Forfeiture of Bid Security. (a) Subject to Section 2.4(b), if the Contracting Parties fail to achieve, through no default of Hospital, Financial Close by the Financial Close Target Date (as such date may be extended by Hospital in its sole and absolute discretion upon the request of Project Co) other than as a result of:
Forfeiture of Bid Security. (a) Subject to Section 2.4(b), if Project Co fails to achieve, through no default of Owner, Financial Close by the Financial Close Target Date (as such date may be extended by Owner in its Sole Discretion upon the request of Project Co) other than as a result of:
Forfeiture of Bid Security. Failure of the successful Bidder to whom a Notice of Award is tendered to execute the Contract Agreement and deliver the Bonds and other documents required of him at the time of execution within the time limit provided in the Contract Documents shall be just cause for RMWD to annul the Notice of Award and declare the Bid and any security therefore forfeited.
Forfeiture of Bid Security. The Bid Security can be forfeited in the following cases:
Forfeiture of Bid Security. The Bid security may be forfeited either in full or in part, at the discretion of MSEGS, on account of one or more of the following reasons:
Forfeiture of Bid Security. The Bid Security of the Bidder shall be forfeited if he withdraws his Bid during the period of Bid validity specified in the “Notice Inviting Bid” or extended validity period as agreed in writing by the Bidder. The Bid Security of the successful Bidder is liable to be forfeited if he fails to;
Forfeiture of Bid Security. The bid security will be forfeited in the following cases:
Forfeiture of Bid Security. 2.3 Failure of the successful Bidder to execute and deliver the Contract and deliver the required bonds as stipulated in paragraph 2.2 shall be cause for the VILLAGE to annul the Notice of Award and declare the Bid and any security therefore forfeited.
Forfeiture of Bid Security. (a) Subject to Section 2.4(b), if Contracting Parties or Lender fail to achieve through no default of OIPC, Financial Close by the Financial Close Target Date (as such date may be extended by OIPC in its sole and absolute discretion upon the request of Project Co) other than as a result of (i) the failure of OIPC to satisfy or waive the condition in Sections 2.5(a)(ii) or 2.5(a)(vii); (ii) the failure of Contracting Parties to satisfy or waive the Contracting Parties Conditions; or (iii) as a result of circumstances beyond the reasonable control of the Contracting Parties, but not including either (A) lack of funds; or (B) subject to Section 2.4(b), the failure to complete the Financing, OIPC will be entitled at any time thereafter to terminate this Agreement and to draw from the Bid Security and to retain the lesser of: (a) the full amount of the Bid Security, and (b) the difference between the Guaranteed Price and the price that OIPC is able to obtain from another proponent, together with all costs reasonably incurred by OIPC to enter into binding agreements with such other proponent. The Parties agree that the amounts so drawn constitute liquidated damages and not a penalty. Such liquidated damages represent a genuine and reasonable pre-estimate of the damages that OIPC will suffer as a result of the happening of the specified event. Such payment shall constitute full and final settlement of any and all damages that may be claimed by OIPC as a result of Contracting Parties not achieving Financial Close. The Parties agree that such liquidated damages shall be payable whether or not OIPC incurs or mitigates its damages, and that OIPC shall not have any obligation to mitigate any such damages.
Forfeiture of Bid Security. (a) If Contracting Parties or Lender fail to achieve through no default of Hospital, Financial Close by the Financial Close Target Date (as such date may be extended by Hospital in its sole and absolute discretion upon the request of Project Co) other than as a result of the failure of Hospital to satisfy or waive the Hospital Conditions in Section 2.5(a)(v) and (vi) and other than as a result of the failure of the Contracting Parties to satisfy or waive the Contracting Parties Conditions or by circumstances beyond the reasonable control of Contracting Parties but not including lack of funds or, subject to Section 2.4(b), the failure to complete the Financing, Hospital will be entitled at any time thereafter to terminate this Agreement and to draw from the Bid Security and to retain the lesser of (a) the full amount of the Bid Security, and (b) the difference between the Guaranteed Price and the price that Hospital is able to obtain from another proponent, together with all costs reasonably incurred by Hospital to enter into binding agreements with such other proponent. The Parties agree that the amounts so drawn constitute liquidated damages and not a penalty. Such liquidated damages represent a genuine and reasonable pre-estimate of the damages that Hospital will suffer as a result of the happening of the specified event. Such payment shall constitute full and final settlement of any and all damages that may be claimed by Hospital as a result of Contracting Parties not achieving Financial Close.
