Completion Guaranty. (a) Guarantor hereby unconditionally and irrevocably guarantees to Lender the full performance and completion of the PIP Work on or before the Outside Date (as defined in the Loan Agreement), including, without limitation, that the PIP Work be constructed, performed and completed in accordance with the terms and conditions of the Property Improvement Plan, [Franchise Agreement] [Management Agreement], the Loan Agreement, the Security Instrument and the other Loan Documents, free and clear from all defects and liens and in compliance with all applicable laws (collectively, the “Guaranteed Obligations”).
Completion Guaranty. Concurrently herewith, the Completion Guarantor has executed in favor of the Bank Agent (acting on behalf of the Bank Lenders) and the Indenture Trustee (acting on behalf of the Second Mortgage Note Holders) the Completion Guaranty pursuant to which the Completion Guarantor has agreed, subject to the terms and limitations thereof, to guaranty completion of the Project and payment by the Company of certain Project Costs.
Completion Guaranty. Any payments made by MGM or MGM MIRAGE pursuant to the Construction Completion Guaranty shall not constitute Capital Contributions to the Company, but rather shall be treated as paid outside the Company by MGM or MGM MIRAGE in its individual capacity and not as (or on behalf) of a Member. Similarly, all distributions received by MGM or MGM MIRAGE pursuant to the Cash Proceeds Letter shall not constitute distributions of Distributable Cash, but rather shall be treated as paid outside the Company.
Completion Guaranty. Obtain a Completion Guaranty for (a) any item of Product (other than a made-for-television Product) for which any Credit Party has a current financial exposure (as opposed to a Negative Pick-up Obligation) or is otherwise subject to the economic risk of Completion if the Production Exposure exceeds US$5,000,000 for any individual item of Product or which would result in the aggregate Production Exposure exceeding US$15,000,000 for all such items of Product which are not covered by a Completion Guaranty and (b) any made-for-television movie for which any Credit Party has direct production funding responsibility (and excluding game shows, reality shows and talk shows) for which the Production Exposure exceeds US$5,000,000 or is otherwise required by the Administrative Agent in its discretion.
Completion Guaranty. Subject to any approved Change Order authorizing an extension to the Project Schedule, Contractor hereby guarantees to achieve Substantial Completion of the Work, as defined in Paragraph 26, within the Contract Time set forth in the Project Schedule. Contractor's failure to achieve Substantial Completion within the Contract Time, except pursuant to a mutually agreed Change Order, shall constitute a breach of this Agreement. In the event that Contractor falls significantly behind the Project Schedule, Owner shall be entitled to require Contractor to implement a recovery schedule (“Recovery Schedule”) within five (5) days, which Recovery Schedule shall only be effective if approved by Owner and Parish/Facility.
Completion Guaranty. The Contractor Guarantor is executing and delivering the Completion Guaranty, a copy of which is attached as Exhibit I, under which it shall guarantee to the Concessionaire and the Department the performance and completion of all of the Design Build Contractor’s obligations under the Design-Build Contract (including, but not limited to, its warranty and indemnification obligations).
Completion Guaranty. By the deadline specified therefore in the Schedule of Performance, Tenant shall furnish Landlord with a performance bond in an amount not less than one hundred percent (100%) of the anticipated cost of such construction work on the Leased Premises, and a payment bond guaranteeing the completion of the Improvements free from liens of materialmen, contractors, subcontractors, mechanics, laborers, and other similar liens. Said bonds shall be bonds of a responsible surety company, licensed to do business in California with a financial strength and credit rating reasonably acceptable to Landlord, and shall remain in effect until the entire cost of the work has been paid in full and the Improvements have been insured as provided in this Lease. Any such bonds shall be in a form reasonably satisfactory to Landlord. Landlord may elect to accept a completion guaranty from a third party guarantor with substantial net worth, a letter of credit from an institutional lender, or such alternative or other security for the completion of such construction as Landlord may approve in its sole discretion.