Performance Security Deposit. – means the unconditional bank guarantee in an amount equal to (a) eighteen thousand Dollars (US$ 18,000.00) multiplied by (b) the Contracted Facility Capacity, issued by a scheduled bank in Bangladesh or by a foreign bank which has been authenticated by a scheduled bank in Bangladesh and shall by its terms be encashable at a bank in Dhaka, Bangladesh, provided by the Company as security for the Company’s obligations under the PPA, including its obligations to achieve financial closing, deliver the Operations Security Deposit and to pay liquidated damages to thereunder.

Performance Security Deposit means an amount equal to 5% of the Contract value which shall be deducted and retained by the owner for the prescribed period against the performance of the work done. This shall be deducted from the running / final bills of the Contractor at the rate of 5% of the value of the work done in such bills.

Performance Security Deposit means the unconditional bank guarantee in an amount equal to

Examples of Performance Security Deposit in a sentence

Performance Security Deposit shall be forfeited in case of termination of the agreement under clause no.
If I/We fails to do this or maintain a specified rate of progress (as specified in the Milestone details of contract data in the bid document), the performance guarantee (irrevocable bank Guarantee) and Performance Security Deposit if any deducted from the RA Bills shall be forfeited to INKEL and fresh tenders shall be called for or the matter otherwise disposed off.
Performance Security Deposit shall be deducted at 2.5% from running bills.
In the event of termination or suspension of the contract, on account of default on the part of the contractor, as narrated hereinbefore, the Performance Security Deposit and other dues of this work or any other work done under this Employer shall be forfeited and brought under the absolute disposal of the Employer provided, that the amount so forfeited shall not exceed 10% of the contract value.
The Performance Security Deposit / Bank Guarantee shall not carry any interest.

More Definitions of Performance Security Deposit

Performance Security Deposit has the meaning set forth in Section 8.2 (a).

Performance Security Deposit means a deposit (in the form of cash and/or bank guarantee) towards faithful performance by the successful bidders towards the contractual obligations.

Performance Security Deposit means the unconditional bank guarantee in an amount equal to US$ 4.5 Million, calculated on the basis of (a) eighteen thousand Dollars (US$ 18,000.00) multiplied by (b) the Contracted Capacity, issued by a scheduled bank in Bangladesh or by a foreign bank which has been authenticated by a scheduled bank in Bangladesh and shall by its terms be encashable at a bank in Dhaka, Bangladesh, provided by the Company as security for the Company’s obligations hereunder, including its obligations to deliver the Operations Security Deposit and to pay liquidated damages hereunder;

Performance Security Deposit has the meaning set forth in Section 8.3(b); “PGCB’’ means Power Grid Company of Bangladesh;

Performance Security Deposit means - the Security amount to be remitted as Bank Guarantee by the Contractor for Guaranteed performance of the Contract along with the respective Contract agreement and it shall be an amount equal to 10% of total contract amount. This Bank Guarantee should be valid till the end of Operation and Maintenance period. The Bank Guarantee will be released in equal installments at the end of every year along with the Operation and Maintenance charges. The Bank Guarantee submitted by the contractor will be rounded off to the higher multiple of Rs 1000.

Performance Security Deposit means the performance security deposit described in Section 4.9 that is and Acceptable Form of Security and that is required to be provided by Seller to Buyer.

Performance Security Deposit means the unconditional and irrevocable bank guarantee in an amount equal to USD 0.5 (Zero point five) million issued by a scheduled bank in Bangladesh or by a foreign bank which has been authenticated by a scheduled bank in Bangladesh and shall by its terms be encashable at a bank in Dhaka, Bangladesh, provided by the Company as security for the Company’s obligations under the PPA, including its obligations to achieve financial closing by no later than the Required Financial Closing Date, deliver the Operations Security Deposit and to pay liquidated damages to there under.“PGCB” means the Power Grid Company of Bangladesh Ltd. and its successors or assigns;