Common use of Proposal Security Clause in Contracts

Proposal Security. (a) The Proposal Security has been delivered to BPDB and is required to be maintained in effect until submission of Performance Security Deposit (PSD). If at any time prior to the submission of PSD, the Proposal Security will expire within thirty (30) Days and the Company does not extend the period of effectiveness of the Proposal Security for a period of not less than 4 (four) Months, BPDB shall be entitled immediately to encash the Proposal Security in full.

Proposal Security. (a) The Proposal Security has been delivered to BPDB and is required to be maintained in effect until the submission of Performance Security Deposit (PSD). If at any time prior to the submission of PSD, PSD the Proposal Security will expire within thirty (30) Days and the Company does not extend the period of effectiveness of the Proposal Security for a period of not less than 4 three (four3) Months, BPDB shall be entitled immediately to encash the Proposal Security in full.