Provision of a Bank Guarantee Sample Clauses

Provision of a Bank Guarantee. (a) On the date of this Agreement and in any event prior to the issue of any Construction Certificate, the Developer must deliver to the Council a bank guarantee (“Bank Guarantee”), which must be: (i) in a form and from an institution approved by the Council; (ii) irrevocable and unconditional; (iii) with no expiry date; (iv) issued in favour of the Council; (v) for an amount prescribed by Council; (vi) drafted to cover all of the Developer’s obligations under this Agreement; and (vii) on the terms otherwise satisfactory to the Council. (b) The Developer acknowledges that the Council enters into this Agreement on the proviso of the Developer providing the Bank Guarantee as a security for the performance of all of the Developer’s obligations under this Agreement, including without limitation the delivery of the Development Contribution to the Council in accordance with this Agreement.
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Provision of a Bank Guarantee. (a) Upon entering into this Agreement, the Developer must deliver to the Council a Bank Guarantee, which must be: (i) in a form and from an institution approved by the Council; (ii) irrevocable and unconditional; (iii) with no expiry date; (iv) issued in favour of the Council; (v) for an amount prescribed by Council; (vi) drafted to cover all of the Developer’s obligations under this Agreement; and (vii) on the terms otherwise satisfactory to the Council. (b) The Developer acknowledges that the Council enters into this Agreement on the proviso of the Developer providing the Bank Guarantee as a security for the performance of all of the Developer’s obligations under this Agreement, including without limitation the delivery of the Development Contribution to the Council in accordance with this Agreement.
Sample 1Sample 2
Provision of a Bank Guarantee. (a) On the date of this Agreement and in any event prior to the issue of any Construction Certificate, the Developer must deliver to the Council the Bank Guarantee drafted to cover all of the Developer’s obligations under this Agreement. (b) The Developer acknowledges that the Council enters into this Agreement on the proviso of the Developer providing the Bank Guarantee as a security for the performance of all of the Developer’s obligations under this Agreement, including without limitation the delivery of the Development Contribution to the Council in accordance with this Agreement.
Sample 1

Related to Provision of a Bank Guarantee

  • Bank Guarantee In addition to the Common Articles, it is specified that: In order to guaranty the proper execution of its contractual obligations pursuant to the Contract and/or Order(s), the Supplier shall issue in favor of the Purchaser a first demand and irrevocable performance bond from a first class bank or other financial institutes agreed by the Purchaser, to guaranty good performance by the Supplier of its obligations under the Contract. The Supplier shall issue the bond within thirty (30) days after issuance of the SPC or of the Order. Each performance bond shall amountto fifteen per cent (15%) of the total value of the concerned SPC and / or Order. Each performance bond shall expire when the relevant services have been fully performed in compliance with the Contract.

  • Performance Bank Guarantee 4.2.1 The Performance Bank Guarantee furnished by Power Producer to GUVNL shall be for guaranteeing the commissioining / commercial operation of the project up to the Contracted Capacity within SCOD. 4.2.2 If the Power Producer fails to commission the project on or before Scheduled Commercial Operation Date, GUVNL shall have the right to encash the Performance Bank Guarantee without prejudice to the other rights of the Power Producer under this Agreement as per Article 3.3. 4.2.3 GUVNL shall release the Performance Bank Guarantee upon successful commissioning of full contracted capacity after adjusting Liquidated Damages (if any) as per Article 3.3.

  • Money Back Guarantee If we provide a money back guarantee ("MBG") for your Service, it will begin on your Service Ready Date. During this MBG period you may cancel your Service and receive a full refund of all monthly, one-time and equipment charges paid to Verizon (provided you return all Equipment in good working condition). If you fail to return the Equipment, an unreturned Equipment fee will apply. ETFs will not apply to Service terminated within the MBG period. The MBG does not apply to customers who change between or renew bundle, monthly, term or other pricing plans. The MBG is limited to one per Subscriber per Service type per Service address.

  • Modification of Agreement This Agreement may be modified, amended, suspended or terminated, and any terms or conditions may be waived, but only by a written instrument executed by the parties hereto.

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