Common use of Encashment and appropriation of Performance Security Clause in Contracts

Encashment and appropriation of Performance Security. The Authority shall have the right to invoke and appropriate the proceeds of the Performance Security, in whole or in part, without notice to the Consultant in the event of breach of this Agreement or for recovery of liquidated damages specified in this Clause 7.2.

Encashment and appropriation of Performance Security. The Authority shall have the right to invoke and appropriate the proceeds of the Performance Security, in whole or in part, without notice to the Consultant Bidder in the event of breach of this Agreement or for recovery of liquidated damages specified in this Clause 7.2.

Encashment and appropriation of Performance Security. The Authority shall have the right to invoke and appropriate the proceeds of the Performance Security, in whole or in part, without notice to the Consultant in accordance with the provisions of clause 2.9.7 (b) or in the event of breach of this Agreement or for recovery of liquidated damages penalty specified in this Clause 7.212.2.