Bond Release Clause Samples
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Bond Release. A release of a bond re- quired under section 30141(d) of this title is deemed an acceptance of a certification or com- pletion of an inspection under this section but is not a decision by the Secretary of Transpor- tation under section 30118(a) or (b) of this title of compliance with applicable motor vehicle safety standards prescribed under this chapter. (Pub. L. 103–272, § 1(e), July 5, 1994, 108 Stat. 964.) 30146(a) ...... 15:1397(c)(3)(E)(i) Sept. 9, 1966, Pub. L. 89–563, (1st, 3d, last sen- 80 Stat. 718, § 108(c)(3)(E); tences), (vii). added Oct. 31, 1988, Pub. L. 100–562, § 2(b), 102 Stat. 2820. 30146(b) ...... 15:1397(c)(3)(E)(ii).
Bond Release. Buyer shall use commercially reasonable efforts to procure the release effective as of the Closing of any security, bonds, guarantees and suretyships posted by Seller or its Affiliates with respect to the Business (each, a “Bond” and collectively the “Bonds”) and shall, as part of its efforts to procure such releases, agree with the beneficiary of any such Bond to replace the Bond granted or posted by Seller or its Affiliates. In the event that Buyer is unable to procure releases of all such Bonds on or before the Closing:
(a) Buyer shall indemnify and hold harmless Seller and its Affiliates from and against any Losses arising under such Bonds from and after the Closing; and (b) Buyer shall continue to use its commercially reasonable efforts to procure the release of each such Bond.
Bond Release. This Land Reclamation Financial Guarantee shall be the first bond released from this permit.
Bond Release. If WANRack has completed the above construction and wants the bond released, the City will need to inspect and approve the construction prior to such release. However, a performance bond will be required for each subsequent or additional construction project and/or work on public property.
Bond Release. Upon completion of ROW work to the satisfaction of the Director and upon lapse of the bond period, including any extension by the Director, the City shall release the bond.