Quality Guarantee Deposit Sample Clauses

Quality Guarantee Deposit. Within 14 days after the delivery and acceptance certificate is issued, Poly Changda Engineering shall pay a quality guarantee deposit to Suiyuenan Expressway Company. The quality guarantee deposit shall be limited to 3% of the project delivery and settlement amount. The quality guarantee deposit paid shall bear no interest. In addition, if the performance bond (as set out below) has been paid by Xxxx Xxxxxxx Engineering before completion of the overhaul work, the quality guarantee deposit will not be retained at the same time. The quality guarantee deposit shall not be deducted from any interim payment for the overhaul work. After the overhaul work is delivered and accepted and the performance bond is refunded, 3% of the project delivery and settlement amount shall be deducted on a one-off basis as the quality guarantee deposit. Upon the expiry of the defect responsibility period as set out below and at the request of Poly Changda Engineering to refund the quality guarantee deposit, Suiyuenan Expressway Company shall, within 14 days, verify whether Poly Changda Engineering has fulfilled its obligations during the defect responsibility period. If Poly Changda Engineering has fulfilled its obligations during the defect responsibility period, Suiyuenan Expressway Company shall refund the quality guarantee deposit to Poly Changda Engineering. Otherwise, Suiyuenan Expressway Company is entitled not to return the quality guarantee deposit. During the defect responsibility period, which will be the one-year period from the date of the examination and acceptance of the overhaul work pursuant to the Proposed Overhaul Agreement, Poly Changda Engineering shall generally be responsible towards the delivered work during the defect responsibility period. If the defects are found to be attributable to (i) non-compliance of the materials, equipment or operating techniques used by Poly Changda Engineering with the requirements under the Proposed Overhaul Agreement; or (ii) the negligence of Poly Changda Engineering or failure of Poly Changda Engineering to fulfil its contractual obligations under the Proposed Overhaul Agreement, the expenses of examining and fixing the defects shall be borne by Poly Changda Engineering. If Xxxx Xxxxxxx Engineering fails to fix the defect within the defect responsibility period, Suiyuenan Expressway Company is entitled to arrange for fixing the defect by itself or its designated entity, provided that the expenses incurred from such an arra...
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Quality Guarantee Deposit. Within 14 days after the passing of the construction delivery inspection and issuance of delivery inspection certificate, CR 25th Bureau shall pay a quality guarantee deposit to GNSR Company. The quality guarantee deposit may be made in the form of bank guarantee or by cash and shall represent 3% of the total contract amount. The quality guarantee deposit paid shall bear no interest. Provided that CR 25th Bureau has fulfilled its obligations during the defect responsibility period as set out below and the quality inspection has been passed after 2 years of trial operation of the reconstructed and expanded GNSR Expressway:
Sample 1
Quality Guarantee Deposit. Upon the completion of the construction, CRTG may provide the completion payment request to the supervisor, who shall then review the request within 14 days and pass such request to GNSR Company. GNSR Company shall complete the review within 14 days after receipt of the request from the supervisor and settle such amount within 14 days after the supervisor issues the completion payment certificate. Within 14 days after the delivery inspection certificate is issued, CRTG shall pay a quality guarantee deposit to GNSR Company. The quality guarantee deposit may be made in the form of bank guarantee or by cash and shall represent 3% of the total contract amount. The quality guarantee deposit paid shall bear no interest. Provided that CRTG has fulfilled its obligation during the defect responsibility period as set out below and the quality tests have been satisfied after 2 years of trial operation of the reconstructed and expanded GNSR Expressway:
Sample 1
Quality Guarantee Deposit. 17.4.1 The quality guarantee deposit for the project is 10% of the total contract settlement amount.
Sample 1
Quality Guarantee Deposit. The Quality Guarantee Deposit deducted through negotiation between the Contracting Parties shall be defined in the Special Terms and Conditions of the Contract. Warranty
Sample 1
Quality Guarantee Deposit. Within 14 days after the passing of the construction delivery inspection and issuance of the delivery inspection certificate, CCCC Second Harbour shall pay a quality guarantee deposit to GNSR Company. The quality guarantee deposit may be made in the form of bank guarantee or by cash and shall represent 3% of the total contract amount. The quality guarantee deposit paid shall bear no interest. Provided that CCCC Second Harbour has fulfilled its obligations during the defect responsibility period as set out below and the quality inspection has been passed after 2 years of trial operation of the reconstructed and expanded GNSR Expressway:
Sample 1
Quality Guarantee Deposit. Within 14 days after the passing of the construction delivery inspection and issuance of the delivery inspection certificate, GHEG shall pay a quality guarantee deposit to GNSR Company. The quality guarantee deposit may be made in the form of bank guarantee or by cash and shall represent 3% of the total contract amount. The quality guarantee deposit paid shall bear no interest. Provided that GHEG has fulfilled its obligations during the defect responsibility period as set out below and the quality inspection has been passed after 2 years of trial operation of the reconstructed and expanded GNSR Expressway:
Sample 1
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Related to Quality Guarantee Deposit

