Common use of Appropriation of Performance Security Clause in Contracts

Appropriation of Performance Security. Upon occurrence of a 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 Concessionaire Default. Upon such invocation, encashment and appropriation from the Performance Security, the 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 Concessionaire shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate this Agreement in accordance with Article 37. Upon replenishment or furnishing of a fresh Performance Security, 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, the Authority shall be entitled to invoke, encash and appropriate such Performance Security as Damages, and to terminate this Agreement in accordance with Article 37.

Appropriation of Performance Security. xxx.xxxxxx.xxx Downloaded Upon occurrence of a 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 Concessionaire Default. Upon such invocation, encashment and appropriation from the Performance Security, the 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 Concessionaire shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate this Agreement in accordance with Article 37. Upon replenishment or furnishing of a fresh Performance Security, 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, the Authority shall be entitled to invoke, encash and appropriate such Performance Security as Damages, and to terminate this Agreement in accordance with Article 37.

Appropriation of Performance Security. (i) Upon occurrence of a Concessionaire Contractor’s 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 Concessionaire Contractor’s Default. (ii) Upon such invocation, encashment and appropriation from the Performance Security, the Concessionaire 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 Concessionaire Contractor shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate this the Agreement in accordance with Article 3723. Upon replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Concessionaire Contractor shall be entitled to an additional Cure Period of [90 30 (ninety)] thirty) days for remedying the Concessionaire Contractor’s Default, and in the event of the Concessionaire Contractor 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 37.Article23. 7.4

Appropriation of Performance Security. (i) Upon occurrence of a Concessionaire Contractor’s 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 Concessionaire Contractor’s Default. (ii) Upon such invocation, encashment and appropriation from the Performance Security, the Concessionaire 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 Concessionaire Contractor shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate this the Agreement in accordance with Article 3723. Upon replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Concessionaire Contractor shall be entitled to an additional Cure Period of [90 30 (ninety)] thirty) days for remedying the Concessionaire Contractor’s Default, and in the event of the Concessionaire Contractor 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 37.23. 7.4

Appropriation of Performance Security. Upon occurrence of a Concessionaire DefaultDefault 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 invoke, encash and appropriate the relevant amounts due and payable as liquidated damages from the Performance Security as Damages for such Concessionaire DefaultDefault 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 invocation, encashment and appropriation from of the Performance Security, the Concessionaire shall, within [30 15 (thirtyfifteen)] 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 Concessionaire shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate this Agreement in accordance with Article 3738. Upon such replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Concessionaire shall be entitled to an additional Cure Period of [90 120 (ninetyone hundred and twenty)] days for remedying the Concessionaire DefaultDefault or for satisfying any Condition Precedent, and in the event of the Concessionaire not curing its default or meeting such Condition Precedent 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 in accordance with Article 3738.

Appropriation of Performance Security. Upon occurrence of a Concessionaire DefaultDefault 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 invoke, encash and appropriate the relevant amounts from the Performance Security as Damages the amounts due to it for and in respect of such Concessionaire DefaultDefault or for failure to meet any Condition Precedent. Upon such invocation, encashment and appropriation from the Performance Security, the Concessionaire shall, within [30 15 (thirty)] fifteen) 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 Concessionaire shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate this Agreement in accordance with Article 3738. Upon such replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Concessionaire shall be entitled to an additional Cure Period of [90 120 (ninety)] one hundred and twenty) days for remedying the Concessionaire DefaultDefault or for satisfying any Condition Precedent, and in the event of the Concessionaire not curing its default or meeting such Condition Precedent 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 3738.

Appropriation of Performance Security. Upon occurrence of a Concessionaire DefaultDefault 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 invoke, encash and appropriate the relevant amounts from the Performance Security as Damages the amounts due to it for and in respect of such Concessionaire DefaultDefault or for failure to meet any Condition Precedent. Upon such invocation, encashment and appropriation from the Performance Security, the Concessionaire shall, within [30 15 (thirty)] fifteen) 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 Concessionaire shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate this Agreement in accordance with Article 3731. Upon Provided that upon appropriation on account of Concessionaire’s Default the Concessionaire shall replenish the Performance Security and upon such replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Concessionaire shall be entitled to an additional Cure Period of [90 120 (ninety)] one hundred and twenty) days for remedying the Concessionaire Default, save and except as provided in Clause 4.5 of this Agreement, and in the event of the 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 3731.

Appropriation of Performance Security. Downloaded from xxx.xxxxxx.xxx Upon occurrence of a 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 Concessionaire Default. Upon such invocation, encashment and appropriation from the Performance Security, the 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 Concessionaire shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate this Agreement in accordance with Article 37. Upon replenishment or furnishing of a fresh Performance Security, 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, the Authority shall be entitled to invoke, encash and appropriate such Performance Security as Damages, and to terminate this Agreement in accordance with Article 37.

Appropriation of Performance Security. Upon occurrence of a Concessionaire DefaultDefault or failure to meet any Condition Precedent, the Authority MPRDC 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 Concessionaire DefaultDefault or failure to meet any Condition Precedent. Upon such invocation, encashment and appropriation from the Performance Security, the 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 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 this Agreement in accordance with Article 37. Upon replenishment or furnishing of a fresh Performance Security, 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 DefaultDefault or to meet any Condition Precedent, and in the event of the Concessionaire not curing its default or meeting such Condition Precedent within such Cure Period, the Authority MPRDC shall be entitled to invoke, encash and appropriate such Performance Security as Damages, and to terminate this Agreement in accordance with Article 37.

Appropriation of Performance Security. Upon occurrence of a Concessionaire DefaultDefault 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 invoke, encash and appropriate the relevant amounts due and payable as liquidated damages from the Performance Security as Damages for such Concessionaire DefaultDefault 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 invocation, encashment and appropriation from of the Performance Security, the Concessionaire shall, within [30 15 (thirtyfifteen)] 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 Concessionaire shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate this Agreement in accordance with Article 3732. Upon such replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Concessionaire shall be entitled to an additional Cure Period of [90 120 (ninety)] one hundred and twenty) days for remedying the Concessionaire DefaultDefault or for satisfying any Condition Precedent, and in the event of the Concessionaire not curing its default or meeting such Condition Precedent 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 in accordance with Article 3732.

Appropriation of Performance Security. Upon occurrence of a Concessionaire DefaultDefault or failure to meet any Condition Precedent, the Authority MOR 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 Concessionaire DefaultDefault or failure to meet any Condition Precedent. Upon such invocation, encashment and appropriation from the Performance Security, the 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 Concessionaire shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority MOR shall be entitled to terminate this Agreement in accordance with Article 3730. Upon replenishment or furnishing of a fresh Performance Security, 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 DefaultDefault or to meet any Condition Precedent, and in the event of the Concessionaire not curing its default or meeting such Condition Precedent within such Cure Period, the Authority MOR shall be entitled to invoke, encash and appropriate such Performance Security as Damages, and to terminate this Agreement in accordance with Article 3730.

