Common use of Performance Guarantee Clause in Contracts

Performance Guarantee. The Concessionaire shall for due performance of its obligations during the Construction Phase provide to Concessioning Authority an unconditional and irrevocable bank guarantee, in favour of the Concessioning Authority encashable and enforceable at [●]17 substantially in the form set forth in Appendix 9 or an irrevocable revolving letter of credit in the form acceptable to the Concessioning Authority (the “Performance Guarantee”). The Performance Guarantee shall be for a sum of Rs. [●] (Rupees [●] only)18. Till such time the Concessionaire provides to Concessioning Authority the Performance Guarantee pursuant hereto, the Bid Security shall remain in full force and effect. The Performance Guarantee, if in the form of a bank guarantee shall be valid for an initial period of 1 (one) year and shall be renewed 30 (thirty) Days prior to expiry of each year, for an additional term of 1 (one) year. It is clarified that the Concessionaire shall be liable to restore the Performance Guarantee to the full amount in case of part encashment of the same by the Concessioning Authority. This shall be done within 30 (thirty) Days of any such part encashment. The Performance Guarantee, if in the form of a letter of credit shall be irrevocable and replenished from time to time such that an amount of Rs. [●] (Rupees [●] only)19 is available in immediate cash to the Concessioning Authority for the entire period of the Construction Phase. The Performance Guarantee furnished under this provision shall be valid until expiry of 6 (six) months from the Date of Commercial Operations. Failure of the Concessionaire to provide a valid Performance Guarantee and/or restore and maintain the Performance Guarantee in accordance with this Article shall entitle the Concessioning Authority to forthwith terminate this Agreement and also if relevant, to forfeit the Bid Security. 17 Place where the performance guarantee shall be enforced and sums thereunder paid 18 Equivalent to 5% of the Estimated Project Cost. 19 Same as 18 above.

Performance Guarantee. The Concessionaire shall for due performance of its obligations during the Construction Phase provide to Concessioning Authority an unconditional and irrevocable bank guarantee, in favour favor of the Concessioning Authority encashable and enforceable at [●]17 substantially in the form set forth in Appendix 9 or an irrevocable revolving letter of credit in the form acceptable to the Concessioning Authority (the “Performance Guarantee”). The Performance Guarantee shall be for a sum of Rs. [●] (Rupees [●] only)18. Till such time the Concessionaire provides to Concessioning Authority the Performance Guarantee pursuant hereto, the Bid Security shall remain in full force and effect. The Performance Guarantee, if in the form of a bank guarantee shall be valid for an initial period of 1 (one) year and shall be renewed 30 (thirty) Days prior to expiry of each year, for an additional term of 1 (one) year. It is clarified that the Concessionaire shall be liable to restore the Performance Guarantee to the full amount in case of part encashment of the same by the Concessioning Authority. This shall be done within 30 (thirty) Days of any such part encashment. The Performance Guarantee, if in the form of a letter of credit shall be irrevocable and replenished from time to time such that an amount of Rs. [●] (Rupees [●] only)19 is available in immediate cash encashment to the Concessioning Authority for the entire period of the Construction Phase. The Performance Guarantee furnished under this provision shall be valid until expiry of 6 (six) months from the Date of Commercial OperationsCOD. Failure of the Concessionaire to provide a valid Performance Guarantee and/or restore and maintain the Performance Guarantee in accordance with this Article shall entitle the Concessioning Authority to forthwith terminate this Agreement and also if relevant, to forfeit the Bid Security. 17 Place where the performance guarantee shall be enforced and sums thereunder paid 18 Equivalent to 5% of the Estimated Project Cost. 19 Same as 18 above.

