Fresh Performance Security Sample Clauses

Fresh Performance Security. In the event of the encashment of the Performance Security by SMC/NGS as the case may be pursuant to Encashment Notice issued in accordance with the provisions of Article 16 the Concessionaire shall within 30 (thirty) days of the Encashment Notice furnish to NGS / SMC fresh Performance Security failing which NGS/SMC shall be entitled to terminate this Agreement in accordance with the provisions of Article 16. The provisions set forth in Article 3.1 above shall apply mutatis mutandis to such fresh Performance Security.
Sample 1Sample 2
AutoNDA by SimpleDocs
Fresh Performance Security. In the event of the encashment of the Performance Security by ITEL pursuant to Encashment Notice issued in accordance with the provisions of Article 16 the Concessionaire shall within 30 (thirty) days of the Encashment Notice furnish to ITEL fresh Performance Security failing which ITEL shall be entitled to terminate this Agreement in accordance with the provisions of Article 16. The provisions set forth in Clause 3.1 above shall apply mutatis mutandis to such fresh Performance Security.
Sample 1
Fresh Performance Security. In the event of the encashment of the Performance Security by NMMT pursuant to Encashment Notice issued in accordance with the provisions of Article 16 the Concessionaire shall within 30 (thirty) days of the Encashment Notice furnish to NMMT fresh Performance Security failing which NMMT shall be entitled to terminate this Agreement in accordance with the provisions of Article 16. The provisions set forth in Article 3.1 above shall apply mutatis mutandis to such fresh Performance Security.
Sample 1
Fresh Performance Security. One month before the expiry of performanc e security, the Concessionaire shall furnish to ACTSL a fresh performance security in the form of Bank Guarantee, as above, for a like amount with a validity of 12 (twelve) months. The Concessionaire shall keep on furnishing fresh Performance Security one month before the expiry of validity of performance security in force every year till last Bank Guarantee has been furnished which should be valid till three months beyond the Concession Period. In case of failure of the Concessionaire to furnish a fresh pe rformance security, ACTSL shall have the right to invoke the bank guarantee which it has in its possession. In the event of the encashment of the Performance Security by ACTSL pursuant to Encashment Notice, the Concessionaire shall within 30 (thirty ) days of the Encashment Notice furnish to ACTSL fresh Performance Security failing which ACTSL shall be entitled to terminate this Agreement.
Sample 1
Fresh Performance Security. In the event of the encashment of the Performance Security by BRBN pursuant to Encashment Notice issued in accordance with the provisions of Article 16 the Concessionaire shall within 30 (thirty) days of the Encashment Notice furnish to BRBN fresh Performance Security failing which BRBN shall be entitled to terminate this Agreement in accordance with the provisions of Article 16. The provisions set forth in Article 7.1 above shall apply mutatis mutandis to such fresh Performance Security.
Sample 1
Fresh Performance Security. In the event of the encashment of the Performance Security by DTIDCL pursuant to Encashment Notice issued in accordance with the provisions of Article 15 the Concessionaire shall within 30 (thirty) days of the Encashment Notice furnish to DTIDCL fresh Performance Security failing which DTIDCL shall be entitled to terminate this Agreement in accordance with the provisions of Article 15. The provisions set forth in Clause 3.1 above shall apply mutatis mutandis to such fresh Performance Security.
Sample 1
Fresh Performance Security. In the event of the encashment of the Performance Security by AUTHORITY pursuant to Encashment Notice issued in accordance with the provisions of Article 13 the Operator shall within 15 (fifteen) days of the Encashment Notice furnish to AUTHORITY fresh Performance Security failing which amounts to default of the Operator and AUTHORITY shall be entitled to terminate this Agreement in accordance with the provisions of Article 13. The provisions set forth in Article 3.1 above shall apply mutatis mutandis to such fresh Performance Security.
Sample 1
AutoNDA by SimpleDocs

Related to Fresh Performance Security

  • Performance Security If our Tender is accepted, we commit to obtain a performance security in accordance with the Tendering document;

  • Release of Performance Security (i) The Authority shall return the Performance Security to the Contractor within 60 (sixty) days of the expiry of the Maintenance Period or the Defects Liability Period, whichever is later, under this Agreement. Notwithstanding the aforesaid, the Parties agree that the Authority shall not be obliged to release the Performance Security until all Defects identified during the Defects Liability Period have been rectified.

  • Appropriation of Performance Security Upon occurrence of a Concessionaire Default, the Authority shall, without prejudice to its other rights and remedies hereunder or in law, be entitled to invoke, encash and appropriate the relevant amounts from the Performance Security as Damages for such Concessionaire Default. Upon such invocation, encashment and appropriation from the Performance Security, the Concessionaire shall, within [30 (thirty)] days thereof, replenish, in case of partial appropriation, to its original level the Performance Security, and in case of appropriation of the entire Performance Security provide a fresh Performance Security, as the case may be, and the Concessionaire shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate this Agreement in accordance with Article 37. Upon replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Concessionaire shall be entitled to an additional Cure Period of [90 (ninety)] days for remedying the Concessionaire Default, and in the event of the Concessionaire not curing its default within such Cure Period, the Authority shall be entitled to invoke, encash and appropriate such Performance Security as Damages, and to terminate this Agreement in accordance with Article 37.

  • Ongoing Performance Measures The Department intends to use performance-reporting tools in order to measure the performance of Contractor(s). These tools will include the Contractor Performance Survey (Exhibit H), to be completed by Customers on a quarterly basis. Such measures will allow the Department to better track Vendor performance through the term of the Contract(s) and ensure that Contractor(s) consistently provide quality services to the State and its Customers. The Department reserves the right to modify the Contractor Performance Survey document and introduce additional performance-reporting tools as they are developed, including online tools (e.g. tools within MFMP or on the Department's website).

  • KEY PERFORMANCE INDICATORS 10.1 The Supplier shall at all times during the Framework Period comply with the Key Performance Indicators and achieve the KPI Targets set out in Part B of Framework Schedule 2 (Goods and/or Services and Key Performance Indicators).

  • Performance Assurance Seller agrees to deliver to Buyer Performance Assurance in a form acceptable to Buyer to secure its obligations under this Agreement, which Performance Assurance Seller shall maintain in full force and effect for the period posted with Buyer, as follows:

  • Performance Share Award If your Award includes a Performance Share Award, and you voluntarily terminate your employment prior to the end of the Performance Period, you will forfeit your entire Performance Share Award. 

  • Performance Award You are hereby awarded, on the Grant Date, a Performance Award with a target value of [AMOUNT].

  • Performance Share Units The Committee may, in its discretion, grant to Executive performance share units subject to performance vesting conditions (collectively, the “Performance Units”), which shall be subject to restrictions on their sale as set forth in the Plan and an associated Performance Unit Grant Letter.

  • Performance Measure The specific representation of a process or outcome that is relevant to the assessment of performance; it is quantifiable and can be documented

Time is Money Join Law Insider Premium to draft better contracts faster.