Appropriation of Performance Security. (i) Upon occurrence of a Contractor’s Default, the Authority shall, without prejudice to its other rights and remedies hereunder or in law, be entitled to encash and appropriate the relevant amounts from the Performance Security as Damages for such Contractor’s Default.
Appears in 21 contracts
Samples: Contract Agreement, Contract Agreement, Contract Agreement
Appropriation of Performance Security. (i) Upon occurrence of a Contractor’s Default, the Authority shall, without prejudice to its other rights and remedies hereunder or in law, be entitled to encash and appropriate the relevant amounts from the Performance Security as Damages for such Contractor’s Default.
Appears in 5 contracts
Samples: Contract Agreement, Engineering Procurement and Construction Agreement, Engineering Procurement and Construction Agreement
Appropriation of Performance Security. (i) Upon occurrence of a Contractor’s Contractor Default, the Authority shall, without prejudice to its other rights and remedies hereunder or in law, be entitled to encash and appropriate the relevant amounts from the Performance Security as Damages damages for Contractor Default. For the avoidance of doubt, the Parties expressly agree that upon the Performance Security being appropriated, in whole or in part, it shall be deemed to be replenished to the extent of such Contractor’s Defaultappropriation.
Appears in 2 contracts
Samples: Operate, Maintain and Manage Contract Agreement, Operate, Maintain and Manage Contract Agreement
Appropriation of Performance Security. (i) Upon occurrence of a Contractor’s Contractor‟s Default, the Authority shall, without prejudice to its other rights and remedies hereunder or in law, be entitled to encash and appropriate the relevant amounts from the Performance Security as Damages for such Contractor’s Contractor‟s Default.
Appears in 2 contracts
Samples: Engineering, Procurement and Construction Agreement, Epc Agreement