Final Maintenance Bond Sample Clauses

Final Maintenance Bond. TO: The Accountant-General Ministry of Finance Jerusalem Re: Bank Guarantee No. Concession Agreement Dated ("Guarantee") Pursuant to the request of [name of the Concessionaire to be completed] (hereinafter: "The Applicant"), we hereby guarantee to pay you any sum, at your demand, up to the overall amount of [❑ one hundred million NIS (100,000,000 NIS) ❑ two hundred million NIS (200,000,000 NIS) to be completed in accordance with the option selected by the Concessionaire in accordance with the provisions of Tender Form B (The Bid Letter)] (hereinafter: "The Principal Amount"). Linkage differentials shall be added to the Principal Amount or any part thereof, in accordance with the provisions set forth herein below (hereinafter, the Principal Amount, together with linkage differentials, shall be referred to as "The Amount of the Guarantee"). We undertake to pay you, upon your first written demand, any sum specified in such demand up to the Amount of the Guarantee, immediately and no later than seven (7) days from the date of the receipt of your demand at our offices, whose address is indicated on this letter heading. For the purpose of this Guarantee: the "General Consumer Cost of Living Index" or the "Index" - shall mean the Consumer Price Index (also known as the Cost of Living Index) including vegetables and fruits, which is published by the Israeli Central Bureau of Statistics, including that Index, even if same shall be published by any other Government Institution and/or in any other manner, and also including any official Index which shall replace same, whether same shall be made up with the same data on which the existing index is based or not. If another index shall replace the existing Index, the Israeli Central Bureau of Statistics shall determine the ratio between them. The "Basic Index" - shall mean the Index published in respect of the month of at a rate of points. [to be completed based on the Index known on the date of issuance of the guarantee] The "New Index" - shall mean the Index last published before actual payment under this guarantee. If at the time of payment of any amount under this Guarantee, the New Index shall be higher than the Basic Index, the Amount of the Guarantee shall be calculated as increased in a rate equal to the rate in which the New Index has increased in comparison with the Basic Index. If it shall transpire that the New Index is equal to the Basic Index or lower therefrom, the Amount of the Guarantee shall remain unc...
Sample 1
AutoNDA by SimpleDocs
Final Maintenance Bond. The Concessionaire shall provide 4 years prior to the end of the Concession Period a Final Maintenance Bond in an amount in NIS equivalent to $2 million, in the form attached to this Agreement as Annex Q. The Final Maintenance Bond shall be valid until six months following the end of the Operation Period.
Sample 1
Final Maintenance Bond. The Implementing Authority may require the Concessionaire to deliver a Final Maintenance Bond to the Implementing Authority valid for three years issued by a bank acceptable to the Implementing Authority at any time during the three year period prior to the expiry of the Concession Period in the form set forth in Annexure X hereto, or otherwise in a form satisfactory to the Implementing Authority. The Final Maintenance Bond shall be issued in an amount which is equivalent to three times the average yearly amount expended by the Concessionaire on the maintenance of the Highway (including carrying out Rehabilitation Works) (as reported by the Concessionaire to the Implementing Authority under Clause 16.3) in the period of time from the Effective Date to the year in which the Final Maintenance Bond is delivered, adjusted for actual and prospective inflation and in any event not less than [15% (fifteen percent)] of average actual annual Gross Toll Revenue for the Highway in the immediately preceding three calendar years. The Implementing Authority shall be entitled to call on the Final Maintenance Bond where the Concessionaire fails to comply with its obligations under Clause 3.10 or pursuant to Clause 19.1.4 and to apply the proceeds in its sole discretion.
Sample 1

Related to Final Maintenance Bond

  • Maintenance Bond Prior to being placed on Council's agenda for acceptance of public improvements in this Subdivision, Subdivider shall deposit with the Director of Finance a Three (3) year maintenance bond for streets, pavement, storm and sanitary sewers, water systems, street lighting systems and facilities appurtenant thereto in the amount of Forty Six Thousand Nine Hundred Eighty Two and 50/100 ($46,982.50) Dollars, which represents ten percent (10%) of the estimated cost of said public improvements.