Appropriation of Performance Security. Upon occurrence of a Concessionaire DefaultDefault 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 invoke, encash and appropriate the relevant amounts from the Performance Security as Damages the amounts due to it for and in respect of such Concessionaire DefaultDefault or for failure to meet any Condition Precedent. Upon such invocation, encashment and appropriation from the Performance Security, the Concessionaire shall, within [30 15 (thirty)] fifteen) days thereof, replenish, in case of partial appropriation, 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 Concessionaire shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid be failing which the Authority shall be entitled to terminate this Agreement in accordance with Article 3731. Upon such replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Concessionaire shall be entitled to an additional Cure Period of [90 120 (ninety)] one hundred and twenty) days for remedying the Concessionaire DefaultDefault or for satisfying any Condition Precedent, and in the event of the Concessionaire not curing its default or meeting such Condition Precedent 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 3731.

Appropriation of Performance Security. Upon occurrence of a Concessionaire DefaultEvent of 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 invoke, encash and appropriate the relevant amounts from the Performance Security as Damages for such Concessionaire DefaultDefault or failure to meet any Condition Precedent. Upon such invocation, encashment and appropriation from the Performance Security, the Concessionaire shall, within [30 (thirty)] ) days thereof, replenish, in case of partial appropriation, to its original level of the applicable Performance Security, and in case of appropriation of the entire Performance Security provide a fresh Performance Security, as the case may be, and the Concessionaire shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate this Agreement in accordance with Article 3722. Upon replenishment or furnishing of a fresh Performance Security, 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 DefaultDefault or to meet any Condition Precedent, and in the event of the Concessionaire not curing its default or meeting such Condition Precedent 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 3722.

Appropriation of Performance Security. Upon occurrence of a Concessionaire DefaultAggregator Default or failure to meet any Condition Precedent, the Authority Utility 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 the amounts due to it for and in respect of such Concessionaire DefaultAggregator Default or for failure to meet any Condition Precedent. Upon such invocation, encashment and appropriation from the Performance Security, the Concessionaire Aggregator shall, within [30 15 (thirty)] fifteen) 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 Concessionaire shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority Utility shall be entitled to terminate this Agreement in accordance with Article 3717. Upon such replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Concessionaire Aggregator shall be entitled to an additional Cure Period of [90 120 (ninety)] one hundred and twenty) days for remedying the Concessionaire DefaultAggregator Default or to meet any Condition Precedent, and in the event of the Concessionaire Aggregator not curing its default or meeting such Condition Precedent within such Cure Period, the Authority Utility shall be entitled to invoke, encash and appropriate such the Performance Security as Damages, and to terminate this Agreement in accordance with Article 3717.

Appropriation of Performance Security. Upon occurrence of a Concessionaire DefaultSupplier Default or failure to meet any Condition Precedent, the Authority Aggregator 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 the amounts due to it for and in respect of such Concessionaire DefaultSupplier Default or for failure to meet any Condition Precedent. Upon such invocation, encashment and appropriation from the Performance Security, the Concessionaire Supplier shall, within [30 15 (thirty)] fifteen) 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 Concessionaire shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority Aggregator shall be entitled to terminate this Agreement in accordance with Article 3718. Upon such replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Concessionaire Supplier shall be entitled to an additional Cure Period of [90 120 (ninety)] one hundred and twenty) days for remedying the Concessionaire DefaultSupplier Default or to meet any Condition Precedent, and in the event of the Concessionaire Supplier not curing its default or meeting such Condition Precedent within such Cure Period, the Authority Aggregator shall be entitled to invoke, encash and appropriate such the Performance Security as Damages, and to terminate this Agreement in accordance with Article 3718.

Appropriation of Performance Security. Upon occurrence of a Concessionaire DefaultDefault 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 invoke, encash and appropriate the relevant amounts from the Performance Security as Damages for such Concessionaire DefaultDefault or failure to meet any Condition Precedent. Upon such invocation, encashment and appropriation from the Performance Security, the 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 Concessionaire shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate this Agreement in accordance with Article 3732. Upon replenishment or furnishing of a fresh Performance Security, 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 DefaultDefault or failure to meet any Condition Precedent, and in the event of the Concessionaire not curing its default or meeting such Condition Precedent 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 3732.

Appropriation of Performance Security. Upon occurrence of a Concessionaire DefaultDefault or failure to meet any Condition Precedent, the Authority MOR 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 Concessionaire DefaultDefault or failure to meet any Condition Precedent. Upon such invocation, encashment and appropriation from the Performance Security, the 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 Concessionaire shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority MOR shall be entitled to terminate this Agreement in accordance with Article 3734. Upon replenishment or furnishing of a fresh Performance Security, 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 DefaultDefault or to meet any Condition Precedent, and in the event of the Concessionaire not curing its default or meeting such Condition Precedent within such Cure Period, the Authority MOR shall be entitled to invoke, encash and appropriate such Performance Security as Damages, and to terminate this Agreement in accordance with Article 3734.

Appropriation of Performance Security. Upon occurrence of a Concessionaire 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 invoke, encash and appropriate the relevant amounts from the Performance Security as Damages the amounts due to it for and in respect of such Concessionaire DefaultOperator Default or for failure to meet any Condition Precedent. Upon such invocation, encashment and appropriation from the Performance Security, the Concessionaire Operator shall, within [30 15 (thirty)] fifteen) 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 Concessionaire Operator shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate this Agreement in accordance with Article 3732. Upon such replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Concessionaire Operator shall be entitled to an additional Cure Period of [90 120 (ninetyone hundred and twenty)] days for remedying the Concessionaire DefaultOperator Default or for satisfying any Condition Precedent, and in the event of the Concessionaire Operator 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 3732.

Appropriation of Performance Security. Upon occurrence of a Concessionaire DefaultDefault 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 invoke, encash and appropriate the relevant amounts due and payable as liquidated damages from the Performance Security as Damages for such Concessionaire DefaultDefault 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 invocation, encashment and appropriation from of the Performance Security, the Concessionaire shall, within [30 15 (thirtyfifteen)] 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 Concessionaire shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate this Agreement in accordance with Article 3732. Upon such replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Concessionaire shall be entitled to an additional Cure Period of [90 120 (ninetyone hundred and twenty)] days for remedying the Concessionaire DefaultDefault or for satisfying any Condition Precedent, and in the event of the Concessionaire not curing its default or meeting such Condition Precedent 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 in accordance with Article 3732.

Appropriation of Performance Security. Upon occurrence of a Concessionaire DefaultDefault 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 invoke, encash and appropriate the relevant amounts from the Performance Security as Damages the amounts due to it for and in respect of such Concessionaire DefaultDefault or for failure to meet any Condition Precedent. Upon such invocation, encashment and appropriation from the Performance Security, the Concessionaire shall, within [30 15 (thirty)] fifteen) 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 Concessionaire shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate this Agreement in accordance with Article 3731. Upon Provided that upon appropriation on account of Concessionaire's Default the Concessionaire shall replenish the Performance Security and upon such replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Concessionaire shall be entitled to an additional Cure Period of [90 120 (ninety)] one hundred and twenty) days for remedying the Concessionaire Default, save and except as provided in Clause 4.5 of this Agreement, and in the event of the 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 3731.

