this milestone, APGCL shall encash the full Performance Bank Guarantee. In case of further delay, APGCL shall, without prejudice to its other rights and remedies hereunder or in law, be entitled to terminate this Agreement as per Clause 12 (Termination)
Sample 1
Appropriation of Bank Guarantee. The Solar Power Project shall be commissioned within 15 months from the date of the signing of PPA. Unless extended by UPNEDA/UPPCL, in case of failure to achieve this milestone, LSPDCL shall en-cash the Performance Bank Guarantee on per day basis and proportionate to the Capacity not commissioned, with 100% encashment for 6 months delay. In case of further delay and the project is not commissioned within 21 months from the date of signing of PPA, LSPDCL shall, without prejudice to its other rights and remedies hereunder or in law, be entitled to terminate this Agreement.
Sample 1
Appropriation of Bank Guarantee. Upon occurrence of lessee event of Default, the NRDA shall, without prejudice to its other rights and remedies hereunder or in law, be entitled to encash and appropriate the relevant amounts from the Bank Guarantee as Lessee event of Default, Upon such encashment and appropriation from the Bank Guarantee , the Lessee shall, within 30 (thirty) days thereof furnish a top up Bank Guarantee or replenish the Bank Guarantee in case of partial appropriation in the manner such that the aggregate value of the Bank Guarantees equals to the required value. The NRDA shall be entitled to encash and appropriate such Bank Guarantees in event of lessee event of Default, and terminate this Agreement in accordance with Clause38. 12 The Lessee shall be responsible for construction and maintenance of necessary hutments for its labours within the project site along with providing power, drinking water, sanitation and other facilities at its own cost. The Lessee shall demolish all such hutments and remove the debris from site before completion of project at its own cost 13 The terms and conditions based on which the Tenderer is selected for allotment of plot shall be an integral part of the lease deed. 14 The lessee shall be responsible for obtaining all the statutory approvals/ permits/ License / permission including diversion of the land, environmental clearance, approval from tourism dept. etc. as required for the construction, development and operation and maintenance of the facilities on the plot at his own cost as required under the applicable laws.
Sample 1
Appropriation of Bank Guarantee. Upon occurrence of lessee event of Default, the NRDA shall, without prejudice to its other rights and remedies hereunder or in law, be entitled to encash and appropriate the relevant amounts from the Bank Guarantee as Lessee event of Default, Upon such encashment and appropriation from the Bank Guarantee , the Lessee shall, within 30 (thirty) days thereof furnish a top up Bank Guarantee or replenish the Bank Guarantee in case of partial appropriation in the manner such that the aggregate value of the Bank Guarantees equals to the required value. The NRDA shall be entitled to encash and appropriate such Bank Guarantees in event of lessee event of Default, and terminate this Agreement in accordance with Clause 38.
Sample 1
Appropriation of Bank Guarantee. The Solar Power Project shall be commissioned within 13 months from the date of signing of PPA. In case of failure to achieve this milestone, APSPCL shall encash the Performance Bank Guarantee on per day basis and proportionate to the Capacity not commissioned, with 100% encashment for 150 days delay. In case the project is not commissioned within the period stipulated by NTPC/MNRE and extension for COD is not granted by NTPC/MNRE, APSPCL shall, without prejudice to its other rights and remedies hereunder or in law, be entitled to terminate this Agreement and also the Land Lease Agreement without any liability to APSPCL.
Sample 1
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Related to Appropriation of Bank Guarantee

  • Bank Guarantee In addition to the Common Articles, it is specified that: In order to guaranty the proper execution of its contractual obligations pursuant to the Contract and/or Order(s), the Supplier shall issue in favor of the Purchaser a first demand and irrevocable performance bond from a first class bank or other financial institutes agreed by the Purchaser, to guaranty good performance by the Supplier of its obligations under the Contract. The Supplier shall issue the bond within thirty (30) days after issuance of the SPC or of the Order. Each performance bond shall amountto fifteen per cent (15%) of the total value of the concerned SPC and / or Order. Each performance bond shall expire when the relevant services have been fully performed in compliance with the Contract.

