Construction Performance Security. The Concessionaire shall have, for the performance of its obligations hereunder during the Construction Period, provided to the Authority on the date of signing of this Agreement, an irrevocable and unconditional guarantee from a Bank for a sum equivalent to [Rs. [●] (Rupees [●])]14 in the form set forth in Schedule-F (the “Construction Performance Security”). Until such time the Construction Performance Security is provided by the Concessionaire pursuant hereto and the same comes into effect, the Bid Security shall remain in force and effect, and upon such provision of the Construction Performance Security pursuant hereto, the Authority shall release the Bid Security to the Concessionaire.
Construction Performance Security. (a) The Concessionaire shall, for the performance of its obligations hereunder during the Construction Period, provide to the Authority within the time period specified in Clause 4.2.2(i) or such extended period as may be mutually agreed between the Authority and the Concessionaire, an irrevocable and unconditional guarantee from a Bank for such amount as is specified in Schedule 8 and substantially in the format set forth in Schedule 8 (the “Construction Performance Security”). The Concessionaire shall maintain and keep in force the Construction Performance Security for the entire duration of the Construction Performance Security Period in accordance with this Clause 9.1. Until such time the Construction Performance Security is provided by the Concessionaire pursuant hereto and the same comes into effect, the Bid Security shall remain in force and effect, and upon such provision of the Construction Performance Security, the Authority shall release the Bid Security to the Concessionaire after a period of 10 (ten) days from the date on which the Concessionaire has submitted (in accordance with this Agreement) a valid Construction Performance Security.
Construction Performance Security. (a) The Concessionaire shall, for the performance of its obligations hereunder during the Construction Period and to the extent set out in Clauses 9.1.2(b) and 9.1.2(c), the performance of the obligations of the Other Concessionaire under the Other Concession Agreement during the Other Project Construction Period, provide to the Authority within the time period specified in Clause 4.2.2(i) or such extended period as may be mutually agreed between the Authority and the Concessionaire, an irrevocable and unconditional guarantee from a Bank for such amount as is specified in Schedule 8 and substantially in the format set forth in Schedule 8 (the “Construction Performance Security”). The Concessionaire shall maintain and keep in force the Construction Performance Security for the entire duration of the Construction Performance Security Period in accordance with this Clause 9.1. Until such time the Construction Performance Security is provided by the Concessionaire pursuant hereto and the same comes into effect, the Bid Security shall remain in force and effect, and upon such provision of the Construction Performance Security, the Authority shall release the Bid Security to the Concessionaire after a period of 10 (ten) days from the date on which the Concessionaire and the Other Concessionaire has submitted (in accordance with this Agreement and the Other Concession Agreement, as applicable) a valid Construction Performance Security and Other Project Construction Performance Security respectively.
Construction Performance Security. Each Concessionaire hereby acknowledges and agrees to its obligations regarding the Hospital to be operated and constructed by the other Concessionaire as set out in Clause
Construction Performance Security. The Concessionaire has to submit a construction performance security (in form of bank guarantee) within 30 days from the execution date to be released after 6 months of COD of Phase-II (Clause 9.1.1 + Clause 9.1.3)
Construction Performance Security. 8.1.1. The Concessionaire shall, for the performance of its obligations provide the Authority prior to signing of Agreement, an irrevocable and unconditional guarantee from a Bank acceptable to the Authority for an amount of Rs.1,90,00,000 (Rupees one crore ninety lakhs only) and in the form set forth in this concessionAgreement, Schedule D.
Construction Performance Security. 11.2.1 At any time prior to the Bid Security Expiry Date, the Concessionaire shall provide and deliver to GoS the Construction Performance Security. The Construction Performance Security:
Construction Performance Security. 9.1.1. The Concessionaire shall, for the performance of its obligations hereunder during the Construction Period, provide to the Authority no later than 45 (forty five) days from the date of issue of LoI, an irrevocable and unconditional guarantee froma Bank for a sum of Rs 7.15 Crore (Rupees seven crore Fifteen lakhs only) “Construction Performance Security”, valid from the date of issue thereof and until Operations Date in favor of Imphal Smart City Limited from Bank (a nationalized/ scheduled bank),and payable and enforceable in Imphal in the form set forth in Schedule L .Until such time the Performance Security is provided by the Concessionaire pursuant hereto and the same comes into effect, the Bid Security shall remain in force and effect, and upon such provision of the Performance Security pursuant hereto, the Authority shall release the Bid Security submitted by the Concessionaire at the time of submitting the RFP.
Construction Performance Security. For securing the due and punctual performance of its obligations relating to the Project and the terms and conditions of this Agreement by the Developer from the date of execution of the Development Agreement, including under Article 3, and during Construction Period, the Selected Bidder/Developer shall, on or before the date of signing of Agreement, deliver to DMA an unconditional and irrevocable bank guarantee for a sum of Rs. Cr2 (Rupees only) in favour of DMA from a scheduled/ nationalised bank acceptable to DMA and payable and enforceable in Ranchi, in the form set forth in Schedule 10. (the “Performance Security“).
Construction Performance Security. (a) The Operator shall provide the Company within 15 (fifteen) days of the date of issue of the Notice of Award an unconditional and irrevocable demand bank guarantee in favour of the Company from any scheduled bank having an operational branch at Ludhiana in the format acceptable to the Company for an amount of Rs. 4 Crores (Rupees Four Crores) (“Construction Performance Security”) guaranteeing the obligations of the Operator to enter into this Agreement and to perform the obligations under the RFP and this Agreement, including the fulfilment of the Conditions Precedents of the Operator, from the date of the Notice of Award to the date of Completion Certificate for the Project. Provided that in the event Operator fails to complete the Construction Works before the Scheduled Construction Completion Date, including any extension thereof, the Operator shall renew the Bank Guarantee, being the Construction Performance Security, at least 30 days prior to the expiry of the earlier Bank Guarantee till such time the Completion Certificate is issued.