Appropriation of Performance Security. Upon occurrence of a Concessionaire DefaultDefault 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 invoke, encash and appropriate the relevant amounts from the Performance Security as Damages the amounts due to it for and in respect of such Concessionaire DefaultDefault or for failure to meet any Condition Precedent. Upon such invocation, encashment and appropriation from the Performance Security, the Concessionaire shall, within [30 15 (thirty)] fifteen) 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 Concessionaire shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate this Agreement in accordance with Article 3730. Upon such replenishment or furnishing of a fresh Performance Security, 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 DefaultDefault or for satisfying any Condition Precedent, and in the event of the Concessionaire not curing its default or meeting such Condition Precedent 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 3730.

Appropriation of Performance Security. Upon occurrence of a Concessionaire Default, the Authority MPRDC 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 Concessionaire Default. Upon such invocation, encashment and appropriation from the Performance Security, Security the 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 Concessionaire shall, shall within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority MPRDC shall be entitled to terminate this Agreement in accordance with Article 37. Upon replenishment or furnishing of a fresh Performance Security, as the case may be, 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, the Authority MPRDC shall be entitled to invoke, encash and appropriate such Performance Security as Damages, and to terminate this Agreement in accordance with Article 37.

Appropriation of Performance Security. Upon occurrence of a Concessionaire DefaultDefault 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 invoke, encash and appropriate the relevant amounts from the Performance Security as Damages for such Concessionaire DefaultDefault or failure to meet any Condition Precedent. Upon such invocation, encashment and appropriation from the Performance Security, the 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 Concessionaire shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid aforesaid, failing which the Authority shall be entitled to terminate this Agreement in accordance with Article 37. 38 Upon replenishment or furnishing of a fresh Performance Security, 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 DefaultDefault or to meet any Condition Precedent, and in the event of the Concessionaire not curing its default or meeting such Condition Precedent 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 3738.

Appropriation of Performance Security. Upon occurrence of a Concessionaire Defaultan Agency Default during the Term, 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/Liquidated Damages for such Concessionaire Agency Default. Upon such invocation, encashment and appropriation from the Performance Security, the Concessionaire 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 Concessionaire Agency shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate this Agreement in accordance with Article 3718. Upon replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Concessionaire Agency shall be entitled to an additional Cure Period of [90 30 (ninety)] thirty) days for remedying the Concessionaire Agency Default, and in the event of the Concessionaire Agency not curing its default within such Cure Period, the Authority shall be entitled to invoke, encash and appropriate such Performance Security as Damages/Liquidated Damages, and to terminate this Agreement in accordance with Article 3718.1.

Appropriation of Performance Security. Upon occurrence of a 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 relevant Performance Security as Damages for such Concessionaire Default. Upon such invocation, encashment and appropriation from the relevant Performance Security, the 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 Concessionaire shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate this Agreement in accordance with Article 3732. Upon replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Concessionaire shall be entitled to an additional Cure Period of [90 30 (ninety)] thirty) days for remedying the Concessionaire Default, and 14 To be calculated @ 5% (five per cent) of the amount specified in the event definition of the 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 37Total Project Cost.

Appropriation of Performance Security. Upon occurrence of a 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 Concessionaire DefaultDefault or failure to meet any Condition Precedent. Upon such invocation, encashment and appropriation from the Performance Security, the 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 Concessionaire shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate this Agreement in accordance with Article 37. Upon replenishment or furnishing of a fresh Performance Security, 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, or to meet any Condition Precedent, and in the event of the Concessionaire not curing its default or meeting such Condition Precedent 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 37.

Appropriation of Performance Security. Upon occurrence of a Concessionaire DefaultDefault 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 invoke, encash and appropriate the relevant amounts from the Performance Security as Damages for such Concessionaire DefaultDefault or for failure to meet any Conditions Precedent. Upon such invocation, encashment and appropriation from the Performance Security, the 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 Concessionaire shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate this Agreement in accordance with Article 3736. Upon replenishment or furnishing of a fresh Performance Security, 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, the Authority shall be entitled to invoke, encash and appropriate such Performance Security as Damages, and to terminate this Agreement in accordance with Article 3736.

Appropriation of Performance Security. 2.2.1 Upon occurrence of a Concessionaire Defaultan Operator’s Event 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 invoke, encash and appropriate the relevant amounts from the Performance Security as Damages for such Concessionaire DefaultOperator’s Event of Default or failure to meet any Condition Precedent. Upon such invocation, encashment and appropriation from the Performance Security, the Concessionaire 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 Concessionaire Operator shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate this Agreement Contract in accordance with Article 3722of this Contract. Upon replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Concessionaire Operator shall be entitled to an additional Cure Period of [90 (ninety)] days in accordance with Clause 22.1 for remedying the Concessionaire DefaultOperator Event of Default or satisfying the Condition(s) Precedent, and in the event of the Concessionaire Operator not curing its default within such Cure PeriodPeriod or not meeting the Conditions Precedent, the Authority shall be entitled to invoke, encash and appropriate such Performance Security as Damages, and to terminate this Agreement Contract in accordance with Article 3722.

Appropriation of Performance Security. 2.2.1 Upon occurrence of a Concessionaire Defaultan Operator’s Event 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 invoke, encash and appropriate the relevant amounts from the Performance Security as Damages for such Concessionaire DefaultOperator's Event of Default or failure to meet any Condition Precedent. Upon such invocation, encashment and appropriation from the Performance Security, the Concessionaire 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 provide a fresh Performance Security, as the case may be, and the Concessionaire Operator shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate this Agreement Contract in accordance with Article 3722 2 [Drafting Note: The Performance Security shall be 10% of the Project Cost. Project Cost shall be the cost of procurement of Buses and other associated cost such as plant and equipment at Bus Depot] of this Contract. Upon replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Concessionaire Operator shall be entitled to an additional Cure Period of [90 (ninety)] days in accordance with Clause 22.1 for remedying the Concessionaire DefaultOperator Event of Default or satisfying the Condition(s) Precedent, and in the event of the Concessionaire Operator not curing its default within such Cure PeriodPeriod or not meeting the Conditions Precedent, the Authority shall be entitled to invoke, encash and appropriate such Performance Security as Damages, and to terminate this Agreement Contract in accordance with Article 3722.

Appropriation of Performance Security. Upon occurrence of a 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 Concessionaire DefaultDefault or failure to meet any Condition Precedent. Upon such invocation, encashment and appropriation from the Performance Security, the 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 Concessionaire shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate this Agreement in accordance with Article 37. Upon replenishment or furnishing of a fresh Performance Security, 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 DefaultDefault or to meet any Condition Precedent, and in the event of the Concessionaire not curing its default or meeting such Condition Precedent 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 37.

