Common use of Appropriation of Performance Security Clause in Contracts

Appropriation of Performance Security. (i) Upon occurrence of a Contractor’s Default, the Authority 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 Security as Damages for such Contractor’s Default. (ii) Upon such encashment and appropriation from the Performance Security, the Contractor shall, within 30 (thirty) days thereof, replenish, in case of partial appropriation, to its original level the Performance Security, and in case of appropriation of the entire Performance Security provide a fresh Performance Security, as the case may be, and the Contractor shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate the Agreement in accordance with Article 23. Upon replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Contractor shall be entitled to an additional Cure Period of 30 (thirty) days for remedying the Contractor’s Default, and in the event of the Contractor not curing its default within such Cure Period, the Authority shall be entitled to encash and appropriate such Performance Security as Damages, and to terminate this Agreement in accordance with Article 23.

Appropriation of Performance Security. ‌ (i) Upon occurrence of a Contractor’s Default, the Authority 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 Security as Damages for such Contractor’s Default. (ii) Upon such encashment and appropriation from the Performance Security, the Contractor shall, within 30 (thirty) days thereof, replenish, in case of partial appropriation, to its original level the Performance Security, and in case of appropriation of the entire Performance Security provide a fresh Performance Security, as the case may be, and the Contractor shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate the Agreement in accordance with Article 23. Upon replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Contractor shall be entitled to an additional Cure Period of 30 (thirty) days for remedying the Contractor’s Default, and in the event of the Contractor not curing its default within such Cure Period, the Authority shall be entitled to encash and appropriate such Performance Security as Damages, and to terminate this Agreement in accordance with Article 23.

Appropriation of Performance Security. (i) Upon occurrence of a Contractor’s Default, the Authority 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 Security as Damages for such Contractor’s Default. (ii) Upon such encashment and appropriation from the Performance Security, the Contractor shall, within 30 (thirty) days thereof, replenish, in case of partial appropriation, to its original level the Performance Security, and in case of appropriation of the entire Performance Security provide a fresh Performance Security, as the case may be, and the Contractor shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate the Agreement in accordance with Article 23. Upon replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Contractor shall be entitled to an additional Cure Period of 30 (thirty) days for remedying the Contractor’s Default, and in the event of the Contractor not curing its default within such Cure Period, the Authority shall be entitled to encash and appropriate such Performance Security as Damages, and to terminate this Agreement in accordance with Article 23Article23.

Appropriation of Performance Security. (i) 7.3.1 Upon occurrence of a Contractor’s Contractor Default, the Authority 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 Security the amounts due to it as Damages for such Contractor’s the Contractor Default. (ii) 7.3.2 Upon such encashment and appropriation from the Performance Security, the Contractor shall, within 30 (thirty) days thereof, replenish, in case of partial appropriation, to its original level the Performance Security, and in case of appropriation of the entire Performance Security provide a fresh Performance Security, as the case may be, and the Contractor shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate the Agreement in accordance with Article 2321. Upon such replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Contractor shall be entitled to an additional Cure Period of 30 (thirty) days for remedying the Contractor’s Contractor Default, and in the event of the Contractor not curing its default within such Cure Period, the Authority shall be entitled to encash and appropriate such Performance Security as Damages, and to terminate this Agreement in accordance with Article 2321.

Appropriation of Performance Security. (i) Upon occurrence of a Contractor’s Concessionaire Default, the Authority shall, without prejudice to its other rights and remedies hereunder or in law, be entitled to invoke, encash and appropriate the relevant amounts from the Performance Security as Damages for such Contractor’s Concessionaire Default. (ii) . Upon such invocation, encashment and appropriation from the Performance Security, the Contractor Concessionaire shall, within [30 (thirty) )] days thereof, replenish, in case of partial appropriation, to its original level the Performance Security, and in case of appropriation of the entire Performance Security provide a fresh Performance Security, as the case may be, and the Contractor Concessionaire shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate the this Agreement in accordance with Article 2337. Upon replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Contractor Concessionaire shall be entitled to an additional Cure Period of 30 [90 (thirty) ninety)] days for remedying the Contractor’s Concessionaire Default, and in the event of the Contractor Concessionaire not curing its default within such Cure Period, the Authority shall be entitled to invoke, encash and appropriate such Performance Security as Damages, and to terminate this Agreement in accordance with Article 2337.

Appropriation of Performance Security. (i) 7.3.1 Upon occurrence of a Contractor’s Default, the Authority 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 Security as Damages for such Contractor’s Default. (ii) 7.3.2 Upon such encashment and appropriation from the Performance Security, the Contractor shall, within 30 (thirty) days thereof, replenish, in case of partial appropriation, to its original level the Performance Security, and in case of appropriation of the entire Performance Security provide a fresh Performance Security, as the case may be, and the Contractor shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate the Agreement in accordance with Article 23. Upon replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Contractor shall be entitled to an additional Cure Period of 30 (thirty) days for remedying the Contractor’s Default, and in the event of the Contractor not curing its default within such Cure Period, the Authority shall be entitled to encash and appropriate such Performance Security as Damages, and to terminate this Agreement in accordance with Article 23.

Appropriation of Performance Security. (i) Upon occurrence of a Contractor’s Default, the Authority 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 Security as Damages for such Contractor’s Default. (ii) Upon such encashment and appropriation from the Performance Security, the Contractor shall, within 30 15 (thirtyfifteen) days thereof, replenish, in case of partial appropriation, to its original level the Performance Security, and in case of appropriation of the entire Performance Security provide a fresh Performance Security, as the case may be, and the Contractor shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate the Agreement in accordance with Article 23. Upon replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Contractor shall be entitled to an additional Cure Period of 30 (thirty) days for remedying the Contractor’s Default, and in the event of the Contractor not curing its default within such Cure Period, the Authority shall be entitled to encash and appropriate such Performance Security as Damages, and to terminate this Agreement in accordance with Article 23.

