TIRUPATI URBAN DEVELOPMENT AUTHORITY - TIRUPATHI ...

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Tirupathi Urban Development Authority awarded the Project we shall perform our role as outlined in the Bid to the best of our abilities. We have examined the Bid in detail and the commitments made in the same. We agree and undertake to abide by the Bid and the commitments made therein. 3. We authorise ____________________ (name of the Lead Consortium Member), as the Lead Consortium Member and authorise the same to perform all tasks including, but not limited to providing information, responding to enquiries, entering into contractual commitments etc. on behalf of the consortium, in respect of this Project. 4. We understand that, no change in the membership in the Bidding Consortium, in the role and form of responsibility of any Consortium Member shall be permitted after submission of the Bid upto the end of 3 (three) years after execution of the Development Agreement. If any change in the membership of the Consortium is desired, it would need to be communicated to TUDA in writing for its approval. TUDA would reserve the right to reject such requests for a change of consortium structure, if in its opinion; it would adversely affect the same. For and on behalf of : Signature : Name of the Person : Designation : (Authorised Representative and Signatory) Each Consortium Member will have to attach its Board Resolution/ Undertaking as the case may be, approving the participation in the consortium, bidding for the Project and authorizing a company official/ Lead Member to sign the bidding documents. Request For Proposal Development of Integrated Tourism Temple Township on Public Private Partnership Basis 45
Tirupathi Urban Development Authority EXHIBIT 5 PROFORMA OF BANK GUARANTEE FOR BID SECURITY (To be executed on appropriate value of Non-Judicial Stamp Paper as per Stamp Act prevailing in the State of Andhra Pradesh) 1. In consideration of the Tirupati Urban Development Authority (hereinafter called “TUDA” which expression shall include any entity which TUDA may designate for the purpose) having agreed, interalia, to consider the bid of __________ (hereinafter referred to the “Bidder” which expression shall include their respective successors and assigns) which will be furnished in accordance with the terms of the Request for Proposal for Selection of a Private Developer for Integrated Tourism Temple Township Project at Tirupati in Andhra Pradesh (Tender No.____) (hereinafter called the “RFP”) in lieu of the Bidder being required to make a cash deposit, we ______________ [name of the Bank and address of the issuing branch], hereinafter called the “Bank” which expression shall include our successors and assigns, as to bind ourselves our successors and assigns do at the instance of the Bidder hereby unconditionally and irrevocably undertake to pay as primary obligor and not as surety only to TUDA without protest or demand and without any proof or condition the sum of Rs. 18 crores (Rupees Eighteen Crores Only). 2. We, the Bank, do hereby unconditionally and irrevocably undertake to pay forthwith (and in any event within five days) the amounts due and payable under this Guarantee without any delay or demur merely on a written demand from TUDA stating that the amount claimed is due by reason of the occurrence of any of the events referred to in the RFP. Any such demand made on the Bank by TUDA shall be conclusive as regards the amount due and payable by the Bank under this Guarantee. However, the Bank’s liability under ‘this Guarantee shall be restricted to an amount not exceeding Rs. 18 crores (Rupees Eighteen Crores Only). 3. We, the Bank unconditionally undertake to pay to TUDA any money so demanded under this Guarantee notwithstanding any dispute or disputes raised by the Bidder or any other party including in any suit or proceeding pending before any court or tribunal relating thereto or any instructions or purported instructions by the Bidder or any other party to the Bank not to pay or for any cause to withhold or defer payment to TUDA under this Guarantee. The Bank’s liability under this Guarantee is irrevocable, unconditional, absolute and unequivocal. The payment so made by the Bank under this Guarantee shall be a valid discharge of the bank’s liability for payment hereunder and the Bidder shall have no claim against the Bank for making such payment. 4. We, the Bank further agree that the Guarantee herein contained shall remain in full force and effect upto and until 1700 hours on the date which falls 60 days beyond the Bid Validity Period i.e. _________ (hereinafter called “the End Date”). Unless a demand or claim under this Guarantee is made on the Bank by TUDA in writing on or before the said End Date the Bank shall be discharged from all liability under this Guarantee thereafter. Request For Proposal Development of Integrated Tourism Temple Township on Public Private Partnership Basis 46
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Page 3 and 4: TABLE OF CONTENTS GLOBAL INVITATION
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