Common use of Operation Performance Security Clause in Contracts

Operation Performance Security. The Concessionaire shall, for the performance of its obligations hereunder during the Operation Period, provide to the Authority no later than 30 (thirty) days from the date of issue of Completion Certificate by Independent Monitor[s], an irrevocable and unconditional guarantee from a Bank for a sum equivalent to [Rs. [●] (Rupees [●])]15 in the form set forth in Schedule-F (the “Operation Performance Security”). Until such time the Operation Performance Security is provided by the Concessionaire pursuant hereto and the same comes into effect, the Construction Performance Security shall remain in force and effect, and upon such provision of the Operation Performance Security pursuant hereto, the Authority shall release the Construction Performance Security to the Concessionaire.

Operation Performance Security. The Concessionaire shall, for the performance of its obligations hereunder during the Operation Period, provide to the Authority no later than 30 (thirty) days from the date of issue of Completion Certificate by Independent Monitor[s], an irrevocable and unconditional guarantee from a Bank for a sum equivalent to [Rs. [●•] (Rupees [●])]15 •])]15 in the form set forth in Schedule-F (the “Operation Performance Security”). Until such time the Operation Performance Security is provided by the Concessionaire pursuant hereto and the same comes into effect, the Construction Performance Security shall remain in force and effect, and upon such provision of the Operation Performance Security pursuant hereto, the Authority shall release the Construction Performance Security to the Concessionaire.

Operation Performance Security. The Concessionaire shall, for the performance of its obligations hereunder during the Operation Period, provide to the Authority no later than 30 (thirty) days from the date of issue of Completion Certificate by Independent Monitor[s], an irrevocable and unconditional guarantee from a Bank for a sum equivalent to [Rs. [●] (Rupees [●])]15 ])]15 in the form set forth in Schedule-F (the “Operation Performance Security”). Until such time the Operation Performance Security is provided by the Concessionaire pursuant hereto and the same comes into effect, the Construction Performance Security shall remain in force and effect, and upon such provision of the Operation Performance Security pursuant hereto, the Authority shall release the Construction Performance Security to the Concessionaire.

Operation Performance Security. The Concessionaire shall, for the performance of its obligations hereunder during the Operation Period, provide to the Authority no later than 30 (thirty) [] days from the date of issue of Completion Certificate by Independent Monitor[s], an irrevocable and unconditional guarantee from a Bank for a sum equivalent to [Rs. [●] (Rupees [●])]15 ])]16 in the form set forth in Schedule-F (the “Operation Performance Security”). Until such time the Operation Performance Security is provided by the Concessionaire pursuant hereto and the same comes into effect, the Construction Performance Security shall remain in force and effect, and upon such provision of the Operation Performance Security pursuant hereto, the Authority shall release the Construction Performance Security to the Concessionaire.

Operation Performance Security. The Concessionaire shall, for the performance of its obligations hereunder during the Operation Period, provide to the Authority no later than 30 (thirty) [•] days from the date of issue of Completion Certificate by Independent Monitor[s], an irrevocable and unconditional guarantee from a Bank for a sum equivalent to [Rs. [●•] (Rupees [●])]15 •])]16 in the form set forth in Schedule-F (the “Operation Performance Security”). Until such time the Operation Performance Security is provided by the Concessionaire pursuant hereto and the same comes into effect, the Construction Performance Security shall remain in force and effect, and upon such provision of the Operation Performance Security pursuant hereto, the Authority shall release the Construction Performance Security to the Concessionaire.

Operation Performance Security. The Concessionaire shall, for the performance of its obligations hereunder during the Operation Period, provide to the Authority no later than 30 (thirty) days from the date of issue of Completion Certificate by Independent Monitor[s]Engineer, an irrevocable and unconditional guarantee from a Bank for a sum equivalent to [Rs. [●] (Rupees [●])]15 1 in the form set forth in Schedule-F (the “Operation Performance Security”). Until such time the Operation Performance Security is provided by the Concessionaire pursuant hereto and the same comes into effect, the Construction Performance Security shall remain in force and effect, and upon such provision of the Operation Performance Security pursuant hereto, the Authority shall release the Construction Performance Security to the Concessionaire.