Appropriation of Performance Security. (i) xxx.xxxxxx.xxx Downloaded Upon occurrence of a Contractor’s Concessionaire Default, the Authority shall, without prejudice to its other rights and remedies hereunder or in law, be entitled to invoke, encash and appropriate the relevant amounts from the Performance Security as Damages for such Contractor’s Concessionaire Default. (ii) . Upon such invocation, encashment and appropriation from the Performance Security, the Contractor Concessionaire shall, within [30 (thirty) )] days thereof, replenish, in case of partial appropriation, to its original level the Performance Security, and in case of appropriation of the entire Performance Security provide a fresh Performance Security, as the case may be, and the Contractor Concessionaire shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate the this Agreement in accordance with Article 2337. Upon replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Contractor Concessionaire shall be entitled to an additional Cure Period of 30 [90 (thirty) ninety)] days for remedying the Contractor’s Concessionaire Default, and in the event of the Contractor Concessionaire not curing its default within such Cure Period, the Authority shall be entitled to invoke, encash and appropriate such Performance Security as Damages, and to terminate this Agreement in accordance with Article 2337.

Appropriation of Performance Security. (i) 7.3.1 Upon occurrence of a Contractor’s Default, the Authority 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 Security as Damages for such Contractor’s Default. (ii) 7.3.2 Upon such encashment and appropriation from the Performance Security, the Contractor shall, within 30 (thirty) days thereof, replenish, in case of partial appropriation, to its original level the Performance Security, and in case of appropriation of the entire Performance Security provide a fresh Performance Security, as the case may be, and the Contractor shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate the Agreement in accordance with Article 23. Upon replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Contractor shall be entitled to an additional Cure Period of 30 (thirty) days for remedying the Contractor’s Default, and in the event of the Contractor not curing its default within such Cure Period, the Authority shall be entitled to encash and appropriate such Performance Security as Damages, and to terminate this Agreement in accordance with Article 23. 7.3.3 The Additional Performance Security shall be encashed, in case the Contractor cannot achieve the Milestones –II/III/IV … within the prescribed period as per this Agreement due to the fault of the Contractor.

Appropriation of Performance Security. (i) 7.3.1 Upon occurrence of a Contractor’s Default, the Authority 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 Security as Damages for such Contractor’s Default. (ii) 7.3.2 Upon such encashment and appropriation from the Performance Security, the Contractor shall, within 30 (thirty) days thereof, replenish, in case of partial appropriation, to its original level the Performance Security, and in case of appropriation of the entire Performance Security provide a fresh Performance Security, as the case may be, and the Contractor shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate the Agreement in accordance with Article 23. Upon replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Contractor shall be entitled to an additional Cure Period of 30 (thirty) days for remedying the Contractor’s Default, and in the event of the Contractor not curing its default within such Cure Period, the Authority shall be entitled to encash and appropriate such Performance Security as Damages, and to terminate this Agreement in accordance with Article 23. 7.3.3 The Additional Performance Security shall be en-cashed, in case the Contractor cannot achieve the Milestones –II/III/IV … within the prescribed period as per this Agreement due to the fault of the Contractor.

Appropriation of Performance Security. (i) Upon occurrence of a Contractor’s DefaultConcessionaire Default or failure to meet any Condition Precedent, the Authority 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 Security as Damages the amounts due to it for and in respect of such Contractor’s Default. (ii) Concessionaire Default or for failure to meet any Condition Precedent. Upon such encashment and appropriation from the Performance Security, the Contractor Concessionaire shall, within 30 15 (thirtyfifteen) days thereof, replenish, in case of partial appropriation, to its the original level of the Performance Security, and in case of appropriation of the entire Performance Security provide a fresh Performance Security, as the case may be, and the Contractor shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate the this Agreement in accordance with Article 2338. Upon such replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Contractor Concessionaire shall be entitled to an additional Cure Period of 30 120 (thirtyone hundred and twenty) days for remedying the Contractor’s DefaultConcessionaire Default or for satisfying any Condition Precedent, and in the event of the Contractor Concessionaire not curing its default or meeting such Condition Precedent within such Cure Period, the Authority shall be entitled to encash and appropriate such Performance Security as Damages, and to terminate this Agreement in accordance with Article 2338.

Appropriation of Performance Security. (i) Upon occurrence of a Contractor’s DefaultConcessionaire Default or failure to meet any Condition Precedent or failure to make any payment which becomes due and payable to the Authority under and in accordance with this Agreement, the Authority shall, without prejudice to its other rights and remedies hereunder or in law, be entitled to encash and appropriate the relevant amounts due and payable as liquidated damages from the Performance Security as Damages for such Contractor’s Default. (ii) Concessionaire Default or failure to meet any Condition Precedent or failure to pay such amounts which are due and payable by the Concessionaire to the Authority under and in accordance with the provisions of this Agreement. Upon such encashment and appropriation from of the Performance Security, the Contractor Concessionaire shall, within 30 [15 (thirty) fifteen)] days thereof, replenish, in case of partial appropriation, the Performance Security to its original level the Performance Securitylevel, and in case of appropriation of the entire Performance Security provide a fresh Performance Security, as the case may be, and the Contractor shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate the this Agreement in accordance with Article 2338. Upon such replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Contractor Concessionaire shall be entitled to an additional Cure Period of 30 [120 (thirty) one hundred and twenty)] days for remedying the Contractor’s DefaultConcessionaire Default or for satisfying any Condition Precedent, and in the event of the Contractor Concessionaire not curing its default or meeting such Condition Precedent within such Cure Period, the Authority shall be entitled to encash and appropriate such Performance Security as Damages, and to terminate this Agreement in in accordance with Article 2338.

