Calling on Bank Guarantee Sample Clauses

Calling on Bank Guarantee. Without limitation to the Council’s rights under this Agreement and at law arising from a breach of this Agreement by the Developer:
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Calling on Bank Guarantee. The Council may call on the Bank Guarantee in the event that the Developer: fails to make a payment of any part of the Development Contribution by the Development Contribution Date or any other amount payable under this Deed by its due date for payment; or breaches any other term or condition of this Deed, and fails to remedy the relevant failure or breach within 7 days after the Council’s notice; or in the event of the Developer becoming insolvent or an application is made for bankruptcy or winding up of the Developer. If the Council calls on the Bank Guarantee as a result of the Developer’s failure to pay any amount due under this Deed, then the Council will apply the amount received pursuant to its claim on the Bank Guarantee in satisfaction of the Developer’s obligation to pay the relevant amount. Return of Bank Guarantee Provided that the Developer has complied with its obligations under this Deed including payment of the Development Contribution the Council will return the Bank Guarantee to the Developer. If required by the Council because it has called on the Bank Guarantee amount, the Developer shall immediately replace the Bank Guarantee with another Bank Guarantee to the full amount of the original Bank Guarantee. Council will promptly return the Bank Guarantee if it resolves to no longer pursue Gazettal Notice in relation to the Planning Proposal.
Sample 1
Calling on Bank Guarantee. The Council may call on the Bank Guarantee in the event that the Developer: fails to make a payment of any part of the Development Contribution in accordance with the Schedule or any other amount payable under this Agreement by its due date for payment; or breaches any other term or condition of this Agreement, and fails to remedy the relevant failure or breach within 7 days after the Council’s notice. If the Council calls on the Bank Guarantee as a result of the Developer’s failure to pay any amount due under this Agreement, then the Council will apply the amount received pursuant to its claim on the Bank Guarantee towards the Developer’s obligation to pay the relevant amount and will deduct that amount from the amount payable. In those circumstances, the Developer will be required to pay to the Council the outstanding balance of the Development Contribution and other amounts payable under this Agreement.
Sample 1
Calling on Bank Guarantee. (a) The Council may call on the Bank Guarantee in the event that the Developer fails to make a payment of any part of the Development Contribution in accordance with the Schedule or any other amount payable under this Agreement by its due date for payment and fails to remedy the relevant failure or breach within 7 days after the Council’s notice.
Sample 1

Related to Calling on Bank Guarantee

  • Bank Guarantee In addition to the Common Articles, it is specified that: In order to guaranty the proper execution of its contractual obligations pursuant to the Contract and/or Order(s), the Supplier shall issue in favor of the Purchaser a first demand and irrevocable performance bond from a first class bank or other financial institutes agreed by the Purchaser, to guaranty good performance by the Supplier of its obligations under the Contract. The Supplier shall issue the bond within thirty (30) days after issuance of the SPC or of the Order. Each performance bond shall amountto fifteen per cent (15%) of the total value of the concerned SPC and / or Order. Each performance bond shall expire when the relevant services have been fully performed in compliance with the Contract.

  • Special Account Instructions You may request that we facilitate certain trust, will, or court-ordered account arrangements. However, because we do not give legal advice, we cannot counsel you as to which account arrangement most appropriately meets the specific requirements of your trust, will, or court order. If you ask us to follow any instructions that we believe might expose us to claims, lawsuits, expenses, liabilities, or damages, whether directly or indirectly, we may refuse to follow your instructions or may require you to indemnify us or post a bond or provide us with other protection. We may require that account changes requested by you, or any account owner, such as adding or closing an account or service, be evidenced by a signed Account Change Card or other document which evidences a change to an account and accepted by us.

  • Notice to Issuer Documents will be considered to have been delivered to the Issuer on the next business day following the date of transmission, if delivered by fax, the date of delivery, if delivered by hand during normal business hours or by prepaid courier, or 5 business days after the date of mailing, if delivered by mail, to the following: PHIVIDA HOLDINGS INC. 17 – 0000 Xxxxxx Xxxxxx Vancouver, BC V6G 1M9 Attention: Xxxx-Xxxxx Xxxxxxxxxxx, President & CEO Email: xxxx@xxxxxxx.xxx

  • Notice to Proceed (NTP Following the JOA and purchase order issuance, the County will issue a Notice to Proceed (NTP) that will provide the construction start date, the Work duration period, and the Substantial Completion date. The Contractor agrees to begin and complete construction within the dates specified on the NTP. The County must approve all extensions of time in writing. The County may also issue an Emergency Notice to Proceed (NTP). In the event the County requires the Contractor to respond to an immediate request for work, a Job Order will be created and an Emergency NTP will be issued. The Contractor will be required to perform the Scope of Work included with the Emergency NTP as directed by the County’s Project Manager or designee. The Detailed Scope of Work, Quotation, Subcontractor Listing, Shop Drawings and required Non Pre-priced backup documentation will be submitted upon completion of the emergency work in accordance with the Ordering Procedures detailed in Section III above.

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