Appropriation of Performance Guarantee and/or Security Deposit Sample Clauses

Appropriation of Performance Guarantee and/or Security Deposit. Upon occurrence of a Concessionaire Default or failure to meet any Condition Precedent, Maha-Metro shall, without prejudice to its other rights and remedies hereunder or in law, be entitled to encash and appropriate the relevant amounts from the Performance Guarantee and/or the Security Deposit as Damages for such Concessionaire Default or failure to meet any Condition Precedent. Upon such encashment and appropriation from the Performance Guarantee and/or the Security Deposit, the Concessionaire shall, within 30 (thirty) days thereof, replenish, in case of partial appropriation, to its original level, the Performance Guarantee and/or the Security Deposit, and in case of appropriation of the entire Performance Guarantee and/or the Security Deposit provide a fresh Performance Guarantee and/or the Security Deposit, as the case may be, and the Concessionaire shall, within the time so granted, replenish or furnish fresh Performance Guarantee and/or the Security Deposit as aforesaid failing which Maha-Metro shall be entitled to terminate this Agreement in accordance with Article 27. Upon replenishment or furnishing of a fresh Performance Guarantee and/or the Security Deposit, as the case may be, as aforesaid, the Concessionaire shall be entitled to an additional Cure Period of 90 (ninety) days for remedying the Concessionaire Default, and in the event of the Concessionaire not curing its default within such Cure Period, Maha-Metro shall be entitled to encash and appropriate such Performance Guarantee as Damages, and to terminate this Agreement in accordance with Article 29.
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Related to Appropriation of Performance Guarantee and/or Security Deposit

  • Definitions As used in this Agreement, the following terms shall have the following meanings:

  • Severability Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

  • WHEREAS the Company desires the Warrant Agent to act on behalf of the Company, and the Warrant Agent is willing to so act, in connection with the issuance, registration, transfer, exchange, redemption and exercise of the Warrants; and

  • NOW, THEREFORE the parties hereto agree as follows:

  • Dimensions Education Bachelor’s or Master’s Degree in Computer Science, Information Systems, or other related field. Or equivalent work experience. Experience: A minimum of 5 years of IT work experience with demonstrated knowledge in architecture design, software development, database management systems and systems integration in multi-platform environments.

  • Termination This Agreement may be terminated at any time prior to the Closing:

  • IN WITNESS WHEREOF the parties hereto have executed this Agreement as of the day and year first above written.

  • Entire Agreement This Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter contained in this Agreement and supersedes all prior agreements, understandings and negotiations between the parties.

  • Notices Any notice, request or other document required or permitted to be given or delivered to the Holder by the Company shall be delivered in accordance with the notice provisions of the Purchase Agreement.

  • Definitions and Interpretation 1.1 In this Agreement:

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