Completion and Performance Security definition

Completion and Performance Security has the meaning ascribed to it in Section 6.1(a). “Confidential Information” means:
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Completion and Performance Security has the meaning ascribed to it in Section 5.1.
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Completion and Performance Security has the meaning given to it in Section 10.1(a);
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Examples of Completion and Performance Security in a sentence

  • The Supplier shall be required to provide to and maintain with the Sponsor additional Completion and Performance Security in the amount of the Incremental NTP Security pursuant to Section 2.4(h).

  • The Supplier fails to make any payment when due or deliver, and/or maintain, the Completion and Performance Security as required under this Agreement, if such failure is not remedied within 10 Business Days after written notice of such failure from the Sponsor.

  • Where the Supplier has so terminated this Agreement, the Sponsor shall return any Completion and Performance Security it holds within 20 Business Days following receipt of a written request from the Supplier.

  • Subject to Section 1.4 of Exhibit B, any such reduction in Contract Capacity shall only affect the amount of Completion and Performance Security that is required to be provided to the Sponsor after the date of the request for such reduction and, for clarity, shall not result in any change to the Contract Price.

  • The Supplier shall deliver to the Sponsor the additional amount of Completion and Performance Security identified as the “ Incremental NTP Security” in Exhibit A within 30 days of receiving Notice to Proceed.

  • For greater certainty, where the Municipal Participation Level or Public Sector Entity Participation Level increases from below or equal to 50% to greater than 50%, there shall be no reduction in the amount of Completion and Performance Security already provided to the Sponsor.

  • A Supplier may from time to time consolidate any separate amounts of Completion and Performance Security held by the Sponsor by providing to the Sponsor replacement Completion and Performance Security in the cumulative amount of Completion and Performance Security outstanding, in which case the Sponsor shall return or refund (as applicable) the existing Completion and Performance Security in accordance with this Section 5.4(c).

  • At any time the Sponsor holds a letter of credit as Completion and Performance Security, the Supplier shall ensure that such letter of credit does not expire or terminate for any reason prior to a date that is 60 days from such time.

  • If existing Completion and Performance Security in the form of a certified cheque or bank draft has been paid to the Sponsor and the Supplier provides new Completion and Performance Security to the Sponsor in the form of a letter of credit, the Sponsor shall pay to the Supplier within 15 Business Days the amount of Completion and Performance Security that had been previously paid to the Sponsor in the form of a certified cheque or bank draft.

  • For greater certainty, where the Community Participation Level increases from below or equal to 50% to greater than 50%, there shall be no reduction in the amount of Completion and Performance Security already provided to the Sponsor.


More Definitions of Completion and Performance Security

Completion and Performance Security means the financial security for the performance of the Supplier’s obligations under the FIT Contract that the Supplier must provide to and maintain with the Sponsor in accordance with Article 5 of the FIT Contract and which includes each of
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Completion and Performance Security has the meaning given to it in Section 2.7.
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Completion and Performance Security has the meaning set forth in Section 10.1 of this Agreement.
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Completion and Performance Security means the financial security for the performance of the Supplier’s obligations under the FIT Contract that the Supplier must provide to and maintain with the OPA in accordance with Article 5 of the FIT Contract and which includes each of (i) the Initial Security, (ii) the Incremental NTP Security, (iii) the First Period Future Performance Security, and (iv) the Second Period Future Performance Security.
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Related to Completion and Performance Security

  • Additional Performance Security means the Bank Guarantee to be submitted by Successful Bidder in accordance with Clause 8.7 of this RFP Document

  • Interest Free Security Deposit/ Performance Security means interest free amount to be deposited by the Licensee with NMRC as per terms and conditions of License Agreement as a security against the performance of the License Agreement.

  • Performance Security means monetary guarantee to be furnished by the successful Tenderer for due performance of the contract placed on it. Performance Security is also known as Security Deposit or Performance Bank Guarantee.

  • Completion Guaranty means the Completion Guaranty of even date herewith executed by Guarantor in favor of Lender in connection with the Capital Improvement Work and the Loan, as amended from time to time.

  • Index Performance means, in relation to an Index and an Auto-Call Valuation Date or the Valuation Date, as the case may be, a percentage calculated by the Calculation Agent in respect of such date in accordance with the following formula: Index Performance =Final Index Level × 100% Initial Index Level

  • Underlying Performance means in relation to the Valuation Date a decimal number calculated by applying the following formula: UP =Underlying FINAL Underlying INITIAL where: UP = Underlying Performance with respect to the Valuation Date UnderlyingFINAL UnderlyingINITIAL= Reference Price of the Underlying with respect to the Valuation Date = Initial Price of the Underlying

  • Guaranteed asset protection waiver means that term as defined in section 3 of the guaranteed asset protection waiver act.

  • Discharge of Senior Obligations means the date on which the Discharge of Credit Agreement Obligations and the Discharge of each Additional Senior Debt Facility has occurred.

