Common use of Appropriation of Performance Security Clause in Contracts

Appropriation of Performance Security. (i) Upon occurrence of a Contractor’s Default, the Authority shall, without prejudice to its other rights and remedies hereunder or in law, be entitled to encash and appropriate the relevant amounts from the Performance Security as Damages for such Contractor’s Default. (ii) Upon such encashment and appropriation from the Performance Security, the Contractor shall, within 30 (thirty) days thereof, replenish, in case of partial appropriation, to its original level the Performance Security, and in case of appropriation of the entire Performance Security provide a fresh Performance Security, as the case may be, and the Contractor shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate the Agreement in accordance with Article

Appropriation of Performance Security. (i) 7.3.1 Upon occurrence of a Contractor’s Default, the Authority shall, without prejudice to its other rights and remedies hereunder or in law, be entitled to encash and appropriate the relevant amounts from the Performance Security as Damages for such Contractor’s Default. (ii) 7.3.2 Upon such encashment and appropriation from the Performance Security, the Contractor shall, within 30 (thirty) days thereof, replenish, in case of partial appropriation, to its original level the Performance Security, and in case of appropriation of the entire Performance Security provide a fresh Performance Security, as the case may be, and the Contractor shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate the Agreement in accordance with Article

Appropriation of Performance Security. (i) Upon occurrence the DMRC being of a Contractor’s Defaultthe view that the Lessee has committed any breach or default of this Agreement, the Authority DMRC 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 such Contractor’s Default. (ii) breach or default. Upon such encashment and appropriation from the Performance Security, the Contractor Lessee shall, within 30 (thirty) days thereof, replenish, in case of partial appropriation, to its original level the Performance Security, and in case of appropriation of the entire Performance Security provide a fresh Performance Security, as the case may be, and the Contractor Lessee shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority DMRC shall be entitled to terminate this Agreement and forfeit the Agreement in accordance with Articleremaining amounts of the Performance Guarantee, if any.

Appropriation of Performance Security. (i) 9.2.1. Upon occurrence of a Contractor’s DefaultContractor Default during the subsistence of the Performance Security, the Authority GUDA shall, without prejudice to its other rights and remedies hereunder or in law, be entitled to encash invoke and appropriate the relevant amounts from the Performance Security as Damages for such Contractor’s Contractor Default. (ii) . Upon such encashment invocation and appropriation from the Performance Security, the Contractor 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 Contractor shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority GUDA shall be entitled to terminate the this Agreement in accordance with ArticleArticle 15.

Appropriation of Performance Security. (i) 7.3.1 Upon occurrence of a Contractor’s Contractor Default, the Authority shall, without prejudice to its other rights and remedies hereunder or in law, be entitled to encash and appropriate the relevant amounts from the Performance Security the amounts due to it as Damages for such Contractor’s the Contractor Default. (ii) 7.3.2 Upon such encashment and appropriation from the Performance Security, the Contractor shall, within 30 (thirty) days thereof, replenish, in case of partial appropriation, to its original level the Performance Security, and in case of appropriation of the entire Performance Security provide a fresh Performance Security, as the case may be, and the Contractor shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate the Agreement in accordance with Article

Appropriation of Performance Security. (i) 7.2.1 Upon occurrence of a Contractor’s DefaultDeveloper Event of Default or as per other provisions stipulated in this Agreement, the Authority shall, without prejudice to its other rights and remedies hereunder or in law, be entitled to encash encash, invoke and appropriate the relevant amounts from the Performance Security as Damages for such Contractor’s Default. (ii) damages. Upon such encashment encashment, invocation and appropriation from the Performance Security, the Contractor shall, Developer shall within 30 (thirty) days thereof, replenish, in case of partial appropriation, to its original level the Performance Security, and in case of appropriation of the entire Performance Security provide a fresh Performance Security, as the case may be, and the Contractor shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate the this Agreement in accordance with Articleprovisions of this Agreement.