Common use of Release of Construction Performance Security Clause in Contracts

Release of Construction Performance Security. The Construction Performance Security shall remain in force and effect for a period of 6 (six) months from the COD of Phase- II (“Construction Performance Security Period”). The Authority shall release the Construction Performance Security after a period of 30 (thirty) days from the date of expiry of the Construction Performance Security Period subject to creation of a valid Deemed Performance Security in accordance with Clause 9.2 prior to the expiry of such 30 (thirty) days period.

Release of Construction Performance Security. The Construction Performance Security shall remain in force and effect for a period of 6 (six) months from (a) the COD of Phase- II, or (b) COD of Phase-II of the Other Project, whichever is later (“Construction Performance Security Period”). The Authority shall release the Construction Performance Security after a period of 30 (thirty) days from the date of the expiry of the Construction Performance Security Period subject to creation of a valid Deemed Performance Security provided that the Concessionaire has submitted (in accordance with Clause 9.2 prior to the expiry of this Agreement) a valid Operation Performance Security at such 30 (thirty) days periodtime.

Release of Construction Performance Security. The Construction Performance Security shall remain in force and effect for a period of 6 (six) months from the COD of Phase- II (“Construction Performance Security Period”). The Authority shall release the Construction Performance Security after a period of 30 (thirty) days from the date of expiry of the Construction Performance Security Period subject to creation of if the Concessionaire has submitted (in accordance with this Agreement) a valid Deemed Operation Performance Security in accordance with Clause 9.2 prior to the expiry of such 30 (thirty) days period.

Release of Construction Performance Security. The Construction Performance Security shall remain in force and effect for a period of 6 (six) months from the COD of Phase- II (“Construction Performance Security Period”). The Upon the submission of the Operation Performance Security in accordance with the provisions of Clause 9.2, the Authority shall release the Construction Performance Security after a period of 30 (thirty) days from the date of expiry of on which the Construction Performance Security Period subject to creation of a valid Deemed Performance Security Concessionaire has submitted (in accordance with Clause 9.2 prior to the expiry of such 30 (thirtythis Agreement) days perioda valid Operation Performance Security.

Release of Construction Performance Security. The Construction Performance Security shall remain in force and effect for a period of 6 (six) months from (a) the COD of Phase- II, or (b) COD of Phase-II of the Other Project, whichever is later (“Construction Performance Security Period”). The Authority shall release the Construction Performance Security after a period of 30 (thirty) days from the date of the expiry of the Construction Performance Security Period subject to creation of if the Concessionaire has submitted (in accordance with this Agreement) a valid Deemed Operation Performance Security in accordance with Clause 9.2 prior to the expiry of such 30 (thirty) days period.

Release of Construction Performance Security. The Construction Performance Security shall remain in force and effect for a period of 6 (six) months from the COD of Phase- II (“Construction Performance Security Period”). The Upon the submission of the Operation Performance Security in accordance with the provisions of Clause 9.2, theThe Authority shall release the Construction Performance Security after a period of 30 (thirty) days from the date of on whichof expiry of the Construction Performance Security Period subject to creation of if the Concessionaire has submitted (in accordance with this Agreement) a valid Deemed Operation Performance Security in accordance with Clause 9.2 prior to the expiry of such 30 (thirty) days period.