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. 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 120 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. 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. 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.
Maintenance Security. At least two weeks prior to the date of the regular meeting of the Chatham County Commissioners when the completed Subdivision Improvements are scheduled to be approved, the Owner shall secure its obligations under Section 3.1 hereof by providing to Chatham County, simultaneously herewith, one of the following: Please initial one: Owner Chatham County
Maintenance Security. 4.1 P&P Letter of Credit; Maintenance Payment and Performance Bonds 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 3.2.2 of the CMA General Conditions or (ii) the Maintenance Performance Bond and Maintenance Payment Bond in accordance with Section 3.2.3 of the CMA General Conditions (the “Maintenance Security”). Each bond and each rider required pursuant to Section 3.2 of the CMA General Conditions shall be provided in the applicable form set forth in Exhibit 5 to this CMA.
Maintenance Security a. Client Marketing Systems, Inc. may interrupt Service to perform maintenance on Client Marketing Systems, Inc.’s equipment or to address and/or mitigate the effects of security breaches, virus attacks, denial of service attacks, and other intentional interferences by third parties.
Maintenance Security. 5.6 The Concessionaire shall for due and faithful performance of its obligations during the Toll Period commencing from the Toll date, provide to MPRDC a security of Rs 4.27 crores ( Rupees four cores twenty seven lacs only) in the form of irrevocable and unconditional Bank Guarantee on or before the issue of completion certificate and start of Toll date. Failure of the Concessionaire to provide the Maintenance Security in accordance with this Clause 5.6, shall entitle MPRDC to terminate this Agreement in accordance with the provisions of Clause 29.3.4, without being liable in any manner whatsoever to the Concessionaire.
