Common use of Payment Security Clause in Contracts

Payment Security. 11.1 The Security Deposit submitted as part of the RFP no. RFP/RJ-ON-90/1/2023/3 will be used as Payment Security Bank Guarantee for the Buyer’s payment obligations under this Agreement. 11.2 The Sellers shall have the right to invoke, in part or in full, the Payment Security Bank Guarantee on account of a failure of the Buyer in meeting its payment obligations under this Agreement.

Payment Security. 11.1 The Security Deposit submitted as part of the RFP no. RFP/RJ-ON-90/1/2023/3 ON-90/1/2023/2. will be used as Payment Security Bank Guarantee for the Buyer’s payment obligations under this Agreement. 11.2 The Sellers shall have the right to invoke, in part or in full, the Payment Security Bank Guarantee on account of a failure of the Buyer in meeting its payment obligations under this Agreement.

Payment Security. 11.1 The Security Deposit submitted as part of the RFP no. RFP/RJ-ON-90/1/2023/3 ON-90/1/2023/2 will be used as Payment Security Bank Guarantee for the Buyer’s payment obligations under this Agreement. 11.2 The Sellers shall have the right to invoke, in part or in full, the Payment Security Bank Guarantee on account of a failure of the Buyer in meeting its payment obligations under this Agreement.