  • No Quantity Guarantees The System Agency makes no guarantee of volume or usage of work under this Grant Agreement. All work requested may be on an irregular and as needed basis throughout the Grant Agreement term.

  • Daily Guarantee (a) Subject to the provisions of Subsection (c), an employee reporting for a scheduled shift on the call of the Corporation, shall receive the employee's regular hourly rate of pay for the entire period spent at the place of work, with a minimum of two (2) hours' pay at the regular hourly rate. (b) Subject to the provisions of Subsection (c), an employee other than a school student on a school day who commences work on a scheduled shift, shall receive the employee's regular hourly rate of pay for the entire period spent at the place of work, with a minimum of four (4) hours' pay at the regular hourly rate. (c) In any case where an employee: (i) reports for a regular shift but refuses to commence work, or (ii) commences work but refuses to continue working, the employee shall not be entitled to receive the minimum payments set forth in Subsections (a) and (b).

  • Definition of Guaranteed Obligations As used herein, the term “Guaranteed Obligations” means:

  • Nature of Guarantee The Guaranteed Party shall not be obligated to file any claim relating to the Obligations in the event that Parent or Merger Sub becomes subject to a bankruptcy, reorganization or similar proceeding, and the failure of the Guaranteed Party to so file shall not affect the Guarantor’s obligations hereunder. Subject to the terms hereof, the Guarantor’s liability hereunder is absolute, unconditional, irrevocable and continuing irrespective of any modification, amendment or waiver of or any consent to departure from the Merger Agreement that may be agreed to by Parent or Merger Sub (except where this Limited Guarantee is terminated in accordance with Section 8). In the event that any payment to the Guaranteed Party in respect of the Obligations is rescinded or must otherwise be returned for any reason whatsoever, the Guarantor shall remain liable hereunder with respect to its Guaranteed Percentage of the Obligations (subject to the Cap) as if such payment had not been made by the Guarantor. This Limited Guarantee is an unconditional guarantee of payment and not of collection. This Limited Guarantee is a primary obligation of the Guarantor and is not merely the creation of a surety relationship, and the Guaranteed Party shall not be required to proceed against Parent or Merger Sub first before proceeding against the Guarantor hereunder.

  • Prior Payment of Guaranteed Obligations In any proceeding under any Bankruptcy Law relating to any other Loan Party, each Guarantor agrees that the Secured Parties shall be entitled to receive payment in full in cash of all Guaranteed Obligations (including all interest and expenses accruing after the commencement of a proceeding under any Bankruptcy Law, whether or not constituting an allowed claim in such proceeding (“Post Petition Interest”)) before such Guarantor receives payment of any Subordinated Obligations.

  • Performance Guarantee 9.4.1 The Concessionaire shall, for the performance of its obligations hereunder during the Concession Period, provide to the Authority no later than [90] days prior to expiry of the Performance Security, an irrevocable and unconditional guarantee from a Bank for a sum equivalent to Rs. ***** crore (Rupees ***** crore)7 in the form set forth in Schedule-FF (the “Performance Guarantee”). Until such time the Performance Guarantee is provided by the Concessionaire pursuant hereto and the same comes into effect, notwithstanding anything contained in clause 9.3 the Performance Security shall remain in force and effect, and upon such provision of the Performance Guarantee pursuant hereto, the Authority shall release the Performance Security to the Concessionaire. 9.4.2 Notwithstanding anything to the contrary contained in this Agreement, in the event Performance Guarantee is not provided by the Concessionaire within a period of [90] days prior to expiry of the Performance Security, the Authority may invoke and encash the Performance Security and appropriate the proceeds thereof as Damages, and thereupon all rights, privileges, claims and entitlements of the Concessionaire under or arising out of this Agreement shall be deemed to have been waived by, and to have ceased with the concurrence of the Concessionaire, and this Agreement shall be deemed to have been terminated by mutual agreement of the Parties.

