Additional Performance Security definition

Additional Performance Security shall have the meaning set forth in Clause 7.1;

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Additional Performance Security means the Bank Guarantee to be submitted by Successful Bidder in accordance with Clause 8.7 of this RFP Document

Additional Performance Security means a Bank Guarantee for an amount as defined in Article 9.4 of Concession Agreement; submitted by the Concessionaire towards fulfilment of its obligation for on-boarding an Operating Partner for the operations and maintenance of the Convention Centre / Hotel during the Operator Lock-in Period.} 3

Examples of Additional Performance Security in a sentence

• In addition, if there is any increase to the estimated cost of any work, City may also require Company to obtain an Additional Performance Security and/or Additional Payment Security even if such additional security had not been originally required with respect to the work.

• The Additional Performance Security shall be deposited through e-Grass, Demand Daft, Banker's Cheque, Government Securities or Bank Guarantee.

• The Additional Performance Security shall be deposited in lump sum by the successful bidder before execution of Agreement.

• If City draws on any Additional Performance Security, it will notify Company of the amount drawn, and Company will promptly restore such Additional Performance Security to its full original amount.

• With respect to any proposed work, City may recover against both the Durable Performance Security and any applicable Additional Performance Security obtained to insure that work.

• The Additional Performance Security shall be forfeited by the Procuring Entity when work is not completed within stipulated period by the selected bidder.

• The Additional Performance Security shall be equal to fifty percent of Unbalanced Bid Amount.

• Each Additional Performance Security shall be conditioned upon the faithful performance of this Agreement and any work performed thereunder and shall be released by City one-year following the date the work for which it was obtained is completed, inspected, accepted, and released by the City Engineer.

• In case of failure of submission of Performance Security and Additional Performance Security (if any) within above mentioned time period, the award shall be deemed to be cancelled and Bid security shall be encashed by the Authority as per Clause 2.21 of the RFP.

More Definitions of Additional Performance Security

Additional Performance Security means a performance security that must be submitted by the Selected Bidder to SJPNL along with Performance Security to secure performance of the obligations of the Bidder under clause 31.5 of the RFP;

Additional Performance Security means a performance security that must be submitted by the Selected Bidder to the KMC, along with Performance Security and ESHS Security, to secure the obligations of the Concessionaire/Bidder in relation to the clause 16.5 of the RFP document.

Additional Performance Security shall have the mean- ing set forth in Clause 7.1;

Additional Performance Security shall have the meaning ascribed to it in Article 6.1(c).

Additional Performance Security means a performance security that must be submitted by the Selected Bidder to the Executive agency before the issue of LOA to secure the obligations of the Concessionaire/Bidder in relation to the clause 16.5 of the RFP document.

Additional Performance Security shall have the meaning ascribed to it in Recital C(a) and shall include any revised/ incremental Performance Security submitted by the Purchaser in accordance with the requirements of Clause 4;