  • Basket Performance means a decimal number calculated by applying the following formula: BP = ∑ W ×iX ⎛⎜⎜i=1 ⎝ Underlyingi,FINAL ⎞⎟⎠Underlyingi,INITIAL ⎟ where: BP = Basket Performance X = 8 Wi = Weighting of the relevant Underlying Underlying i,FINAL Underlying i,INITIAL= Arithmetic mean of the Reference Prices of the relevant Underlying with respect to all Averaging Dates = Initial Price of the relevant Underlying

  • human performance means human capabilities and limitations which have an impact on the safety and efficiency of aeronautical operations;

  • Guaranteed Liabilities means: (a) the Company’s prompt payment in full, when due or declared due and at all such times, of all Obligations and all other amounts pursuant to the terms of the Revolving Credit Agreement, the Notes, and all other Loan Documents heretofore, now or at any time or times hereafter owing, arising, due or payable from the Company to any one or more of the Revolving Secured Parties, including principal, interest, premiums and fees (including, but not limited to, loan fees and reasonable fees, charges and disbursements of counsel (“Attorney Costs”)); (b) each Loan Party’s prompt, full and faithful performance, observance and discharge of each and every agreement, undertaking, covenant and provision to be performed, observed or discharged by such Loan Party under the Revolving Credit Agreement, the Notes and all other Loan Documents; and (c) the prompt payment in full by each Loan Party, when due or declared due and at all such times, of obligations and liabilities now or hereafter arising under Related Swap Contracts and Secured Cash Management Arrangements; provided, however, that the “Guaranteed Liabilities” shall exclude any Excluded Swap Obligations. The Guarantors’ obligations to the Revolving Secured Parties under this Guaranty Agreement are hereinafter collectively referred to as the “Guarantors’ Obligations” and, with respect to each Guarantor individually, the “Guarantor’s Obligations”. Notwithstanding the foregoing, the liability of each Guarantor individually with respect to its Guarantor’s Obligations shall be limited to an aggregate amount equal to the largest amount that would not render its obligations hereunder subject to avoidance under Section 548 of the United States Bankruptcy Code or any comparable provisions of any applicable state law. Each Guarantor agrees that it is jointly and severally, directly and primarily liable (subject to the limitation in the immediately preceding sentence) for the Guaranteed Liabilities. The Guarantors’ Obligations are secured by various Security Instruments referred to in the Revolving Credit Agreement, including without limitation, the Security Agreement and the Pledge Agreement.

  • Non-Guaranteed Elements means the premiums, credited interest rates (including any bonus), benefits, values, dividends, non-interest based credits, charges or elements of formulas used to determine any of these, that are subject to company discretion and are not guaranteed at issue. An element is considered non-guaranteed if any of the underlying non-guaranteed elements are used in its calculation.

  • energy performance contracting means a contractual arrangement between the beneficiary and the provider of an energy efficiency improvement measure, verified and monitored during the whole term of the contract, where investments (work, supply or service) in that measure are paid for in relation to a contractually agreed level of energy efficiency improvement or other agreed energy performance criterion, such as financial savings;

  • Guaranteed elements means the premiums, credited interest rates (including any bonus), benefits, values, non-interest-based credits, charges, or elements of formulas used to determine any of these elements, that are guaranteed and determined at issue. An element is considered guaranteed if all of the underlying elements that go into its calculation are guaranteed.

  • Energy Performance Score means the numeric rating generated by Portfolio Manager that compares the Energy usage of the building to that of similar buildings.

  • Guaranteed Cash Management Agreement means any Cash Management Agreement that is entered into by and between any Loan Party and any Cash Management Bank.

  • Environmental Performance means all or any of the following: the consumption of energy and associated generation of greenhouse gas emissions; the consumption of water; waste generation and management; and any other environmental impact arising from the use or operation of the Premises or the Estate;

  • Performance and Guarantee Test means all operational checks and tests required to determine and demonstrate capacity, efficiency and operating characteristics as specified in the Contract Documents.

  • Eligible Guarantee means an unconditional and irrevocable guarantee that is provided by a guarantor as principal debtor rather than surety and is directly enforceable by Party B, where either (A) a law firm has given a legal opinion confirming that none of the guarantor’s payments to Party B under such guarantee will be subject to withholding for Tax or (B) such guarantee provides that, in the event that any of such guarantor’s payments to Party B are subject to withholding for Tax, such guarantor is required to pay such additional amount as is necessary to ensure that the net amount actually received by Party B (free and clear of any withholding tax) will equal the full amount Party B would have received had no such withholding been required.

  • Performance and Guarantee Tests , shall mean all operational checks and tests required to determine and demonstrate capacity, efficiency, and operating characteristics as specified in the Contract Documents.

  • Capacity Performance Resource means a Capacity Resource as described in Tariff, Attachment DD, section 5.5A(a).

  • Guaranteed loan means the loan in the original principal amount specified in Clause 4 of the Special Conditions made by the Guarantee Holder to the State-Owned Enterprise under the Loan Agreement and denominated in Guarantee Currency or, where the context may require, the amount thereof from time to time outstanding, the proceeds of which shall be applied to the Investment Project.

  • Guaranteed Substantial Completion Date or “Guaranteed Substantial Completion Dates” has the meaning set forth in Section 5.3B.

  • Guaranty and Collateral Agreement means the Guaranty and Collateral Agreement dated as of the date hereof executed and delivered by the Loan Parties, together with any joinders thereto and any other guaranty and collateral agreement executed by a Loan Party, in each case in form and substance satisfactory to the Administrative Agent.

  • Performance Guarantee means the security to be provided by the Contractor in accordance with Sub Clause 10.1 for the due performance of the Contract.

  • Nonguaranteed elements means the premiums, credited interest rates (including any bonus), benefits, values, non-interest-based credits, charges or elements of formulas used to determine any of these elements, that are subject to company discretion and are not guaranteed at issue. An element is considered nonguaranteed if any of the underlying nonguaranteed elements are used in its calculation.