Security Deposit/ Performance Security definition

Security Deposit/ Performance Security means interest free amount to be deposited by the Licensee with Maha-Metro as per terms and conditions of License Agreement as a security against the performance of the License agreement.
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Security Deposit/ Performance Security means interest free amount to be deposited by the Licensee with Maha-Metro as a security against the performance of the License agreement and as set forth in Article 13 of this License Agreement.
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Examples of Security Deposit/ Performance Security in a sentence

  • DMRC may also recover the balance outstanding dues, if are more than Interest Free Security Deposit/ Performance Security, from the other contracts of licensee in DMRC.

  • Balance outstanding dues, if are more than Interest Free Security Deposit/ Performance Security, shall also be recoverable from the licensee before licensee is permitted to remove their establishment(s) or else DMRC will seize their property treating at zero/nil value.

  • The ▇▇▇▇▇▇▇ Money/Bid Security deposited may be adjusted against the Security Deposit (Performance Security) at Bidder’s option.

  • In such a case, balance Interest Free Security Deposit/ Performance Security of the Licensee shall be refunded after adjusting the outstanding dues, if any, payable on the part of Licensee.

  • In such a case, the balance Interest Free Security Deposit/ Performance Security shall be forfeited in favour of DMRC after adjustment of outstanding dues, if any, payable to DMRC.

  • In such cases, the Interest Free Security Deposit/ Performance Security shall be refunded to the Licensee after adjustment of license fee for period shorter than 180 days (notice period) and outstanding dues, if any.

  • DMRC may also recover the balance outstanding dues, if are more than Interest Free Security Deposit/ Performance Security from the other contracts of licensee in DMRC.

  • Balance outstanding dues, if are more than Interest Free Security Deposit/ Performance Security, shall also be recoverable from the licensee before licensee is permitted to remove their establishment(s) or else DMRC will seize their property at zero/nil value.

  • The Security Deposit /Performance Security shall not carry any interest.

  • If Licensee satisfies the above said conditions, DMRC shall terminate the Agreement and refund interest free Security Deposit/ Performance Security after adjusting any outstanding amount on the part of Licensee.