Bond Duration/Term Sample Clauses

Bond Duration/Term. The performance bond provided under Section 35 shall be released and returned to the TSI Contractor one year after Open to Tolling or upon successful completion of the System Acceptance Test, whichever occurs later. The payment bonds provided under this Section 35 shall be released and returned to the TSI Contractor within one year after Open to Tolling or upon successful completion of the System Acceptance Test, whichever occurs later, provided all claims for payment by any of the TSI Contractor Parties are fully and finally resolved and TSI Contractor furnishes SRTA with an Affidavit from each and every one of the TSI Contractor Parties on the applicable Project, certifying that the TSI Contractor Party, as applicable, received payment in full and has no outstanding claims for payment against TSI Contractor for Work performed on the Project. Thereafter, payment bonds shall be provided on an annual renewal basis for the maintenance services; with such annual renewal bonds being in the amount of 100% of the respective annual amount for the maintenance services.
Sample 1
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Bond Duration/Term. Provided the Initial Term has not expired, the performance bond provided under Section 35 shall be released and returned to the TSI Contractor one year after Open to Tolling or upon successful completion of the System Acceptance Test, whichever occurs later. If the Initial Term expired and the applicable Project has not been Open to Tolling for a period of one year or one year has not passed since a successful completion of the System Acceptance Test, whichever occurs later, then the TSI Contractor must, ten (10) Days prior to the expiration of the Initial Term, provide a new performance bond for the duration of the Renewal Term according to the terms of this Section. Provided the Initial Term has not expired, the payment bonds provided under this Section 35 shall be released and returned to the TSI Contractor within one year after Open to Tolling or upon successful completion of the System Acceptance Test, whichever occurs later, provided all claims for payment by any of the TSI Contractor Parties are fully and finally resolved and TSI Contractor furnishes SRTA with an Affidavit from each and every one of the TSI Contractor Parties on the applicable Project, certifying that the TSI Contractor Party, as applicable, received payment in full and has no outstanding claims for payment against TSI Contractor for Work performed on the Project. If the Initial Term expired and the applicable Project has not been Open to Tolling for a period of one year or one year has not passed since a successful completion of the System Acceptance Test, whichever occurs later, then the TSI Contractor must ten
Sample 1

Related to Bond Duration/Term

  • TERM AND DURATION 4.1 The Company shall commence upon the filing of the Certificate of Formation, and shall continue in full force and effect until May 1, 2024, provided, however, that the Company shall be dissolved prior to such date upon the happening of any of the following events:

  • COMMENCEMENT AND DURATION 3.1 This Agreement will commence on 01 July 2020 and will remain in force until 30 June 2021 where-after a new Performance Agreement shall be concluded between the parties for the next financial year or any portion thereof;

  • Refund During Cooling-Off Period The PEI will provide the Student with a cooling-off period of seven (7) working days after the date that the Contract has been signed by both parties. The Student will be refunded the highest percentage (stated in Schedule D) of the fees already paid if the Student submits a written notice of withdrawal to the PEI within the cooling-off period, regardless of whether the Student has started the course or not.

  • SCOPE AND DURATION The description of this project is to . It is anticipated that this project will begin and will end .

  • COMMENCEMENT AND DURATION OF AGREEMENT 9. This Agreement shall commence on the [insert date] and shall remain in force for [2] years (“Initial Contract Period”).

  • Frequency and Duration There shall be an open enrollment period for health coverage in each year of this Agreement, and for dental coverage in the first year of this Agreement. Each year of the Agreement, all employees shall have the option to complete a Health Assessment. Open enrollment periods shall last a minimum of fourteen (14) calendar days in each year of the Agreement. Open enrollment changes become effective on January 1 of each year of this Agreement. Subject to a timely contract settlement, the Employer shall make open enrollment materials available to employees at least fourteen (14) days prior to the start of the open enrollment period.

  • Effective Date and Duration When all Parties have executed this Grant, and all necessary approvals have been obtained (“Executed Date”), this Grant is effective and has a Grant funding start date as of July 1, 2020 (“Effective Date”), and, unless extended or terminated earlier in accordance with its terms, will expire on June 30, 2021.

  • Maximum Duration Up to five years. The five-year period is a cumulative total of all absences from employment at the University due to the employee’s service in the military. If it appears that an employee has exceeded the five-year total, the appropriate University Human Resources office must be contacted to verify the total length of the employee’s military service, and determine the department’s obligation to place the employee.

  • RENTAL DURATION 3.1 Rental days are calculated on a calendar day basis. When calculating the number of days the Vehicle is rented, the day of pick-up is counted as day one of the rental, regardless of pick-up time. The day of the Vehicle’s return is counted as the final day of the rental regardless of drop-off time.

  • Entry into force and duration 1. This Agreement shall enter into force one month after the date of exchange of the instruments of ratification by the Contracting Parties. The Agreement shall remain in force for a period of ten years. Unless notice of termination is given by either Contracting Party at least six months before the expiry of its period of validity, this Agreement shall be tacitly extended each time for a further period of ten years, it being understood that each Contracting Party reserves the right to terminate the Agreement by notification given at least six months before the date of expiry of the current period of validity.

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