Appropriation of Performance Security. (i) 7.3.1 Upon occurrence of a Contractor’s Contractor‟s Default, the Authority 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 Security as Damages for such Contractor’s Contractor‟s Default. (ii) 7.3.2 Upon such encashment and appropriation from the Performance Security, the Contractor shall, within 30 (thirty) days thereof, replenish, in case of partial appropriation, to its original level the Performance Security, and in case of appropriation of the entire Performance Security provide a fresh Performance Security, as the case may be, and the Contractor shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate the Agreement in accordance with Article 23. Upon replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Contractor shall be entitled to an additional Cure Period of 30 (thirty) days for remedying the Contractor’s Contractor‟s Default, and in the event of the Contractor not curing its default within such Cure Period, the Authority shall be entitled to encash and appropriate such Performance Security as Damages, and to terminate this Agreement in accordance with Article 23. 7.3.3 The Additional Performance Security shall be encashed, in case the Contractor cannot achieve the Milestones –II/III/IV … within the prescribed period as per this Agreement due to the fault of the Contractor.

Appropriation of Performance Security. (i) 7.3.1 Upon occurrence of a Contractor’s Contractor Default, the Authority 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 Security the amounts due to it as Damages for such Contractor’s the Contractor Default. (ii) 7.3.2 Upon such encashment and & appropriation from the Performance Security, the Contractor shall, within 30 (thirty) days thereof, replenish, in case of partial appropriation, to its original level the Performance Security, and in case of appropriation of the entire Performance Security provide a fresh Performance Security, as the case may be, and the Contractor shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate the Agreement in accordance with Article 2321. Upon such replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Contractor shall be entitled to an additional Cure Period of 30 (thirty) days for remedying the Contractor’s Contractor Default, and in the event of the Contractor not curing its default within such Cure Period, the Authority shall be entitled to encash and appropriate such Performance Security as Damages, and to terminate this Agreement in accordance with Article 2321.

Appropriation of Performance Security. (i) 7.3.1 Upon occurrence of a Contractor’s 's Default, the Authority Employer 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 Security as Damages for such Contractor’s 's Default. (ii) 7.3.2 Upon such encashment and appropriation from the Performance Security, the Contractor shall, within 30 (thirty) days thereof, replenish, in case of partial appropriation, to its original level the Performance Security, and in case of appropriation of the entire Performance Security provide a fresh Performance Security, as the case may be, and the Contractor shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority Employer shall be entitled to terminate the Agreement in accordance with Article 23. Upon replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Contractor shall be entitled to an additional Cure Period of 30 (thirty) days for remedying the Contractor’s 's Default, and in the event of the Contractor not curing its default within such Cure Period, the Authority Employer shall be entitled to encash and appropriate such Performance Security as Damages, and to terminate this Agreement in accordance with Article 23.

Appropriation of Performance Security. (i) 7.3.1 Upon occurrence of a Contractor’s Default, the Authority Employer 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 Security as Damages for such Contractor’s Default. (ii) 7.3.2 Upon such encashment and appropriation from the Performance Security, the Contractor shall, within 30 (thirty) days thereof, replenish, in case of partial appropriation, to its original level the Performance Security, and in case of appropriation of the entire Performance Security provide a fresh Performance Security, as the case may be, and the Contractor shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority Employer shall be entitled to terminate the Agreement in accordance with Article 23. Upon replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Contractor shall be entitled to an additional Cure Period of 30 (thirty) days for remedying the Contractor’s Default, and in the event of the Contractor not curing its default within such Cure Period, the Authority Employer shall be entitled to encash and appropriate such Performance Security as Damages, and to terminate this Agreement in accordance with Article 23.

Appropriation of Performance Security. (i) Upon occurrence of a Contractor’s Defaultan Operator Default or failure to meet any Condition Precedent, the Authority 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 Security as Damages the amounts due to it for and in respect of such Contractor’s Default. (ii) Operator Default or for failure to meet any Condition Precedent. Upon such encashment and appropriation from the Performance Security, the Contractor Operator shall, within 30 15 (thirtyfifteen) days thereof, replenish, in case of partial appropriation, to its original level the Performance Security, and in case of appropriation of the entire Performance Security provide a fresh Performance Security, as the case may be, and the Contractor Operator shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate the this Agreement in accordance with Article 2332. Upon such replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Contractor Operator shall be entitled to an additional Cure Period of 30 [120 (thirty) one hundred and twenty)] days for remedying the Contractor’s DefaultOperator Default or for satisfying any Condition Precedent, and in the event of the Contractor Operator not curing its default within such Cure Period, the Authority shall be entitled to encash and appropriate such Performance Security as Damages, and to terminate this Agreement in accordance with Article 2332.

Appropriation of Performance Security. ‌ (i) Upon occurrence of a Contractor’s Default, the Authority 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 Security as Damages for such Contractor’s Default. (ii) Upon such encashment and appropriation from the Performance Security, the Contractor shall, within 30 15 (thirtyfifteen) days thereof, replenish, in case of partial appropriation, to its original level the Performance Security, and in case of appropriation of the entire Performance Security provide a fresh Performance Security, as the case may be, and the Contractor shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate the Agreement in accordance with Article 23. Upon replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Contractor shall be entitled to an additional Cure Period of 30 (thirty) days for remedying the Contractor’s Default, and in the event of the Contractor not curing its default within such Cure Period, the Authority shall be entitled to encash and appropriate such Performance Security as Damages, and to terminate this Agreement in accordance with Article 23.

Appropriation of Performance Security. (i) 2.2.1 Upon occurrence of a Contractoran Operator’s DefaultEvent of Default including failure to pay any amounts payable to Authority and/ or Damages levied by the Authority in terms of this Contract or failure to meet any Conditions Precedent, the Authority 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 Security as Damages for such ContractorOperator’s Default. (ii) Event of Default or failure to meet any Condition Precedent. Upon such encashment and appropriation from the Performance Security, the Contractor Operator shall, within 30 (thirty) days thereof, replenish, in case of partial appropriation, to its original level the Performance Security, and in case of appropriation of the entire Performance Security Security, as the case maybe, provide a fresh Performance Security, as the case may be, and the Contractor Operator shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate the Agreement this Contract in accordance with Article 2322of this Contract. Upon replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Contractor Operator shall be entitled to an additional Cure Period of 30 (thirty) days in accordance with Clause 22.1 for remedying the Contractor’s DefaultOperator Event of Default or satisfying the Condition(s) Precedent, and in the event of the Contractor Operator not curing its default within such Cure PeriodPeriod or not meeting the Conditions Precedent, the Authority shall be entitled to encash and appropriate such Performance Security as Damages, and to terminate this Agreement Contract in accordance with Article 2322.