Appropriation of Performance Security. Upon occurrence of a Concessionaire DefaultDefault 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 invoke, encash and appropriate the relevant amounts from the Performance Security as Damages the amounts due to it for and in respect of such Concessionaire DefaultDefault or for failure to meet any Condition Precedent. Upon such invocation, encashment and appropriation from the Performance Security, the Concessionaire shall, within [30 15 (thirty)] fifteen) 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 Concessionaire shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate this Agreement in accordance with Article 3731. Upon Provided that upon appropriation on account of Concessionaire’s Default the Concessionaire shall replenish the Performance Security and upon such replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Concessionaire shall be entitled to an additional Cure Period of [90 120 (ninety)] one hundred and twenty) days for remedying the Concessionaire Default, save and except as provided in Clause 4.5 of this Agreement, and in the event of the 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 37.31. 5Calculated @ 5% (five per cent) of the Bid Project Cost

Appropriation of Performance Security. Upon occurrence of a Concessionaire DefaultDefault 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 invoke, encash and appropriate the relevant amounts from the Performance Security as Damages for such Concessionaire Default. Upon such invocation, encashment and appropriation from the Performance Security, the 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 Concessionaire shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate this Agreement in accordance with Article 37. Upon replenishment or furnishing of a fresh Performance Security, 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, the Authority shall be entitled to invoke, encash and appropriate such Performance Security as Damages, and to terminate this Agreement in accordance with Article 37.

Appropriation of Performance Security. 11.2.1 Upon occurrence of a Concessionaire DefaultConcessionaire’s Event of Default or failure to fulfill the obligations under this Agreement, 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 amount due and payable as liquidated damages from the Performance Security as Damages for such Event of Concessionaire Default. Upon such invocation, encashment and appropriation from the Performance Security, the Concessionaire shall, within [30 15 (thirty)] fifteen) 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 Concessionaire shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate this Agreement in accordance with Article 37Clause 14.2 of this Agreement. Upon replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Concessionaire shall be entitled to an additional Cure Period of [90 180 (ninety)] one hundred eighty) days for remedying the Concessionaire Default, and in the event of the Concessionaire not curing its default Default within such Cure Period, the Authority shall be entitled to invoke, encash and appropriate such subsequent Performance Security as Damagesdamages, and to terminate this Agreement in accordance with Article 37Clause 14.2 of this Agreement.

Appropriation of Performance Security. Upon occurrence of a Concessionaire DefaultDefault 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 invoke, encash and appropriate the relevant amounts from the Performance Security as Damages the amounts due to it for and in respect of such Concessionaire DefaultDefault or for failure to meet any Condition Precedent. Upon such invocation, encashment and appropriation from the Performance Security, the Concessionaire shall, within [30 15 (thirty)] fifteen) 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 casemay be, and the Concessionaire shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate this Agreement in accordance with Article 3731. Upon Provided that upon appropriation on account of Concessionaire’s Default the Concessionaire shall replenish the Performance Security and upon such replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Concessionaire shall be entitled to an additional Cure Period of [90 120 (ninety)] one hundred and twenty) days for remedying the Concessionaire Default, save and except as provided in Clause 4.5 of this 5Calculated @ 5% (five per cent) of the Bid Project Cost Agreement, and in the event of the 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 3731.

Appropriation of Performance Security. ‌ Upon occurrence of a Concessionaire DefaultDefault 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 invoke, encash and appropriate the relevant amounts from the Performance Security as Damages for such Concessionaire DefaultDefault or failure to meet any Condition Precedent. Upon such invocation, encashment and appropriation from the Performance Security, the Concessionaire shall, within [30 15 (thirty)] fifteen) 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 Concessionaire shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate this Agreement in accordance with Article 3725. Upon replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Concessionaire shall be entitled to an additional Cure Period of [90 60 (ninety)] sixty) days for remedying the Concessionaire DefaultDefault or to meet any Condition Precedent, and in the event of the Concessionaire not curing its default or to meet any Condition Precedent 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 3725.

Appropriation of Performance Security. Upon occurrence of a Concessionaire DefaultDefault 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 invoke, encash and appropriate the relevant amounts from the Performance Security as Damages for such Concessionaire Default. Upon such invocation, encashment and appropriation from the Performance Security, the 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 Concessionaire shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate this Agreement in accordance with Article 3732. Upon replenishment or furnishing of a fresh Performance Security, 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, the Authority shall be entitled to invoke, encash and appropriate such Performance Security as Damages, and to terminate this Agreement in accordance with Article 3732.

Appropriation of Performance Security. Upon occurrence of a Concessionaire DefaultDefault 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 invoke, encash and appropriate the relevant amounts from the Performance Security as Damages the amounts due to it for and in respect of such Concessionaire DefaultDefault or for failure to meet any Condition Precedent. Upon such invocation, encashment and appropriation from the Performance Security, the Concessionaire shall, within [30 15 (thirty)] fifteen) 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 Concessionaire shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate this Agreement in accordance with Article 3728. Upon Provided that upon appropriation on account of Concessionaire’s Default the Concessionaire shall replenish the Performance Security and upon such replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Concessionaire shall be entitled to an additional Cure Period of [90 120 (ninety)] one hundred and twenty) days for remedying the Concessionaire Default, save and except as provided in Clause 4.4 of this Agreement, and in the event of the 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 3728.

Appropriation of Performance Security. Upon occurrence of a Concessionaire DefaultDefault 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 invoke, encash and appropriate the relevant amounts from the Performance Security as Damages the amounts due to it for and in respect of such Concessionaire DefaultDefault or for failure to meet any Condition Precedent. Upon such invocation, encashment and appropriation from the Performance Security, the Concessionaire shall, within [30 15 (thirty)] fifteen) 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 Concessionaire shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate this Agreement in accordance with Article 3731. Upon Provided that upon appropriation on account of Concessionaire’s Default the Concessionaire shall replenish the Performance Security and upon such replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Concessionaire shall be entitled to an additional Cure Period of [90 120 (ninety)] one hundred and twenty) days for remedying the Concessionaire Default, save and except as provided in Clause 4.5 of this Agreement, and in the event of the 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 37.31. 1Calculated @ approximately 5% (five per cent) of the Bid Project Cost

Appropriation of Performance Security. Upon occurrence of a Concessionaire DefaultDefault 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 invoke, encash and appropriate the relevant amounts from the Performance Security as Damages for such Concessionaire DefaultDefault or failure to meet any Condition Precedent. Upon such invocation, encashment and appropriation from the Performance Security, the 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 Concessionaire shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate this Agreement in accordance with Article 3725. Upon replenishment or furnishing of a fresh Performance Security, 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 DefaultDefault or to meet any Condition Precedent, and in the event of the Concessionaire not curing its default or meeting such Condition Precedent 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 3725.

Appropriation of Performance Security. Upon occurrence of a Concessionaire DefaultDefault 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 invoke, encash and appropriate the relevant amounts from the Performance Security as Damages for such Concessionaire DefaultDefault or for failure to meet any Condition Precedent. Upon such invocation, encashment and appropriation from the Performance Security, the Concessionaire shall, within [30 15 (thirty)] fifteen) days thereof, replenish, in case of partial appropriation, to its 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 Concessionaire shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate this Agreement in accordance with Article 3735. Upon replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Concessionaire shall be entitled to an additional Cure Period of [90 120 (ninety)] one hundred and twenty) days for remedying the Concessionaire Default, and in the event of the 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 3735.

Appropriation of Performance Security. Upon occurrence of a Concessionaire DefaultDefault 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 invoke, encash and appropriate the relevant amounts from the Performance Security as Damages for such Concessionaire DefaultDefault or failure to meet any Condition Precedent. Upon such invocation, encashment and appropriation from the Performance Security, the 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 Concessionaire shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid aforesaid, failing which the Authority shall be entitled to terminate this Agreement in accordance with Article 37. Upon replenishment or furnishing of a fresh Performance Security, 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 DefaultDefault or to meet any Condition Precedent, and in the event of the Concessionaire not curing its default or meeting such Condition Precedent 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 37.