Performance Guarantee. The Concessionaire shall for due performance of its obligations during the Construction Phase provide to Concessioning Authority an unconditional and irrevocable bank guarantee, in favour of the Concessioning Authority encashable and enforceable at [●]17 Gandhidham, Kutch substantially in the form set forth in Appendix 9 or an irrevocable revolving letter of credit in the form acceptable to the Concessioning Authority (the “Performance Guarantee”). The Performance Guarantee shall be for a sum of Rs. [●] 11.68 Crores (Rupees [●] only)18Eleven Crores and Sixty Eight Lakhs only). Till such time the Concessionaire provides to Concessioning Authority the Performance Guarantee pursuant hereto, the Bid Security shall remain in full force and effect. The Performance Guarantee, if in the form of a bank guarantee shall be valid for an initial period of 1 (one) year and shall be renewed 30 (thirty) Days prior to expiry of each year, for an additional term of 1 (one) year. It is clarified that the Concessionaire shall be liable to restore the Performance Guarantee to the full amount in case of part encashment of the same by the Concessioning Authority. This shall be done within 30 (thirty) Days of any such part encashment. The Performance Guarantee, if in the form of a letter of credit shall be irrevocable and replenished from time to time such that an amount of Rs. [●] 11.68 Crores (Rupees [●] only)19 Eleven Crores and Sixty Eight Lakhs only) is available in immediate cash to the Concessioning Authority for the entire period of the Construction Phase. The Performance Guarantee furnished under this provision shall be valid until expiry of 6 (six) months from the Date of Commercial Operations. Failure of the Concessionaire to provide a valid Performance Guarantee and/or restore and maintain the Performance Guarantee in accordance with this Article shall entitle the Concessioning Authority to forthwith terminate this Agreement and also if relevant, to forfeit the Bid Security. 17 Place where the performance guarantee shall be enforced and sums thereunder paid 18 Equivalent to 5% of the Estimated Project Cost. 19 Same as 18 above.

Performance Guarantee. The Concessionaire shall for due performance of its obligations during the Construction Phase Concession Period provide to Concessioning Authority an unconditional and irrevocable bank guarantee, in favour of the Concessioning Authority encashable and enforceable at [●]17 Mumbai substantially in the form set forth in Appendix 9 or an irrevocable revolving letter of credit in the form acceptable to the Concessioning Authority (the “Performance Guarantee”). The Performance Guarantee shall be for a sum of Rs. [●] Rs.3,25,00,000/- (Rupees [●] only)18Three Crore Twenty Five Lakh only). Till such time the Concessionaire provides to Concessioning Authority the Performance Guarantee pursuant hereto, the Bid Security shall remain in full force and effect. The Performance Guarantee, if in the form of a bank guarantee shall be valid for an initial period of 1 (one) year and shall be renewed 30 (thirty) Days prior to expiry of each year, for an additional term of 1 (one) year. It is clarified that the Concessionaire shall be liable to restore the Performance Guarantee to the full amount in case of part encashment of the same by the Concessioning Authority. This shall be done within 30 (thirty) Days of any such part encashment. The Performance Guarantee, if in the form of a letter of credit Bank Guarantee shall be irrevocable and replenished from time to time such that an amount of Rs. [●] Rs.3,25,00,000/- (Rupees [●] only)19 Three Crore Twenty Five Lakh only) is available in immediate cash to the Concessioning Authority for the entire period of the Construction PhaseConcession. The Performance Guarantee furnished under this provision shall be valid until expiry of 6 (six) months from the Date of Commercial Operations. Failure of the Concessionaire to provide a valid Performance Guarantee and/or restore and maintain the Performance Guarantee in accordance with this Article shall entitle the Concessioning Authority to forthwith terminate this Agreement and also if relevant, to forfeit the Bid Security. 17 Place where the performance guarantee shall be enforced and sums thereunder paid 18 Equivalent to 5% of the Estimated Project Cost. 19 Same as 18 above.

Performance Guarantee. (a) The Concessionaire shall for due performance of its obligations during the Construction Phase Development Period provide to Concessioning Authority an unconditional and irrevocable bank guarantee, in favour of the Concessioning Authority encashable cashable and enforceable at [●]17 Mumbai substantially in the form set forth in Appendix 9 or an irrevocable revolving letter of credit in the form acceptable to the Concessioning Authority (the “Performance Guarantee”). The Performance Guarantee shall be for a sum of Rs. [●] 9,60,00,000/- (Rupees [●] only)18Nine Crore and Sixty Lakh Only). Till such time the Concessionaire provides to Concessioning Authority the Performance Guarantee pursuant hereto, the Bid Security shall remain in full force and effect. The Performance Guarantee, if in the form of a bank guarantee shall be valid for an initial period of 1 (one) year and shall be renewed 30 (thirty) Days prior to expiry of each year, for an additional term of 1 (one) year. It is clarified that the Concessionaire shall be liable to restore the Performance Guarantee to the full amount in case of part encashment of the same by the Concessioning Authority. This shall be done within 30 (thirty) Days of any such part encashment. The Performance Guarantee, if in the form of a letter of credit shall be irrevocable and replenished from time to time such that an amount of Rs. [●] (Rupees [●] only)19 is available in immediate cash to the Concessioning Authority for the entire period of the Construction Phase. The Performance Guarantee furnished under this provision shall be valid until expiry of 6 (six) months from the Date of Commercial Operations. Failure of the Concessionaire to provide a valid Performance Guarantee and/or restore and maintain the Performance Guarantee in accordance with this Article shall entitle the Concessioning Authority to forthwith terminate this Agreement and also if relevant, to forfeit the Bid Security. 17 Place where the performance guarantee shall be enforced and sums thereunder paid 18 Equivalent to 5% of the Estimated Project Cost. 19 Same as 18 above.

