Construction Security Deposit definition

Construction Security Deposit. A commercial instrument provided by the Company pursuant to Clause 9.4.7(a) for remedying any liability, obligation or responsibility arising during construction and Commissioning of the Facility.
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Construction Security Deposit. The meaning ascribed thereto in Clause 9.4.7(a).
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Examples of Construction Security Deposit in a sentence

  • Notwithstanding anything in this Agreement to the contrary, drawing on the Construction Security Deposit shall be the sole and exclusive remedy of JPS for any liability, obligation or responsibility of the Company under this Agreement occurring or arising prior to the Commercial Operations Date.

  • The Construction Security Deposit shall consist of one of the following: (i) a cash payment which shall be held in a segregated, interest-bearing account; or (ii) an unconditional and irrevocable direct pay letter of credit issued by a financial institution acceptable to JPS in a form and with substance acceptable to JPS.

  • The Construction Security Deposit and any interest accrued thereon may be applied to the payment of liquidated damages or other Damages and accrued interest thereon.

  • The Company shall ensure that there shall be no discontinuity between the expiration of the Construction Security Deposit and the effectiveness of the Operations Security Deposit.

  • If the Company terminates this Agreement on or before JPS has so returned the Construction Security Deposit, JPS shall return to the Company any amount of the Construction Security Deposit and accrued interest thereon which remains after all liquidated damages or other Damages and accrued interest due and owing to JPS pursuant to Clause 9.4.7(a) have been paid.

  • The Operations Security Deposit shall be in a similar form to those permitted in Clause 9.4.7(a) for the Construction Security Deposit.

  • All interest earned on the Construction Security Deposit shall be deemed to be part of the Construction Security Deposit and shall be held and/or disbursed in the same manner as the Construction Security Deposit.

  • Landlord shall have no responsibility for the rate or amount of any interest earned on the Construction Security Deposit or for the preservation of the principal of the Construction Security Deposit.

  • Upon such transfer or assignment and delivery of the Security Deposit and the Construction Security Deposit (if applicable), as aforesaid, the prior Sublandlord shall be relieved of all liability with respect to the obligations and/or covenants under this Sublease thereafter to be performed by the Sublandlord.

  • Prior to the commencement of construction of the ---------------- Subtenant Improvements, Subtenant shall deposit with Sublandlord irrevocable, unconditional, standby letter of credit in a form substantially similar to the form attached to the Sublease as Exhibit F in the amount of one million dollars ($1,000,000), with Sublandlord as beneficiary ("Construction Security Deposit").

Related to Construction Security Deposit

  • Security Deposit means the deposit to be held by the owner as security for the due performance of the contractual obligations.

  • Security Deposits means all Tenant security deposits in the form of cash and letters of credit, if any, held by Seller, as landlord (together with any interest which has accrued thereon, but only to the extent such interest has accrued for the account of the Tenant).

  • construction site means a workplace where construction work is being performed;

  • Construction Fee means a fee or other remuneration for acting as general contractor and/or construction manager to construct improvements, supervise and coordinate projects or to provide major repairs or rehabilitation on a Property.

  • Construction Fund means an account specifically identified in the Indenture to hold funds which are currently available for expenditure to acquire or construct public facilities eligible under the Act.