Performance Security for Operation and Maintenance Period Sample Clauses

Performance Security for Operation and Maintenance Period. 9.4.1. On achieving COD, the Concessionaire, to cover its liability arising from the breach of Performance Standards leading to payment of Damages as mentioned in the Schedule 12 or any breach of this Agreement or for the liability of defects and deficiencies arising after expiry of Concession period/Termination, shall provide to the ULB Operation Performance Security for a cumulative sum of INR[12], in the form set forth in Schedule 4, to be modified, mutatis mutandis, for this purpose. The Operation Performance Security (“OPS”) in the form of performance bank guarantee has to be furnished by the Concessionaire to the ULB within 45daysofachievingCOD.TheConcessionaireshallkeeptheOperation 12 Performance Security valid until one year after the expiry of the Concession Period.
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Performance Security for Operation and Maintenance Period. 9.4.1 On achieving COD, the Concessionaire, to cover its liability arising from the breach of Performance Standards leading to payment of Damages as mentioned in the Schedule 1212 or any breach of this Agreement or for the liability of defects and deficiencies arising after Termination, shall provide to the ULB, Operation Performance Security of a sum of Rs. 1,50,00,000/- (Rs. One Crore Fifty Lacs Only)from a Bank, in the form set forth in Schedule 4, to be modified, mutatis mutandis, for this purpose(hereinafter referred as “Operation Performance Security”). The Operation Performance Security in the form of performance bank guarantee has to be furnished by the Concessionaire to the ULB within 45 days of achieving COD. The Concessionaire shall keep the Operation Performance Security valid throughout the Concession Period plus Post Concession Period by renewal or otherwise.
Sample 1
Performance Security for Operation and Maintenance Period. On or before the completion of the Construction Works and issuance of the Provisional Completion Certificate, the Concessionaire, to cover its liability arising from the breach of Performance Standards leading to payment of Damages as mentioned in the Schedule 12 or any breach of this Agreement or for the liability of defects and deficiencies arising after Termination, shall provide to the Authority a Performance Security of a sum of Rs. 90,00,000/- (Rupees Ninety Lakhs only), in the form set forth in Schedule 4, to be modified, mutatis mutandis, for this purpose. The Concessionaire shall keep the Performance Security for Operation and Maintenance Period valid until one year after the expiry of the Concession Period.
Sample 1

Related to Performance Security for Operation and Maintenance Period

  • MONITORING OF OPERATION AND MAINTENANCE 19.1 Monthly status reports During Operation Period, the Concessionaire shall, no later than 7 (seven) days after the close of each month, furnish to the Authority and the Independent Engineer a monthly report stating in reasonable detail the condition of the Bus Terminal including its compliance or otherwise with the Maintenance Requirements, Maintenance Manual, Maintenance Programme and Safety Requirements, and shall promptly give such other relevant information as may be required by the Independent Engineer. In particular, such report shall separately identify and state in reasonable detail the defects and deficiencies that require rectification.

  • COMPENSATION FOR CONSTRUCTION PHASE SERVICES 5.1 For the Construction Manager’s performance of the Work as described in Section 2.3, the Owner shall pay the Construction Manager the Contract Sum in current funds. The Contract Sum is the Cost of the Work as defined in Section 6.1.1 plus the Construction Manager’s Fee.

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  • Term of Services The term of this Agreement shall begin on the Effective Date and shall end on , the date of completion specified in Exhibit A, and Consultant shall complete the work described in Exhibit A on or before that date, unless the term of the Agreement is otherwise terminated or extended, as provided for in Section 8. The time provided to Consultant to complete the services required by this Agreement shall not affect the City’s right to terminate the Agreement, as referenced in Section 8.

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  • COMMERCIAL REUSE OF SERVICES The member or user herein agrees not to replicate, duplicate, copy, trade, sell, resell nor exploit for any commercial reason any part, use of, or access to 's sites.

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