PERFORMANCE SECURITY AND PROJECT DEVELOPMENT FEE Sample Clauses

PERFORMANCE SECURITY AND PROJECT DEVELOPMENT FEE. 9.1 Construction Performance Bond (a) To secure the performance of the Concessionaire's obligations to fulfil the Concessionaire Conditions Precedent, the Concessionaire's obligations under this Agreement during the Construction Period and to secure the Concessionaire's obligations under Clause 10, Clause 12.1, Clause 13.10 and Clause 13.11 and the Concessionaire's liability for liquidated damages under Clause , the Concessionaire shall deliver to the Authority an unconditional and irrevocable bank guarantee in favour of the Authority, in the form set out in Part 3 of Schedule 11 (Payment), in the sum of INR one hundred crores (INR 100,00,00,000) (the Construction Performance Bond ). (b) The Construction Performance Bond shall: (i) be issued by a bank licensed to do business in India that has a credit rating of at least A1 by ▇▇▇▇▇'▇ or A+ by S&P or any equivalent Indian rating, is acceptable to the Authority and confirmed for payment in Thiruvananthapuram; (ii) be submitted to the Authority as a Concessionaire Condition Precedent, if it has not already been submitted within ninety (90) days of the date of issuance of the Letter of Award to the Consortium Members. The Bid Security shall remain in full force and effect, until the submission of a valid and effective Construction Performance Bond to the Authority; and (iii) either have a validity period from the date of presentation to the Authority until the date that is six (6) months from the Commercial Operation Date or be replaced at intervals to ensure that such bank guarantee is in force for such validity period. (c) Upon the occurrence of any of the events listed at Clause 3.4, Clause 10 or Clause 12.1 or upon the levy of liquidated damages on the Concessionaire in accordance with Clause 13.10, the Authority shall, without prejudice to its other rights and remedies under this Agreement, be entitled to invoke and appropriate the Construction Performance Bond for the amount of loss incurred by the Authority as a result of such default.
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Related to PERFORMANCE SECURITY AND PROJECT DEVELOPMENT FEE

  • Information Systems Acquisition Development and Maintenance a. Client Data – Client Data will only be used by State Street for the purposes specified in this Agreement.

  • Project Development a. Collaborate with COUNTY and project clients to identify requirements and develop a project Scope Statement. a. Develop a Work Breakdown Structure (WBS) for each project. b. Evaluate Scope Statement to develop a preliminary cost estimate and determinate whether project be vendor bid or be executed under a Job Order Contract (JOC).

  • Performance Improvement Plan timely and accurate completion of key actions due within the reporting period 100 percent The Supplier will design and develop an improvement plan and agree milestones and deliverables with the Authority 3.2 The Authority may from time to time make changes to the KPIs measured as set out in paragraph 3.1 above and shall issue a replacement version to the Supplier. The Authority shall give notice In Writing of any such change to the KPIs measured and shall specify the date from which the replacement KPIs must be used for future reports. Such date shall be at least thirty (30) calendar days following the date of the notice to the Supplier.

  • Development Fee A fee for the packaging of a Property or Mortgage, including the negotiation and approval of plans, and any assistance in obtaining zoning and necessary variances and financing for a specific Property, either initially or at a later date.

  • Supplier Development lf the Buyer identifies problems in supplier performance based on supplier monitoring, he shall initiate improvement measures at the Supplier. The Buyer shall pursue the possibilities of continuous improvement of the Supplier. The supplier audit is a form of supplier development; the exchange of information and experience between the Buyer and the Supplier also serves this purpose.