Appropriation of Performance Security. (i) Upon occurrence of a Contractor’s DefaultDeveloper Default or failure to meet any Condition Precedent, the Authority Client 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 Security as Damages for such Contractor’s Developer Default. (ii) . Upon such encashment and appropriation from the Performance Security, the Contractor Developer shall, within 30 (thirty) days thereof, replenish, in case of partial appropriation, to its original level the Performance Security, and in case of appropriation of the entire Performance Security provide a fresh Performance Security, as the case may be, and the Contractor Developer shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority Client shall be entitled to terminate the this Agreement in accordance with Article 2321. Upon replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Contractor Developer shall be entitled to an additional Cure Period of 30 60 (thirtysixty) days for remedying the Contractor’s Developer Default, and in the event of the Contractor Developer not curing its default within such Cure Period, the Authority Client shall be entitled to encash and appropriate such Performance Security as Damages, and to terminate this Agreement in accordance with Article 2321.

Appropriation of Performance Security. (i) Upon occurrence of a Contractor’s Concessionaire Default, the Authority MPRDC 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 Security as Damages for such Contractor’s Concessionaire Default. (ii) . Upon such encashment and appropriation from the Performance Security, Security the Contractor Concessionaire shall, within 30 (thirty) days thereof, replenish, in case incase of partial appropriation, to its original level the Performance Security, and in case of appropriation of the entire Performance Security provide a fresh Performance Security, Security as the case may be, be and the Contractor shall, Concessionaire shall within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority MPRDC shall be entitled to terminate the this Agreement in accordance with Article 2337. Upon replenishment or furnishing of a fresh Performance Security, as the case may be, be as aforesaid, the Contractor Concessionaire shall be entitled to an additional Cure Period of 30 90 (thirtyninety) days for remedying the Contractor’s Concessionaire Default, and in the event of the Contractor Concessionaire not curing its default within such Cure Period, the Authority MPRDC shall be entitled to encash and appropriate such Performance Security as Damages, and to terminate this Agreement in accordance with Article 2337.

Appropriation of Performance Security. (i) Upon occurrence of a Contractor’s Defaultan Agency Default during the Term, the Authority 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 Security as Damages/Liquidated Damages for such Contractor’s Agency Default. (ii) . Upon such encashment and appropriation from the Performance Security, the Contractor Agency shall, within 30 (thirty) days thereof, replenish, in case of partial appropriation, to its original level the Performance Security, and in case of appropriation of the entire Performance Security provide a fresh Performance Security, as the case may be, and the Contractor Agency shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate the this Agreement in accordance with Article 2318. Upon replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Contractor Agency shall be entitled to an additional Cure Period of 30 (thirty) days for remedying the Contractor’s Agency Default, and in the event of the Contractor Agency not curing its default within such Cure Period, the Authority shall be entitled to encash and appropriate such Performance Security as Damages/Liquidated Damages, and to terminate this Agreement in accordance with Article 2318.1.

Appropriation of Performance Security. (i) Upon occurrence of a Contractor’s Concessionaire Default, the Authority shall, without prejudice to its other rights and remedies hereunder or in law, be entitled to encash and appropriate the relevant amounts from the relevant Performance Security as Damages for such Contractor’s Concessionaire Default. (ii) . Upon such encashment and appropriation from the relevant Performance Security, the Contractor Concessionaire shall, within 30 (thirty) days thereof, replenish, in case of partial appropriation, to its original level the such Performance Security, and in case of appropriation of the entire Performance Security provide a fresh Performance Security, as the case may be, and the Contractor Concessionaire shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate the this Agreement in accordance with Article 2332. Upon replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Contractor Concessionaire shall be entitled to an additional Cure Period of 30 (thirty) days for remedying the Contractor’s Concessionaire Default, and 14 To be calculated @ 5% (five per cent) of the amount specified in the event definition of the Contractor not curing its default within such Cure Period, the Authority shall be entitled to encash and appropriate such Performance Security as Damages, and to terminate this Agreement in accordance with Article 23Total Project Cost.

Appropriation of Performance Security. (i) Upon occurrence of a Contractor’s 's Default, the Authority 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 Security as Damages for such Contractor’s 's Default. (ii) Upon such encashment and appropriation from the Performance Security, the Contractor shall, within 30 (thirty) days thereof, replenish, in case of partial appropriation, to its original level the Performance Security, and in case of appropriation of the entire Performance Security provide a fresh Performance Security, as the case may be, and the Contractor shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate the Agreement in accordance with Article 23. Upon replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Contractor shall be entitled to an additional Cure Period of 30 (thirty) days for remedying the Contractor’s 's Default, and in the event of the Contractor not curing its default within such Cure Period, the Authority shall be entitled to encash and appropriate such Performance Security as Damages, and to terminate this Agreement in accordance with Article 23.

Appropriation of Performance Security. (i) 7.3.1 Upon occurrence of a Contractor’s Default, the Authority shall, without prejudice to its other rights and remedies hereunder or in law, be entitled to encash invoke and appropriate the relevant amounts from the Performance Security as Damages for such Contractor’s Default. (ii) 7.3.2 Upon such encashment and appropriation from the Performance Security, the Contractor shall, within 30 (thirty) 10 days thereofof intimation received from the Authority, replenish, in case of partial appropriation, to its original level the Performance Security, and in case of appropriation of the entire Performance Security provide a fresh Performance Security, as the case may be, and the Contractor shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate the Agreement in accordance with Article 2321. Upon such replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Contractor shall be entitled to an additional Cure Period of 30 (thirty) days for remedying the Contractor’s Default, and in the event of the Contractor not curing its default within such Cure Period, the Authority shall be entitled to encash invoke and appropriate such Performance Security as Damages, and to terminate this Agreement in accordance with Article 2321.

