Proposal Security definition

Proposal Security means the proposal bond as described in Section 3.3 of Exhibit B to the ITP.

Proposal Security means the proposal bond or letter of credit as described in Section 3.3 of Exhibit B to the ITP.

Proposal Security means a certified check in the amount of $10 million payable to IFA or the proposal bond as described in Section 3 of Exhibit C to the ITP.

Examples of Proposal Security in a sentence

• Forfeiture of Proposal Security in accordance with Section 4.6 of the ITP will constitute liquidated damages.

• It is agreed that the Proposal Security, if not forfeited by the Purchaser, will constitute additional xxxxxxx money for the sale of the Property to Purchaser, and will be applied to the Purchase Price at Closing.

• If Purchaser fails to timely deliver the Deposit in good funds, the award will be considered not to have been completed, and Seller may retain the Purchaser’s Proposal Security, and award the sale to the next highest and best responsible proposer, or pursue any right or remedy available at law or equity.

• In the event Seller breaches its obligation to sell the Property to Purchaser at closing for any reason other than a default by Purchaser, or a termination of this Agreement as provided in this Agreement, then Purchaser will have as its sole and exclusive remedy, the right to terminate this Agreement and obtain the return of its Xxxxxxx Money and the Proposal Security.

• In the event Purchaser fails or refuses to timely comply with its obligations hereunder or is unable to do so as the result of its act or failure to act, Seller may (i) terminate this Agreement, retain the Xxxxxxx Money and Proposal Security as liquidated damages and not as a penalty; or (ii) pursue specific performance of this Agreement; and/or (iii) pursue any other rights or remedies available at law or equity.

More Definitions of Proposal Security

Proposal Security means either a Proposal Bond or a Proposal Letter of Credit.

Proposal Security means the proposal bond as described in Section 3.3 of Exhibit C-2 to the ITP.

Proposal Security means the security provided by the Selected Bidder to the Authority along with the Bid / Proposal in the sum of INR ………….. (Rupees crore) in accordance with the Instructions to Bidders (ITB) and which is to remain in force until substituted by the Construction Performance Security.

Proposal Security means bid security

Proposal Security bears the meaning ascribed thereto in the Power Purchase Agreement;

Proposal Security means the Proposal Bond or the Proposal Letter(s) of Credit, as applicable.

Proposal Security or "Bid Security" means the unconditional bank guarantee in the amount at the rate of USD 5000 (five thousand) per MW or equivalent BDT issued by a scheduled bank in Bangladesh delivered to BPDB to secure (a) the obligations of the Bidder to maintain its Proposal in effect until the issue of the Letter of Intent and (b) thereafter, the obligations of the Company to furnish Performance Security Deposit and execute and deliver