Appropriation of Performance Security. Upon occurrence of a Concessionaire DefaultDefault 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 invoke, encash and appropriate the relevant amounts from the Performance Security as Damages for such Concessionaire Default. Upon such invocation, encashment and appropriation from f rom the Performance Security, the Concessionaire shall, within [30 15 (thirty)] fifteen) 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 x x xxxx Performance Security, as the case may be, and the Concessionaire shall, within the time w it hin t he t im e so grantedxxxxx xx, replenish or furnish fresh Performance Security f xxxxxx x xxxx Perf orm ance Securit y as aforesaid failing which the Authority Government shall be entitled to terminate this Agreement in accordance with Article 3729. Upon replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Concessionaire shall be entitled to an additional Cure Period of [90 (ninety)] 60 ( sixty) days for remedying the Concessionaire DefaultDefault , and in the event of the Concessionaire not curing its default within such Cure Period, the Authority Government shall be entitled to invoke, encash and appropriate such Performance Security as Damages, and to terminate this Agreement in accordance with Article 3729.

Appropriation of Performance Security. Upon occurrence of a Concessionaire Default, the Authority Default MSRDC 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 Concessionaire Default. Upon such invocation, encashment and appropriation from the Performance Security, the 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 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 this Agreement in accordance with Article 37. Upon replenishment or furnishing of a fresh Performance Securityperformance security, as the case may be, as aforesaid, the Concessionaire shall be entitled to an additional Cure Period period of [90 60 (ninety)] sixty) days for remedying the Concessionaire Default, and in the event of the Concessionaire not curing its default within such Cure Period, the Authority MSRDC shall be entitled to invoke, encash and appropriate such Performance Security as Damages, and to terminate this Agreement in accordance with Article 37.

Appropriation of Performance Security. Upon occurrence of a Concessionaire DefaultDefault 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 invoke, encash and appropriate the relevant amounts from the Performance Security as Damages for such Concessionaire DefaultDefault or failure to meet any Condition Precedent. Upon such invocation, encashment and appropriation from the Performance Security, the Concessionaire shall, within [30 15 (thirty)] fifteen) 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 Concessionaire shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate this Agreement in accordance with Article 3738. Upon replenishment or furnishing of a fresh Performance Security, 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 DefaultDefault or to meet any Condition Precedent, and in the event of the Concessionaire not curing its default or meeting such Condition Precedent 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 3738.

Appropriation of Performance Security. Upon occurrence of a Concessionaire DefaultDefault 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 invoke, encash and appropriate the relevant amounts from the Performance Security as Damages the amounts due to it for and in respect of such Concessionaire DefaultDefault or for failure to meet any Condition Precedent. Upon such invocation, encashment and appropriation from the Performance Security, the Concessionaire shall, within [30 15 (thirty)] fifteen) 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 Concessionaire shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate this Agreement in accordance with Article 3742. Upon such replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Concessionaire shall be entitled to an additional Cure Period of [90 120 (ninety)] one hundred and twenty) days for remedying the Concessionaire DefaultDefault or for satisfying any Condition Precedent, and in the event of the Concessionaire not curing its default or meeting such Condition Precedent 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 3742.

Appropriation of Performance Security. Upon occurrence of a Concessionaire DefaultService Provider Default during the Term, 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/Liquidated Damages for such Concessionaire Service Provider Default. Upon such invocation, encashment and appropriation from the Performance Security, the Concessionaire 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 Concessionaire 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 this Agreement in accordance with Article 3718. Upon replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Concessionaire Service Provider shall be entitled to an additional Cure Period of [90 30 (ninety)] thirty) days for remedying the Concessionaire Service Provider Default, and in the event of the Concessionaire Service Provider not curing its default within such Cure Period, the Authority shall be entitled to invoke, encash and appropriate such Performance Security as Damages/Liquidated Damages, and to terminate this Agreement in accordance with Article 37.18 and Article 26Error! Reference source not found..

Appropriation of Performance Security. Upon occurrence of a 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 relevant Performance Security as Damages for such Concessionaire Default. Upon such invocation, encashment and appropriation from the relevant Performance Security, the 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 Concessionaire shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate this Agreement in accordance with Article 3732. Upon replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Concessionaire shall be entitled to an additional Cure Period of [90 30 (ninety)] thirty) days for remedying the Concessionaire Default, and in the event of the Concessionaire not curing its default within such Cure Period, 14 To be calculated @ 5% (five per cent) of the Authority shall be entitled to invoke, encash and appropriate such Performance Security as Damages, and to terminate this Agreement amount specified in accordance with Article 37the definition of Total Project Cost.

Appropriation of Performance Security. 2.2.1 Upon occurrence of a Concessionaire Defaultan Operator’s Event 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 invoke, encash and appropriate the relevant amounts from the Performance Security as Damages for such Concessionaire DefaultOperator’s Event of Default or failure to meet any Condition Precedent. Upon such invocation, encashment and appropriation from the Performance Security, the Concessionaire 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 Concessionaire Operator shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate this Agreement Contract in accordance with Article 3722 3[Drafting Note: The Performance Security shall be 10% of the Project Cost. Project Cost shall be the cost of procurement of Buses and other associated cost such as plant and equipment at Bus Depot] of this Contract. Upon replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Concessionaire Operator shall be entitled to an additional Cure Period of [90 (ninety)] days in accordance with Clause 22.1 for remedying the Concessionaire DefaultOperator Event of Default or satisfying the Condition(s) Precedent, and in the event of the Concessionaire Operator not curing its default within such Cure PeriodPeriod or not meeting the Conditions Precedent, the Authority shall be entitled to invoke, encash and appropriate such Performance Security as Damages, and to terminate this Agreement Contract in accordance with Article 3722.

Appropriation of Performance Security. Upon occurrence of a Concessionaire DefaultSupplier Default or failure to meet any Condition Precedent, the Authority Procurer 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 the amounts due to it for and in respect of such Concessionaire DefaultSupplier Default or for failure to meet any Condition Precedent. Upon such invocation, encashment and appropriation from the Performance Security, the Concessionaire Supplier shall, within [30 15 (thirty)] fifteen) 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 Concessionaire shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority Procurer shall be entitled to terminate this Agreement in accordance with Article 3716. Upon such replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Concessionaire Supplier shall be entitled to an additional Cure Period of [90 120 (ninety)] one hundred and twenty) days for remedying the Concessionaire DefaultSupplier Default or to meet any Condition Precedent, and in the event of the Concessionaire Supplier not curing its default or meeting such Condition Precedent within such Cure Period, the Authority Procurer shall be entitled to invoke, encash and appropriate such the Performance Security as Damages, and to terminate this Agreement in accordance with Article 3716.