Appropriation of Performance Security. (i) 7.3.1 Upon occurrence of a Contractor’s Contractor‟s Default, the Authority Employer 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 Security as Damages for such Contractor’s Contractor‟s Default. (ii) 7.3.2 Upon such encashment and appropriation from the Performance Security, the Contractor shall, within 30 (thirty) days thereof, replenish, in case of partial appropriation, to its original level the Performance Security, and in case of appropriation of the entire Performance Security provide a fresh Performance Security, as the case may be, and the Contractor shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority Employer shall be entitled to terminate the Agreement in accordance with Article 23. Upon replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Contractor shall be entitled to an additional Cure Period of 30 (thirty) days for remedying the Contractor’s Contractor‟s Default, and in the event of the Contractor not curing its default within such Cure Period, the Authority Employer shall be entitled to encash and appropriate such Performance Security as Damages, and to terminate this Agreement in accordance with Article 23.

Appropriation of Performance Security. (i) Upon occurrence of a Contractor’s DefaultDeveloper Default or failure to meet any Condition Precedent, the Authority SH&DB 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 Security as Damages for such Contractor’s Developer Default. (ii) . Upon such encashment and appropriation from the Performance Security, the Contractor Developer shall, within 30 (thirty) days thereof, replenish, in case of partial appropriation, to its original level the Performance Security, and in case of appropriation of the entire Performance Security provide a fresh Performance Security, as the case may be, and the Contractor Developer shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority SH&DB shall be entitled to terminate the this Agreement in accordance with Article 2332. Upon replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Contractor Developer shall be entitled to an additional Cure Period of 30 90 (thirtyninety) days for remedying the Contractor’s Developer Default, and in the event of the Contractor Developer not curing its default within such Cure Period, the Authority SH&DB shall be entitled to encash and appropriate such Performance Security as Damages, and to terminate this Agreement in accordance with Article 2332.

Appropriation of Performance Security. (i) 7.3.1 Upon occurrence of a Contractor’s Contractor Default, the Authority SPV 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 Security the amounts due to it as Damages for such Contractor’s the Contractor Default. (ii) 7.3.2 Upon such encashment and appropriation from the Performance Security, the Contractor shall, within 30 (thirty) days thereof, replenish, in case of partial appropriation, to its original level the Performance Security, and in case of appropriation of the entire Performance Security provide a fresh Performance Security, as the case may be, and the Contractor shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority SPV shall be entitled to terminate the Agreement in accordance with Article 2321. Upon such replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Contractor shall be entitled to an additional Cure Period of 30 (thirty) days for remedying the Contractor’s Contractor Default, and in the event of the Contractor not curing its default within such Cure Period, the Authority SPV shall be entitled to encash and appropriate such Performance Security as Damages, and to terminate this Agreement in accordance with Article 2321.

Appropriation of Performance Security. (i) Upon occurrence of a Contractor’s DefaultService Provider Default during the Term, the Authority 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 Security as Damages/Liquidated Damages for such Contractor’s Service Provider Default. (ii) . Upon such encashment and appropriation from the Performance Security, the Contractor Service Provider shall, within 30 (thirty) days thereof, replenish, in case of partial appropriation, to its original level the Performance Security, and in case of appropriation of the entire Performance Security provide a fresh Performance Security, as the case may be, and the Contractor Service Provider shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate the this Agreement in accordance with Article 2318. Upon replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Contractor Service Provider shall be entitled to an additional Cure Period of 30 (thirty) days for remedying the Contractor’s Service Provider Default, and in the event of the Contractor Service Provider not curing its default within such Cure Period, the Authority shall be entitled to encash and appropriate such Performance Security as Damages/Liquidated Damages, and to terminate this Agreement in accordance with Article 23.18 and Article 26Error! Reference source not found..

Appropriation of Performance Security. (i) Upon occurrence of a Contractor’s DefaultConcessionaire Default or failure to meet any Condition Precedent, the Authority 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 Security as Damages for such Contractor’s Concessionaire Default. (ii) . Upon such encashment and appropriation from the Performance Security, the Contractor Concessionaire shall, within 30 (thirty) days thereof, replenish, in case of partial appropriation, to its original level the Performance Security, and in case of appropriation of the entire Performance Security provide a fresh Performance Security, as the case may be, and the Contractor Concessionaire shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate the this Agreement in accordance with Article 2337. Upon replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Contractor Concessionaire shall be entitled to an additional Cure Period of 30 90 (thirtyninety) days for remedying the Contractor’s Concessionaire Default, and in the event of the Contractor Concessionaire not curing its default within such Cure Period, the Authority shall be entitled to encash and appropriate such Performance Security as Damages, and to terminate this Agreement in accordance with Article 2337.

Appropriation of Performance Security. (i) Upon occurrence of a Contractor’s Default, the Authority 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 Security as Damages for such Contractor’s DefaultDe- fault. (ii) Upon such encashment and appropriation from the Performance Security, the Contractor Contrac- tor shall, within 30 (thirty) days thereof, replenish, in case of partial appropriation, to its original level the Performance Security, and in case of appropriation of the entire Performance Per- formance Security provide a fresh Performance Security, as the case may be, and the Contractor shall, within the time so granted, replenish or furnish fresh Performance Security Se- curity as aforesaid failing which the Authority shall be entitled to terminate the Agreement Agree- ment in accordance with Article 23. Upon replenishment or furnishing of a fresh Performance Per- formance Security, as the case may be, as aforesaid, the Contractor shall be entitled to an additional Cure Period of 30 (thirty) days for remedying the Contractor’s Default, and in the event of the Contractor not curing its default within such Cure Period, the Authority shall be entitled to encash and appropriate such Performance Security as Damages, and to terminate this Agreement in accordance with Article 23.

Appropriation of Performance Security. (i) Upon occurrence of a Contractor’s DefaultConcessionaire Default or failure to meet any Condition Precedent, the Authority 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 Security as Damages for such Contractor’s Concessionaire Default. (ii) . Upon such encashment and appropriation from the Performance Security, the Contractor Concessionaire shall, within 30 (thirty) days thereof, replenish, in case of partial appropriation, to its original level the Performance Security, and in case of appropriation of the entire Performance Security provide a fresh Performance Security, as the case may be, and the Contractor Concessionaire shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate the this Agreement in accordance with Article 2332. Upon replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Contractor Concessionaire shall be entitled to an additional Cure Period of 30 90 (thirtyninety) days for remedying the Contractor’s Concessionaire Default, and in the event of the Contractor Concessionaire not curing its default within such Cure Period, the Authority shall be entitled to encash and appropriate such Performance Security as Damages, and to terminate this Agreement in accordance with Article 2332.

Appropriation of Performance Security. (i) Upon occurrence of a Contractor’s Company/Consortium Default, the Authority shallCPI, without prejudice to its other rights and remedies hereunder or in law, shall be entitled to encash and appropriate the relevant amounts from the Performance Security as Damages damages for such Contractor’s Company/Consortium Default. (ii) . Upon such encashment and appropriation from the Performance Security, the Contractor Company/Consortium shall, within 30 (thirty) days thereof, replenish, in case of partial appropriation, to its original level the Performance Security, and in case of appropriation of the entire Performance Security provide a fresh Performance Security, as the case may be, and the Contractor Company/Consortium shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority CPI shall be entitled to terminate the this Agreement in accordance with Article 2326. Upon replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Contractor Company/Consortium shall be entitled to an additional Cure Period of 30 90 (thirtyninety) days for remedying the Contractor’s Company/Consortium Default, and in the event of the Contractor Company/Consortium not curing its default within such Cure Period, the Authority CPI shall be entitled to encash and appropriate such Performance Security as Damages, and to terminate this Agreement in accordance with Article 2326.

Appropriation of Performance Security. (i) Upon occurrence of a Contractor’s Default, the Authority Concessionaire Default MSRDC 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 Security as Damages for such Contractor’s Concessionaire Default. (ii) . Upon such encashment and appropriation from the Performance Security, the Contractor Concessionaire shall, within 30 (thirty) days thereof, replenish, in case of partial appropriation, to its original level the Performance Security, and in case of appropriation of the entire Performance Security provide a fresh Performance Security, as the case may be, and the Contractor Concessionaire shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority MSRDC shall be entitled to terminate the this Agreement in accordance with Article 2337. Upon replenishment or furnishing of a fresh Performance Securityperformance security, as the case may be, as aforesaid, the Contractor Concessionaire shall be entitled to an additional Cure Period period of 30 60 (thirtysixty) days for remedying the Contractor’s Concessionaire Default, and in the event of the Contractor Concessionaire not curing its default within such Cure Period, the Authority MSRDC shall be entitled to encash and appropriate such Performance Security as Damages, and to terminate this Agreement in accordance with Article 2337.

Appropriation of Performance Security. (i) Upon occurrence of a Contractor’s Concessionaire Default, the Authority 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 Security as Damages for such Contractor’s Concessionaire Default. (ii) . Upon such encashment and appropriation from the Performance Security, the Contractor Concessionaire shall, within 30 (thirty) days thereof, replenish, in case of partial appropriation, to its original level the Performance Security, and in case of appropriation of the entire Performance Security provide a fresh Performance Security, as the case may be, and the Contractor Concessionaire shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate the this Agreement in accordance with Article 2332. Upon replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Contractor Concessionaire shall be entitled to an additional Cure Period of 30 (thirty) days for remedying the Contractor’s Concessionaire Default, and in the event of the Contractor Concessionaire not curing its default within such Cure Period, the Authority shall be entitled to encash and appropriate such the Performance Security as Damages, and to terminate this Agreement in accordance with Article 2332.

Appropriation of Performance Security. (i) Upon occurrence of a Contractor’s DefaultDeveloper Default or failure to meet any Condition Precedent, the Authority SH&DB 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 Security as Damages for such Contractor’s Developer Default. (ii) . Upon such encashment and appropriation from the Performance Security, the Contractor Developer shall, within 30 (thirty) days thereof, replenish, in case of partial appropriation, to its original level the Performance Security, and in case of appropriation of the entire Performance Security provide a fresh Performance Security, as the case may be, and the Contractor Developer shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority SH&DB shall be entitled to terminate the this Agreement in accordance with Article 23. Upon 27.Upon replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Contractor Developer shall be entitled to an additional Cure Period of 30 90 (thirtyninety) days for remedying the Contractor’s Developer Default, and in the event of the Contractor Developer not curing its default within such Cure Period, the Authority SH&DB shall be entitled to encash and appropriate such Performance Security as Damages, and to terminate this Agreement in accordance with Article 2327.

Appropriation of Performance Security. (i) Upon occurrence of a Contractor’s Default, the Authority 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 Security as Damages for such Contractor’s Default. (ii) Upon such encashment and appropriation from the Performance Security, the Contractor shall, within 30 (thirty) days thereof, replenish, in case of partial appropriation, to its original level the Performance Security, and in case of appropriation of the entire Performance Security provide a fresh Performance Security, as the case may be, and the Contractor shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate the Agreement in accordance with under Article 23. Upon replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Contractor shall be entitled to an additional Cure Period of 30 (thirty) days for remedying the Contractor’s Default, and in the event of the Contractor not curing its default within such Cure Period, the Authority shall be entitled to encash and appropriate such Performance Security as Damages, and to terminate this Agreement in accordance with under Article 23.

