Common use of References to Performance Security Clause in Contracts

References to Performance Security. References to Performance Security occurring in this Agreement for and in respect of any period prior to the delivery of the Performance Security by the Implementation Agency to the Authority, or in respect of any period subsequent to the expiry or release thereof, as the case may be, shall be £ 5% of the estimated Total Project Cost set forth in the Detailed Project Report construed solely for the purposes of calculating the amount of Damages payable by the Implementation Agency, and the amount so determined shall be appropriated from the Performance Security.