Appropriation of Construction Performance Security for Construction Works. 9.2.1. In the event the Concessionaire fails to achieve the Scheduled Commercial Operation Date in accordance with Schedule 5 due to reasons other than ULB Event of default or Force Majeure, the ULB shall, without prejudice to its other rights and remedies hereunder or in law,be entitled to encash and appropriate the relevant amounts from the Construction Performance Security as Damages in the following manner: Sr. No. Period of Delay Damages
Appropriation of Construction Performance Security for Construction Works. Upon occurrence of a Concessionaire Event of Default resulting in a delay of commissioning of the Project beyond the Commercial Operation Date, the Lead ULB shall, without prejudice to its other rights and remedies hereunder or in law, be entitled to encash and appropriate the relevant amounts from the Construction Performance Security as Damages for such Concessionaire Event of Default in the following manner:
Appropriation of Construction Performance Security for Construction Works. 9.2.1 Upon occurrence of a Concessionaire Event of Default resulting in a delay of commissioning of the Project beyond the Commercial Operation Date, Construction Supervisor in consultation with the ULB shall, without prejudice to its other rights and remedies hereunder or in law, be entitled to encash and appropriate the relevant amounts from the Construction Performance Security as Damages for such Concessionaire Event of Default in the following manner:
