Common use of Performance Security for Operation and Maintenance Period Clause in Contracts

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.

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 Lead ULB Operation Performance Security for a cumulative sum of INR[12]Rs. 50,00,000 per MW Contracted Capacity (Rupees Fifty Lakhs per MW), 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 Lead ULB within 45daysofachievingCOD.TheConcessionaireshallkeeptheOperation 12 45 days of achieving COD. The Concessionaire shall keep the Operation Performance Security valid until one year after the expiry of the Concession Period.

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 Lead ULB Operation Performance Security for a cumulative sum of INR[12]Rs. 50,00,000 per MW (Rupees Fifty Lakhs per MW), 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 Lead ULB within 45daysofachievingCOD.TheConcessionaireshallkeeptheOperation 12 45 days of achieving COD. The Concessionaire shall keep the Operation Performance Security valid until one year after the expiry of the Concession Period.

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 Lead ULB Operation Performance Security for a cumulative sum of INR[12]Rs. 50,00,000 per MW Contracted Capacity (Rupees Fifty Lakhs per MW), 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 Lead ULB within 45daysofachievingCOD.TheConcessionaireshallkeeptheOperation 12 45 days of achieving COD. The Concessionaire shall keep the Operation Performance Security valid until one year after the expiry of the Concession Period.

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[12INR[10], 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 45 days of achieving COD. The Concessionaire shall keep the Operation Performance Security valid until one year after the expiry of the Concession Period.