Appropriation of Performance Security. Upon occurrence of a Concessionaire DefaultDefault or failure to meet any Condition Precedent, the Authority MCGM 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 the amounts due to it for and in respect of such Concessionaire DefaultDefault or for failure to meet any Condition Precedent. Upon such invocation, encashment and appropriation from the Performance Security, the Concessionaire shall, within [30 15 (thirty)] fifteen) 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 Concessionaire shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority Procurer shall be entitled to terminate this Agreement in accordance with Article 3718. Upon such replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Concessionaire shall be entitled to an additional Cure Period of [90 120 (ninety)] one hundred and twenty) days for remedying the Concessionaire DefaultDefault or to meet any Condition Precedent, and in the event of the Concessionaire not curing its default or meeting such Condition Precedent within such Cure Period, the Authority Procurer shall be entitled to invoke, encash and appropriate such the Performance Security as Damages, and to terminate this Agreement in accordance with Article 3719.

Appropriation of Performance Security. Upon occurrence of a Concessionaire lessee event of Default, the Authority NRDA 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 security as Damages for such Concessionaire Lessee event of Default. , Upon such invocation, encashment and appropriation from the Performance Security, the Concessionaire 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 Concessionaire Lessee shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate this Agreement in accordance with Article 37Clause 13.2. Upon replenishment or furnishing of a fresh Performance Securitysecurity, as the case may be, as aforesaid, the Concessionaire Lessee shall be entitled to an additional Cure Period of [90 (ninety)] ) days for remedying the Concessionaire DefaultLessee event of default, and in the event of the Concessionaire Lessee not curing its default within such Cure Period, the Authority shall be entitled to invoke, encash and appropriate such Performance Security as Damagesin event of lessee event of Default, and to terminate this Agreement in accordance with Article 37Clause 13.2.

Appropriation of Performance Security. Upon occurrence of a Concessionaire DefaultDefault 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 invoke, encash and appropriate the relevant amounts from the Performance Security as Damages for such Concessionaire Default. Upon such invocation, encashment and appropriation from the Performance Security, the Concessionaire shall, within [30 15 (thirty)] fifteen) 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 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 this Agreement in accordance with Article 3729. Upon replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Concessionaire shall be entitled to an additional Cure Period of [90 60 (ninety)] sixty) days for remedying the Concessionaire Default, and in the event of the Concessionaire not curing its default within such Cure Period, the Authority Government shall be entitled to invoke, encash and appropriate such Performance Security as Damages, and to terminate this Agreement in accordance with Article 3729.

Appropriation of Performance Security. Upon occurrence of a Concessionaire DefaultSupplier Default or failure to meet any Condition Precedent, the Authority Aggregator 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 the amounts due to it for and in respect of such Concessionaire DefaultSupplier Default or for failure to meet any Condition Precedent. Upon such invocation, encashment and appropriation from the Performance Security, the Concessionaire Supplier shall, within [30 15 (thirty)] fifteen) 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 Concessionaire shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority Aggregator shall be entitled to terminate this Agreement in accordance with Article 3719. Upon such replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Concessionaire Supplier shall be entitled to an additional Cure Period of [90 120 (ninety)] one hundred and twenty) days for remedying the Concessionaire DefaultSupplier Default or to meet any Condition Precedent, and in the event of the Concessionaire Supplier not curing its default or meeting such Condition Precedent within such Cure Period, the Authority Aggregator shall be entitled to invoke, encash and appropriate such the Performance Security as Damages, and to terminate this Agreement in accordance with accordancewith Article 3719.

Appropriation of Performance Security. Upon occurrence of a Concessionaire DefaultDefault 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 invoke, encash and appropriate the relevant amounts from the Performance Security as Damages for such Concessionaire DefaultDefault or failure to meet any Condition Precedent. Upon such invocation, encashment and appropriation from the Performance Security, the 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 Concessionaire shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate this Agreement in accordance with Article 3719. Upon replenishment or furnishing of a fresh Performance Security, 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 DefaultDefault or to meet any Condition Precedent, and in the event of the Concessionaire not curing its default or meeting such Condition Precedent 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 37.

Appropriation of Performance Security. Upon occurrence of a 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 Concessionaire DefaultDefault or failure to meet any Condition Precedent. Upon such invocation, encashment and appropriation from the Performance Security, the 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 Concessionaire shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate this Agreement in accordance with Article 37. Upon replenishment or furnishing of a fresh Performance Security, 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 DefaultDefault or to meet any Condition Precedent, and in the event of the Concessionaire not 2 Equivalent to 3% of the Estimated Project Cost curing its default or meeting such Condition Precedent 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 37.

Appropriation of Performance Security. Upon occurrence of a Concessionaire DefaultDefault as provided under Clause 31.1.1 , the Authority / SSNNL / FED 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 Construction Performance Security or Operation Performance Security (as may be applicable) as Damages for such Concessionaire Default. Upon such invocation, encashment and appropriation from the Construction Performance SecuritySecurity or Operation Performance Security (as may be applicable), the Concessionaire shall, within [30 (thirty)] ) days thereof, replenish, in case of partial appropriation, to its original level the Construction Performance SecuritySecurity or Operation Performance Security (as may be applicable), and in case of appropriation of the entire Construction Performance Security or Operation Performance Security (as may be applicable), provide a fresh Construction Performance SecuritySecurity or Operation Performance Security (as may be applicable), as the case may be, and the Concessionaire shall, within the time so granted, replenish or furnish fresh Construction Performance Security or Operation Performance Security (as the case may be) as aforesaid failing which the Authority / SSNNL / FED shall be entitled to terminate this Agreement in accordance with Article 37Clause 31. Upon replenishment or furnishing of a fresh Construction Performance Security, Security or Operation Performance Security (as the case may bebe applicable), 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, the Authority / SSNNL / FED shall be entitled to invoke, encash and appropriate such Construction Performance Security or Operation Performance Security (as the case may be) as Damages, and to terminate this Agreement in accordance with Article 37Clause 31.

Appropriation of Performance Security. 2.2.1 Upon occurrence of a Concessionaire Defaultan Operator’s Event 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 invoke, encash and appropriate the relevant amounts from the Performance Security as Damages for such Concessionaire DefaultOperator Event of Default or failure to meet any Condition Precedent. Upon such invocation, encashment and appropriation from the Performance Security, the Concessionaire 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 provide a fresh Performance Security, as the case may be, and the Concessionaire Operator shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid aforesaid, failing which the Authority shall be entitled to terminate this Agreement Contract in accordance with Article 3722 of this Contract. Upon replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Concessionaire Operator shall be entitled to an additional Cure Period of [90 (ninety)] days in accordance with Clause 22.1 for remedying the Concessionaire DefaultOperator Event of Default or satisfying the Condition(s) Precedent, and in the event of the Concessionaire Operator not curing its default within such Cure PeriodPeriod or not meeting the Conditions Precedent, the Authority shall be entitled to invoke, encash and appropriate such Performance Security as Damages, and to terminate this Agreement Contract in accordance with Article 3722.

Appropriation of Performance Security. Upon occurrence of a Concessionaire DefaultDefault or failure to meet any Condition Precedent in accordance with clause 4 hereof or failure to make any payment to the Authority, subject to and in accordance with this Agreement, the Authority shall, without prejudice to its other rights and remedies hereunder or in lawlaw but subject to terms of this Agreement, be entitled to invoke, encash and appropriate the relevant amounts from the Performance Security as Damages for such Concessionaire DefaultDefault or failure to meet any Condition Precedent in accordance with clause 4 hereof. Upon such invocation, encashment and appropriation from the Performance Security, the 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 Concessionaire shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate this Agreement in accordance with Article 37Clause 39. Upon replenishment or furnishing of a fresh Performance Security, 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 DefaultDefault or to meet any Condition Precedent, and in the event of the Concessionaire not curing its default or meeting such Condition Precedent 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 37Clause 39.