  • No Discharge or Diminishment of Guarantee The obligations of each Guarantor hereunder shall not be subject to any reduction, limitation, impairment or termination for any reason (other than the indefeasible payment in full in cash of the Obligations), including any claim of waiver, release, surrender, alteration or compromise of any of the Obligations, and shall not be subject to any defense or setoff, counterclaim, recoupment or termination whatsoever by reason of the invalidity, illegality or unenforceability of the Obligations or otherwise. Without limiting the generality of the foregoing, the obligations of each Guarantor hereunder shall not be discharged or impaired or otherwise affected by the failure of the Administrative Agent or any Lender to assert any claim or demand or to enforce any remedy under the Credit Agreement, any other Loan Document or any other agreement, by any waiver or modification of any provision of any thereof, by any default, failure or delay, willful or otherwise, in the performance of the Obligations, or by any other act or omission that may or might in any manner or to the extent vary the risk of any Guarantor or that would otherwise operate as a discharge of each Guarantor as a matter of law or equity (other than the indefeasible payment in full in cash of all the Obligations).

  • Subordination of Guarantee The guarantee and other liabilities and obligations of the Depositor under this Agreement shall constitute unsecured obligations of the Depositor and shall rank subordinate and junior in right of payment to all Senior Indebtedness (as defined in the Indenture) of the Depositor to the extent and in the manner set forth in the Indenture with respect to the Debentures, and the provisions of Article XIII of the Indenture will apply, mutatis mutandis, to the obligations of the Depositor hereunder. The obligations of the Depositor hereunder do not constitute Senior Indebtedness (as defined in the Indenture) of the Depositor.

  • Scope of Guarantee 1. The financial claims under this contract ("the secured claims") refers to all debts provided by the creditor to the debtor, including but not limited to the principal debt, interest (including default interest, compound interest), breach of contract , damages , expenses of claims. 2. On the due date, if the applicant refused to repay the loan, which lead to the debt rights also in the range of the guarantee. 3. The principal , interest and other costs, the time of performance, usage, rights and obligations of the parties as well as any other relevant matters under the contract shall prevail by relevant agreements, contracts, application, notice , various certificates and other records, all kinds of certificates and other relevant legal documents issued or signed without guarantor’s confirmation. 4. In order to avoid ambiguity, all fees of prepare, improve, perform or enforce the contract (including, but not limited to attorney’s fees, litigation or arbitration costs etc.) constitute a part of the secured debt.

  • Obligations Guaranteed Subject to the provisions of this Article 2, the Guarantor hereby unconditionally guarantees (a) to each Holder of a Security authenticated and delivered by the Trustee or Authenticating Agent, (i) the full and prompt payment of the principal of, and premium, if any, and interest on, and any Redemption Price with respect to, such Security, when, where and as the same shall become due and payable, whether at the stated maturity thereof, by acceleration, call for redemption or otherwise in accordance with the terms of such Security and the Indenture and (ii) the full and prompt payment of interest on the overdue principal and interest, if any, on such Security, at the rate specified in such Security and to the extent lawful and (b) to the Trustee the full and prompt payment upon written demand therefor of all amounts due to it in accordance with the terms of the Indenture (collectively the “Guaranteed Obligation”). If for any reason the Company shall fail punctually to pay any such Guaranteed Obligation, the Guarantor hereby agrees to cause any such Guaranteed Obligation to be made punctually when, where and as the same shall become due and payable, whether at the stated maturity thereof, by acceleration, call for redemption or otherwise. All payments by the Guarantor hereunder shall be paid in lawful money of the United States of America. This Guarantee is unsecured and ranks equally in right of payment with all of the Guarantor’s existing and future senior indebtedness.

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