Bond Cancellation. The obligations of the Undersigned incurred in this Bond Agreement including, but not limited to, the obligation of pay premiums, interest, fees, and costs, shall continue until such time as Company has received formal written notice from DHS that the Bond has been either cancelled or breached. UNDERSIGNED AGREE THAT IT SHALL BE THE UNDERSIGNED(S) SOLE RESPONSIBILITY AND OBLIGATION TO PROVIDE COMPANY WITH EVIDENCE OF THE BOND CANCELLATION BY PROVIDING COMPANY WITH NOTICE - IMMIGRATION BOND CANCELLED (ICE FORM I-391). Upon receiving notice of Bond cancellation from DHS, and the Undersigned having fully complied with all of its obligations under the Bond Agreement, (i) Company will return the amount of any cash collateral deposited by the Undersigned, less any and all monies due to Company and/or Producer under the Bond Agreement, including, but not limited to, Undersigned’s indemnity obligations under this Bond Agreement, unpaid premiums, expenses, interest thereon, and any other charges referenced in the Bond Agreement; (ii) Company will reconvey any Deed of Trust pledged by the Undersigned as security for its obligations under the Bond Agreement; (iii) Producer and/or the Company will terminate any security interest and return any collateral (other than cash) pledged by the Undersigned as security for its obligations under the Bond Agreement; or (iv) Producer and/or the Company will not place any further hold on any credit card which Undersigned has authorized as security for its obligations under the Bond Agreement.
Bond Cancellation. The parties hereto acknowledge and agree that, on or prior to the Closing Date, the Sellers may terminate or otherwise cancel the bonds set forth on Schedule 2.11 hereto.
Bond Cancellation. Whenever any Bond shall be surrendered to the Paying Agent upon payment thereof, or to the Registrar for transfer, exchange or replacement as provided herein, such Bond shall be promptly cancelled and destroyed by the Paying Agent or Registrar, and a certificate of such cancellation and destruction shall be furnished by the Paying Agent or Registrar to the District.
Bond Cancellation. Any surety company or indemnitor canceling a bond must give the Department at least sixty-days’ (60) notice prior to cancellation. The Department will not release a surety or indemnitor from liability under existing bonds until the Lessee has submitted to the Department an acceptable replacement bond. Such replacement bond must cover any liability accrued against the bonded principal on the Lease covered by the previous bond. (3-18-22)
