Contract Performance Guarantee means the irrevocable unconditional bank guarantee, submitted and to be submitted by the TSP or by the Selected Bidder on behalf of the TSP to the Nodal Agency from a bank mentioned in Annexure 17 of the RFP, in the form attached here to as Schedule 8, in accordance with Article 3 of this Agreement and which shall include the additional bank guarantee furnished by the TSP under this Agreement; “Contract Year”, for the purpose of payment of Transmission Charges, shall mean the period beginning on the COD, and ending on the immediately succeeding March 31 and thereafter each period of 12 months beginning on April 1 and ending on March 31 provided that the last Contract Year shall end on the last day of the term of the TSA;
Contract Performance Guarantee means the irrevocable unconditional bank guarantee, submitted and to be submitted by the TSP or by the Selected Bidder on behalf of the TSP to the Nodal Agency from a bank mentioned in Annexure 17 of the RFP, in the form attached here to as Schedule 8, in accordance with Article 3 of this Agreement and which shall include the additional bank guarantee furnished by the TSP under this Agreement;
Contract Performance Guarantee means the irrevocable unconditional bank guarantee, submitted and to be submitted by the TSP or by the Selected Bidder on behalf of the TSP to the Nodal Agency from a bank mentioned in Annexure 17 of the RFP, in the form attached here to as Schedule 8, in accordance with Article 0 of this Agreement and which shall include the additional bank guarantee furnished by the TSP under this Agreement;
Examples of Contract Performance Guarantee in a sentence
In such an event, the Nodal Agency shall forfeit the Contract Performance Guarantee of the TSP, without prejudice to any other right or remedy that may be available to the Nodal Agency hereunder or subsistence otherwise.
The right of the Nodal Agency to encash the Contract Performance Guarantee is without prejudice to the other rights of the Nodal Agency under this Agreement.
In case of such termination, the Contract Performance Guarantee shall be returned to the TSP as per the provisions of Article 6.5.1.
The release of the Contract Performance Guarantee shall be without prejudice to other rights of the Nodal Agency under this Agreement.
If the then existing Contract Performance Guarantee is for an amount which is less than the amount of the liquidated damages payable by the TSP to the Nodal Agency under this Article 6.3 and the TSP fails to make payment of the balance amount of the liquidated damages not covered by the Contract Performance Guarantee, then such balance amount shall be deducted from the Transmission Charges payable to the TSP.
More Definitions of Contract Performance Guarantee
Contract Performance Guarantee shall have the meaning ascribed to it in Clause 3;
Contract Performance Guarantee means the irrevocable unconditional bank guarantee, submitted or to be submitted by the Seller to the Procurer in the form attached hereto as Annexure 1, in accordance with the terms of PPA and RFP;
Contract Performance Guarantee means a security given by or for a contractor for the performance of 1 or more of the contractor’s
Contract Performance Guarantee means a security given by or for a contractor for the performance of 1 or more of the contractor’s obligations under a contract with an accountable officer or statutory body.
Contract Performance Guarantee means the Contract Performance Guarantee as submitted by the Seller in favor of the Purchaser at the time of bidding.
Contract Performance Guarantee means the irrevocable, unconditional and revolving bank guarantee submitted by the Transmission Service Provider to the Long Term Transmission Customers in terms of the Transmission Service Agreement;
Contract Performance Guarantee means the irrevocable unconditional bank guarantee, submitted or to be submitted by the Seller to the Procurer in the form attached hereto as Annexure 1, in accordance with the terms of PPA and RFP; “Contracted Capacity” shall mean the net capacity of power (in MW) contracted between the Seller and the Procurer(s) at the Delivery Point; “Contract Period” shall mean the period commencing from and endingon …………. “Central Transmission Utility” or “CTU” shall mean the Board or the Government company notified as “Central Transmission Utility” or “CTU” means any Government company which the Central Government may notify under sub-section (1) of section 38 of The Electricity Act 2003 “Delivery Date” shall mean the date on which the Seller commences supply of the Contract Capacity to the Procurer; "Delivery Point" The Delivery Point for the power shall be the State Transmission Periphery of Gujarat; “Dispute” shall mean any dispute or difference of any kind between the Procurer and the Seller in connection with or arising out of this Agreement including but not limited to any issue on the interpretation and scope of the terms of this Agreement as provided in Article 7.2 of this Agreement; "Due Date" shall have the meaning ascribed thereto in Article 5.3.2 “Effective Date” shall have the meaning ascribed thereto in Article 2.1 of this Agreement; “Earnest Money Deposit” Shall have the meaning ascribed in RFP; “Force Majeure” or “Force Majeure Event” shall have the meaning ascribed thereto in Article 6.1 of this Agreement; “Forced Outage” Refers to an outage of a generating unit or transmission facility due to a fault or reasons not planned which is accepted by SLDC/RLDC/CTU/STU; GERC shall mean Gujarat Electricity Regulatory Commission "Grid Code" / “IEGC” or “State Grid Code” shall mean the Grid Code specified by the Central Commission under Clause (h) of Sub-section (1) of Section 79 of the Electricity Act and/or the State Grid Code as specified by the concerned State Commission, referred under Clause (h) of Sub-section (1) of Section 86 of the Electricity Act 2003, as applicable; “Indian Governmental Instrumentality” shall mean the Government of India, Governments of state(s) of Gujarat and [Insert name of state where Seller and Power Station is located] in India, and any ministry, department, board, authority, agency, corporation, commission under the direct or indirect control of Government of India or any of the above state Government(s) or both, any political...