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. b) The selected Bidder is required to pay & deposit minimum 25% of the Interest Free Security Deposit/Performance Security in the form of DD/PO only in favour of DMRC Ltd, payable in Delhi/ New Delhi & issued by a scheduled commercial bank , the remaining or 75% of Interest Free Security Deposit/Performance Security can be paid &submitted in the form of Bank Guarantee (BG)/DD/PO in favour of DMRC Ltd. Interest Free Security Deposit/Performance Security upto Rs.10 lakh shall be payable in the form of DD/PO only. c) The interest free Security Deposit/ Performance Security shall be accepted in the following form: Bank Draft/PO in favor of DMRC Ltd, payable at New Delhi & issued from a Scheduled Commercial Bank based in India, or Irrevocable Bank Guarantee in the prescribed format, as per annexure-III, of DLA, issued by the State Bank of India or any other Nationalized Bank or any other Scheduled Commercial Bank, acceptable to DMRC, from/payable at branches located in Delhi/ New Delhi. The Bank Guarantee shall be valid for at least three years. The Bank Guarantee shall be extended and renewed every three years, on rolling basis well before expiry of previous Bank Guarantee, failing which the previous Bank Guarantee shall be invoked and encashed by DMRC without any prior intimation to the licensee. For last year of license period the Bank Guarantee shall be extended and renewed for residual period of contract plus six months and shall renew it further, if required, till the final settlement of all accounts failing which the Bank Guarantee of the Licensee shall be invoked and en-cashed by DMRC without any notice to the licensee. The BG issuing bank must be on structured financial messaging system (SFMS) platform and an advice of Bank Guarantee must invariably be sent by the issuing bank to the designated bank of DMRC through SFMS before it becomes operative & acceptable to DMRC. It is therefore in the own interest of the licensee to obtain from DMRC details of its designated bank & to advise these to the BG issuing Bank & request them to send advice of the BG through the SFMS platform. DMRC’s designated bank, at present for confirmation of ...
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Interest Free Security Deposit / Performance Security. 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. The Licensee shall pay Interest Free Security Deposit / Performance Security to NMRC in advance of amount equivalent to the 06 (six) months i.e. 1st year’s license fee.The interest free security deposit can be paid within Thirty (30) days of Letter of Acceptance. If actual handed over commercial space will be less than the offered area, no adjustment in interest free security deposit will be done by NMRC. If Licensee fails to make the payment of interest free security deposit/performance security within the stipulated time frame of 30 days from the date of issue of LOA, the NOA and LOA may stand cancelled, and any payments made to NMRC shall be forfeited in favor of NMRC Limited. No request for extension of time in making the NOA payment shall be considered. The interest free Security Deposit shall be accepted in the form of FDR/DD/NEFT or RTGS only. The FDR issuing branch of Bank must be located in the DELHI/ NOIDA/ Greater NOIDA/ Gurugram region only. The FDR from another branch will not be accepted.. If actual handed over area will be more than offered area up to the extent of 10%, the license fee will be charged on pro – rata basis and no differential security deposit will be paid by licensee.
Sample 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: 7.1.1 Bank Draft in favour of DMRC, payable at New Delhi from a Scheduled Commercial Bank based in India, or
Sample 1
Interest Free Security Deposit / Performance Security. 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

Related to Interest Free Security Deposit / Performance Security

  • Performance Security 47.1 Within twenty-one (21) days of the receipt of Letter of Acceptance from the Procuring Entity, the successful Tenderer, if required, shall furnish the Performance Security in accordance with the GCC 18, using for that purpose the Performance Security Form included in Section X, Contract Forms. If the Performance Security furnished by the successful Tenderer is in the form of a bond, it shall be issued by a bonding or insurance company that has been determined by the successful Tenderer to be acceptable to the Procuring Entity. A foreign institution providing a bond shall have a correspondent financial institution located in Kenya, unless the Procuring Entity has agreed in writing that a correspondent financial institution is not required. 47.2 Failure of the successful Tenderer to submit the above-mentioned Performance Security or sign the Contract shall constitute sufficient grounds for the annulment of the award and forfeiture of the Tender Security. In that event the Procuring Entity may award the Contract to the Tenderer offering the next lowest Evaluated Tender. 47.3 Performance security shall not be required for a contract, if so specified in the TDS.

  • Security Deposit The Tenant deposits the sum of $ receipt of which is hereby acknowledged; which shall be deposited by Owner/Agent in a trust account with HomeStreet Bank, whose address is the Federal Way Branch. The security/damage deposit may be applied to secure the terms of this Rental Agreement, including, but not limited to, unpaid rent and utilities, non-refundable fees, legal services and to repair any physical damage to the premises or property in accordance with Item 11b of this lease. Refund of deposit is conditioned as follows: a. Tenant shall fully perform obligations here under and those pursuant to the Residential Landlord Tenant Act of the State of Washington (RCW 59.18). b. Tenant shall remain for the full term of the agreement. c. Tenant shall, upon vacating of residence, clean and restore said residence to its original condition except for reasonable wear and tear. d. All keys shall be returned to Owner/Agent upon vacating of premises and the property shall not be considered vacated until return of all keys and garage door remotes. The Charges for items not returned: Keys $15.00 each. Garage door remote $50.00. e. Tenant shall have carpets professionally cleaned at tenant’s expense upon vacating premises. Carpet cleaners must be approved by Owner/Agent and receipt for same shall be provided to Owner/Agent with return of keys. f. Tenant shall cause no liens to be placed upon the property. g. Tenants shall have all interior windows and blinds professionally cleaned at tenants’ expense upon vacating premises. Tenants shall provide Owner/Agent receipt for same with return of keys. h. It is understood by Tenant that the security deposit shall NOT be applied towards last month’s rental payment and that the last month’s rent shall be due and payable on the first day of that month. i. Tenant agrees that the security deposit may be mailed to the Coldwell Banker Commercial Xxxxxxxx office in Federal Way, WA and will be deposited by the end of the next banking day when received, but in no event will it be deposited more than 7 business days after receipt from Property Manager. j. Refund of security deposits, if any, will be made payable to the name(s) of tenant(s) on the current lease.

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