Performance Security and Security Deposit Sample Clauses

Performance Security and Security Deposit. 13.1.1. The Licensee shall, for the performance of its obligations hereunder during the Lock-in Period, has provided to the Maha-Metro, the Performance Security (the “Performance Security”) amounting to Rs. (Rs.25,00,000/- or Amount equivalent to 1st Year of Annual License Fees as quoted by Bidder, whichever is higher for each xxxxx xxxxxxx). 13.1.2. The Performance Security shall be submitted in the form of Bank Guarantee valid for a period of 27 months from the date of license agreement, issued from any Scheduled Commercial Bank having branch in India. The Performance Security shall be payable at Nagpur. 13.1.3. The Security Deposit shall be (Rs.25,00,000/- or Amount equivalent to 1st Year of annual license fees, whichever is higher). The Security Deposit shall be retained for the period equivalent to “entire tenure of co-branding rights plus six months”. 13.1.4. The Security Deposit shall be submitted as minimum 25% of Annual License Fees in the form of Cash/Account payee demand draft/NEFT/RTGS and 75% in the form of Bank Guarantee. The Security Deposit shall be refunded after the end of “entire tenure of co-branding rights plus six months”. 13.1.5. The Interest Free Security Deposit shall be escalated by 5% on compounding basis after completion of every year. The escalated amount shall be paid in the form of deposit by way of demand draft/NEFT/RTGS in favour of Maharashtra Metro Rail Corporation Ltd.
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Performance Security and Security Deposit. 4.4.1 For All Bidders including MSE Registered Firms 4.4.1.1 The Contractor shall be required to deposit an amount equal to 3% of the contract value of the work as Performance Security in the form of an irrevocable bank guarantee bond of any Nationalized / Scheduled bank of India in accordance with the format prescribed within 15 days of the issuance of the LoA. 4.4.1.2 Without limitation to the provisions of the preceding paragraph, whenever the EIC determines an addition to the Contract Price as a result of a change in cost and/or legislation or as a result of a variation amounting to more than 20% of the portion of the Contract Price, the Contractor, at the EIC’s written request, shall promptly increase the value of the Performance Bank Guarantee proportionately. The Contractor will also be required to furnish additional Performance Bank Guarantee, if any, arising out of provisions of clause 16.
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Performance Security and Security Deposit. 37 ARTICLE 14 MAINTENANCE OF ADVERTISEMENT SPACES 39 ARTICLE 15 OPERATION AND MAINTENANCE 41 ARTICLE 16 FORCE MAJEURE 43 ARTICLE 17 BREACHES, EVENTS OF DEFAULT, SURRENDER AND TERMINATION OF LICENSE AGREEMENT 44 ARTICLE 18 DISPUTE RESOLUTION/ARBITRATION 46 ARTICLE 19 MISCELLANEOUS 52 ANNEXURES 57 ANNEXURE – 1 : LIST OF STATIONS FOR WHICH CO-BRANDING RIGHTS IS ALLOTTED 58 ANNEXURE – 2 : FORMAT FOR CO-BRANDING AT STATIONS IN NAGPUR METRO RAIL PROJECT (SUFFIX ONLY) 59 ANNEXURE - 3 : RULES AND GUIDELINES FOR RELEASE OF ELECTRIC POWER 60
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Performance Security and Security Deposit. 4.4.1. For All Bidders including MSE Registered Firms 4.4.1.1. The Contractor shall be required to deposit an amount equal to 5% (five percent) of the contract value of the work as Performance Security in the form of an irrevocable bank guarantee bond of any Nationalized / Scheduled bank of India in accordance with the format prescribed within 15 days of the issuance of the LoA. “The Bank Guarantee issued in paper form shall become operative only when the Bank Guarantee advice transmitted through SFMS is advised to the Beneficiary by the Advising Bank. 4.4.1.2. Without limitation to the provisions of the preceding paragraph, whenever the EIC determines an addition to the Contract Price as a result of a change in cost and/or legislation or as a result of a variation amounting to more than 20% of the portion of the Contract Price, the Contractor, at the EIC’s written request, shall promptly increase the
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Performance Security and Security Deposit. Performance Security The Concessionaire has, for the performance of its obligations hereunder during the Construction Period, provided to Maha-Metro before the Agreement Date, an irrevocable and unconditional Bank guarantee from any Scheduled Bank for a sum equivalent to Rs. 10,75,00,000/- (Rs. Ten Crores Seventy Five Lakhs only) in the form set forth in Schedule-D (the “Performance Security”) initially valid for a minimum period 54 (Fifty-Four) months from the date of submission to Maha-Metro. The Performance Security shall be extended in the event if the scheduled construction date is extended beyond 04 years from date of signing of Concession Agreement.
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Performance Security and Security Deposit. 49 9.1 Performance Security 49 9.2 Security Deposit 49 9.3 Appropriation of Performance Security and/or Security Deposit 49 9.4 Release of Performance Security 50 9.5 Release of Security Deposit 50
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Performance Security and Security Deposit 
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Related to Performance Security and Security Deposit

  • 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 Tenaxx xxxees to deposit with Landlord the Security Deposit set forth at Section 2.0 upon execution of this Lease, as security for Tenaxx'x xaithful performance of its obligations under this Lease. Landlord and Tenant agree that the Security Deposit may be commingled with funds of Landlord and Landlord shall have no obligation or liability for payment of interest on such deposit. Tenant shall not mortgage, assign, transfer or encumber the Security Deposit without the prior written consent of Landlord and any attempt by Tenant to do so shall be void, without force or effect and shall not be binding upon Landlord. If Tenant fails to pay any Rent or other amount when due and payable under this Lease, or fails to perform any of the terms hereof, Landlord may appropriate and apply or use all or any portion of the Security Deposit for Rent payments or any other amount then due and unpaid, for payment of any amount for which Landlord has become obligated as a result of Tenant's default or breach, and for any loss or damage sustained by Landlord as a result of Tenant's default or breach, and Landlord may so apply or use this deposit without prejudice to any other remedy Landlord may have by reason of Tenant's default or breach. If Landlord so uses any of the Security Deposit, Tenant shall, within ten (10) days after written demand therefor, restore the Security Deposit to the full amount originally deposited; Tenant's failure to do so shall constitute an act of default hereunder and Landlord shall have the right to exercise any remedy provided for at Article 27 hereof. Within fifteen (15) days after the Term (or any extension thereof) has expired or Tenant has vacated the Premises, whichever shall last occur, and provided Tenant is not then in default on any of its obligations hereunder, Landlord shall return the Security Deposit to Tenant, or, if Tenant has assigned its interest under this Lease, to the last assignee of Tenant. If Landlord sells its interest in the Premises, Landlord may deliver this deposit to the purchaser of Landlord's interest and thereupon be relieved of any further liability or obligation with respect to the Security Deposit.

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