Common use of References to Performance Security Clause in Contracts

References to Performance Security. References to Performance Security or Performance Security-Utility occurring in this Agreement for and in respect of any period prior to the delivery of the Performance Security by one party to the other, or in respect of any period subsequent to the expiry or release thereof, as the case may be, shall be construed solely for the purposes of calculating the amount of Damages payable by the parties. Provided that in case of Damages payable by the Suppliers determined shall be appropriated from the Bid Security prior to the submission of the Performance Security.

References to Performance Security. References to Performance Security or Performance Security-Utility Security- GRIDCO occurring in this Agreement for and in respect of any period prior to the delivery of the Performance Security by one party to the other, or in respect of any period subsequent to the expiry or release thereof, as the case may be, shall be construed solely for the purposes of calculating the amount of Damages payable by the parties. Provided that in case of Damages payable by the Suppliers Supplier so determined shall be appropriated from the Bid Security prior to the submission of the Performance Security.

References to Performance Security. ‌ References to Performance Security or Performance Security-Utility occurring in this Agreement for and in respect of any period prior to the delivery of the Performance Security by one party to the other, or in respect of any period subsequent to the expiry or release thereof, as the case may be, shall be construed solely for the purposes of calculating the amount of Damages payable by the parties. Provided that in case of Damages payable by the Suppliers determined shall be appropriated from the Bid Security prior to the submission of the Performance Security.