Construction Payment and Performance Bonds Sample Clauses

Construction Payment and Performance Bonds. As noted in Section 7.10 of this Agreement.
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Construction Payment and Performance Bonds. Before starting any construction or installation, LICENSEE shall furnish payment and performance bonds in an amount necessary to restore the Site and Licensed Area to its pre- installation condition in the event LICENSEE fails to complete the installation of the System in accordance with this SLA. The payment and performance bonds shall be required only through the Commercial Operation Date. The bond requirements are further specified in Exhibit L.‌
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Construction Payment and Performance Bonds. Prior to the commencement of the construction of any part of the Tenant’s Improvements, and at any time that Tenant undertakes any construction on the Demised Premises, Tenant shall obtain and deliver to Landlord, at no cost to Landlord, performance and payment bonds consistent with and pursuant to the requirements set forth in the Facility Lease.
Sample 1
Construction Payment and Performance Bonds. Prior to any commencement of any construction, alteration, or repair hereunder by Concessionaire which exceeds Twenty Thousand Dollars ($20,000.00) in cost, Concessionaire shall furnish to the Authority, at Concessionaire's sole cost, evidence of performance and payment bond issued by a surety company licensed to transact business in the State of North Carolina and approved by the Authority, in a form approved by the Authority, naming Concessionaire as Obligee and its contractor as Principal therein. The penal amount of each bond shall be one hundred percent (100%) of the total contract cost of the contract or contracts for the construction, alteration, or repair. The payment bond required by this Section shall guarantee the prompt payment to all persons supplying labor, materials, provisions, supplies, and equipment used directly or indirectly by any contractor, subcontractor(s), and suppliers doing work provided for in the above-mentioned construction contract, and the performance bond shall guarantee the full performance of the work.
Sample 1
Construction Payment and Performance Bonds. Prior to any commencement of any construction, alteration, or repair hereunder by Concessionaire that exceeds Ten Thousand Dollars ($10,000.00) in cost, Concessionaire shall furnish to the County, at Concessionaire’s sole cost, a performance bond and a payment bond issued by a surety Concessionaire licensed to transact business in the State of Wisconsin and approved by the County, in a form approved by the County. The penal amount of each bond shall not be less than one hundred percent (100%) of the total cost of the contract or contracts for the construction, alteration, or repair. In the event that such contract(s) involve alteration or work on or to the County’s facilities, the performance and payment bonds shall be posted regardless of the dollar value of the work. The payment bond required by this Section shall guarantee the prompt payment to all persons supplying labor, materials, provisions, supplies, and equipment used directly or indirectly by any contractor, subcontractor(s), and suppliers doing work provided for in the above‐mentioned construction contract, and the performance bond shall guarantee the full performance of the work.
Sample 1
Construction Payment and Performance Bonds. Prior to any commencement of any construction, alteration, or repair hereunder by Concessionaire that exceeds Ten Thousand Dollars ($10,000.00) in cost, Concessionaire shall furnish to the Authority, at Concessionaire’s sole cost, a performance bond and a payment bond issued by a surety company licensed to transact business in the State of Nebraska and approved by the Authority, in a form approved by the Authority. The penal amount of each bond shall not be less than one hundred percent (100%) of the total cost of the contract or contracts for the construction, alteration, or repair. In the event that such contract(s) involve alteration or work on or to the Authority's facilities, the performance and payment bonds shall be posted regardless of the dollar value of the work. The payment bond required by this Section shall guarantee the prompt payment to all persons supplying labor, materials, provisions, supplies, and equipment used directly or indirectly by any contractor, subcontractor(s), and suppliers doing work provided for in the above-mentioned construction contract, and the performance bond shall guarantee the full performance of the work.
Sample 1

Related to Construction Payment and Performance Bonds

  • Payment and Performance Bonds The Contractor shall comply with the following minimum bonding requirements:

  • Payment and Performance Bond Prior to the execution of this Contract, City may require Contractor to post a payment and performance bond (Bond). The Bond shall guarantee Contractor’s faithful performance of this Contract and assure payment to contractors, subcontractors, and to persons furnishing goods and/or services under this Contract.

  • Assignment and Performance Neither this Agreement nor any right or interest herein shall be assigned, transferred, or encumbered without the written consent of the other party. In addition, Contractor shall not subcontract any portion of the Work required by this Agreement, except as provided in the Schedule of Subcontractor Participation. City may terminate this Agreement, effective immediately, if there is any assignment, or attempted assignment, transfer, or encumbrance, by Contractor of this Agreement or any right or interest herein without City’s prior written consent. Contractor represents that each person who will render services pursuant to this Agreement is duly qualified to perform such services by all appropriate governmental authorities, where required, and that each such person is reasonably experienced and skilled in the area(s) for which he or she will render his or her services. Contractor shall perform Contractor’s duties, obligations, and services under this Agreement in a skillful and respectable manner. The quality of Contractor’s performance and all interim and final product(s) provided to or on behalf of City shall be comparable to the best local and national standards. In the event Contractor engages any subcontractor in the performance of this Agreement, Contractor shall ensure that all of Contractor’s subcontractors perform in accordance with the terms and conditions of this Agreement. Contractor shall be fully responsible for all of Contractor’s subcontractors’ performance, and liable for any of Contractor’s subcontractors’ non-performance and all of Contractor’s subcontractors’ acts and omissions. Contractor shall defend at Contractor’s expense, counsel being subject to City’s approval or disapproval, and indemnify and hold City and City’s officers, employees, and agents harmless from and against any claim, lawsuit, third party action, fine, penalty, settlement, or judgment, including any award of attorney fees and any award of costs, by or in favor of any of Contractor’s subcontractors for payment for work performed for City by any of such subcontractors, and from and against any claim, lawsuit, third party action, fine, penalty, settlement, or judgment, including any award of attorney fees and any award of costs, occasioned by or arising out of any act or omission by any of Contractor’s subcontractors or by any of Contractor’s subcontractors’ officers, agents, or employees. Contractor’s use of subcontractors in connection with this Agreement shall be subject to City’s prior written approval, which approval City may revoke at any time.

