SECURITY FOR DUE PERFORMANCE Sample Clauses

SECURITY FOR DUE PERFORMANCE. 43.1 The Contractor will provide at the Authority’s discretion, at the Contractor’s expense: 43.1.1 a parent company guarantee (from such Holding Company as the Authority may require unless otherwise agreed with the Authority) in the form contained in Schedule 10 and, if requested by the Authority, a legal opinion as to its enforceability in the form contained in Schedule 11. 43.2 The Authority will not be obliged to make any payment to the Contractor under this Contract whether for the Contract Price or otherwise unless and until the Contractor has complied with Clause 43.1. 43.3 The Contractor will be regarded as being in material breach of this Contract which is incapable of remedy in the event that any parent company guarantee is or becomes invalid or otherwise unenforceable.
Sample 1
AutoNDA by SimpleDocs
SECURITY FOR DUE PERFORMANCE. 37.1 The Supplier shall, within *** after signing of the Contract, furnish to the Purchaser the advance payment security in the amount of *** in the form specified in Appendix A-2 to the Contract. In case the Supplier fails to furnish the advance payment security in accordance with this Clause, the Purchaser may, without prejudice to any other rights or remedies provided under this Contract, terminate the Contract and the Supplier shall be liable for and pay to the Purchaser *** as liquidated damages, and bear the additional cost or loss that the Purchaser may incur. 37.2 In case the Supplier fails to fulfill any of his obligations under the Contract, the Purchaser has the right to claim against the Supplier with the advance payment security. 37.3 The security for advance payment shall be denominated in a currency as defined in Chapter 3, and shall be in the form of a bank guarantee issued by reputable banks, in the form provided in Appendix A-2 to the Contract. The advance payment security shall be transmitted from the Supplier’s Bank to the Purchaser’s Bank via the SWIFT system. *** CONFIDENTIAL TREATMENT REQUESTED. CONFIDENTIAL PORTIONS HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE COMMISSION. 61 Chapter 38 Effectiveness of the Contract and Miscellaneous 38.1 The Contract is made in [2] copies. Each Party shall keep an original of the Contract, the General Terms and Conditions of the Contract including Appendices that is signed by all Parties. 38.2 The Contract shall become effective upon fulfillment of the following conditions, (i) Signing of Contract by the authorized representatives of all Parties; (ii) Duly chopped with the company seals of all Parties. 38.3 These Terms and Conditions, by their nature, shall survive the cancellation, termination, expiration, or abandonment of this Contract, such as Clauses of Chapters 15, 22, 28, and 32. Appendices Appendix A Appendix A-1 Price Breakdown Appendix A-2 Bank Guarantee for Advance Payment (10%) Appendix A-3 “Delivery Schedule” Appendix B Appendix B-1 “Technical Agreement” Appendix A-1 Price Breakdown QUOTATION OF DEOXIDIZE FURNACE Jiangsu Zhongneng Polysilicon Technology Development Co., Ltd. Date: 2008-01-08 FRQ No.: 08-01-08 Provided by: Tap Mate Limited Our Ref. No.: B07-JSZN-A41
Sample 1
SECURITY FOR DUE PERFORMANCE. 43.1 The Contractor will provide at the Authority’s discretion, at the Contractor’s expense, a parent company guarantee (from such Holding Company as the Authority may require unless otherwise agreed with the Authority) in the form contained in Schedule 18 and, if requested by the Authority, a legal opinion as to its enforceability in the form contained in the Appendix to Schedule 18. 43.2 The Authority will not be obliged to make any payment to the Contractor under this Contract (whether for the Charges or otherwise) unless and until the Contractor has complied with Clause 43.1. 43.3 The Contractor will be regarded as being in material breach of this Contract which is incapable of remedy in the event that any parent company guarantee required by the Authority is or becomes invalid or otherwise unenforceable.
Sample 1
SECURITY FOR DUE PERFORMANCE. 26.1 The Supplier will provide, at its expense, when requested, a duly executed parent company guarantee (from the Supplier's ultimate parent company unless otherwise agreed with the Company) substantially in the format contained in Schedule 13A and/or a duly executed performance bond substantially in the format contained in Schedule 13B within 30 days of any such request by the Company. The Company will not be obliged to make any payments under the Contract after such a request (even if such payments have fallen due to the Supplier) until the parent company guarantee and/or the performance bond (as applicable) have been provided in a form satisfactory to the Company.
