Bonded Contract definition

Bonded Contract means any existing or future contract in respect of which any Bond is issued on behalf of any Principal.

Bonded Contract means any prepetition or postpetition contract under which a Debtor has contracted to provide goods, services, materials or equipment, and for which a Surety has provided a Bond.

Bonded Contract means any Government Contract, or any task order issued under or in connection with a Government Contract, with respect to which the Borrower’s performance is guaranteed by a performance bond issued by a surety company.

Examples of Bonded Contract in a sentence

• Upon default of this Agreement Surety as attorney-in-fact of the Undersigned, is hereby assigned all earned and unearned construction proceeds due under any Bonded Contract.

• Many Bonds have contractual conditions precedent in addition to the Principal’s default under the Bonded Contract (the Obligee is not in default, the Surety receives notice of the default, the Principal is terminated under the Bonded Contract, etc.) before the Surety’s obligations under the Bond arises.

• Any action against the Debtor (on the Bonded Contract or the surety bond) is stayed by the automatic stay.

• The irrevocable assignment, irrevocable letter of direction and voluntary letters of default being provided to Liberty pursuant to paragraph L of the DIP Financing Agreement shall only be used by Liberty, with respect to a specific Bonded Contract if, pursuant to a further Order of the Court after notice and hearing, (a) Navillus is terminated for default on that specific Bonded Contract or (b) Navillus rejects that specific Bonded Contract.

• Regardless, it is still the surety’s burden of proof concerning the validity, priority or extent of the surety’s interest in the Bonded Contract Funds.

More Definitions of Bonded Contract

Bonded Contract has the meaning specified in the Surety Intercreditor Agreement.

Bonded Contract means the contracts listed on Schedule 5.18 and any future contract in respect of which any Surety Bond is issued on behalf of any Borrower.

Bonded Contract means an agreement of Indemnitors, or any other indemnitor under any of the Indemnity Agreements, for which Surety executes a Bond, procures a Bond, assumed the obligations of a Bond, or has guaranteed performance.

Bonded Contract means a contract entered by a Subsidiary Loan Party in the ordinary course of business with a customer for the provision, lease or sale to such customer of equipment, software, products or services in connection with which a Surety Bond has been issued by a surety to support a Subsidiary Loan Party’s obligation under such contract.

Bonded Contract means an agreement of Kukui'ula Development Company (Hawaii), LLC for which Company executes a Bond, procures a Bond, assumes the obligations of a Bond, or has guaranteed performance.

Bonded Contract means any and all contracts of the Acquired Companies now or hereinafter bonded by Travelers or its affiliate companies for the benefit of any Acquired Company; “Bonded Contracts” means the collective reference to all Bonded Contracts.

Bonded Contract means the contracts listed on Schedule 3.25 and any future contract in respect of which any Surety Bond is issued on behalf of any Loan Party.