Performance Security Deposit definition

Performance Security Deposit. – means the unconditional bank guarantee in an amount equal to (a) eighteen thousand Dollars (US$ 18,000.00) multiplied by (b) the Contracted Facility Capacity, issued by a scheduled bank in Bangladesh or by a foreign bank which has been authenticated by a scheduled bank in Bangladesh and shall by its terms be encashable at a bank in Dhaka, Bangladesh, provided by the Company as security for the Company’s obligations under the PPA, including its obligations to achieve financial closing, deliver the Operations Security Deposit and to pay liquidated damages to thereunder.

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Performance Security Deposit means an amount equal to 5% of the Contract value which shall be deducted and retained by the owner for the prescribed period against the performance of the work done. This shall be deducted from the running / final bills of the Contractor at the rate of 5% of the value of the work done in such bills.

Performance Security Deposit means the unconditional bank guarantee in an amount equal to

Examples of Performance Security Deposit in a sentence

In the event of a termination of this Agreement prior to the occurrence of Financial Closing due to a GOB Event of Default or BPDB Event of Default, as the case may be, the GOB shall, promptly, upon such termination, procure the return of the Performance Security Deposit by BPDB (without any drawings thereon) to the Company.
Violation shall lead to forfeiture of Performance Security Deposit and finally termination of the contract.
The Company shall maintain the Performance Security Deposit at the designated level at all times; provided that the Company may have fifteen (15) Days to replenish the Performance Security Deposit so as to return it to the required level, in the event that BPDB retains or collects funds from the Performance Security Deposit.
In the event of a termination of this Agreement prior to the occurrence of Financial Closing due to a GOB Event of Default or as the case may be, the GOB shall, promptly, upon such termination, procure the return of the Performance Security Deposit by BPDB (without any drawings thereon) to the Company.
Upon submission of the Performance Security Deposit the GOB shall, promptly, upon such submission, procure the return of the Proposal Security by BPDB (without any drawings thereon) to the Company.

More Definitions of Performance Security Deposit

Performance Security Deposit has the meaning set forth in Section 8.2 (a).

Performance Security Deposit means a deposit (in the form of cash and/or bank guarantee) towards faithful performance by the successful bidders towards the contractual obligations.

Performance Security Deposit means the unconditional bank guarantee in an amount equal to US$ 4.5 Million, calculated on the basis of (a) eighteen thousand Dollars (US$ 18,000.00) multiplied by (b) the Contracted Capacity, issued by a scheduled bank in Bangladesh or by a foreign bank which has been authenticated by a scheduled bank in Bangladesh and shall by its terms be encashable at a bank in Dhaka, Bangladesh, provided by the Company as security for the Company’s obligations hereunder, including its obligations to deliver the Operations Security Deposit and to pay liquidated damages hereunder;

Performance Security Deposit has the meaning set forth in Section 8.3(b); “PGCB’’ means Power Grid Company of Bangladesh;

Performance Security Deposit means - the Security amount to be remitted as Bank Guarantee by the Contractor for Guaranteed performance of the Contract along with the respective Contract agreement and it shall be an amount equal to 3% of total contract amount. This Bank Guarantee should be valid till the end of Operation and Maintenance period. The Bank Guarantee submitted by the contractor will be rounded off to the higher multiple of Rs 1000.

Performance Security Deposit means the unconditional and irrevocable bank guarantee in an amount equal to USD 0.5 (Zero point five) million issued by a scheduled bank in Bangladesh or by a foreign bank which has been authenticated by a scheduled bank in Bangladesh and shall by its terms be encashable at a bank in Dhaka, Bangladesh, provided by the Company as security for the Company’s obligations under the PPA, including its obligations to achieve financial closing by no later than the Required Financial Closing Date, deliver the Operations Security Deposit and to pay liquidated damages to there under.“PGCB” means the Power Grid Company of Bangladesh Ltd. and its successors or assigns;

Performance Security Deposit means the performance security deposit described in Section 4.9 that is and Acceptable Form of Security and that is required to be provided by Seller to Buyer.