Interest Free Security Deposit / Performance Security Sample Clauses

Interest Free Security Deposit / Performance Security a) The selected Bidder(s)/Licensee shall submit & pay Interest Free Security Deposit/Performance Security to DMRC equivalent to half yearly (6 months) License Fee as quoted by the bidder for the total number of trains as mentioned in Annexure-1 for Line-8. May also please refer to Clause 3.5 (Chapter 3) of RFP in this regard.
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Interest Free Security Deposit / Performance Security. 7.1 Interest Free Security Deposit / Performance Security: The Licensee shall pay Interest Free Security Deposit / Performance Security to DMRC in advance equivalent to the amount of fixed Annual (12 months) License Fee for the stations handed over. The amount will be paid in as per clause 6.2 of the DLA. Minimum 25% of this amount is to be paid in form of DD/PO in favor of DMRC Ltd. and payable in New Delhi, and remaining or 75% in form of BG/DD/PO in favour of DMRC Ltd and payable in New Delhi. Interest free Security Deposit up to Rs.10.00 Lakhs will be accepted in form of DD/PO only in favour of DMRC Ltd. Interest free security deposit/performance Security is to be paid in the following form. Escalated amount of Interest Free Security Deposit shall be deposited in DD/PO or E-mode only.
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Interest Free Security Deposit / Performance Security. 7.1 Interest Free Security Deposit / Performance Security: The Licensee shall pay Interest Free Security Deposit / Performance Security to DMRC in advance equivalent to the amount of fixed Annual (12 months) License Fee for the station handed over. The amount will be paid in two installments as per clause 6.2 of DLA. Minimum 25% of this amount would be paid in form of DD/PO in favor of DMRC Ltd. and remaining or 75% in form of BG/FDR/DD/PO. Interest free Security Deposit upto Rs 10.00 lakhs will be accepted in form of DD/PO only. The interest free Security Deposit/ Performance Security shall be accepted in the following form:
Sample 1
Interest Free Security Deposit / Performance Security. 7.1 The Licensee shall deposit Interest Free Security Deposit / Performance Security to DMRC in advance equivalent to half of the Annual license fee calculated on a minimum average area given in Annexure1&2 for each of the station handed over or actual area of approved plan of advertisements as on date of submission of Interest Free Security Deposit / Performance Security, whichever is higher, at the rate applicable for subsequent financial year.
Sample 1
Interest Free Security Deposit / Performance Security. 3.20 The selected Bidder(s) shall submit Interest Free Security Deposit / Performance Security to DMRC equivalent to 1.1 times the Annual License Fee applicable for the year under consideration (based on area handed over in that year) for which Interest Free Security Deposit/ performance security is being submitted. In case of subsequent handing over of additional area to the licensee, Interest Free Security Deposit/ performance security shall be updated as per updated area under possession of licensee. The Interest Free Security Deposit/ performance security shall be payable for each Bidding schedule I, II, III & IV in any one of the following forms:
Sample 1
Interest Free Security Deposit / Performance Security. 7.1 Interest Free Security Deposit / Performance Security: The Licensee shall pay Interest Free Security Deposit / Performance Security to DMRC in advance equivalent to the amount of fixed Annual License Fee for the station handed over. The interest free Security Deposit / Performance Security shall be accepted in the following form:
Sample 1
Interest Free Security Deposit / Performance Security. Interest Free Security Deposit / Performance Security: The Licensee shall pay Interest Free Security Deposit / Performance Security to DMRC in advance equivalent to the amount of fixed Annual (12 months) License Fee for the station handed over.The amount will be paid in two installments as per clause 6.2 of DLA. Interest free security deposit/performance Security is to be paid in the following form.Interest free security deposit upto Rs. 10.00 lakhs has to be paid by DD/PO only (in favour of DMRC Ltd, and drawn on a scheduled Commercial bank in Delhi). For amount exceeding Rs. 10 lakhs, minimum 50 % in the form of DD/PO (upto a maximum of 50 lakhs) and 50% or balance amount in form of BG/FDR in favour of DMRC Ltd. Illustration: If Interest Free Security Deposit to be paid is calculated as Rs. 75 lakhs, then first Rs. 10 lakhs by DD/PO. For remaining Rs. 65 lakhs, Rs. 32.5 lakhs by DD/PO and remaining Rs. 32.5 lakhs by BG/FDR. Therefore in the above illustration Rs. 42.5 lakhs is to be paid in form of DD/PO and balance Rs. 32.5 lakhs in form of BG/FDR.The interest free Security Deposit/ Performance Security shall be accepted in the following form:
Sample 1
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Interest Free Security Deposit / Performance Security. 7.1 Interest Free Security Deposit / Performance Security: The Licensee shall pay Interest Free Security Deposit / Performance Security to DMRC in advance equivalent to the amount of the first yearAnnual License Fee for the station handed over. Payment plan of IFSD: Minimum 35% or up to Rs. 10 Lakh of the IFSD, whichever is higher, is in the form of DD/PO/RTGS/NEFT in favour of DMRC Limited payable at Delhi. Remaining 65% or above Rs. 10 Lakh of the IFSD may be submitted in form of BG/FDR/DD/PO/RTGS/NEFT.
Sample 1

