Mobilisation Advance Sample Clauses

Mobilisation Advance. The Authority shall, on request of the Concessionaire, made at any time after the Appointed Date, and upon the Concessionaire furnishing a Bank Guarantee in a form satisfactory to the Authority, make an advance payment in a sum not exceeding 10 % (ten per cent) of the Project Cost (the “Mobilisation Advance”). The Mobilisation Advance shall be paid by the Authority within 30 (thirty) days of receipt of a request in this behalf from the Concessionaire. The rate of interest on the Mobilisation Advance shall be equal to the Bank Rate, compounded annually. The Mobilisation Advance shall be deducted by the Authority in 4 (four) equal instalments from each of the payments to be made by the Authority to the Concessionaire in accordance with the provisions of Clause 23.4 and the interest thereon shall be recovered as the 5th (fifth) and final instalment upon expiry of 120 (one hundred and twenty) days commencing from the date of recovery of the 4th (fourth) instalment.
Sample 1Sample 2Sample 3See All (4)
AutoNDA by SimpleDocs
Mobilisation Advance. 11.2.1 Mobilisation advance shall be generally 5% of original contract value payable in two equal instalments or as mentioned in the Special Conditions of Contract and shall be payable in one or two equal instalments as specified in Special Conditions of Contract. The first instalment shall be paid after mobilisation has started and next instalment shall be paid after satisfactory utilization of earlier instalment. Moblisation advance shall be paid interest free against acceptable Bank Guarantee from a scheduled commercial bank in India. The Contractor, once the 50% of mobilisation advance has been recovered, shall have a one time option to reduce the Bank Guarantee for the mobilisation advance by the amount recovered. Advance against Plant and Machinery
Sample 1Sample 2Sample 3See All (4)
Mobilisation Advance. (This clause is applicable only if specifically mentioned in the tender)
Sample 1Sample 2Sample 3
Mobilisation Advance. 6.5.1. On written application from the Contractor, the Bank may grant mobilization advance up to 10% of the amount of accepted tender. The mobilization advance will be released against production of Bank Guaran- tee for like amount. The advance shall be released after Contractor satisfies Architect/Consultant with production of documentary evidence that this amount of Mobilization Advance shall be used for procurement of material/equipment/labour for the work. The advance shall attract simple interest at the rate of(15%) per annum. The advance shall be secured by a Bank Guarantee from a Scheduled Bank (other than the Bank) for the amount of mobilization Advance plus interest at the rate of 15% per annum (in approved proforma ),which will be recovered in the manner described hereinafter.
Sample 1
Mobilisation Advance. Mobilisation advance for the Mine Operator has not been considered for this Project under the Agreement.
Sample 1
Mobilisation Advance. No mobilisation advance for the Project under this Agreement shall be provided to the Mine Operator.
Sample 1
Mobilisation Advance. 27.1 [Mobilisation Advance]26
Sample 1
AutoNDA by SimpleDocs
Mobilisation Advance. This shall be limited to 10% of the Contract value and shall be paid in 2 stages : Stage 1– 5% of Contract Value on signing of the contract agreement. Stage 2 – 5% on mobilization of site-establishment, setting up offices, bringing in equipment and actual commencement of work. The stage 1 of advance shall be payable immediately after signing of contract agreement. The stage 2 of advance shall be payable at the time of mobilisation, only after submission of an utilization certificate by the contractor that the Stage 1 advance has been properly utilized in the contract. These Advances shall be payable against irrevocable guarantee (Bank Guarantee, FDRs) from a scheduled commercial bank of India of at least 110% of the value of the sanctioned advance amount (covering principal plus interest).
Sample 1

Related to Mobilisation Advance

  • Travel Advance Regular employees not covered by a work party advance, and who are required to proceed on travel status, shall be provided with an adequate travel advance. The amount of advance will be determined by such factors as time away from headquarters and the frequency of reimbursement.

  • Drawdown Subject to the terms and conditions of this Agreement, each Advance shall be made to the Borrowers following receipt by the Agent from the Borrowers of a Drawdown Notice not later than 10:00 a.m. on the third Banking Day before the date, which shall be a Banking Day falling within the Drawdown Period for such Advance, on which the Borrowers propose such Advance is made. A Drawdown Notice shall be effective on actual receipt by the Agent and, once given, shall, subject as provided in clause 3.6.1, be irrevocable.

  • Travel Advances The University will, to the extent permitted by State law and rule, provide travel advances, upon request, of up to eighty (80) percent of budgeted expenses for authorized travel of longer than five (5) consecutive days.

  • Refinancing Preparation Advance If the Financing Agreement provides for the repayment out of the proceeds of the Financing of an advance made by the Association or the Bank (“Preparation Advance”), the Association shall, on behalf of the Recipient, withdraw from the Financing Account on or after the Effective Date the amount required to repay the withdrawn and outstanding balance of the advance as at the date of such withdrawal from the Financing Account and to pay all accrued and unpaid charges, if any, on the advance as at such date. The Association shall pay the amount so withdrawn to itself or the Bank, as the case may be, and shall cancel the remaining unwithdrawn amount of the advance.”

  • NO ADVANCE PAYMENT No advance payments shall be made for any products or services furnished by Contractor pursuant to this Master Contract.

  • Disbursement 7.1.1 Subject to the availability of sufficient moneys in and from the Funding Source based on Agency’s reasonable projections of moneys accruing to the Funding Source, Agency will disburse Grant Funds to Grantee for the allowable Project activities described in Exhibit A that are undertaken during the Performance Period.

  • Borrowing Upon receipt of Proper Instructions, the Custodian shall deliver securities of a Portfolio to lenders or their agents, or otherwise establish a segregated account as agreed to by the applicable Fund on behalf of such Portfolio and the Custodian, as collateral for borrowings effected by such Portfolio, provided that such borrowed money is payable by the lender (a) to or upon the Custodian's order, as Custodian for such Portfolio, and (b) concurrently with delivery of such securities.

  • Step Advancement Each faculty member will be granted one (1) increment on the salary schedule each year up to the maximum allowed. To qualify for advancement one (1) step on the salary schedule, employees must have been employed in a paid status or on any form of medical leave (FMLA, CFRA, etc.), or on military leave seventy-five percent (75%) or more of the school days in a school year.

  • Repayment of Loan 6.1.1 Upon the occurrence of either an Event of Default or a decision by Party A, in its sole discretion, to demand repayment of the Loan or any portion of the Loan, Party A may at its discretion issue a notice (Repayment Notice) to Party B requiring repayment of the Loan or any portion of the Loan and any other payment in arrears under this Agreement.

  • Refinancing Preparation Advance; Capitalizing Front-end Fee and Interest (a) If the Loan Agreement provides for the repayment out of the proceeds of the Loan of an advance made by the Bank or the Association (“Preparation Advance”), the Bank shall, on behalf of such Loan Party, withdraw from the Loan Account on or after the Effective Date the amount required to repay the withdrawn and outstanding balance of the advance as at the date of such withdrawal from the Loan Account and to pay all accrued and unpaid charges, if any, on the advance as at such date. The Bank shall pay the amount so withdrawn to itself or the Association, as the case may be, and shall cancel the remaining unwithdrawn amount of the advance.”

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