Sample 1
SECURITY FOR DUE PERFORMANCE. Subject to the provisions of this Agreement, Borrower irrevocably assigns to Lender, as security for the obligations secured by the Mortgage and Borrower’s due performance of this Agreement and for any other obligations of Borrower to Lender, Borrower’s Loan Account and all moneys placed in that account, including but not limited to amounts that may be subsequently deposited in the account by Borrower or Lender.
Sample 1
SECURITY FOR DUE PERFORMANCE. The Contractor shall submit to IMMSB an on-demand bank guarantee for a sum of RM3,400,000.00 (Ringgit Malaysia Three Million Four Hundred Thousand) only within 30 days from the date of the Agreement.
Sample 1
SECURITY FOR DUE PERFORMANCE. 28.1 In accordance with the Councils Contract Procedure rules (subject to the Contract value) the Council may request that the Consultant shall provide (on signature of the contract) a performance bond in a form approved by the Council. The Council will not be obliged to make any payments under the Contract until the requested performance bond has been provided in a form satisfactory to the Council. 28.2 Should the Consultant be a Subsidiary Company, the Council may request that the Consultant shall provide (at its own expense, on signature of the Contract) a Parent Company Guarantee (from the Consultant's ultimate parent company) The Council will not be obliged to make any payments under the Contract until the requested parent company guarantee has been provided in a form satisfactory to the Council.
Sample 1
AutoNDA by SimpleDocs
SECURITY FOR DUE PERFORMANCE. 41.1 As a condition precedent to the Contract, if required by the Authority, the Contractor shall (to the extent that it has not already done so) provide at its expense a parent company guarantee (from such Holding Company as the Authority may require unless otherwise agreed with the Authority) substantially in the form contained in Schedule 8 (Form of Parent Company Guarantee) and as approved by the Authority and, if requested by the Authority, a legal opinion substantially in the form contained in Schedule 9 (Form of Legal Opinion for Use with Guarantee) and as approved by the Authority.
Sample 1
SECURITY FOR DUE PERFORMANCE a) Before this Agreement is executed by the Township the Owner has deposited the cash or an irrevocable letter of credit in the full amount of Schedule “K”, herein called the “deposit”, such deposit to be given as security to ensure the performance by the Owner for all the terms and conditions of this Agreement. b) If irrevocable letters of credit are deposited pursuant to this Agreement, such letters of credit shall be in a form approved by the Township Treasurer and if such letters of credit contain an expiry or termination date, the following provisions shall apply: i. Until Final Acceptance of the Works by the Council of the Township and the expiry of the Warranty Period, the Owner shall deposit with the Township at least thirty (30) days prior to the expiry or termination date set out in the letters of credit, new irrevocable letters of credit in a form approved by the Treasurer of the Township and in an amount not less than the then existing letters of credit or such lesser amount as the Council of the Township in its absolute discretion may approve. ii. If such new letters of credit contain an expiry or termination date, then until the Final Acceptance of the Work by the Council of the Township, the Owner shall continue to redeposit new irrevocable letters of credit in the same manner as provided in sub-article (i) hereof until the Final Acceptance of the Work by the Council of the Township and the expiry of the Warranty Period. iii. If the Owner fails to deposit new letters of credit as required under sub articles (i) and (ii) hereof, such failure shall be deemed to be a breach of this Agreement by the Owner, and the Township, by resolution of Council without notice to the Owner may call upon any part or the whole amount of the existing letters of credit notwithstanding anything herein otherwise contained. Any amount received by the Township shall be held by the Township in the same manner as if it had originally been cash deposited as provided in this Agreement. iv. Every such letter of credit shall contain a specific covenant by the authority issuing such revocable letter of credit that a breach of any of sub-articles (i), (ii), and (iii) hereof shall entitle the Township to call upon the whole or any part of the letter of credit as provided in sub-article (iii). c) After having first notified the Owner as herein set forth, the Township by Resolution of Council, may at any time authorize the use of the whole or part of the proceeds of the amount ...
Sample 1

