Construction Performance Guarantee Sample Clauses

Construction Performance Guarantee. 15.2.1 The Terminal Operator shall obtain the Construction Performance Guarantee, which shall be an on demand guarantee in favour of the Terminal Operator, from the Construction Contractor as at the Effective Date in the amount of R[insert amount in millions], (which amount shall reduce to R[insert amount in millions] upon the issue of the Completion Certificate upon completion of the Construction Works as contemplated in clause 28.4 (completion of Construction Works)) to secure the performance by the Construction Contractor of its obligations in terms of the Construction Agreement, as at the Effective Date.
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Construction Performance Guarantee. The Terminal Operator shall obtain the Construction Performance Guarantee, which shall be an on demand guarantee in favour of the Terminal Operator, from the Construction Contractor as at the Effective Date in the amount of R[insert amount in millions], (which amount shall reduce to R[insert amount in millions] upon the issue of the Completion Certificate upon completion of the Construction Works as contemplated in clause 28.4 (completion of Construction Works)) to secure the performance by the Construction Contractor of its obligations in terms of the Construction Agreement, as at the Effective Date. The Construction Performance Guarantee shall be substantially in the form of the guarantee attached to this Agreement as Schedule 14. The Construction Performance Guarantee shall be valid from the Effective Date until the expiry of the Completion Defects Rectification Period (as this latter term is defined in the Construction Agreement) and shall be returned to the Terminal Operator within 14 (fourteen) days after the expiry of the Completion Defects Rectification Period.
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Related to Construction Performance Guarantee

  • Performance Guarantee 9.4.1 The Concessionaire shall, for the performance of its obligations hereunder during the Concession Period, provide to the Authority no later than [90] days prior to expiry of the Performance Security, an irrevocable and unconditional guarantee from a Bank for a sum equivalent to Rs. ***** crore (Rupees ***** crore)7 in the form set forth in Schedule-FF (the “Performance Guarantee”). Until such time the Performance Guarantee is provided by the Concessionaire pursuant hereto and the same comes into effect, notwithstanding anything contained in clause 9.3 the Performance Security shall remain in force and effect, and upon such provision of the Performance Guarantee pursuant hereto, the Authority shall release the Performance Security to the Concessionaire.

  • Performance Guarantees Contractor agrees to provide the County the performance guarantees specified in Attachment A and to pay any penalties incurred in accordance with the terms of Attachment A.

  • CONTRACTOR PERFORMANCE Agencies shall report any Contractor failure to perform according to the requirements of this Contract on Complaint to Vendor, form PUR7017. Should the Contractor fail to correct the problem within a prescribed period of time, then form PUR7029, Request for Assistance, is to be filed with this office.

  • The Service Guarantee Due to circumstances beyond the control of the Service, particularly delays in handling and posting payments by Billers or financial institutions, some transactions may take longer to be credited to your account. The Service will bear responsibility for any late payment related charges up to $50.00 should a payment post after its Due Date as long as the payment was scheduled in accordance with the Section 2 of the Bill Payment Terms (Payment Scheduling).

  • Payment Guarantee 20.1 On Contracts where one hundred (100%) percent performance bonds and payment bonds are executed, this Article 20 does not apply.

  • Rating of Overall Educator Performance The Educator’s overall performance rating is based on the Evaluator’s professional judgment and examination of evidence of the Educator’s performance against the four Performance Standards and the Educator’s attainment of goals set forth in the Educator Plan, as follows:

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