  • Bid and Performance Security The Contractor hereby and herewith deposits with and delivers to the Minister, as security of the due fulfilment of the Contract, one of the following, which shall remain in effect for a minimum of 30 days after tender closing:

  • DELIVERY AND PERFORMANCE All work performed under contracts or task orders will be at the highest quality applicable and delivered according to Statement of Objectives (SOO), Statement of Works (SOW), or Performance Work Statements (PWS). The Contractor must deliver and perform according to the requirements of the contract or task order, and may be denied further work for substandard performance. The Government may include deliveries or performance requirements, such as (1) optional clauses, (2) agency clauses, or (3) specific clauses, in a contract or task order.

  • COMPLIANCE AND PERFORMANCE EVALUATION Two (2) Mandatory Compliance and Performance Evaluation Meetings shall be conducted during each Term of this Agreement. Additional meetings may be scheduled at the discretion of Department to ensure Concessionaire’s effectiveness and compliance. The meetings shall review all aspects of the Concession Operation, ensuring that quality public services are being provided on a continuing basis in accordance with the Bid Specifications and this Agreement, that operational problems/concerns are addressed on a timely basis, and that all terms and conditions are clearly understood. The meetings shall be held on site with Department-designated State Park Service staff representative(s), the on-site concession manager, and a management/supervisory representative of Concessionaire’s firm. A report form shall be utilized to document the meeting, and to identify any deficiencies and the corrective action required. A copy of the completed report form shall be provided to the on- site concession manager or the management/supervisory representative of Concessionaire’s firm and shall be attached to and made a part of this Agreement. The Mandatory Compliance and Performance Evaluation Meetings shall be held as follows: • Meeting #1 - Prior to commencement of the Period of Operation or Memorial Day, whichever comes first. • Meeting #2 - Within ten (10) calendar days after the last approved day of the Period of Operation.

  • Maximum Obligation Contract Enter total maximum obligation for total duration of this contract (or new total if Contract is being amended). $ . PROMPT PAYMENT DISCOUNTS (PPD): Commonwealth payments are issued through EFT 45 days from invoice receipt. Contractors requesting accelerated payments must identify a PPD as follows: Payment issued within 10 days % PPD; Payment issued within 15 days % PPD; Payment issued within 20 days % PPD; Payment issued within 30 days % PPD. If PPD percentages are left blank, identify reason: agree to standard 45 day cycle statutory/legal or Ready Payments (M.G.L. c. 29, § 23A); only initial payment (subsequent payments scheduled to support standard EFT 45 day payment cycle. See Prompt Pay Discounts Policy.)

  • Performance Bonds Buyer shall have obtained, or caused to be obtained, in the name of Buyer, replacements for Seller’s and/or Seller’s Affiliates’ bonds, letters of credit and guarantees, and such other bonds, letters of credit and guarantees to the extent required by Section 7.05.

  • Unconditional Obligations This is a guaranty of payment and not of collection. The Guarantors' Obligations under this Guaranty Agreement shall be absolute and unconditional irrespective of the validity, legality or enforceability of the Credit Agreement, the Notes or any other Loan Document or any other guaranty of the Borrower's Liabilities, and shall not be affected by any action taken under the Credit Agreement, the Notes or any other Loan Document, any other guaranty of the Borrower's Liabilities, or any other agreement between the Agent or the Lenders and the Borrower or any other Person, in the exercise of any right or power therein conferred, or by any failure or omission to enforce any right conferred thereby, or by any waiver of any covenant or condition therein provided, or by any acceleration of the maturity of any of the Borrower's Liabilities, or by the release or other disposal of any security for any of the Borrower's Liabilities, or by the dissolution of the Borrower or the combination or consolidation of the Borrower into or with another entity or any transfer or disposition of any assets of the Borrower or by any extension or renewal of the Credit Agreement, any of the Notes or any other Loan Document, in whole or in part, or by any modification, alteration, amendment or addition of or to the Credit Agreement, any of the Notes or any other Loan Document, any other guaranty of the Borrower's Liabilities, or any other agreement between the Agent or the Lenders and the Borrower or any other Person, or by any other circumstance whatsoever (with or without notice to or knowledge of any Guarantor) which may or might in any manner or to any extent vary the risks of such Guarantor, or might otherwise constitute a legal or equitable discharge of a surety or a guarantor; it being the purpose and intent of the parties hereto that this Guaranty Agreement and the Guarantors' Obligations hereunder shall be absolute and unconditional under any and all circumstances and shall not be discharged except by payment as herein provided.

  • Obligations of Contractor Contractor agrees that:

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