PERFORMANCE SECURITY AND SECURITY DEPOSIT Sample Clauses

PERFORMANCE SECURITY AND SECURITY DEPOSIT. 47 9.1 Performance Security 47 9.2 Security Deposit 47 9.3 Appropriation of Performance Security and/or Security Deposit 47 9.4 Release of Performance Security 48 9.5 Release of Security Deposit 48
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PERFORMANCE SECURITY AND SECURITY DEPOSIT. 4.4.1. For All Bidders including MSE Registered Firms
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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).
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PERFORMANCE SECURITY AND SECURITY DEPOSIT. 37 13.1. Performance Security and Security Deposit 37 13.2. Appropriation of Security Deposit 38 13.3. Release of Performance Security and Security Deposit 38 ARTICLE 14 MAINTENANCE OF ADVERTISEMENT SPACES 39 14.1. Maintenance of Advertisement Spaces 39 ARTICLE 15 OPERATION AND MAINTENANCE 41 15.1. Operation and Maintenance 41 15.2. Reports of unusual occurrence 42 ARTICLE 16 FORCE MAJEURE 43 16.1. Force Majeure 43 ARTICLE 17 BREACHES, EVENTS OF DEFAULT, SURRENDER AND TERMINATION OF LICENSE AGREEMENT 44 17.1. Licensee Events of Default 44 17.2. Consequences of Material Breach and Licensee’s event of Default 44 17.3. Handing over on Termination / Completion / Surrender 45 17.4. Termination on the account of Operational Ground of Maha-Metro 45 ARTICLE 18 DISPUTE RESOLUTION/ARBITRATION 46 18.1. Dispute Resolution 46 18.2. Arbitration 48 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 LICENSE AGREEMENT THIS AGREEMENT is entered into on this the ……….. day of ………, 20…..
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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. 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 metro station). 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. 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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Related to PERFORMANCE SECURITY AND SECURITY DEPOSIT

  • Security Deposits The Owner hereby grants the Agent power to collect security deposits from the tenants on the Property. Returning said security deposit shall be the responsibility of the: (check one) ☐ - Agent for returning to vacating tenants. ☐ - Owner for returning to vacating tenants.

  • SECURITY DEPOSIT As part of this Agreement: (check one) ☐ - The Landlord requires a payment in the amount of $ (“Security Deposit”) for the faithful performance of the Tenant under the terms and conditions of this Agreement. Payment of the Security Deposit is required by the Tenant upon the execution of this Agreement. The Security Deposit shall be returned to the Tenant within days after the end of the Lease Term less any itemized deductions. This Security Deposit shall not be credited towards any Rent unless the Landlord gives their written consent. ☐ - The Landlord does not require a Security Deposit as part of this Agreement.

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