Appropriation of Performance Security. (i) 7.3.1 Upon occurrence of a Contractor’s Default, the Authority Authority/GMDA shall, without prejudice to its other rights and remedies hereunder or in law, be entitled to encash encase and appropriate the relevant amounts from the Performance Security as Damages for such Contractor’s Default. (ii) 7.3.2 Upon such encashment and appropriation from the Performance Security, the Contractor shall, within 30 (thirty) days thereof, replenish, in case of partial appropriation, to its original level the Performance Security, and in case of appropriation of the entire Performance Security provide a fresh Performance Security, as the case may be, and the Contractor shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority Authority/GMDA shall be entitled to terminate the Agreement in accordance with Article 23. Upon replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Contractor shall be entitled to an additional Cure Period of 30 (thirty) days for remedying the Contractor’s Default, and in the event of the Contractor not curing its default within such Cure Period, the Authority Authority/GMDA shall be entitled to encash encase and appropriate such Performance Security as Damages, and to terminate this Agreement in accordance with Article 23.

Appropriation of Performance Security. (i) Upon occurrence of a Contractor’s DefaultService Provider Default during the Term, the Authority Service Partner (NDMC) 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 Security as Damages/Liquidated Damages for such Contractor’s Service Provider Default. (ii) . Upon such encashment and appropriation from the Performance Security, the Contractor Service Provider shall, within 30 (thirty) days thereof, replenish, in case of partial appropriation, to its original level the Performance Security, and in case of appropriation of the entire Performance Security provide a fresh Performance Security, as the case may be, and the Contractor Service Provider shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority Service Partner (NDMC) shall be entitled to terminate the this Agreement in accordance with Article 2319. Upon replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Contractor Service Provider shall be entitled to an additional Cure Period of 30 (thirty) days for remedying the Contractor’s Service Provider Default, and in the event of the Contractor Service Provider not curing its default within such Cure Period, the Authority Service Partner (NDMC) shall be entitled to encash and appropriate such Performance Security as Damages/Liquidated Damages, and to terminate this Agreement in accordance with Article 23the terms and conditions of this Agreement and specifically defined under Clause 9.

Appropriation of Performance Security. (i) 8.2.1 Upon occurrence of a Contractor’s DefaultService Provider Default during the Term, the Authority 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 Security as Damages for such Contractor’s DefaultService Provider Default or failure to meet any Condition Precedent. (ii) 8.2.2 Upon such encashment and appropriation from the Performance Security, the Contractor Service Provider shall, within 30 (thirty) days thereof, replenish, in case of partial appropriation, to its original level the Performance Security, and in case of appropriation of the entire Performance Security provide a fresh Performance Security, as the case may be, and the Contractor Service Provider shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate the this Agreement in accordance with Article 23. 15. 8.2.3 Upon replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Contractor Service Provider shall be entitled to an additional Cure Period of 30 90 (thirtyninety) days for remedying the Contractor’s Service Provider Default, and in the 5 5% of (Monthly Service Fee x 50 (seats) x 12 (months) x 3 (years)) event of the Contractor Service Provider not curing its default within such Cure Period, the Authority shall be entitled to encash and appropriate such Performance Security as Damages, and to terminate this Agreement in accordance with Article 2315.

Appropriation of Performance Security. (i) 7.3.1 Upon occurrence of a Contractor’s Contractor‟s Default, the Authority shall, without prejudice to its other rights and remedies hereunder or in law, be entitled entitl`ed to encash and appropriate the relevant amounts from the Performance Security as Damages for such Contractor’s Contractor‟s Default. (ii) 7.3.2 Upon such encashment and appropriation from the Performance Security, the Contractor shall, within 30 (thirty) days thereof, replenish, in case of partial appropriation, to its original level the Performance Security, and in case of appropriation of the entire Performance Security provide a fresh Performance Security, as the case may be, and the Contractor shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate the Agreement in accordance with Article 23. Upon replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Contractor shall be entitled to an additional Cure Period of 30 (thirty) days for remedying the Contractor’s Contractor‟s Default, and in the event of the Contractor not curing its default within such Cure Period, the Authority shall be entitled to encash and appropriate such Performance Security as Damages, and to terminate this Agreement in accordance with Article 23.

Appropriation of Performance Security. (i) 7.3.1 Upon occurrence of a Contractor’s Default, the Authority 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 Security as Damages for such Contractor’s Default. (ii) 7.3.2 Upon such encashment and appropriation from the Performance Security, the Contractor shall, within 30 (thirty) days thereof, replenish, in case of partial appropriation, to its original level the Performance Security, and in case of appropriation of the entire Performance Security provide a fresh Performance Security, as the case may be, and the Contractor shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate the Agreement in accordance with Article 23. Upon replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Contractor shall be entitled to an additional Cure Period of 30 (thirty) days for remedying the Contractor’s Default, and in the event of the Contractor not curing its default within such Cure Period, the Authority shall be entitled to encash and appropriate such Performance Security as Damages, and to terminate this Agreement in accordance with Article 23. 7.3.3 The Additional Performance security shall be encashed, in case the Contractor cannot achieve the Milestones -II/III/IV within the prescribed period as per this Agreement due to the fault of the Contractor.

Appropriation of Performance Security. (i) ‌ 7.3.1 Upon occurrence of a Contractor’s Default, the Authority Employer 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 Security as Damages for such Contractor’s Default. (ii) 7.3.2 Upon such encashment and appropriation from the Performance Security, the Contractor shall, within 30 (thirty) days thereof, replenish, in case of partial appropriation, to its original level the Performance Security, and in case of appropriation of the entire Performance Security provide a fresh Performance Security, as the case may be, and the Contractor shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority Employer shall be entitled to terminate the Agreement in accordance with Article 23. Upon replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Contractor shall be entitled to an additional Cure Period of 30 (thirty) days for remedying the Contractor’s Default, and in the event of the Contractor not curing its default within such Cure Period, the Authority Employer shall be entitled to encash and appropriate such Performance Security as Damages, and to terminate this Agreement in accordance with Article 23.

