Common use of Return of Contract Performance Guarantee Clause in Contracts

Return of Contract Performance Guarantee. 3.8.1 The Procurer(s) shall return / release the Contract Performance Guarantee in the event of (i) applicability of Article 3.

Return of Contract Performance Guarantee. 3.8.1 The Procurer(s) Procurer shall return / release the Contract Performance Guarantee in the event of of (i) applicability of Article 3.4.2 to the extent the Contract Performance Guarantee is valid for an amount in excess of Rupees ………………… ( ) [Insert amount not less than that derived on the basis of 40.00 lakhs per MW of the Contracted Capacity], or (ii) termination of this Agreement by any Party under Article 33.4.3, 3.4.4 or Article 3.4.5 of this Agreement.