Performance Guarantee. The Concessionaire shall for due performance of its obligations during the Construction Phase provide to Concessioning Authority an unconditional and irrevocable bank guarantee, in favour favor of the Concessioning theConcessioning Authority encashable and enforceable at [●]17 Thoothukudi substantially in the form set forth in Appendix inAppendix 9 or an irrevocable revolving letter of credit in the form acceptable to the Concessioning Authority (the “Performance Guarantee”). The Performance Guarantee shall be for a sum of Rs. [●] 7.95 Crores (Rupees [●] only)18Seven Crores and Ninety Five Lakhs only). Till such time the Concessionaire provides to Concessioning Authority the Performance Guarantee pursuant hereto, the Bid Security shall remain in full force and effect. The Performance Guarantee, if in the form theform of a bank guarantee shall be valid for an initial period of 1 (one) year one)year and shall be renewed 30 (thirty) Days prior to expiry of each year, for an additional term of 1 (one1(one) year. It is clarified that clarifiedthat the Concessionaire shall Concessionaireshall be liable to restore the Performance Guarantee to Guaranteeto the full amount in case of part encashment of the same by the Concessioning Authority. This shall be done within 30 (thirty) Days of any such part encashment. The Performance Guarantee, if in the form of a letter of credit shall be irrevocable and replenished from time to time such that an amount of Rs. [●] 7.95 Crores (Rupees [●] only)19 Seven Crores and Ninety Five Lakhs only) is available in immediate cash encashment to the Concessioning Authority for the entire period of the Construction Phase. The Performance Guarantee furnished under this provision shall provisionshall be valid until expiry untilexpiry of 6 (six) months from monthsfrom the Date of Commercial OperationsCOD. Failure of the Concessionaire to provide a valid toprovide avalid Performance Guarantee and/or Guaranteeand/or restore and maintain the Performance Guarantee in accordance with this Article shall entitle the Concessioning Authority to forthwith terminate this Agreement and also if relevant, to forfeit the Bid Security. 17 Place where the performance guarantee shall be enforced and sums thereunder paid 18 Equivalent to 5% of the Estimated Project Cost. 19 Same as 18 above.

Performance Guarantee. The Concessionaire shall for due performance of its obligations during the Construction Phase provide to Concessioning Authority an unconditional and irrevocable bank guarantee, in favour of the Concessioning Authority encashable and enforceable at [●]17 substantially in the form set forth in Appendix 9 or an irrevocable revolving letter of credit in the form acceptable to the Concessioning Authority (the “Performance Guarantee”). The Performance Guarantee shall be for a sum of Rs. [●] (Rupees [●] only)18. Till such time the Concessionaire provides to Concessioning Authority the Performance Guarantee pursuant hereto, the Bid Security shall remain in full force and effect. The Performance Guarantee, if in the form of a bank guarantee shall be valid for an initial period of 1 (one) year and shall be renewed 30 (thirty) Days prior to expiry of each year, for an additional term of 1 (one) year. It is clarified that the Concessionaire shall be liable to restore the Performance Guarantee to the full amount in case of part encashment of the same by the Concessioning Authority. This shall be done within 30 (thirty) Days of any such part encashment. The Performance Guarantee, if in the form of a letter of credit shall be irrevocable and replenished from time to time such that an amount of Rs. [●] (Rupees [●] only)19 is available in immediate cash to the Concessioning Authority for the entire period of the Construction Phase. The Performance Guarantee furnished under this provision shall be valid until expiry of 6 (six) months from the Date of Commercial Operations. Failure of the Concessionaire to provide a valid Performance Guarantee and/or restore and maintain the Performance Guarantee in accordance with this Article shall entitle the Concessioning Authority to forthwith terminate this Agreement and also if relevant, to forfeit the Bid Security. 17 Place where the performance guarantee shall be enforced and sums thereunder paid 18 Equivalent to 5% of the Estimated Project Cost. 19 Same as 18 16 above.

