Performance Bank Guarantee definition

Performance Bank Guarantee means the irrevocable unconditional bank guarantee to be submitted by the successful bidder as per the RfS.

Performance Bank Guarantee means the irrevocable unconditional bank guarantee, submitted by the SPD to SECI from a bank mentioned in Schedule 2 of this Agreement in the form attached hereto as Schedule1;

Performance Bank Guarantee or “PBG” shall mean the irrevocable unconditional bank guarantee, submitted by the RPD to SECI in the form attached hereto as Schedule 1;

Examples of Performance Bank Guarantee in a sentence

• If the Buyer has terminated or is entitled to terminate the contract according to Section 3, the Buyer shall be entitled to demand and recover from the Bidder/Seller/Contractor liquidated damages equivalent to Performance Bank Guarantee, unless stipulated otherwise elsewhere in the Contract.

• Performance Bank Guarantee will be valid up to 60 days beyond the date of warranty.

• ICMR-NITM also reserves the right to get the work done through an alternate agency and recover the cost of such work from the Performance Bank Guarantee of Bidder with ICMR-NITM.

• Security Deposit/ Performance Bank Guarantee /Retention Money: Please read in conjunction with scope of works & special terms.

• If the Principal has terminated the contract according to Section 3, or if the Principal is entitled to terminate the contract according to Section 3, the principal shall be entitled to demand and recover from the Contractor liquidated damages equivalent to Security Deposit / Performance Bank Guarantee.

More Definitions of Performance Bank Guarantee

Performance Bank Guarantee means the irrevocable unconditional bank guarantee submitted by the Solar Power Generator as per the MSEDCL/CE/RE/FY2018-19/1400 MW/ Solar/T-33 dated 15/09/2018.

Performance Bank Guarantee means the irrevocable unconditional bank guarantee submitted by the Solar Power Producer as per the RFS No. … … … … … … … … … .

Performance Bank Guarantee means the irrevocable unconditional bank guarantee submitted by the Solar Power Generator as per the MSEDCL/CE/RE/2019/1400 MW/ Solar/T-29 dated 08/01/2019.

Performance Bank Guarantee means the irrevocable unconditional bank guarantee submitted by the Power Producer as per the RfS No. GUVNL / 100 MW / Solar (Phase X) dated 15.07.2020.

Performance Bank Guarantee or “PBG” shall mean the irrevocable and unconditional bank guarantee to be submitted by the Project SPV as per Clause 3.12;.

Performance Bank Guarantee shall in no manner and at no stage be relied upon to adversely affect or dilute the unconditional and irrevocable nature of this Bank Guarantee.

Performance Bank Guarantee means the security to be provided by the bidder in for the due performance of the Contract.