  • Facility Maintenance Seller shall perform, or cause to be performed, all scheduled and unscheduled maintenance required on the Facilities in order to meet the Warranty Specifications and Performance Standards. In that regard, Seller’s responsibilities hereunder shall include, without limitation, promptly correcting any Bloom System or BOF malfunctions, either by (i) recalibrating or resetting the malfunctioning Bloom System or BOF, or (ii) subject to Section 5.7(b), repairing or replacing Bloom System or BOF components which are defective, damaged, worn or otherwise in need of repair or replacement.

  • Site Maintenance The authorized area shall be maintained in a neat, clean, and safe condition, free of any solid waste, debris, or litter, except as specifically authorized herein.

  • Custodial/Maintenance Custodian, Buildings/Grounds Maintenance 20.5 Nutrition Services: Kitchen Manager, Kitchen Assistant ARTICLE IV – LEAVES Leave may only be taken in 30 minute increments. Except for emergency situations, unit members must complete the absence request form which includes obtaining their administrator’s written approval prior to taking leave. In emergency situations, the unit member is required to contact their administrator as far in advance of their scheduled work as possible.

  • REPAIRS; MAINTENANCE The Owner hereby gives power to the Agent to supervise repairs, improvements, alterations, and decorations to the Property as well as purchase and pay bills for services and supplies. The Agent shall obtain prior approval of the Owner for all expenditures over $ for any single item. Prior approval for lesser amounts shall not be required for monthly or recurring operating charges or if emergency expenditures over the maximum are, in the Agent’s opinion, needed to protect the Property from damage, prevent injury to persons, avoid suspension of necessary services, avoid penalties or fines, or suspension of services to tenants required by a lease or rental agreement or by law, including, but not limited to, maintaining the Property in a condition fit for human habitation as required by applicable law.

  • General Maintenance The LLC will establish and maintain a Capital Account for each Member. A Member’s Capital Account balance (“Capital Account Balance”) will be:

  • Equipment Maintenance If this Contract involves computer or telecommunications hardware or other mechanical or electrical Equipment (use of the word "Equipment" means all the foregoing) as a Deliverable, then, during the warranty period and during any period covered by annual maintenance, the Contractor will provide Equipment maintenance to keep the Equipment in or restore the Equipment to good working order. This maintenance will include preventative and remedial maintenance, installation of safety changes, and installation of engineering changes based upon the specific needs of the individual item of Equipment. This maintenance will also include the repair, replacement, or exchange deemed necessary to keep the Equipment in good working order. For purposes of this Contract, Equipment restored to good working condition means Equipment that performs in accordance with the manufacturer's published specifications. The Contractor will exert its best efforts to perform all fault isolation and problem determination attributed to the Equipment covered under this Contract. The following services are outside the scope of this Contract:

  • Record Maintenance The Service Provider shall maintain, and require any third parties with which it contracts to maintain with respect to the Fund’s shareholders holding the Fund’s shares in a Service Provider account (“Customers”) the following records:

  • Maintenance of Coverage Consultant shall not cancel, assign, or change any policy of insurance required by this agreement or engage in any act or omission that will cause its insurer to cancel any insurance policy required by this agreement except after providing 30 days prior notice to the City. If an insurance policy required by this agreement is unilaterally cancelled or changed by the insurer, Consultant shall immediately provide written notice to the City and obtain substitute insurance meeting the requirements of this agreement. Nothing in this paragraph relieves Consultant of its obligation to maintain all insurance required by this agreement at all times during the term of the agreement.

  • Planned Maintenance (a) Sellers may designate up to twenty (20) Days of Planned Maintenance on Sellers’ Facilities during each Contract Year. Sellers shall be entitled to reduce (including down to zero (0)) its Gas scheduling under Clause 8 and Exhibit 3 for each Day of Planned Maintenance.

Time is Money Join Law Insider Premium to draft better contracts faster.