Appropriation of Performance Security. (i) Upon occurrence of a Contractor’s Default, the Authority shall, without prejudice to its other rights and remedies hereunder or in law, be entitled to encash en cash and appropriate the relevant amounts from the Performance Security as Damages for such Contractor’s Default. (ii) Upon such encashment and appropriation from the Performance Security, the Contractor shall, within 30 (thirty) days thereof, replenish, in case of partial appropriation, to its original level the Performance Security, and in case of appropriation of the entire Performance Security provide a fresh Performance Security, as the case may be, and the Contractor shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate the Agreement in accordance with Article 23. Upon replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Contractor shall be entitled to an additional Cure Period of 30 (thirty) days for remedying the Contractor’s Default, and in the event of the Contractor not curing its default within such Cure Period, the Authority shall be entitled to encash and appropriate such Performance Security as Damages, and to terminate this Agreement in accordance with Article 23Article23.

Appropriation of Performance Security. (i) Upon occurrence of a Contractor’s Concessionaire Default, the Authority shall, without prejudice to its other rights and remedies hereunder or in law, be entitled to encash encash, invoke and appropriate the relevant amounts from the Performance Security as Damages for such Contractor’s Concessionaire Default. (ii) . Upon such encashment encashment, invocation and appropriation from the Performance Security, the Contractor Concessionaire shall, within 30 (thirty) days thereof, replenish, in case of partial appropriation, to its original level the Performance Security, and in case of appropriation of the entire Performance Security provide a fresh Performance Security, as the case may be, and the Contractor Concessionaire shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate the this Agreement in accordance with Article 2333. Upon replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Contractor Concessionaire shall be entitled to an additional Cure Period of 30 90 (thirtyninety) days for remedying the Contractor’s Concessionaire Default, and in the event of the Contractor Concessionaire not curing its default within such Cure Period, the Authority shall be entitled to encash encash, invoke and appropriate such Performance Security as Damages, and to terminate this Agreement in accordance with Article 2333.

Appropriation of Performance Security. (i) Upon occurrence of a Contractor’s Contractor‟s Default, the Authority 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 Security as Damages for such Contractor’s Contractor‟s Default. (ii) Upon such encashment and appropriation from the Performance Security, the Contractor shall, within 30 (thirty) days thereof, replenish, in case of partial appropriation, to its original level the Performance Security, and in case of appropriation of the entire Performance Security provide a fresh Performance Security, as the case may be, and the Contractor shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate the Agreement in accordance with Article 23. Upon replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Contractor shall be entitled to an additional Cure Period of 30 (thirty) days for remedying the Contractor’s Contractor‟s Default, and in the event of the Contractor not curing its default within such Cure Period, the Authority shall be entitled to encash and appropriate such Performance Security as Damages, and to terminate this Agreement in accordance with Article 23.

Appropriation of Performance Security. (i) Upon occurrence of a Contractor’s lessee event of Default, the Authority 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 Performance Security security as Damages for such Contractor’s Lessee event of Default. (ii) , Upon such encashment and appropriation from the Performance Security, the Contractor Lessee shall, within 30 (thirty) days thereof, replenish, in case of partial appropriation, to its original level the Performance Security, and in case of appropriation of the entire Performance Security provide a fresh Performance Security, as the case may be, and the Contractor Lessee shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate the this Agreement in accordance with Article 23Clause 13.2. Upon replenishment or furnishing of a fresh Performance Securitysecurity, as the case may be, as aforesaid, the Contractor Lessee shall be entitled to an additional Cure Period of 30 90 (thirtyninety) days for remedying the Contractor’s DefaultLessee event of default, and in the event of the Contractor Lessee not curing its default within such Cure Period, the Authority shall be entitled to encash and appropriate such Performance Security as Damagesin event of lessee event of Default, and to terminate this Agreement in accordance with Article 23Clause 13.2.

Appropriation of Performance Security. (i) Upon occurrence of a Contractor’s DefaultConcessionaire Default or failure to meet any Condition Precedent, the Authority Government 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 Security as Damages for such Contractor’s Concessionaire Default. (ii) . Upon such encashment and appropriation from the Performance Security, the Contractor Concessionaire shall, within 30 15 (thirtyfifteen) days thereof, replenish, in case of partial appropriation, to its original level the Performance Security, and in case of appropriation of the entire Performance Security provide a fresh Performance Security, as the case may be, and the Contractor Concessionaire shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority Government shall be entitled to terminate the this Agreement in accordance with Article 2329. Upon replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Contractor Concessionaire shall be entitled to an additional Cure Period of 30 60 (thirtysixty) days for remedying the Contractor’s Concessionaire Default, and in the event of the Contractor Concessionaire not curing its default within such Cure Period, the Authority Government shall be entitled to encash and appropriate such Performance Security as Damages, and to terminate this Agreement in accordance with Article 2329.

Appropriation of Performance Security. (i) Upon occurrence of a Contractor’s Default, the Authority shall, without prejudice withoutprejudice to its other rights and remedies hereunder or in law, be entitled to encash and appropriate the relevant amounts from the Performance Security as Damages for such Contractor’s Default. (ii) Upon such encashment and appropriation from the Performance Security, the Contractor shall, within 30 (thirty) days thereof, replenish, in case of partial appropriation, to its original level the Performance Security, and in case of appropriation of the entire Performance Security provide a fresh Performance Security, as the case may be, and the Contractor shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate the Agreement in accordance with Article 23. Upon replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Contractor shall be entitled to an additional Cure Period of 30 (thirty) days for remedying the Contractor’s Default, and in the event of the Contractor not curing its default within such Cure Period, the Authority shall be entitled to encash and appropriate such Performance Security as Damages, and to terminate this Agreement in accordance with Article 23.