Completion Security Sample Clauses

The Completion Security clause requires a party, typically a contractor, to provide a financial guarantee or security to ensure the satisfactory completion of a project or contractual obligations. This security can take the form of a performance bond, bank guarantee, or other financial instrument, and is usually held by the client or project owner until the work is completed to the agreed standards. By implementing this clause, the contract protects the client from the risk of non-performance or incomplete work, ensuring that there are funds or guarantees available to remedy any failures in completion.
Completion Security. ‌ (a) In the event the Participant has not completed the Supplemental Registration for the Contracted DER prior to the Contract Date, the Participant shall post the Completion Security as of the Contract Date, which Completion Security shall be maintained as security for the performance of the Participant’s obligations under this Contract with respect to completion of the Supplemental Registration for the Contracted DER. (b) If required in accordance with Section 3.1(a), the Participant acknowledges and agrees that the Auction Deposit for the Contracted DER will be exchanged for the Completion Security and consents to the retention of such funds by the DSO in order to fulfill its obligation to provide the Completion Security, and the DSO accepts and acknowledges such exchange as the valid performance by the Participant of its obligation to provide Completion Security. (c) Any interest earned by the DSO on any Completion Security provided to the DSO shall be for the account of the DSO and the Participant shall not have any right to such interest.
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Completion Security. $ , which is the District Engineer’s estimate of the cost of the Sewer Improvements (the “Completion Security”). The Completion Security shall be held by the District as security for the Developer’s timely and workmanlike completion of the Sewer Improvements described herein; and
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Completion Security. At least two weeks prior to the date of the regular meeting of the Chatham County Commissioners when the Subdivision Plat is scheduled to be approved for recording, the Owner shall secure its obligations under Section 2.1 hereof by providing to Chatham County, simultaneously herewith, one of the following: Please initial one: Owner Chatham County (1) Owner shall withhold 50% of the total buildable lots from being recorded until all Subdivision Improvements are completed by Owner and approved by the County; or (2) Owner shall deposit cash, in escrow with Chatham County in an amount equal to the Completion Cost of the Remaining Improvements. Said funds shall be held for a minimum term ending at least sixty (60) days after the Completion Date, but Chatham County shall have no obligation to release said funds until the Remaining Improvements have been completed by Owner and approved by Chatham County. The Owner shall not be entitled to any interest that may accrue on the funds while held in escrow by Chatham County. In the event that Owner satisfies its obligations under Section 2.1 hereof, said Security shall be canceled or returned to Owner by Chatham County within thirty (30) days after approval of the Remaining Improvements.
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Completion Security. 30.2.1 The Completion Security shall be: (a) in the agreed form; (b) an on-demand guarantee issued by a reputable financial institution having a credit rating in respect of its long-term debt from Standard & Poor's of not less than A+ or its equivalent by another rating agency of international reputation (or having been approved by the Contracting Authority and, since such approval, having not suffered a material adverse change in its financial condition); (c) naming the Contracting Authority as the direct beneficiary; (d) in an amount equivalent to [•] Euros (EUR [•]); and (e) permitting the Contracting Authority to draw on the Completion Security on demand (without any justification to be provided). 30.2.2 The Completion Security shall remain outstanding until the latest of (i) expiry of a period of thirty (30) days from the date of issuance of the Works Completion Certificate or (ii) expiry of the period determined in the Works Completion Certificate to remedy any punch-list items. 30.2.3 If the Completion Security is scheduled to expire before the aforementioned date, then the Concessionaire shall arrange for the extension or replacement of the Completion Security by not later than the date which is thirty (30) days before the scheduled expiry of the Completion Security, failing which the Contracting Authority shall be entitled to draw on the Completion Security for its full amount. The Contracting Authority shall return the proceeds of any drawing which has not otherwise become due under this Concession Agreement to the Concessionaire upon the delivery by the Concessionaire to the Contracting Authority of an extension or replacement of the Completion Security.
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Related to Completion Security

  • Completion Date The Work under this Contract shall be completed by midnight of the date required in the Contract as the Material Completion and Occupancy Date unless extended by approved requests for extension of time.

  • Completion of Repairs Borrower will commence any Repairs as soon as practicable after the date of this Loan Agreement and will diligently proceed with and complete such Repairs on or before the Completion Date. All Repairs and Capital Replacements will be completed in a good and workmanlike manner, with suitable materials, and in accordance with good building practices and all applicable laws, ordinances, rules, regulations, building setback lines and restrictions applicable to the Mortgaged Property. Borrower agrees to cause the replacement of any material or work that is defective, unworkmanlike or that does not comply with the requirements of this Loan Agreement, as determined by Lender.

  • Completion Time The Consultant must complete the services and deliverable for this task in accordance with whichever one of the following time is marked: On or before the following date: . On or before Business Days from .

  • Project Completion The Contractor agrees to schedule a final job walk with the County. If required, the County will prepare a list of incomplete items, the “Punch List”. The Contractor agrees to complete the “Punch List” corrections and schedule a final project completion job walk. The County will sign the “Punch List” as completed when determined, the project is finished. The Contractor agrees to submit the following along with its final payment request:

  • Project Completion Date It is agreed between the Parties that the Project Completion Date is <END DATE, YEAR>. If the Project is not completed by such date then, subject to an amendment agreed to between the Parties, Alberta Innovates may elect to terminate this Investment Agreement. In such event, Alberta Innovates will notify the Applicant of its decision to terminate as soon as reasonably practical and shall advise the Applicant of the effective date of termination. Alberta Innovates will have no liability or obligation to reimburse the Applicant for any Project Costs incurred after the effective date of termination and may require the Applicant to return any portions of the Investment which were spent on Ineligible Expenses. Additionally, any portion of the Investment not used and accounted for in accordance with this Agreement as of the Project Completion Date or earlier termination is repayable by the Applicant to AI at AI’s request.