cession of Performance Guarantees Sample Clauses

cession of Performance Guarantees. 15.7.1 It is recorded that the Terminal Operator has ceded to and in favour of the Lenders, as security for the performance by the Terminal Operator of its obligations to the Lenders in respect of the Financing Agreements, all its right, title and interest in and to the Construction Performance Guarantee and the Operating Performance Guarantee. The Terminal Operator hereby irrevocably cedes all reversionary interests in the Construction Performance Guarantee and each Operating Performance Guarantee (which it may have after the aforesaid cession to the Lenders) to and in favour of the TNPA, as security for the Terminal Operator’s obligations to the TNPA in terms of this Agreement.
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cession of Performance Guarantees. 15.5.1 It is recorded that the Facility Operator has ceded to and in favour of the Lenders, as security for the performance by the Facility Operator of its obligations to the Lenders in respect of the Finance Agreements, all its right, title and interest in and to each Operation Guarantee. The Facility Operator hereby irrevocably cedes all reversionary interests in the Operation Guarantee (which it may have after the aforesaid cession to the Lenders) to and in favour of TNPA, as security for the Facility Operator's obligations to TNPA in terms of this Agreement.
cession of Performance Guarantees. 15.6.1 It is recorded that the Terminal Operator has ceded to and in favour of the Lenders, as security for the performance by the Terminal Operator of its obligations to the Lenders in respect of the Finance Agreements, all its right, title and interest in and to each Operations Performance Guarantee. The Terminal Operator hereby irrevocably cedes all reversionary interests in each Operations Performance Guarantee (which it may have after the aforesaid cession to the Lenders) to and in favour of TNPA, as security for the Terminal Operator's obligations to TNPA in terms of this Agreement.

Related to cession of Performance Guarantees

  • Suspension of Performance Notwithstanding any other provision hereof, if an Event of Default or a Potential Event of Default has occurred and is continuing, the Non-Defaulting Party, upon written notice to the Defaulting Party, has the right (i) to suspend performance under any or all Transactions and (ii) to the extent an Event of Default has occurred and is continuing, to exercise any remedy available at law or in equity, except as limited be Section 5.7.

  • Prohibition of Performance Requirements 1. The provisions of the Agreement on Trade-Related Investment Measures in Annex 1A to the WTO Agreement (TRIMs), which are not specifically mentioned in or modified by this Agreement, shall apply, mutatis mutandis, to this Agreement.

  • Evaluation of Performance School, in conjunction with Company personnel, is responsible for and shall make arrangements for evaluating Student’s performance during the clinical program.

  • Assessment of Performance The assignment of a teacher to a TLS position will be subject to review by the school district’s administration at least annually. The first review must be completed no later than five (5) work days before the beginning of the transfer process. The review shall include peer feedback on the effectiveness of the teacher’s performance of duty specific to the teacher’s TLS position. A teacher who completes an assignment in a TLS position may apply for assignment to a new TLS position.

  • Review of Performance The Board of Directors shall periodically review and evaluate the performance of Employee under this Employment Agreement with Employee.

  • 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.

  • Monitoring of Performance Vendor shall continuously monitor and record its performance to ensure that all of Vendor's responsibilities and obligations hereunder are being met and fulfilled. Citizens may conduct programmatic and other administrative contract monitoring during the term of this Agreement. The purpose of this monitoring is to ensure that all of Vendor's responsibilities and obligations are being met and fulfilled. Such monitoring may include on-site visits, report reviews, invoice reviews, compliance reviews, and a review of any other areas reasonably necessary. Vendor acknowledges and agrees that Citizens may also monitor and record Vendor Staff communications to the extent they occur within or are connected to any Citizens’ resource, such as electronic or telecommunications systems.

  • Commencement of Performance This Agreement is of no force and effect until signed by both parties and all JBE-required approvals are secured. Any commencement of performance prior to Agreement approval shall be at Contractor's own risk.

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