References to Performance Security Clause Samples

References to Performance Security. 9.3.1 References to Performance Security occurring in this Agreement for and in respect of any period prior to the delivery of the Performance Security by the Mine Developer and Operator to TANGEDCO, or in respect of any period subsequent to the expiry or release thereof, as the case may be, shall be construed solely for the purposes of calculating the amount of Damages payable by the Mine Developer and Operator. 9.3.2 Until such time the Performance Security is provided by the Mine Developer and Operator pursuant to Clause 9.1.1 and the same comes into effect, the Bid Security shall remain in force and effect and TANGEDCO shall be entitled to appropriate the Bid Security for any amounts, including Damages, due and payable by the Mine Developer and Operator to TANGEDCO under this Agreement; provided that upon provision of the Performance Security pursuant to Clause 9.1.1, TANGEDCO shall release the Bid Security to the Mine Developer and Operator. Notwithstanding anything to the contrary contained in this Agreement, in the event the Performance Security is not provided by the Mine Developer and Operator within a period of 30 (thirty) days from the date of this Agreement, TANGEDCO may, at its option, encash the Bid Security and appropriate the proceeds thereof as Damages, and thereupon all rights, privileges, claims and entitlements of the Mine Developer and Operator under or arising out of this Agreement shall be deemed to have been waived by, and to have ceased with the concurrence of the Mine Developer and Operator, and this Agreement shall be deemed to have been terminated by mutual agreement of the Parties.

References to Performance Security. References to Performance Security or Performance Security-Utility occurring in this Agreement for and in respect of any period prior to the delivery of the Performance Security by one party to the other, or in respect of any period subsequent to the expiry or release thereof, as the case may be, shall be construed solely for the purposes of calculating the amount of Damages payable by the parties. Provided that in case of Damages payable by the Suppliers determined shall be appropriated from the Bid Security prior to the submission of the Performance Security.

References to Performance Security. References to Performance Security occurring in this Agreement for and in respect of any period prior to the delivery of the Performance Security by the Implementation Agency to the Authority, or in respect of any period subsequent to the expiry or release thereof, as the case may be, shall be £ 5% of the estimated Total Project Cost set forth in the Detailed Project Report construed solely for the purposes of calculating the amount of Damages payable by the Implementation Agency, and the amount so determined shall be appropriated from the Performance Security.

References to Performance Security. References to Performance Security occurring in this Agreement for and in respect of any period prior to the delivery of the Performance Security by the Concessionaire to MCGM, or in respect of any period subsequent to the expiry or release thereof, as the case may be, shall be construed solely for the purposes of calculating the amount of Damages payable by the Concessionaire, and the amount so determined shall be appropriated from the Performance Security or Operational Performance Security, as the case may be.

References to Performance Security. References to the Performance Security occurring in this Agreement for and in respect of any period prior to the delivery of the Performance Security by the Concessionaire to the Authority, 18 To be used in case the Project is being developed in Phases. or in respect of any period subsequent to the expiry or release thereof, as the case may be, shall be construed solely for the purposes of calculating the amount of Damages payable by the Concessionaire and/or any amounts due and payable by the Concessionaire to the Authority under and in accordance with the provisions of this Agreement, and the amount so determined shall be appropriated from the Bid Security or Deemed Performance Security, as the case may be.

References to Performance Security. Deleted:

References to Performance Security. References to Performance Security occurring in this Agreement for and in respect of any period prior to the delivery of the Performance Security by the Concessionaire to NMMC, or in respect of any period subsequent to the expiry or release thereof, as the case may be, shall be construed solely for the purposes of calculating the amount of Damages payable by the Concessionaire, and the amount so determined shall be appropriated from the Performance Security or Operational Performance Security, as the case may be.

References to Performance Security. 9.3.1 References to Performance Security occurring in this Agreement for and in respect of any period prior to the delivery of the Performance Security by the Mine Operator to the Authority, or in respect of any period subsequent to the expiry or release thereof, as the case may be, shall be construed solely for the purposes of calculating the amount of Damages payable by the Mine Operator. 11 To be fixed at a level equal to approximately 1% (one per cent) of the Total Project Cost. 12 To be fixed at a level equal to approximately 1% (one per cent) of the Total Project Cost. 13 To be fixed at a level equal to approximately 5% (five per cent) of the Total Project Cost. 9.3.2 Until such time the Performance Security is provided by the Mine Operator pursuant to Clause 9.1.1 and the same comes into effect, the Bid Security shall remain in force and effect and the Authority shall be entitled to appropriate the Bid Security for any amounts, including Damages, due and payable by the Mine Operator to the Authority under this Agreement; provided that upon provision of the Performance Security pursuant to Clause 9.1.1, the Authority shall release the Bid Security to the Mine Operator. Notwithstanding anything to the contrary contained in this Agreement, in the event the Performance Security is not provided by the Mine Operator within a period of [90 (ninety)] days from the date of issue of LOA, the Authority shall forfeit the Bid Security and appropriate the proceeds thereof as Damages, and thereupon all rights, privileges, claims and entitlements of the Mine Operator under or arising out of this Agreement shall be deemed to have been waived by, and to have ceased with the concurrence of the Mine Operator, and this Agreement shall be deemed to have been terminated by mutual agreement of the Parties.