Related to SECURITY FOR DUE PERFORMANCE

  • Security for Performance In the event that Exhibit A Section 4 indicates the need for Consultant to provide additional security for performance of its duties under this Agreement, Consultant shall provide such additional security prior to commencement of its Required Services in the form and on the terms prescribed on Exhibit A, or as otherwise prescribed by the City Attorney.

  • Due Performance Each party to this Agreement undertakes the obligation that the other's expectation of receiving due performance will not be impaired. When reasonable grounds for insecurity arise with respect to the performance of either party, the other may, in writing, demand adequate assurance of due performance and until such written assurance is received may, if commercially reasonable, suspend any performance for which the agreed return has not been received.

  • Prompt Performance All actions required to be taken (including payments) by any party under this Agreement shall be performed within the time prescribed for performance in this Agreement, or if no period is prescribed, such actions shall be performed promptly.

  • Continuing Performance (a) The obligations under this Agreement continue until satisfied in full and do not merge with any action performed or document executed by any Party for the purposes of performance of this Agreement. (b) Any representation in this Agreement survives the execution of any document for the purposes of, and continues after, performance of this Agreement. (c) Any indemnity given by any Party under this Agreement: (i) constitutes a liability of that Party separate and independent from any other liability of that Party under this Agreement or any other agreement; and (ii) survives and continues after performance of this Agreement.

  • Software Performance HP warrants that its branded software products will conform materially to their specifications and be free of malware at the time of delivery. HP warranties for software products will begin on the date of delivery and unless otherwise specified in Supporting Material, will last for ninety (90) days. HP does not warrant that the operation of software products will be uninterrupted or error-free or that software products will operate in hardware and software combinations other than as authorized by HP in Supporting Material.

  • Excuse from performance of obligations If the Affected Party is rendered wholly or partially unable to perform its obligations under this Agreement because of a Force Majeure Event, it shall be excused from performance of such of its obligations to the extent it is unable to perform on account of such Force Majeure Event; provided that: (a) the suspension of performance shall be of no greater scope and of no longer duration than is reasonably required by the Force Majeure Event; (b) the Affected Party shall make all reasonable efforts to mitigate or limit damage to the other Party arising out of or as a result of the existence or occurrence of such Force Majeure Event and to cure the same with due diligence; and (c) when the Affected Party is able to resume performance of its obligations under this Agreement, it shall give to the other Party notice to that effect and shall promptly resume performance of its obligations hereunder.

  • Excused Performance 6.1 Notwithstanding the occurrence of a Force Majeure Event, in which case Clause 17 will govern, BT will not be liable for any failure or delay to perform any of its obligations under this Agreement (including any of its obligations to meet any Service Levels) to the extent that BT’s failure or delay in performing arises as a result of: 6.1.1 any failure or delay by the Customer to perform any of the Customer’s obligations under this Agreement; 6.1.2 any act or omission other than on the part of a BT Affiliate or a subcontractor or supplier appointed by it unless that BT Affiliate, subcontractor or supplier has invoked their force majeure rights under their contract with BT; or 6.1.3 Applicable Law, a court order, an application for interlocutory relief or injunction restricting or preventing BT from supplying a Service.

  • Responsibility for Performance Participation in state Centralized Contracts by Authorized Users is permitted upon the following conditions: (i) the responsibility with regard to performance of any contractual obligation, covenant, condition or term thereunder by any Authorized User other than State Agencies shall be borne and is expressly assumed by such Authorized User and not by the State; (ii) a breach of the Contract by any particular Authorized User shall neither constitute nor be deemed a breach of the Contract as a whole which shall remain in full force and effect, and shall not affect the validity of the Contract nor the obligations of the Contractor thereunder respecting non-breaching Authorized Users, whether State or otherwise; (iii) for a breach by an Authorized User other than a State Agency, the State specifically and expressly disclaims any and all liability for such breach; and (iv) each non-state agency Authorized User and Contractor guarantees to save the State, its officers, agents and employees harmless from any liability that may be or is imposed by their failure to perform in accordance with its obligations under the Contract.

  • Continuity of Service and Performance Unless otherwise agreed in writing, the Parties shall continue to provide service and honor all other commitments under this Agreement during the course of a Dispute with respect to all matters not subject to such Dispute.

  • Excuse for Nonperformance or Delayed Performance Except with respect to defaults of subcontractors, Contractor/Vendor shall not be in default by reason of any failure in performance of this contract in accordance with its terms (including any failure by Contractor/Vendor to make progress in the prosecution of the work hereunder which endangers such performance) if Contractor/Vendor has notified the Commission or designee within 15 days after the cause of the delay and the failure arises out of causes such as: acts of God; acts of the public enemy; acts of the State and any other governmental entity in its sovereign or contractual capacity; fires; floods; epidemics; quarantine restrictions; strikes or other labor disputes; freight embargoes; or unusually severe weather. If the failure to perform is caused by the failure of a subcontractor to perform or to make progress, and if such failure arises out of causes similar to those set forth above, Contractor/Vendor shall not be deemed to be in default, unless the services to be furnished by the subcontractor were reasonably obtainable from other sources in sufficient time to permit Contractor to meet the contract requirements. Upon request of Contractor, the Commission or designee shall ascertain the facts and extent of such failure, and, if such officer determines that any failure to perform was occasioned by any one or more of the excusable causes, and that, but for the excusable cause, Contractor’s progress and performance would have met the terms of the contract, the delivery schedule shall be revised accordingly, subject to the rights of the State under the clause entitled (in fixed-price contracts, “Termination for Convenience,” in cost-reimbursement contracts, “Termination”). (As used in this Paragraph of this clause, the term “subcontractor” means subcontractor at any tier).

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!