Appropriation of Performance Security. Upon occurrence of a Concessionaire DefaultDefault 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 invoke, encash and appropriate the relevant amounts from the Performance Security as Damages the amounts due to it for and in respect of such Concessionaire DefaultDefault or for failure to meet any Condition Precedent. Upon such invocation, encashment and appropriation from the Performance Security, the Concessionaire shall, within [30 15 (thirty)] fifteen) 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 Concessionaire shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate this Agreement in accordance with Article 3731. Upon Provided that upon appropriation on account of Concessionaire’s Default the Concessionaire shall replenish the Performance Security and upon such replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Concessionaire shall be entitled to an additional Cure Period of [90 120 (ninety)] one hundred and twenty) days for remedying the Concessionaire Default, save and except as provided in Clause 4.5 of this Agreement, and in the event of the Concessionaire not curing its default within such 5Calculated @ 5% (five per cent) of the Bid Project Cost 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 3731.

Appropriation of Performance Security. Upon occurrence of a Concessionaire DefaultContractor 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 invoke, encash and appropriate the relevant amounts from the Performance Security as Damages the amounts due to it for and in respect of such Concessionaire DefaultContractor Default or for failure to meet any Condition Precedent. Upon such invocation, encashment and appropriation from the Performance Security, the Concessionaire Contractor shall, within [30 15 (thirty)] fifteen) 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 Concessionaire shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate this Agreement in accordance with Article 3731. Upon Provided that upon appropriation on account of Contractor’s Default the Contractor shall replenish the Performance Security and upon such replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Concessionaire Contractor shall be entitled to an additional Cure Period of [90 120 (ninety)] one hundred and twenty) days for remedying the Concessionaire Contractor Default, save and except as provided in Clause 4.5 of this Agreement, and in the event of the Concessionaire Contractor 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 3731.

Appropriation of Performance Security. 9.2.1 Upon occurrence of a Concessionaire Concessionaire’s Default, the Authority shall, without prejudice to its other rights and remedies hereunder or in law, be entitled to invoke, encash invoke and appropriate the relevant amounts from the Performance Security/Operations and Maintenance Security as Damages for such Concessionaire Default. Upon such invocationencashment, encashment invocation and appropriation from the Performance Security/Operations and Maintenance Security, the Concessionaire shall, within [30 (thirty)] ) days thereof, replenish, in case of partial appropriation, to its original level the Performance Security, /Operations and Maintenance Security and in case of appropriation of the entire Performance Security/Operations and Maintenance Security provide a fresh Performance Security/Operations and Maintenance Security, as the case may be, and the Concessionaire shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing to which the Authority shall be entitled to terminate this Agreement in accordance with Article 3728. Upon replenishment or furnishing of a fresh Performance Security/Operations and Maintenance Security, 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, the Authority shall be entitled to invokeencash, encash invoke and appropriate such Performance Security/Operations and Maintenance Security as Damages, and to terminate this Agreement in accordance with Article 3728.

Appropriation of Performance Security. Upon occurrence of a Concessionaire DefaultDefault during the Concession Period or failure tomeet any Condition Precedent, 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 Concessionaire Default. Upon such invocation, encashment and appropriation from the Performance Security, the 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 afresh Performance Security, as the case may be, Security and the Concessionaire shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate this Agreement in accordance with Article 3734 and appropriate the balance amount of Performance Security (if any available). Upon Provided however, upon replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, Security the Concessionaire shall be entitled to an additional Cure Period of [90 30 (ninety)] thirty) days for remedying the Concessionaire DefaultDefault during the Development Period, and in the event of the 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 3734. For the avoidance of doubt the aforesaid provision shall be applicable only for theDevelopment Period.

Appropriation of Performance Security. oject Upon occurrence of a Concessionaire Default, the Authority MOPIT 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 Concessionaire Default. Upon such invocation, encashment and appropriation from the Performance Security, the 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 Concessionaire shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority MOPIT shall be entitled to terminate this Agreement in accordance with Article 37. Upon replenishment or furnishing of a fresh Performance Security, 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, the Authority MOPIT shall be entitled to invoke, encash and appropriate such Performance Security as Damages, and to terminate this Agreement in accordance with Article 37. .

Appropriation of Performance Security. Upon occurrence of a Concessionaire DefaultSupplier Default or failure to meet any Condition Precedent, the Authority Aggregator 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 the amounts due to it for and in respect of such Concessionaire DefaultSupplier Default or for failure to meet any Condition Precedent. Upon such invocation, encashment and appropriation from the Performance Security, the Concessionaire Supplier shall, within [30 15 (thirty)] fifteen) 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 Concessionaire shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority Aggregator shall be entitled to terminate this Agreement in accordance with Article 3719. Upon such replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Concessionaire Supplier shall be entitled to an additional Cure Period of [90 120 (ninety)] one hundred and twenty) days for remedying the Concessionaire DefaultSupplier Default or to meet any Condition Precedent, and in the event of the Concessionaire Supplier not curing its default or meeting such Condition Precedent within such Cure Period, the Authority Aggregator shall be entitled to invoke, encash and appropriate such the Performance Security as Damages, and to terminate this Agreement in accordance with Article 3719.

Appropriation of Performance Security. Upon occurrence of a Concessionaire DefaultDefault 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 invoke, encash and appropriate the relevant amounts from the Performance Security as Damages for such Concessionaire DefaultDefault or failure to meet any Condition Precedent. Upon such invocation, encashment and appropriation from the Performance Security, the 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 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 this Agreement in accordance with Article 37. Upon replenishment or furnishing of a fresh Performance Security, 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 DefaultDefault or to meet any Condition Precedent, and in the event of the Concessionaire not curing its default or meeting such Condition Precedent within such Cure Period, the Authority Government shall be entitled to invoke, encash and appropriate such Performance Security as Damages, and to terminate this Agreement in accordance with Article 37.

Appropriation of Performance Security. Upon occurrence of a Concessionaire Company/Consortium Default, the Authority shallCPI, without prejudice to its other rights and remedies hereunder or in law, shall be entitled to invoke, encash and appropriate the relevant amounts from the Performance Security as Damages damages for such Concessionaire Company/Consortium Default. Upon such invocation, encashment and appropriation from the Performance Security, the Concessionaire 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 Concessionaire 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 this Agreement in accordance with Article 3726. Upon replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Concessionaire Company/Consortium shall be entitled to an additional Cure Period of [90 (ninety)] ) days for remedying the Concessionaire Company/Consortium Default, and in the event of the Concessionaire Company/Consortium not curing its default within such Cure Period, the Authority CPI shall be entitled to invoke, encash and appropriate such Performance Security as Damages, and to terminate this Agreement in accordance with Article 3726.

