Common use of Additional Performance Security Clause in Contracts

Additional Performance Security. (a) In the event of the Selected Bidder having submitted Additional Performance Security in accordance with the Clause 16.5 of the RFP document, then such Additional Performance Security shall be in force till the end of Construction period if the Bid Project Cost is found to be unbalanced or frontloaded, and till the end of the Concession Period if O&M Charges are found to be unbalanced or frontloaded. Notwithstanding anything contained herein, the Additional Performance Security shall be liable to be forfeited either fully or partially by the Executive agency as it deems fit for the reasons mentioned in Clause 16.1 of the Concession agreement. The Additional Performance Security for the unbalanced or frontloaded, Bid Project cost shall be returned 30 days after COD and the Additional Performance Security for O&M Charges shall be returned at the end of Concession Period. (b) Change in Ownership in accordance with Clause 12 of the Concession Agreement shall be subject to the fulfillment of the requirements of Additional Performance Security as per the clause 5.22(a) above, by the incoming Consortium Partner/Single Entity.

Additional Performance Security. (a) In the event of the Selected Bidder having submitted Additional Performance Security in accordance with the Clause 16.5 of the RFP document, then such Additional Performance Security shall be in force till the end of Construction period if the Bid Project Cost is found to be unbalanced or frontloaded, unreasonable and till the end End of the Concession Period if O&M O & M Charges are found to be unbalanced or frontloadedunreasonable. Notwithstanding to anything contained herein, the Additional Performance Security shall be liable to be forfeited either fully or partially by the Executive agency BUIDCO as it deems fit for the reasons mentioned in Clause 16.1 of the Concession agreement. The Additional Performance Security for the unbalanced or frontloaded, unreasonable Bid Project cost Cost shall be returned 30 days after later COD and the Additional Performance Security for O&M O & M Charges shall be returned at the end End of Concession PeriodConcession. (b) Change in Ownership in accordance with Clause 12 of the Concession Agreement shall be subject to the fulfillment of the requirements of Additional Performance Security as per the clause 5.22(a) above, by the incoming Consortium Partner/Single Entity.

Additional Performance Security. (a) In the event of the Selected Bidder having submitted Additional Performance Security in accordance with the Clause 16.5 of the RFP document, then such Additional Performance Security shall be in force till the end of Construction period if the Bid Project Cost is found to be unbalanced or frontloaded, frontloaded bid and till the end of the Concession Period if O&M Charges are found to be unbalanced or frontloadedunreasonable. Notwithstanding to anything contained herein, the Additional Performance Security shall be liable to be forfeited either fully or partially by the Executive agency KMC as it deems fit for the reasons mentioned in Clause 16.1 of the Concession agreement. The Additional Performance Security for the unbalanced or frontloaded, frontloaded Bid Project cost shall be returned 30 days after COD COD, and the Additional Performance Security for O&M O & M Charges shall be returned at the end of Concession Period. (b) Change in Ownership in accordance with Clause 12 of the Concession Agreement shall be subject to the fulfillment of the requirements of Additional Performance Security as per the clause 5.22(a) above, by the incoming Consortium Partner/Single Entity.