VALIDITY OF PERFORMANCE SECURITY Sample Clauses

VALIDITY OF PERFORMANCE SECURITY. The Performance Security shall be valid until a date 28 days after the date of issue of the Defects Liability Certificate. The security shall be returned to the Contractor within 14 days of expiration. Add The Resident Engineer shall provide a 28days Notice to the Contractor informing him of the early expiry of his Performance Security. Upon receipt of such a Notice the Contractor shall before lapse of 14days extend the Performance security and provide evidence of such an extension to the Resident Engineer. Failure by the contractor to renew his performance Security 7days to its expiry the resident Engineer will Request the Engineer to redeem it. Such a request shall be handled immediately and the performance security recovered. SUB CLAUSE 10. 3 - CLAIMS UNDER PERFORMANCE SECURITY Delete the entire sub-clause 10.3. The Employer shall be at liberty to claim part or the entire performance Security without informing or notifying the Contractor provided that the conditions neccesitating the claim are contractual. ADD NEW SUBCLAUSE; ‘SUBCLAUSE 10. 4 - COST OF PERFORMANCE SECURITY The cost of complying with the requirements of this clause shall be borne by the Contractor.’ SUB CLAUSE 11. 1 - INSPECTION OF SITE In line 17 after “affect his Tender” add “and the Contractor shall be deemed to have based his BID on all the aforementioned” Delete the last paragraph completely and replace with the following: “The Employer in no way guarantees completeness nor accuracy of the soil, materials, subsurface and hydrological information made available to the Contractor at the time of bidding or at any other time during the period of the Contract, and the Contractor shall be responsible for ascertaining for himself all information as aforesaid for the execution of works and his BID shall be deemed to have been priced accordingly. ADD A NEW SUBCLAUSE; ‘SUBCLAUSE 11.2 - ACCESS TO DATA Data made available by the Employer in accordance with Clause 11.1 shall be deemed to include data listed elsewhere in the Contract as open for inspection at the address stipulated in the Appendix to Bid.’
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VALIDITY OF PERFORMANCE SECURITY. The Performance Security shall be valid until a date 28 days after the date of issue of the Defects Liability Certificate. The security shall be returned to the Contractor within 14 days of expiration. SUBCLAUSE 10. 3 - CLAIMS UNDER PERFORMANCE SECURITY Delete the entire sub-clause 10.3.
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VALIDITY OF PERFORMANCE SECURITY. 9.2.2.1 The Performance Security shall remain in full force and effect fromthe dateof its issuance until the expiration of sixty (60) Business Days following the End Date.
Sample 1
VALIDITY OF PERFORMANCE SECURITY. ‌ The Operator shall provide the Performance Security initially for a period of 5 (five) years; provided that it shall procure a new Performance Security or extend the validity of the Existing Performance Security, in accordance with 9.1.2 and 9.1.3 of this Agreement, at least 2 (two) months prior to the date of expiry thereof. Upon the Operator providing the New Performance Security or an extension to the existing Performance Security, the previous Performance Security shall be released and the Authority shall return the same to the Operator within a period of 7 (seven) business days from the date of submission of the New Performance Security.
Sample 1
VALIDITY OF PERFORMANCE SECURITY. The Performance Security shall be valid until a date 28 days after the date of issue of the Defects Liability Certificate. The security shall be returned to the Contractor within 14 days of expiration. Add The Resident Engineer shall provide a 28days Notice to the Contractor informing him of the early expiry of his Performance Security. Upon receipt of such a Notice the Contractor shall before lapse of 14days extend the Performance security and provide evidence of such an extension to the Resident Engineer. Failure by the contractor to renew his performance Security 7days to its expiry the resident Engineer will Request the Engineer to redeem it. Such a request shall be handled immediately and the performance security recovered.
Sample 1

Related to VALIDITY OF PERFORMANCE SECURITY

  • Release of Performance Security (i) The Authority shall return the Performance Security to the Contractor within 60 (sixty) days of the expiry of the Maintenance Period or the Defects Liability Period, whichever is later, under this Agreement. Notwithstanding the aforesaid, the Parties agree that the Authority shall not be obliged to release the Performance Security until all Defects identified during the Defects Liability Period have been rectified.

  • Appropriation of Performance Security Upon occurrence of a Concessionaire Default, the Authority shall, without prejudice to its other rights and remedies hereunder or in law, be entitled to invoke, encash and appropriate the relevant amounts from the Performance Security as Damages for such Concessionaire Default. Upon such invocation, encashment and appropriation from the Performance Security, the Concessionaire shall, within [30 (thirty)] days thereof, replenish, in case of partial appropriation, to its original level the Performance Security, and in case of appropriation of the entire Performance Security provide a fresh Performance Security, as the case may be, and the Concessionaire shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate this Agreement in accordance with Article 37. Upon replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Concessionaire shall be entitled to an additional Cure Period of [90 (ninety)] days for remedying the Concessionaire Default, and in the event of the Concessionaire not curing its default within such Cure Period, the Authority shall be entitled to invoke, encash and appropriate such Performance Security as Damages, and to terminate this Agreement in accordance with Article 37.

  • Availability of Performance Order If, and to the extent that, a breach of this contract has been caused by a Relevant Force Majeure Event, the Non-affected Party shall not be entitled to a Performance Order except to secure performance by the Affected Party of its obligations under this Clause 17.

  • Assessment of Performance The assignment of a teacher to a TLS position will be subject to review by the school district’s administration at least annually. The first review must be completed no later than five (5) work days before the beginning of the transfer process. The review shall include peer feedback on the effectiveness of the teacher’s performance of duty specific to the teacher’s TLS position. A teacher who completes an assignment in a TLS position may apply for assignment to a new TLS position.

  • Evaluation of Performance School, in conjunction with Company personnel, is responsible for and shall make arrangements for evaluating Student’s performance during the clinical program.

  • Impossibility of Performance The credit union will not be liable for failure to comply with the terms of a wire transfer agreement caused by legal constraint interruption or failure of transmission and/or communications facilities, war, emergency, labor dispute, act of nature, or other circumstances beyond the control of the credit union.

  • Suspension of Performance Notwithstanding any other provision hereof, if an Event of Default or a Potential Event of Default has occurred and is continuing, the Non-Defaulting Party, upon written notice to the Defaulting Party, has the right (i) to suspend performance under any or all Transactions and (ii) to the extent an Event of Default has occurred and is continuing, to exercise any remedy available at law or in equity, except as limited be Section 5.7.

  • Continuity of Performance In the event of a dispute between the Party and the State, each party will continue to perform its obligations under this Agreement during the resolution of the dispute until this Agreement is terminated in accordance with its terms.

  • Monitoring of Performance Vendor shall continuously monitor and record its performance to ensure that all of Vendor's responsibilities and obligations hereunder are being met and fulfilled. Citizens may conduct programmatic and other administrative contract monitoring during the term of this Agreement. The purpose of this monitoring is to ensure that all of Vendor's responsibilities and obligations are being met and fulfilled. Such monitoring may include on-site visits, report reviews, invoice reviews, compliance reviews, and a review of any other areas reasonably necessary. Vendor acknowledges and agrees that Citizens may also monitor and record Vendor Staff communications to the extent they occur within or are connected to any Citizens’ resource, such as electronic or telecommunications systems.

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