Common use of Upon Termination under Clause Clause in Contracts

Upon Termination under Clause. 23.2.1, the Authority shall be entitled to encash the Bid Security or Performance Security, as the case may be and appropriate the proceeds thereof as Damages; provided, however, that if Financial Close has not occurred solely as a result of the Authority being in default of any of its obligations under Clause 4.2, it shall, upon Termination, return the Bid Security or Performance Security, as the case may be forthwith along with the Damages due and payable under Clause 4.2. For the avoidance of doubt, it is expressly agreed that if the Bid Security shall have been substituted by Performance Security, the Authority shall be entitled to encash therefrom an amount equal to Bid Security.

Upon Termination under Clause. 23.2.1, 22..2.1 the Authority shall be entitled to encash the Bid Security or Performance Security, as the case may be and appropriate the proceeds thereof as Damages; providedprovided , however, that if Financial Close has not occurred solely due to Force Majeure or as a result of the Authority being in default of any of its obligations under Clause 4.2, 4.1.2 it shall, shall upon Termination, return Termination release the Bid Security or Performance Security, Security ,as the case may be ,forthwith along with the Damages due and payable under Clause 4.2. 4.2 For the avoidance of doubt, it is expressly agreed that if the Bid Security shall have been substituted by the Performance Security, the Authority shall be entitled to encash therefrom an amount equal to the Bid Security.

Upon Termination under Clause. 23.2.119.2.1, the Authority shall be entitled to encash the Bid Security or Performance Security, as the case may be and appropriate the proceeds thereof as Damages; provided, provided however, that if Financial Close has not occurred solely as a result of the Authority being in default of any of its obligations under Clause 4.2, it shall, upon Termination, Termination return the Bid Security or Performance Security, as the case may be forthwith along with the Damages due and payable under Clause clause 4.2. For the avoidance of doubt, it is expressly agreed that if the Bid Security shall have been substituted by Performance Security, the Authority shall be entitled to encash therefrom an amount equal to Bid Security.

Upon Termination under Clause. 23.2.1, the Authority shall be entitled to encash the Bid Security or Performance Security, as the case may be and appropriate the proceeds thereof as Damages; provided, however, that if Financial Close has not occurred solely as a result of the Authority being in default of any of its obligations under Clause 4.2, it shall, upon Termination, return the Bid Security or Performance Security, as the case may be forthwith along with the Damages due and payable under Clause 4.2. For the avoidance of doubt, it is expressly agreed that if the Bid Security shall have been substituted by Performance Security, the Authority shall be entitled to encash therefrom an amount equal to Bid Security.