Appropriation of Performance Security. Upon occurrence of a Concessionaire Default, the Authority shall, without prejudice to its other rights and remedies hereunder or in law, be entitled to invokeencash, encash invoke and appropriate the relevant amounts from the Performance Security as Damages for such Concessionaire Default. Upon such invocationencashment, encashment invocation and appropriation from the Performance Security, the 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 Concessionaire shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate this Agreement in accordance with Article 3733. Upon replenishment or furnishing of a fresh Performance Security, 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, the Authority shall be entitled to invokeencash, encash invoke and appropriate such Performance Security as Damages, and to terminate this Agreement in accordance with Article 3733.

Appropriation of Performance Security. Upon occurrence of a Concessionaire Default, the Authority GOTN, HD 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 Concessionaire Default. Upon such invocation, encashment and appropriation from the Performance Security, the 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 Concessionaire shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority GOTN, HD shall be entitled to terminate this Agreement in accordance with Article 37. Upon replenishment or furnishing of a fresh Performance Security, 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, the Authority GOTN, HD shall be entitled to invoke, encash and appropriate such Performance Security as Damages, and to terminate this Agreement in accordance with Article 37. Further upon termination on account of Concessionaire’s default before COD, then GOTN, HD shall encash and appropriate the entire Performance Security submitted by the Concessionaire earlier pursuant to Clause 9.1.

Appropriation of Performance Security. Upon occurrence of a Concessionaire DefaultDefault 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 invoke, encash and appropriate the relevant amounts from the Performance Security as Damages the amounts due to it for and in respect of such Concessionaire DefaultDefault or for failure to meet any Condition Precedent. Upon such invocation, encashment and appropriation from the Performance Security, the Concessionaire shall, within [30 15 (thirty)] fifteen) 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 Concessionaire shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate this Agreement in accordance with Article 3731. Upon Provided that upon appropriation on account of Concessionaire‟s Default the Concessionaire shall replenish the Performance Security and upon such replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Concessionaire shall be entitled to an additional Cure Period of [90 120 (ninety)] one hundred and twenty) days for remedying the Concessionaire Default, save and except as provided in Clause 4.5 of this Agreement, and in the event of the 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 3731.

Appropriation of Performance Security. 2.2.1 Upon occurrence of a Concessionaire Defaultan Operator’s Event 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 invoke, encash and appropriate the relevant amounts from the Performance Security as Damages for such Concessionaire DefaultOperator's Event of Default or failure to meet any Condition Precedent. Upon such invocation, encashment and appropriation from the Performance Security, the Concessionaire 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 provide a fresh Performance Security, as the case may be, and the Concessionaire Operator shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate this Agreement Contract in accordance with Article 3722 4 [Drafting Note: The Performance Security shall be 10% of the Project Cost. Project Cost shall be the cost of procurement of Buses and other associated cost such as plant and equipment at Bus Depot] of this Contract. Upon replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Concessionaire Operator shall be entitled to an additional Cure Period of [90 (ninety)] days in accordance with Clause 22.1 for remedying the Concessionaire DefaultOperator Event of Default or satisfying the Condition(s) Precedent, and in the event of the Concessionaire Operator not curing its default within such Cure PeriodPeriod or not meeting the Conditions Precedent, the Authority shall be entitled to invoke, encash and appropriate such Performance Security as Damages, and to terminate this Agreement Contract in accordance with Article 3722.

Appropriation of Performance Security. Upon occurrence of a 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 Concessionaire Default. Upon such invocation, encashment and appropriation from the Performance Security, the 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 Concessionaire shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate this Agreement in accordance with Article 3732. Upon replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Concessionaire shall be entitled to an additional Cure Period of [90 30 (ninety)] thirty) days for remedying the Concessionaire Default, and in the event of the Concessionaire not curing its default within such Cure Period, the Authority shall be entitled to invoke, encash and appropriate such the Performance Security as Damages, and to terminate this Agreement in accordance with Article 3732.

Appropriation of Performance Security. Upon occurrence of a Concessionaire DefaultDefault 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 invoke, encash and appropriate the relevant amounts due and payable as liquidated damages from the Performance Security as Damages for such Concessionaire DefaultDefault 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 invocation, encashment and appropriation from of the Performance Security, the 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 Concessionaire shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate this Agreement in accordance with Article 3732. Upon such replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Concessionaire shall be entitled to an additional Cure Period of [90 120 (ninety)] one hundred and twenty) days for remedying the Concessionaire DefaultDefault or for satisfying any Condition Precedent, and in the event of the Concessionaire not curing its default or meeting such Condition Precedent 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 in accordance with Article 3732.

Appropriation of Performance Security. Upon occurrence of a Concessionaire DefaultDefault 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 invoke, encash and appropriate the relevant amounts from the Performance Security as Damages for such Concessionaire DefaultDefault or failure to meet any Condition Precedent. Upon such invocation, encashment and appropriation from the Performance Security, the 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 Concessionaire shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate this tins Agreement in accordance with Article 37. Upon replenishment or furnishing of a fresh Performance Security, 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 DefaultDefault or to meet any Condition Precedent, and in the event of the Concessionaire not curing its default or meeting such Condition Precedent 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 37.

Appropriation of Performance Security. Upon occurrence of a Concessionaire DefaultDefault 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 invoke, encash and appropriate the relevant amounts from the Performance Security as Damages for such Concessionaire DefaultDefault or failure to meet any Condition Precedent. Upon such invocation, encashment and appropriation from the Performance Security, the Concessionaire shall, within [30 (thirty)] 15(fifteen) 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 Concessionaire shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate this Agreement in accordance with Article 3738. Upon replenishment or furnishing of a fresh Performance Security, 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 DefaultDefault or to meet any Condition Precedent, and in the event of the Concessionaire not curing its default or meeting such Condition Precedent 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 3738.

Appropriation of Performance Security. 8.2.1 Upon occurrence of a Concessionaire DefaultConcessionaire’s default or failure to fulfil the obligations under this Agreement, the Hospital Authority shall, without prejudice to its other rights and remedies hereunder or in law, be entitled to invoke, encash and appropriate the relevant amounts amount due and payable as liquidated damages from the Performance Security as Damages for such Event of Concessionaire Defaultdefault. Upon such invocation, encashment and appropriation from the relevant Performance Security, the Concessionaire shall, within [30 15 (thirty)] fifteen) 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 Concessionaire shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate this Agreement in accordance with Article 3711 of this Agreement. Upon replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Concessionaire shall be entitled to an additional Cure Period of [90 60 (ninety)] sixty) days for remedying the Concessionaire Default, and in the event of the Concessionaire not curing its default within such Cure Period, the Authority shall be entitled to invoke, encash and appropriate such Performance Security as Damagesdamages, and to terminate this Agreement in accordance with Article 3711 of this Agreement.

Appropriation of Performance Security. Upon occurrence of a 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 Concessionaire Default. Upon such invocation, encashment and appropriation from the Performance Security, the 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 Concessionaire shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate this Agreement in accordance with Article 37. Upon replenishment or furnishing of a fresh Performance Security, 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, the Authority shall be entitled to invoke, encash and appropriate such Performance Security as Damages, and to terminate this Agreement in accordance with Article 37. Further upon termination on account of Concessionaire‟s default before COD, then the Authority shall encash and appropriate the entire Performance Security submitted by the Concessionaire earlier pursuant to Clause 9.1.