Release of Performance Guarantee Sample Clauses

Release of Performance Guarantee. The Performance Guarantee shall remain in force and effect for the entire period of the Concession period and subject to provisions of Article 9.5, shall be released after 180 (one hundred and eighty) days of expiry of the Concession Period or Termination, whichever is earlier, in accordance with this Agreement.
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Release of Performance Guarantee. The Performance Guarantee shall remain in force and effect for an initial period of 10 years and renewed thereafter, 90 days prior to expiry of such Performance Guarantee. The Performance Guarantee shall be provided for the entire Concession Period of 60 years. In case Performance Guarantee is not renewed 90 days before expiry, the Authority shall have the right to encash the Performance Guarantee and to terminate this Agreement. Subject to provisions of Clause 9.4, the Performance Guarantee shall be released after 180 (one hundred and eighty) days (which shall be inclusive of defect liability period under the Clause 35.1) of expiry of the Concession Period of Commercial Complex or Termination, whichever is earlier, in accordance with this Agreement.
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Release of Performance Guarantee. A. When Released: The Developer’s Performance Guarantee described in Section VII, above, shall be released and returned to the Developer, without interest thereon, only at such time as the Town Manager determines, in his sole discretion, that all of the Improvements have been properly constructed or installed, all Code requirements met, the warranty period has been met, and the Improvements have been finally accepted by the Town. Partial release of the letter of credit may be made only in accordance with Code requirements. The Performance Guarantee may be reduced by the Town upon actual completion of Improvements and then only in the ratio that the Improvements completed bear to the total Improvements of the Development Plan. In no event shall a Performance Guarantee be reduced below twenty percent (20%) of the original principal amount until all Improvements have been completed, the warranty period has been met and the Improvements have been finally accepted by the Town.
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Release of Performance Guarantee. The Concessionaire shall keep the Performance Guarantee in full force and effect for a period of one year from expiry of validity period as stated clause 4.1 above (the “Performance Guarantee Claim Period”); provided, however, that the Performance Guarantee shall not be released if the Concessionaire is in breach of this Agreement. Upon request made by the Concessionaire for release of the Performance Guarantee along with the particulars which establish satisfaction of the requirements specified in this Article 4.3 and subject to the creation of Deemed Performance Guarantee in accordance with Article 4.4, the Authority shall release the Performance Guarantee forthwith.
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Release of Performance Guarantee. 7 Calculated as per Annexure – II of the RFQ Document from xxx.xxxxxx.xxx Downloaded The Performance Guarantee shall remain in force and effect for the entire period of the Concession period and subject to provisions of Article 9.5, shall be released after 180 (one hundred and eighty) days of expiry of the Concession Period or Termination, whichever is earlier, in accordance with this Agreement.
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Release of Performance Guarantee. Pursuant to Section 600.2.5 of the Township’s SALDO and the time periods specified therein, the Township will consider requests by the Developer for releases from the Performance Guarantee as the Required Improvements are completed and approved. Partial releases shall be determined as the work and improvements are completed and after an inspection by the Township Engineer and with the approval of the Township Board of Supervisors. In the event a partial release is approved by the Township, the Performance Guarantee shall be reduced by an equivalent amount to that released. The Township agrees to execute any documents which may be determined to be appropriate by the Township Solicitor in connection with any partial release under the provisions of this paragraph. Subject to the Maintenance Guarantee and following construction and installation of all of the Required Improvements to the satisfaction of Township pursuant to this Agreement, the Township Engineer shall submit written notification and certification of completion to the Township Board of Supervisors and to the Developer (and to any entity posting the Performance Guarantee) that the Performance Guarantee may be fully released and discharged and the Developer – principal and the surety released from their commitment and obligations to secure this Agreement.
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Release of Performance Guarantee. The Performance Guarantee amounting to Rs. 10,50,00,000/- (Rs. Ten Crores Fifty Lakhs only) shall remain in force and effect for a period of 66 months from the date of submission or the Construction Completion Date of the Project; whichever is later. The Performance Guarantee shall be released within 6 months of availing the Occupation Permit/ Completion Certificate from the concerned planning/ local authority, subject to Maha-Metro’s right to receive or recover amounts if any due from Concessionaire under this Agreement.
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Release of Performance Guarantee 
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Related to Release of Performance Guarantee

