Bank Guarantees. The "DEVELOPER" has given following Bank Guarantees before execution of this agreement. S. No. Particulars Amount Validity Period 1.
Bank Guarantees. 21.1 Performance Bank Guarantee: Performance Bank Guarantee (PBG) valid for two years from any scheduled bank in prescribed format as per Annexure-IV has to be submitted before signing of LICENCE AGREEMENT for amount equal to Rs. 2 crores/ 20 Lakh for (category ‘A’ & ‘B’ service areas).
Bank Guarantees. By agreement of the Lender and the Borrowers and pursuant to such supplemental documentation as the Lender may request, the Borrowers may utilize the L/C Commitment in the form of bank guarantees issued by the Lender as an alternative to utilizing it for the issuance of Letters of Credit.
Bank Guarantees. 6.1.1 The Facility may be utilised by way of Bank Guarantees.
Bank Guarantees. 19.1 There is no requirement of performance Bank Guarantee (PBG) by BSNL, as long as it is a 100% Government owned company.
Bank Guarantees. 22.1 The licensee shall submit a Financial Bank Guarantee (FBG), valid for one year, from any Scheduled Bank or Public Financial Institution duly authorized to issue such Bank Guarantee, in the prescribed Performa annexed. Initially, the financial bank guarantee shall be for an amount of Rs. 50, 25 & 5 Crore for category ‘A’ ‘B’ & ‘C’ service areas respectively which shall be submitted before signing the Licence agreement. Subsequently, the amount of FBG shall be equivalent to the estimated sum payable annually towards the Licence fee and other dues not otherwise securitised. The amount of FBG shall be subject to periodic review by the Licensor. The bidder shall also submit Performance Bank Guarantee (PBG) of amount equal to Rs. 20, 10 and 2 Crores for category ‘A’ ‘B’ & ‘C’ service areas before signing the Licence. The licensee shall be permitted to reduce the value of the PBG by 50% after the coverage criteria prescribed in this Licence is fulfilled.
Bank Guarantees. The Interim Revolving Facility shall also be available for utilisation by way of Bank Guarantees. The provisions of Schedule 9 (Bank Guarantees) shall form part of this Agreement and bind each Party.
Bank Guarantees. 4.6.1 Construction Performance Bank Guarantee (C-PBG)
Bank Guarantees. 21.1 Performance Bank Guarantee: Performance Bank Guarantee (PBG) in prescribed format shall be submitted for amount equal to Rs. 20 / 10 / 2 crores (for category ‘A’ / ‘B’ / ‘C’ service areas) before signing the Licence Agreement. Further on completion of one year from the effective date of licence and after meeting the coverage criteria stipulated for first year, the PBG shall be reduced to Rs. 10/5/1 crores for category `A’/`B’/`C’ service areas on self- certification provided by the Licensee. Further on fulfilling the roll out obligations as stipulated in Clause 34, the balance PBG shall be released on receipt of test certificate/ test certificates issued by TEC in respect of coverage.
