SECURITY FOR DUE PERFORMANCE Sample Clauses

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 ...

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 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.

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.

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.

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

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.

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.

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.