  • Release of Performance Security (i) The Authority shall return the Performance Security to the Contractor within 60 (sixty) days of the expiry of the Maintenance Period or the Defects Liability Period, whichever is later, under this Agreement. Notwithstanding the aforesaid, the Parties agree that the Authority shall not be obliged to release the Performance Security until all Defects identified during the Defects Liability Period have been rectified.

  • Time of Performance Time for performance of the Scope of Services under this Agreement shall begin with receipt of the Notice to Proceed and end no later than December 31, 2026. Consultant shall complete the tasks described in the Scope of Services, within this time or within such additional time as may be extended by the County.

  • Manner of Performance Subject to the provisions of Article XII hereof, the Contractor shall perform all of the Work described in the Statement of Work, or cause such Work to be performed in an efficient and expeditious manner and in accordance with all of the terms and provisions of this Agreement. The Contractor shall perform the Work in accordance with the current professional standards and with the diligence and skill expected for the performance of work of the type described in the Statement of Work. The Contractor shall furnish such personnel and shall procure such materials, machinery, supplies, tools, equipment and other items as may reasonably be necessary or appropriate to perform the Work in accordance with this Agreement.

  • Monitoring of Performance Vendor shall continuously monitor and record its performance to ensure that all of Vendor's responsibilities and obligations hereunder are being met and fulfilled. Citizens may conduct programmatic and other administrative contract monitoring during the term of this Agreement. The purpose of this monitoring is to ensure that all of Vendor's responsibilities and obligations are being met and fulfilled. Such monitoring may include on-site visits, report reviews, invoice reviews, compliance reviews, and a review of any other areas reasonably necessary. Vendor acknowledges and agrees that Citizens may also monitor and record Vendor Staff communications to the extent they occur within or are connected to any Citizens’ resource, such as electronic or telecommunications systems.

  • Schedule of Performance Consultant shall commence the services pursuant to this Agreement upon receipt of a written notice to proceed and shall perform all services within the time period(s) established in the “Schedule of Performance” attached hereto as Exhibit “D” and incorporated herein by this reference. When requested by the Consultant, extensions to the time period(s) specified in the Schedule of Performance may be approved in writing by the Contract Officer but not exceeding one hundred eighty (180) days cumulatively.

  • Term and Time of Performance The effective date of this Agreement shall begin on July 1, 2018 and will continue through June 30, 2023, subject to appropriation of funds, notwithstanding any other provision in this agreement.

  • Appropriation of Performance Security Upon occurrence of a Concessionaire Default, the Authority shall, without prejudice to its other rights and remedies hereunder or in law, be entitled to invoke, encash and appropriate the relevant amounts from the Performance Security as Damages for such Concessionaire Default. Upon such invocation, encashment and appropriation from the Performance Security, the Concessionaire shall, within [30 (thirty)] days thereof, replenish, in case of partial appropriation, to its original level the Performance Security, and in case of appropriation of the entire Performance Security provide a fresh Performance Security, as the case may be, and the Concessionaire shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate this Agreement in accordance with Article 37. Upon replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Concessionaire shall be entitled to an additional Cure Period of [90 (ninety)] days for remedying the Concessionaire Default, and in the event of the Concessionaire not curing its default within such Cure Period, the Authority shall be entitled to invoke, encash and appropriate such Performance Security as Damages, and to terminate this Agreement in accordance with Article 37.

  • Commencement of Performance This Agreement is of no force and effect until signed by both parties and all JBE-required approvals are secured. Any commencement of performance prior to Agreement approval shall be at Contractor's own risk.

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