Maintenance Security Clause Samples

Maintenance Security. DB Contractor shall obtain and provide to TxDOT on or before 60 Days after issuance by TxDOT of Maintenance NTP1, and shall maintain at all times during the Maintenance Period in accordance with this CMA, including during the Initial Maintenance Term and all subsequent Maintenance Terms for which a Maintenance NTP has been issued, adequate security securing DB Contractor’s obligations hereunder in the form of either (i) the P&P Letter of Credit in accordance with Sections 7.2 and 7.3 or (ii) the Maintenance Performance Bond and Maintenance Payment Bond in accordance with Section 7.4 (the “Maintenance Security”).

Maintenance Security. DB Contractor shall provide to TxDOT no later than 14 days prior to the Initial Maintenance Term Commencement Date, and shall maintain at all times during the Maintenance Period, including during the Initial Maintenance Term and all subsequent Maintenance Terms for which a Maintenance NTP has been issued, adequate security securing DB Contractor’s obligations hereunder in the form of either (i) the P&P Letter of Credit in accordance with Sections 3.2.1 and

Maintenance Security. The amount of the Performance Security may be reduced to a reasonable sum as determined by the Town Engineer to cover Developer’s warranty obligations hereunder, thus establishing a Maintenance Security instrument. The Maintenance Security shall remain in place until the Security is released by the Town at the time of dedication and acceptance.

Maintenance Security. The Company will use its best efforts to provide standard maintenance for the Platform during the term of this Agreement, which will include enhancements, "bug fixes" and other modifications as may be identified by the Company. Company shall bear no obligation to run, provide or support legacy versions of the Platform. The Company may make additional modifications or releases to the Platform and the underlying source code as the Company may determine in its sole and absolute discretion. Notwithstanding the foregoing, to the extent any such modifications or releases are reasonably expected to reduce, inhibit, impair, or otherwise adversely affect the functionality or performance of the Platform, the Company will use commercially reasonable efforts to notify Client of such changes with as much notice as is reasonably practicable. The Company will, at all times, implement and maintain reasonable technical, administrative, physical, and organizational information security measures.

Maintenance Security. Developer acknowledges that, pursuant to Section 509 of the Pennsylvania Municipalities Planning Code, the Township is entitled to require the posting of Financial Security to secure the structural integrity of the Township Improvements, as well as the functioning of said Township Improvements, which are to be dedicated to the Township in accordance with the design and specifications as depicted on the final Plans (the "Maintenance Security"). This posting of Maintenance Security shall be for a period not to exceed eighteen (18) months from the date of the acceptance of the dedicated public improvements. It is agreed by Developer that simultaneously with the offering of deeds of dedication, Developer will supply Maintenance Security in the form authorized by the statute aforesaid and acceptable to the Township Solicitor, in an amount not to exceed fifteen (15%) percent of the actual costs of installation of said Township Improvements, said security being posted for a period of eighteen (18) months to guarantee the structural integrity of the Township Improvements as aforesaid. A condition to the Maintenance Security to be posted herein shall be that Developer shall, for the period of eighteen (18) months as aforesaid, repair and maintain such Township Improvements and construct and make good and replace all materials, equipment and work, and remedy all defects in materials, equipment and workmanship, all shrinkage, settlement and other defaults of any kind whatsoever arising therefrom at its own expense, and to the satisfaction of the Township, when notified in writing to do so. Developer agrees that the Township shall have the right to make or cause to be made good or replace all inferior materials, equipment and workmanship, and remedy all defects in materials, equipment and workmanship, all shrinkage, settlement or other faults of any kind whatsoever arising therefrom in case Developer shall fail or refuse to do so in accordance with the terms of this Agreement. In the event that the Township should exercise and give effect to such rights, Developer shall be liable hereunder to pay and indemnify the Township upon completion for the final cost thereof to the Township, including but not limited to engineering, legal and any associated costs, together with any damages, either direct or consequential, which the Township may sustain as a result of the failure of Developer to carry out and execute all of the provisions of this Agreement. In addition to the ag...

Maintenance Security. 14.1 The Supplier will provide a maintenance security in the amount of 3% of the value offer. 14.2 The Supplier warrants that the Goods supplied under the Contract are brand new, unused, of the most recent or current models and incorporate all recent improvements in design and materials unless provided otherwise in the contract. The Supplier further warrants that all Goods supplied under this Contract shall have no defect arising from design, materials or workmanship (except insofar as the design or material is required by the Purchaser's Specifications) or from any act or omission of the Supplier, that may develop under normal use of the supplied Goods in the conditions obtaining in the country of final destination. 14.3 Upon receipt of such notice, the Supplier shall, with all reasonable speed, repair or replace the defective Goods or parts thereof, without costs to the Purchaser other than, where applicable, the cost of inland delivery of the repaired or replaced Goods or parts from the port of entry to the final destination. 14.4 If the Supplier, having been notified, fails to remedy the defect(s) within a reasonable period, the Purchaser may proceed to take such remedial action as may be necessary, at the Supplier's risk and expense and without prejudice to any other rights which the Purchaser may have against the Supplier under the Contract, including the liquidation of the maintenance security.

Maintenance Security. The Company will use its best efforts to provide standard maintenance for the Platform during the term of this Agreement, which will include enhancements, "bug fixes" and other modifications as may be identified by the Company. The Company may make additional modifications or releases to the Platform and the underlying source code as the Company may determine in its sole and absolute discretion. Notwithstanding the foregoing, to the extent any such modifications or releases are reasonably expected to reduce, inhibit, impair, or otherwise adversely affect the functionality or performance of the Platform, the Company will use commercially reasonable efforts to notify Client of such changes with as much notice as is reasonably practicable. The Company will, at all times, implement and maintain all appropriate technical, administrative, physical, and organizational measures.

Maintenance Security. Notwithstanding the requirements of the Construction Act or the provisions of Section GC 8.02 of the General Conditions of Contract, a maintenance security in the amount of two percent (2%) will be retained by the Owner in addition to the Lien Holdback. At the end of the maintenance period, the security will be released, reduced or retained depending on the status of the repair of the deficiencies. This maintenance security will be in addition to any other holdbacks retained. No interest on monies held back by the Owner will be paid to the Contractor.

Maintenance Security. The Maintenance Security is required upon the reduction of the Performance Security and at the start of the Warranty Period. The Maintenance Security guarantees the completed work against any latent defects during the Warranty Period.