Performance Guarantee. The Concessionaire shall for due performance of its obligations during the Construction Phase provide to Concessioning Authority an unconditional the Authority, and irrevocable bank guaranteecontinuously maintain throughout the Term of this Lease Agreement, in favour of the Concessioning Authority encashable and enforceable at [●]17 substantially in the form set forth in Appendix 9 or an irrevocable revolving letter of credit in the form acceptable to the Concessioning Authority (the “a Performance Guarantee”). The Performance Guarantee shall be for delivered to the Authority with a sum copy of Rsthe signed Lease Agreement. [●] (Rupees [●] only)18. Till such time Through the Concessionaire provides to Concessioning Authority fifth Calendar Year, the Performance Guarantee pursuant heretoshall be in an amount equal to the then current Minimum Annual Guarantee (the "Performance Guarantee"). For the sixth Calendar Year through the last Calendar Year or Last Partial Year, at the sole discretion of the Authority based on the Concessionaire’s compliance with all terms of this Lease Agreement, the Bid Security shall remain Performance Guarantee may be reduced to an amount equal to one-half of the then current Minimum Annual Guarantee. Such reduction in full force and effectthe Performance Guarantee may be revoked at any time at the sole discretion of the Authority. The Performance Guarantee, if Guarantee shall be in the form of a surety bond or an irrevocable letter of credit (by a bank guarantee shall be valid for an initial period of 1 (onerated "B" or better by A. M. Best Rating Services, Fitch Ratings, Xxxxx’x Investors Service, or S&P Global Ratings) year and shall be renewed 30 (thirty) Days prior made payable to expiry of each year, for an additional term of 1 (one) yearthe Omaha Airport Authority. It is clarified that the Concessionaire shall be liable to restore If the Performance Guarantee to the full amount in case of part encashment of the same by the Concessioning Authority. This shall be done within 30 (thirty) Days of any such part encashment. The Performance Guarantee, if is in the form of a letter of credit surety bond, the bond shall be irrevocable issued by a surety company authorized to do business in the State of Nebraska and replenished from time to time such that rated as at least an amount of RsA or A+. [●] (Rupees [●] only)19 is available in immediate cash Monetary Performance Guarantees shall be deposited into a bank account held by the Omaha Airport Authority and any interest earned thereon shall accrue to the Concessioning Authority for the entire period of the Construction PhaseAuthority. The Performance Guarantee furnished shall secure Concessionaire’s full and faithful performance and observance of all of Concessionaire’s obligations under this provision Lease Agreement and under any other written agreement between Concessionaire and the Authority specifically referring to this Performance Guarantee. The Performance Guarantee shall not be valid until expiry considered to be held in trust by the Authority for the benefit of 6 (six) months from the Date Concessionaire and shall not be considered an advance payment of Commercial Operations. Failure rent or a measure of the Concessionaire to provide a valid Performance Guarantee and/or restore Authority's damages in the case of an event of default by Concessionaire. The Authority may, but shall not be obligated to, draw upon and maintain apply the Performance Guarantee in accordance with to: (a) pay any rent not paid on or before the date it is due and the Authority shall not be required to give notice or opportunity to cure before drawing on the Performance Guarantee; and/or (b) remedy any other violation of this Article shall entitle Lease Agreement, after Concessionaire has received notice and opportunity to cure as provided herein. Further the Concessioning Authority may draw down the entire Performance Guarantee immediately, without notice to forthwith terminate Concessionaire, upon receipt of a notice of non-renewal of the form of the Performance Guarantee. If the Authority applies any of the Performance Guarantee to any of the above, Concessionaire shall, immediately upon demand, replenish the Performance Guarantee to its full amount. If Concessionaire fully performs all of its obligations under this Lease Agreement, the Performance Guarantee, or any balance remaining, will be released within thirty (30) days from the Expiration Date or termination of this Lease Agreement and also delivery of the Premises to the Authority. However, if relevantany question exists concerning Concessionaire’s full compliance with the Lease Agreement or if there is any obligation under this Lease Agreement to be performed after the Expiration Date or earlier termination of this Lease Agreement, to forfeit the Bid Security. 17 Place where the performance guarantee Authority shall be enforced entitled to require that the Performance Guarantee remain in place until the Authority is fully satisfied that there has been no violation of this Lease Agreement and sums thereunder paid 18 Equivalent all obligations due under this Lease Agreement have been fully performed, even if it takes the Authority longer than thirty (30) days to 5% of make such a determination to the Estimated Project Cost. 19 Same as 18 aboveAuthority’s satisfaction.

