Common use of Release of Performance Security Clause in Contracts

Release of Performance Security. 9.3.1. The Performance Security shall remain in force and effect from the Commencement Date till 180 days after the Terminal Date. In the event of Termination of the Agreement due to Concessionaire Default, the Authority shall forfeit the Performance Security. In the event of Termination upon Authority Default or Termination under Force Majeure, subject to deduction of dues payable to the Authority including Damages and compensation, the Performance Security shall be returned within a period of 30 days from the Termination Date.

Release of Performance Security. 9.3.1. The Performance Security shall remain in force and effect till the expiry of a period of 180 (one hundred and eighty) days from the Commencement Date till 180 days after the Terminal Transfer Date. In the event of Termination of the Agreement due to Concessionaire Service Provider Default, the Authority shall forfeit the Performance Security. In the event of Termination upon Authority Default or Termination under due to the occurrence of an event of Force Majeure, as per the terms and conditions of this Agreement, subject to deduction of dues and / or Damages payable to the Authority including Damages and compensationAuthority, the Performance Security shall be returned within a period of 30 (thirty) days from the Termination Date.

Release of Performance Security. 9.3.1. 9.3.1 The Performance Security shall remain in force and effect from the Commencement Date till 180 days after the Terminal Date. In the event of Termination of the Agreement due to Concessionaire Default, the Authority shall forfeit the Performance Security. In the event of Termination upon Authority Default or Termination under Force Majeure, subject to deduction of dues payable to the Authority including Damages and compensation, the Performance Security shall be returned returned, after adjusting dues, if any, within a period of 30 days from the Termination Datedays. .

Release of Performance Security. 9.3.1. The Performance Security shall remain in force and effect from the Commencement Date till 180 90 days after the Terminal Date. In the event of Termination of the Agreement due to Concessionaire Default, the Authority shall forfeit the Performance Security. In the event of Termination upon Authority Default or Termination under Force Majeure, subject to deduction of dues payable to the Authority including Damages and compensation, the Performance Security shall be returned within a period of 30 days from the Termination Date. 10. PROJECT IMPLEMENTATION

Release of Performance Security. 9.3.1. The Performance Security shall remain in force and effect from the Commencement Date till 180 days after the Terminal Date. In the event of Termination of the Agreement due to Concessionaire Default, the Authority shall forfeit the Performance Security. In the event of Termination upon Authority Default or Termination under Force Majeure, subject to deduction of dues payable to the Authority including Damages and compensation, the Performance Security shall be returned within a period of 30 days from the Termination Date.