Common use of CONTRACT PERFORMANCE GUARANTEE Clause in Contracts

CONTRACT PERFORMANCE GUARANTEE. 1.03.1 The Contract Performance Guarantee to be furnished under this Agreement shall be for guaranteeing the commencement of supply of power up to the Contracted Capacity within the time specified in this Agreement. 1.03.2 If the Seller fails to commence supply of power from the Scheduled Commissioning Date specified in this Agreement, subject to conditions mentioned in Article 9, MPPMCL shall have the right to encash the Performance Bank Guarantee without prejudice to the other rights of MPPMCL under this Agreement.

CONTRACT PERFORMANCE GUARANTEE. 1.03.1 2.3.1. The Contract Performance Guarantee to be furnished under this Agreement shall be for guaranteeing the commencement of supply of power up to the Contracted Capacity within the time specified in this Agreement. 1.03.2 2.3.2. If the Seller fails to commence supply of power from the Scheduled Commissioning Date specified in this Agreement, subject to conditions mentioned in Article 910, MPPMCL shall have the right to encash the Performance Bank Guarantee without prejudice to the other rights of MPPMCL under this Agreement.