Performance Guarantee. The Concessionaire shall for due performance of its obligations during the Construction Phase provide to Concessioning Authority an unconditional and irrevocable bank guarantee, in favour favor of the Concessioning theConcessioning Authority encashable and enforceable at [●]17 Thoothukudi substantially in the form set forth in Appendix inAppendix 9 or an irrevocable revolving letter of credit in the form acceptable to the Concessioning Authority (the “Performance Guarantee”). The Performance Guarantee shall be for a sum of Rs. [●] 17.82 Crores (Rupees [●] only)18Seventeen Crores and Eighty Two Lakhs only). Till such time the Concessionaire provides to Concessioning Authority the Performance thePerformance Guarantee pursuant hereto, the Bid Security shall remain in full force and effect. The Performance Guarantee, if in the form theform of a bank guarantee shall guaranteeshall be valid for validfor an initial period initialperiod of 1 (one) year one)year and shall be renewed 30 (thirty) Days prior to expiry of each year, for an additional term of 1 (one1(one) year. It is clarified that clarifiedthat the Concessionaire shall Concessionaireshall be liable to restore the Performance Guarantee to Guaranteeto the full amount in case of part encashment of the same by the Concessioning Authority. This shall be done within 30 (thirty) Days of any such part encashment. The Performance Guarantee, if in the form of a letter of credit shall be irrevocable and replenished from time to time such that an amount of Rs. [●] 17.82 Crores (Rupees [●] only)19 Seventeen Crores and Eighty Two Lakhs only) is available in immediate cash encashment to the Concessioning Authority for the entire period of the Construction Phase. The Performance Guarantee furnished under this provision shall be valid until expiry of 6 (six) months from the Date of Commercial OperationsCOD. Failure of the Concessionaire to provide toprovide a valid Performance Guarantee and/or restore and maintain the Performance Guarantee in accordance inaccordance with this Article shall entitle the Concessioning Authority to forthwith terminate this Agreement thisAgreement and also if relevant, to forfeit the Bid Security. 17 Place where the performance guarantee shall be enforced and sums thereunder paid 18 Equivalent to 5% of the Estimated Project Cost. 19 Same as 18 above.

Performance Guarantee. The Concessionaire shall for due performance of its obligations during the Construction Phase provide to Concessioning Authority an unconditional and irrevocable bank guarantee, in favour of the Concessioning Authority encashable and enforceable at [●]17 Gandhidham, Gujarat substantially in the form set forth in Appendix 9 or an irrevocable revolving letter of credit in the form acceptable to the Concessioning Authority (the “Performance Guarantee”). The Performance Guarantee shall be for a sum of Rs. [●] 1,36,88,000/ (Rupees [●] only)18One Crore and Thirty Six Lakhs and Eighty Eight Thousand only). Till such time the Concessionaire provides to Concessioning Authority the Performance Guarantee pursuant hereto, the Bid Security EMD shall remain in full force and effect. The Performance Guarantee, if in the form of a bank guarantee shall be valid for an initial period of 1 (one) year and shall be renewed 30 (thirty) Days prior to expiry of each year, for an additional term of 1 (one) year. It is clarified that the Concessionaire shall be liable to restore the Performance Guarantee to the full amount in case of part encashment of the same by the Concessioning Authority. This shall be done within 30 (thirty) Days of any such part encashment. The Performance Guarantee, if in the form of a letter of credit shall be irrevocable and replenished from time to time such that an amount of Rs. [●] 1,36,88,000/ (Rupees [●] only)19 One Crore and Thirty Six Lakhs and Eighty Eight Thousand only) is available in immediate cash to the Concessioning Authority for the entire period of the Construction Phase. The Performance Guarantee furnished under this provision shall be valid until expiry of 6 (six) months from the Date of Commercial Operations. Failure of the Concessionaire to provide a valid Performance Guarantee and/or restore and maintain the Performance Guarantee in accordance with this Article shall entitle the Concessioning Authority to forthwith terminate this Agreement and also if relevant, to forfeit the Bid Security. 17 Place where the performance guarantee shall be enforced and sums thereunder paid 18 Equivalent to 5% of the Estimated Project Cost. 19 Same as 18 aboveEMD.