Performance Guarantee Deposit Clause Samples

Performance Guarantee Deposit. Concurrently with the Licensee’s execution of this License, Licensee shall deposit with the City the sum of $1,000 as a deposit for the performance of its obligations pursuant to this License ("Performance Guarantee Deposit"). If Licensee defaults on any of its obligations under this License, the City may, without prejudice to any other remedy it has, apply all or part of the Performance Guarantee Deposit to: (a) any amount that the City may spend to repair damage caused by Licensee or any of its employees or agents; or (b) any expense, loss, or damage that the City may suffer because of Licensee’s default. If the City applies all or part of the Performance Guarantee Deposit, and if the City does not elect to terminate this License, the Licensee shall provide the City with sufficient funds to restore the full amount of the Performance Guarantee Deposit within ten (10) days after demand by the City. The City shall not be required to keep the Performance Guarantee Deposit separate from its general accounts, nor shall the City be required to pay Licensee interest on it. If Licensee performs all of Licensee's obligations under this License, the Performance Guarantee Deposit, or as much of it as has not been applied previously by the City, shall be returned to Licensee at the expiration of the term of this License, after Licensee has vacated the License Area.

Performance Guarantee Deposit. (a) Not later than 3:00 p.m. Central Daylight Time on the next Business Day (defined below) following the execution of this Agreement by Buyer and Seller, Buyer shall deposit with ▇▇▇▇▇ Fargo Bank, National Association (the “Escrow Agent”), in an interest-bearing escrow account, pursuant to the terms of an Escrow Agreement substantially in the form attached hereto as Exhibit D (the “Escrow Agreement”) a performance guarantee deposit in the amount of $5,000,000.00 (together with all accrued interest thereon, the “Deposit”). Seller and Buyer shall each be responsible for one-half of all fees and expenses associated with the Escrow Agreement. (b) If all conditions precedent to the obligations of Buyer set forth in Article IX have been met and the transactions contemplated by this Agreement are not consummated on or before the Closing Date because of the failure of Buyer to perform any of its material obligations hereunder or the material breach of any representation herein by Buyer, then in such event and notwithstanding anything contained in this Agreement to the contrary, Seller shall have the right to terminate this Agreement and receive the Deposit as liquidated damages, in lieu of all other damages, which remedy shall be the sole and exclusive remedy available to Seller for Buyer’s failure to perform any of its material obligations hereunder or Buyer’s material breach of any representation herein. Buyer and Seller acknowledge and agree that (i) Seller’s actual damages upon such a termination would be difficult to ascertain with any certainty, (ii) that the Deposit is a reasonable estimate of such actual damages, and (iii) such liquidated damages do not constitute a penalty. (c) If all conditions precedent to the obligations of Seller set forth in Article VIII have been met and the transactions contemplated by this Agreement are not consummated on or before the Closing Date because of the failure of Seller to perform any of its material obligations hereunder or the material breach of any representation herein by Seller, then in such event, Buyer shall have the option, in its sole discretion, (i) to consummate the transactions contemplated by this Agreement through enforcement of specific performance, or (ii) Buyer may terminate this Agreement and have the Deposit returned to it as Buyer’s sole remedy. (d) If this Agreement is terminated by the mutual written agreement of Buyer and Seller, or if the Closing does not occur on or before the Closing Date, for...

Performance Guarantee Deposit. On the Effective Date, Seller shall post a Cash deposit in the amount of fifteen dollars ($15.00) for a Small Distributed Generation Project 2 or twenty-five dollars ($25.00) for a Large Distributed Generation Project multiplied by the Projected Annual Energy Output (measured in MWh) for the first Contract Year (“Performance Guarantee Deposit”); provided that in no event will the Performance Guarantee Deposit be less than five hundred dollars ($500) or more than seventy- five thousand dollars ($75,000). Buyer shall return a portion of the Performance Guarantee Deposit quarterly during the first Contract Year pro rata based on the actual Energy Delivered to Buyer during such quarter compared to the total Projected Annual Energy Output for the first Contract Year. Any Performance Guarantee Deposit remaining at the conclusion of the first Contract Year shall be forfeited to Buyer. Each Party agrees and acknowledges that (i) the damages that the Parties would incur due to a failure of the Facility to achieve the Projected Annual Energy Output in the first Contract Year would be difficult or impossible to predict with certainty, and (ii) it is impractical and difficult to assess actual damages in the circumstances stated, and therefore retention of all or a portion of the Performance Guarantee Deposit as agreed to by the Parties and set forth herein is a fair and reasonable calculation of such damages.

Performance Guarantee Deposit. (PGD) @Rs 10 lakh/MW shall be raised in two years by deducting from payments to SPDs in 24 equal instalments. It will stay with NTPC for 25 years. PGD shall be refunded to SPDs without interest within three (3) months after expiry of 25 year term of PPA subject to satisfactory performance of the project. In case the SPD winds up his project or terminates PPA prior to completion of 25 year term of PPA the PGD shall be forfeited.

Performance Guarantee Deposit. Is the Facility a Net Metered Facility: yes no If yes, attach completed Schedule B, Appendix A of R.I.P.U.C. Tariff No. 2075, The Narragansett Electric Company Net Metering Provision: Information Required for Application of Renewable Net Metering and Excess Renewable Net Metering Credits.

Performance Guarantee Deposit. Upon execution of this Agreement, Buyer shall deliver to Seller a performance guarantee deposit by wire transfer of immediately available funds equal to Eight Hundred Five Thousand Dollars ($805,000.00) (the "Deposit"). The Deposit shall be credited to the Purchase Price at Closing, or if this Agreement is terminated, shall be distributed or retained pursuant to Article 11.

Performance Guarantee Deposit. Upon execution of this Agreement, Buyer shall deliver to the Escrow Agent by wire transfer a deposit, in cash, in the amount of $3,000,000 (the "Deposit") pursuant to the terms of the Escrow Agreement attached as Exhibit B. The Deposit, together with accrued interest less any applicable bank fees, shall be distributed by the Escrow Agent to the Sellers and credited to the Purchase Price at Closing, or if this Agreement is terminated, shall be distributed pursuant to Article IX.

Performance Guarantee Deposit. 3.5.1 At declaration of Commissioning of the Project, the SPD shall pay to SECI, a Performance Guarantee Deposit (PGD) @Rs. 10 lakhs/MW to enable SECI to declare COD. It shall stay with SECI for 25 years. The PGD shall be refunded to the SPD without interest within three months after expiry of the term of this Agreement subject to satisfactory performance of the Project. 3.5.2 In case the SPD winds up his project or terminates the PPA in violation of this Agreement, prior to the completion of the term of this Agreement, the PGD shall be forfeited.

Performance Guarantee Deposit. Within [ ] days after this Agreement becomes effective, Party A shall transfer a performance guarantee deposit in the amount of [ ] to the account designated by Party B. Within [ ] days upon termination or expiration of this Agreement, Party B shall return such deposit, without any interest accrued, to Party A after deducting the outstanding amount payable by Party A under this Agreement.