Release of Performance Guarantee. The Concessionaire shall keep the Performance Guarantee in full force and effect for a period of one year from expiry of validity period as stated clause 4.1 above (the “Performance Guarantee Claim Period”); provided, however, that the Performance Guarantee shall not be released if the Concessionaire is in breach of this Agreement. Upon request made by the Concessionaire for release of the Performance Guarantee along with the particulars which establish satisfaction of the requirements specified in this Article 4.3 and subject to the creation of Deemed Performance Guarantee in accordance with Article 4.4, the Authority shall release the Performance Guarantee forthwith.
Appears in 2 contracts
Sources: Concession Agreement, Concession Agreement