  • Appropriation of Funds Lessee intends to continue each Schedule to which it is a party for the Schedule Term and to pay the Rent and other amounts due hereunder. Lessee reasonably believes that legally available funds in an amount sufficient to pay all Rent during the Schedule Term can be obtained. Lessee further intends to act in good faith to do those things reasonably and lawfully within its power to obtain and maintain funds from which the Rent may be paid. Notwithstanding the foregoing, in the event sufficient funds are not appropriated to continue the Schedule Term for any fiscal period (as set forth on the Schedule) of Lessee beyond the fiscal period first in effect at the commencement of the Schedule Term, Lessee may terminate the Schedule with regard to those of the Assets on the Schedule so affected. Lessee shall endeavor to provide Lessor with written notice sixty (60) days prior to the end of its current Fiscal Period confirming which Assets on the Schedule will be so affected by the termination. All obligations of Lessee to make Rent Payments due with respect to those Assets after the end of the Fiscal Period for which such termination applies will cease, all interests of Lessee in those Assets will terminate, Lessee shall surrender those Assets in accordance with Section 15 (“Option to Extend; Surrender of Assets”) of this MOLA, and the applicable Schedule shall be deemed amended. Lessee represents and warrants it has adequate funds to meet its obligations during the first fiscal period of the Schedule Term. Lessor and Lessee intend that the obligation of Lessee to make Rent Payments under this MOLA shall constitute a current expense of Lessee and shall not in any way be construed to be a debt of Lessee in contravention of any applicable constitutional or statutory limitation or requirement concerning the creation of indebtedness by Lessee, nor shall anything contained herein constitute a pledge of the general revenues, funds or monies of Lessee or the State of Texas, as applicable, beyond the fiscal period for which sufficient funds have been appropriated to make Rent Payments hereunder.

  • Annual Appropriation of Funds Contractor acknowledges that the Contract term may extend over multiple City fiscal years, and that work and compensation under this Contract is contingent on the City Council appropriating funding for and authorizing such work and compensation for those fiscal years. This Contract may be terminated at the end of the fiscal year for which sufficient funding is not appropriated and authorized. City is not obligated to pay Contractor for any amounts not duly appropriated and authorized by City Council.

  • Termination for Non-Appropriation of Funds Notwithstanding any other provision of this Contract, the County shall not be obligated for the Contractor’s performance hereunder or by any provision of this Contract during any of the County’s future fiscal years unless and until the County’s Board of Supervisors appropriates funds for this Contract in the County’s Budget for each such future fiscal year. In the event that funds are not appropriated for this Contract, then this Contract shall terminate as of June 30 of the last fiscal year for which funds were appropriated. The County shall notify the Contractor in writing of any such non-allocation of funds at the earliest possible date.

  • Non-Appropriation of Funds This Contract is contingent upon the appropriation of sufficient funds by appropriate MPS officials. If funds are not appropriated, Contractor agrees to take back any commodities furnished under the Contract, terminate any services supplied to MPS under the Contract, and relieve MPS of any further obligations under the Contract.

  • Money Back Guarantee If we provide a money back guarantee ("MBG") for your Service, it will begin on your Service Ready Date. During this MBG period you may cancel your Service and receive a full refund of all monthly, one-time and equipment charges paid to Verizon (provided you return all Equipment in good working condition). If you fail to return the Equipment, an unreturned Equipment fee will apply. ETFs will not apply to Service terminated within the MBG period. The MBG does not apply to customers who change between or renew bundle, monthly, term or other pricing plans. The MBG is limited to one per Subscriber per Service type per Service address.

  • APPROPRIATION OF PAYMENTS 14.1 Any and all payments received by DBS from or for the account of the Cardmember may be applied and appropriated by DBS in relation to such Card Account for which the Cardmember is liable as DBS may determine or select and in relation to such of the entries or transactions constituting the Outstanding Balance on such Card Account as DBS may determine or select notwithstanding any specific appropriation by the person making the payment or any other person.

  • Limit of Appropriation 4.1 Consultant clearly understands and agrees, such understanding and agreement being of the absolute essence of this Agreement, that County shall have available the total maximum sum of three hundred thousand dollars and no/100 ($300,000.00), specifically allocated to fully discharge any and all liabilities County may incur.

  • Appropriation of payment by basic cardmember (a) Without prejudice to the other terms and conditions of this agreement, the basic cardmember hereby agrees and/or undertakes to procure that all payments required to be paid under this agreement from any source, will be made without any instruction to us as to the manner in which such payments are to be appropriated.

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