Performance Bank Guarantee definition

Performance Bank Guarantee means the irrevocable unconditional bank guarantee to be submitted by the successful bidder as per the RfS.

Performance Bank Guarantee means the irrevocable unconditional bank guarantee, submitted by the SPD to SECI from a bank mentioned in Schedule 2 of this Agreement in the form attached hereto as Schedule1;

Performance Bank Guarantee means the irrevocable unconditional bank guarantee submitted by the Solar Power Generator as per the MSEDCL/CE/RE/FY2018-19/1400 MW/ Solar/T-23 dated 15/09/2018.

Examples of Performance Bank Guarantee in a sentence

• I / We agree to keep the Performance Bank Guarantee validity as per relevant clause of Notice Inviting Tenders.

• MSEDCL will forfeit total Performance Bank Guarantee on per day basis and proportionate to the Capacity that has not commenced supply of power.For example, in case of a Project of 240 MW capacity, if commencement of power supply from 100 MW capacity is delayed by 18 days beyond the SCSD, then the penalty shall be calculated as: PBG amount X (100/240) X (18/180).

• If the bidder fails to furnish required Performance Bank Guarantee in accordance with Section 3.8.

• The penalties, if any during the warranty period shall be recovered from the Performance Bank Guarantee (PBG) submitted by the successful bidder or from the Balance payment reserved with EDII.

• The Performance Bank Guarantee as per Clause 18 above and Success Charges as per Clause 19 above, shall be submitted by the WPD prior to signing of PPA.

More Definitions of Performance Bank Guarantee

Performance Bank Guarantee means the irrevocable unconditional bank guarantee submitted by the Solar Power Producer as per the RFS No. … … … … … … … … … .

Performance Bank Guarantee means the irrevocable unconditional bank guarantee submitted by the Solar Power Generator as per the MSEDCL/CE/RE/2019/1400 MW/ Solar/T-27 dated 08/01/2019.

Performance Bank Guarantee means the irrevocable unconditional bank guarantee submitted by the Power Producer as per the RfS No. GUVNL / 750 MW / Solar (Phase VII) dated 24.06.2019.

Performance Bank Guarantee or “PBG” shall mean the irrevocable unconditional bank guarantee, submitted by the SPD to SECI in the form attached hereto as Schedule 1;

Performance Bank Guarantee or “PBG” shall mean the irrevocable and unconditional bank guarantee to be submitted by the Project SPV as per Clause 3.12;.

Performance Bank Guarantee shall in no manner and at no stage be relied upon to adversely affect or dilute the unconditional and irrevocable nature of this Bank Guarantee.

Performance Bank Guarantee means the security to be provided by the bidder in for the due performance of the Contract.