Common use of Performance and Warranty Guarantee Clause in Contracts

Performance and Warranty Guarantee. 19.1 To secure the punctual, complete and entire performance of all of Supplier's obligations under this Agreement, Supplier will furnish the Performance and Warranty Guarantee, Down Payment Guarantee and the Payment Guarantee (collectively, the "Guarantees"), all as specified in this Section 19 below. All of the Guarantees shall be issued by a first class bank approved in advance by ISR. 19.2 Performance and Warranty Guarantee, no later than seven (7) Business Days following the date of the Purchase Order, Supplier shall furnish ISR with an irrevocable autonomous Performance and Warranty Guarantee, approved in advance by ISR and issued in the form attached hereto as Annex D in the amount equal to ten percent (10%) of the RRV Price, valid until two (2) months following the end of the Warranty Period and/or the Optional Warranty Period. Until Supplier shall have issued the Performance and Warranty Guarantee as per the above, the Bid Guarantee shall serve as the Performance and Warranty Guarantee for any and all purposes. If ISR elects to exercise its rights set forth in 19.1, Supplier shall ensure that the Performance and Warranty Guarantee remains valid until two months following the end of the Warranty Period. In the event, that Supplier shall supply both PRRV and TRRV { in accordance with the outcome of the Tender], then the Performance and Warranty Guarantee shall reflect both the PRRV and TRRV Price.

Performance and Warranty Guarantee. 19.1 To secure the punctual, complete and entire performance of all of Supplier's obligations under this Agreement, Supplier will furnish the Performance and Warranty Guarantee, Down Payment Guarantee and the Payment Guarantee (collectively, the "Guarantees"), all as specified in this Section 19 below. All of the Guarantees shall be issued by a first class bank approved in advance by ISR. 19.2 Performance and Warranty Guarantee, shall also secure the Down Payment specified in Section 11 above and shall be furnished to ISR, no later than seven (7) Business Days following the date of the Purchase Order, Supplier shall furnish ISR with an irrevocable autonomous the Performance and Warranty GuaranteeGuarantee shall be irrevocable autonomous, approved in advance by ISR and issued in the form attached hereto as Annex D in the amount equal to ten fifteen percent (101015%) of the RRV System Price, valid until two (2) months following the end of the Warranty Period and/or the Optional Warranty Period. Until Supplier shall have issued the Performance and Warranty Guarantee as per the above, ISR will retain the Bid Guarantee shall serve and may consider the Bid Guarantee as the Performance and Warranty Guarantee (or part thereof) for any and all purposes. If ISR elects to exercise its rights set forth in 19.1, Supplier shall ensure that the Performance and Warranty Guarantee remains valid until two months following the end of the Warranty Period. In For avoidance of doubt it is specified that the event, that Supplier shall supply both PRRV and TRRV { in accordance with the outcome provision of the Tender], then the Performance and Warranty Guarantee shall reflect both to ISR constitute a condition to the PRRV and TRRV Pricepayment of any invoice or other payment which may be due to the Supplier.