Maintenance Security. DB Contractor shall obtain and provide to TxDOT on or before 60 Days after issuance by TxDOT of Maintenance NTP1, and shall maintain at all times during the Maintenance Period in accordance with this CMA, including during the Initial Maintenance Term and all subsequent Maintenance Terms for which a Maintenance NTP has been issued, adequate security securing DB Contractor’s obligations hereunder in the form of either (i) the P&P Letter of Credit in accordance with Sections 7.2 and 7.3 or (ii) the Maintenance Performance Bond and Maintenance Payment Bond in accordance with Section 7.4 (the “Maintenance Security”).
Maintenance Security. 4.1 P&P Letter of Credit; Maintenance Payment and Performance Bonds
Maintenance Security. DB Contractor shall provide to TxDOT no later than 120 days prior to the Initial Maintenance Term Commencement Date, and shall maintain at all times during the Maintenance Period, including during the Initial Maintenance Term and all subsequent Maintenance Terms for which a Maintenance NTP has been issued, adequate security securing DB Contractor’s obligations hereunder in the form of either (i) the P&P Letter of Credit in accordance with Sections 3.2.1 and
Maintenance Security. The amount of the Performance Security may be reduced to a reasonable sum as determined by the Town Engineer to cover Developer’s warranty obligations hereunder, thus establishing a Maintenance Security instrument. The Maintenance Security shall remain in place until the Security is released by the Town at the time of dedication and acceptance.
Maintenance Security. Developer acknowledges that, pursuant to Section 509 of the Penn- sylvania Municipalities Planning Code, the Township is entitled to require the posting of Financial Security to secure the structural integrity of the Township Improvements, as well as the functioning of said Township Improvements, which are to be dedicated to the Township in accordance with the design and specifications as depicted on the final Plans (the "Maintenance Security"). This posting of Maintenance Security shall be for a period not to exceed eighteen (18) months from the date of the acceptance of the dedicated public improvements. It is agreed by Developer that simultaneously with the offering of deeds of dedication, Developer will supply Maintenance Security in the form authorized by the statute aforesaid and acceptable to the Township Solicitor, in an amount not to exceed fifteen (15%) percent of the actual costs of installation of said Township Improvements, said security being posted for a period of eighteen (18) months to guarantee the structural integrity of the Township Improvements as aforesaid. A condition to the Maintenance Security to be posted herein shall be that Developer shall, for the period of eighteen (18) months as aforesaid, repair and maintain such Township Improvements and construct and make good and replace all materials, equipment and work, and remedy all defects in materials, equipment and workmanship, all shrinkage, settlement and other defaults of any kind whatsoever arising therefrom at its own expense, and to the satisfaction of the Township, when notified in writing to do so. Developer agrees that the Township shall have the right to make or cause to be made good or replace all inferior materials, equipment and workmanship, and remedy all defects in materials, equipment and workmanship, all shrinkage, settlement or other faults of any kind whatsoever arising therefrom in case Developer shall fail or refuse to do so in accordance with the terms of this Agreement. In the event that the Township should exercise and give effect to such rights, Developer shall be liable hereunder to pay and indemnify the Township upon completion for the final cost thereof to the Township, including but not limited to engineering, legal and any associated costs, together with any damages, either direct or consequential, which the Township may sustain as a result of the failure of Developer to carry out and execute all of the provisions of this Agreement. In addition to the ...
Maintenance Security. 14.1 The Supplier will provide a maintenance security in the amount of 3% of the value offer.
14.2 The Supplier warrants that the Goods supplied under the Contract are brand new, unused, of the most recent or current models and incorporate all recent improvements in design and materials unless provided otherwise in the contract. The Supplier further warrants that all Goods supplied under this Contract shall have no defect arising from design, materials or workmanship (except insofar as the design or material is required by the Purchaser's Specifications) or from any act or omission of the Supplier, that may develop under normal use of the supplied Goods in the conditions obtaining in the country of final destination.
14.3 Upon receipt of such notice, the Supplier shall, with all reasonable speed, repair or replace the defective Goods or parts thereof, without costs to the Purchaser other than, where applicable, the cost of inland delivery of the repaired or replaced Goods or parts from the port of entry to the final destination.
14.4 If the Supplier, having been notified, fails to remedy the defect(s) within a reasonable period, the Purchaser may proceed to take such remedial action as may be necessary, at the Supplier's risk and expense and without prejudice to any other rights which the Purchaser may have against the Supplier under the Contract, including the liquidation of the maintenance security.
Maintenance Security. The Company will use its best efforts to provide standard maintenance for the Platform during the term of this Agreement, which will include enhancements, "bug fixes" and other modifications as may be identified by the Company. The Company may make additional modifications or releases to the Platform and the underlying source code as the Company may determine in its sole and absolute discretion. Notwithstanding the foregoing, to the extent any such modifications or releases are reasonably expected to reduce, inhibit, impair, or otherwise adversely affect the functionality or performance of the Platform, the Company will use commercially reasonable efforts to notify Client of such changes with as much notice as is reasonably practicable. The Company will, at all times, implement and maintain all appropriate technical, administrative, physical, and organizational measures.
Maintenance Security. The Maintenance Security is required upon the reduction of the Performance Security and at the start of the Warranty Period. The Maintenance Security guarantees the completed work against any latent defects during the Warranty Period.
Maintenance Security. During the Study, Site shall promptly notify IQVIA or its designee of any malfunctioning Equipment and IQVIA shall use reasonable efforts to replace or repair any malfunctioning Equipment at no expense for Site, unless such malfunction is due to the negligence or willful misconduct of Site. Site shall implement reasonable and appropriate administrative, physical and technical safeguards to protect the confidentiality, integrity and availability of all data on any electronic Equipment.
Maintenance Security. 24.1.1 The Technology Partner shall, for the performance of its obligations hereunder between the date of completion of Supply Period and the Transfer Date, provide to the Government, no later than 30 (thirty) days prior to the completion of Supply Period, an irrevocable and unconditional guarantee from a Bank, to take effect on completion of the Supply Period, for a sum calculated at the rate of Rs 2(two)crore per Train subject to a maximum limit of Rs 200 (two hundred) crore as performance security in the form set forth in Schedule-C (the “Maintenance Security”), to be modified, mutatis mutandis, for this purpose. Until such time the Maintenance Security is provided by the Technology Partner pursuant hereto and the same comes into effect, the Performance Security shall remain in force and effect, and upon such provision of the Maintenance Security pursuant hereto, the Government shall release the Performance Security to the Technology Partner.
24.1.2 The Parties expressly agree that the Technology Partner may furnish Maintenance Security valid for 3 (three) years at a time; provided that the Technology Partner shall, 2 (two) months prior to the expiry of such Maintenance Security, submit a new Maintenance Security valid for a further period of 3 (three) years and repeat the process hereunder until expiry of the Agreement Period.
24.1.3 Notwithstanding anything to the contrary contained in this Agreement, in the event Maintenance Security is not provided by the Technology Partner within the period specified in Clause 24.1.1, such failure shall be deemed to be a Technology Partner Default and the Government shall be entitled to encash the Performance Security and appropriate the proceeds thereof as Damages, in accordance with the provisions of Clause 9.2.