Related to Interest Free Security Deposit / Performance Security

  • Performance Security If our Tender is accepted, we commit to obtain a performance security in accordance with the Tendering document;

  • Release of Performance Security (i) The Authority shall return the Performance Security to the Contractor within 60 (sixty) days of the expiry of the Maintenance Period or the Defects Liability Period, whichever is later, under this Agreement. Notwithstanding the aforesaid, the Parties agree that the Authority shall not be obliged to release the Performance Security until all Defects identified during the Defects Liability Period have been rectified.

  • 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.

  • Security Deposits The Owner hereby grants the Agent power to collect security deposits from the tenants on the Property. Returning said security deposit shall be the responsibility of the: (check one) ☐ - Agent for returning to vacating tenants. ☐ - Owner for returning to vacating tenants.

  • SECURITY DEPOSIT Upon execution of this Lease, Tenant shall deposit with Landlord the amount of the Security Deposit specified on [Page One], of this Lease. The Security Deposit will be returned to Tenant without interest upon the expiration of the Term of the Lease, provided that Xxxxxx has paid all amounts due under this Lease and has otherwise performed all obligations hereunder. In the event that Tenant defaults under any provision of this Lease, and after the expiration of any applicable cure period, Landlord may apply all, or any part of the Security Deposit to amounts owed by Tenant. In the event Landlord elects to apply the Security Deposit as provided for above, Tenant shall promptly restore such Security Deposit to the original amount. Landlord may, at its discretion, commingle such funds with its other funds, Upon any sale or other conveyance of the Building, Landlord may transfer the Security Deposit (or any amount of the Security Deposit remaining) to a successor/owner, and Xxxxxx agrees to look solely at the successor/owner for repayment of the same. Notwithstanding anything to the contrary in the paragraph above, in lieu of a cash Security Deposit, Tenant may deliver the Security Deposit in the form of an unconditional, clean, irrevocable standby letter of credit, in a form acceptable to Landlord, and issued by a bank reasonably acceptable to Landlord (the “Letter of Credit”) as security, provided the Letter of Credit shall be delivered to Landlord with executed copies of this Lease. The Letter of Credit shall (i) be unconditional, irrevocable, transferable, payable to Tenant upon presentment of original to the issuer in person or by courier, in partial or full draws, and (ii) contain an “evergreen” provision which provides that it is automatically renewed on an annual basis (subject to the permitted date of termination set forth below) unless the issuer delivers thirty (30) days’ prior written notice of cancellation to Landlord and Tenant. Without limiting any of Landlord’s rights or remedies hereunder, if the bank issuing the Letter of Credit provides Landlord with a cancellation notice, Landlord may immediately draw upon all or any part of the Letter of Credit and Tenant shall provide Landlord with an additional irrevocable stand-by letter of credit as provided below. Any and all fees or costs charged by the issuer in connection with the Letter of Credit shall be paid by Xxxxxx. The irrevocable stand-by Letter of Credit shall remain effective through the date that is sixty (60) days following the expiration date this Lease. If Tenant defaults with respect to any provision of this Lease beyond applicable notice and cure periods, including but not limited to the provisions relating to the payment of Rent, Landlord may draw upon all or any part of Tenant’s Letter of Credit. If any portion of the Security Deposit is so used, applied, or retained, Tenant will within ten (10) days after written demand from Landlord, provide to Landlord an additional irrevocable, stand-by letter of credit, which shall be in form and substance satisfactory to Landlord, issued by a bank reasonably acceptable to Landlord, in an amount sufficient to restore the Security Deposit to its required amount pursuant to this Section 8. Tenant’s failure to replenish the Security Deposit shall constitute a failure to pay Additional Rent and Tenant shall have ten (10) days from the date of notice to cure such default.

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