be paid to the Contractor at the same time as the Principal would have been required to return the security from which the proceeds were obtained. Additional Security If, at any time during the Term, the value of the Unconditional Undertakings provided under clause 5.1 represents less than 10% of the combined value of the Contract Prices (as adjusted) for each Contract formed under this Deed (Combined then the Principal may direct the Contractor to provide additional Contract Value), security so that the amount of the security held by it is equal to 10% of the Combined Contract Value. The Contractor must provide additional security in the form of an Unconditional Undertaking within 10 Business Days of a direction under clause 5.4(a). Interest The Principal: is not obliged to pay the Contractor interest on any Unconditional Undertaking provided under clause 5.1 including the proceeds of any bank guarantee if it is converted into cash; and does not hold the proceeds or money referred to in paragraph (a) on trust for the Contractor. Indexation and Review of Rates If specified in the Key Details for Standing Offer Deed, the rates and prices in the Schedule of Prices will be adjusted by the method of indexation or adjustment (if any) set out in Part 2 of the Schedule of Prices. Other requirements KPIs The Contractor in performing the Contractor's Activities must comply with the KPIs as amended in accordance with this Deed. The Contractor must report to the Principal's Representative at the frequency specified in the Key Details for Standing Offer Deed in the form of a report (KPI Performance Report) in a form satisfactory to the Principal which: provides an analysis of the performance of the Contractor in meeting the KPIs; identifies any non-compliances; proposes an action plan to remedy non-compliances and implement continuous improvements; and reports on whether the Contractor has implemented any previous action plan and, if not, the extent of non-compliance. The Contractor acknowledges and agrees that: the Principal will review each KPI Performance Report to assess the level of compliance by the Contractor with the KPIs;
be paid to the Contractor at the same time as the Principal would have been required to return the security from which the proceeds were obtained. Additional Security If, at any time during the Term, the value of the Unconditional Undertakings provided under clause 5.1 represents less than 10% of the combined value of the Contract Prices (as adjusted) for each Contract formed under this Deed (Combined Contract Value), then the Principal may direct the Contractor to provide additional security so that the amount of the security held by it is equal to 10% of the Combined Contract Value. The Contractor must provide additional security in the form of an Unconditional Undertaking within 10 Business Days of a direction under clause 5.4(a). Interest The Principal: is not obliged to pay the Contractor interest on any Unconditional Undertaking provided under clause 5.1 including the proceeds of any bank guarantee if it is converted into cash; and does not hold the proceeds or money referred to in paragraph (a) on trust for the Contractor. Indexation and Review of Rates If specified in the Key Details for Standing Offer Deed, the rates and prices in the Schedule of Prices will be adjusted by the method of indexation or adjustment (if any) set out in Part 2 of the Schedule of Prices. Other requirements KPIs The Contractor in performing the Contractor's Activities must comply with the KPIs as amended in accordance with this Deed. The Contractor must report to the Principal's Representative at the frequency specified in the Key Details for Standing Offer Deed in the form of a report (KPI Performance Report) in a form satisfactory to the Principal which: provides an analysis of the performance of the Contractor in meeting the KPIs; identifies any non-compliances; proposes an action plan to remedy non-compliances and implement continuous improvements; and reports on whether the Contractor has implemented any previous action plan and, if not, the extent of non-compliance. The Contractor acknowledges and agrees that: the Principal will review each KPI Performance Report to assess the level of compliance by the Contractor with the KPIs;