– Performance and Payment Bonds for Construction Sample Clauses

– Performance and Payment Bonds for Construction. Airline shall not commence construction upon the Premises until Airline demonstrates compliance with all performance and payment bond requirements under Applicable Laws and Airport Rules and Regulations, including without limitation the applicable provisions of California Civil Code Section 9550. In lieu of said bonds, the President/CEO may at the President/CEO’s reasonable discretion accept the performance and labor and material bonds supplied by Airline’s contractors or subcontractors. Whether secured by Airline or its contractors or subcontractors, all bonds must be issued by a company qualified to do business in the State of California, be in a form acceptable to Authority, and comply with the requirements of California law.
Sample 1
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– Performance and Payment Bonds for Construction. No major construction shall be commenced upon the Airline Leased Premises by Airline until Airline has secured and submitted to Authority performance and payment bonds in the amount of the total estimated construction cost of improvements to be constructed by Airline. In lieu of said bonds, the President/CEO of Authority may at the President/CEO’s reasonable discretion accept the performance and labor and material bonds supplied by Airline's contractor or subcontractors. Said bonds must be issued by a company qualified to do business in the State of California, be in a form acceptable to Authority, and comply with the requirements of California law.
Sample 1

Related to – Performance and Payment Bonds for Construction

  • Performance and Payment Bonds The authority and responsibility for requesting performance and payment bonds shall rest with the Customer. Under this Contract, the Customer issuing the purchase order may request a performance and payment bond, as deemed necessary by the size of the job. Inability to provide a bond may result in the Contractor being found in default of the purchase order.

  • Performance and Payment Bond Contractor shall post with County, not later than ten (10) days of the execution of this Agreement, a performance and payment bond in the amount of one hundred percent (100%) of the total lump sum price in such form as is satisfactory to County. The bond shall be executed by a corporate surety company duly authorized and admitted to do business in the State of Texas and licensed to issue such a bond in the State of Texas.

  • PERFORMANCE AND PAYMENT BONDS FOR INDIVIDUAL ORDERS H-GAC’s contractual requirements DO NOT include a Performance & Payment Bond (PPB); therefore, Contractor shall offer pricing that reflects this cost savings. Contractor shall remain prepared to offer a PPB to cover any order if so requested by the END USER. Contractor shall quote a price to END USER for provision of any requested PPB, and agrees to furnish the PPB within ten business (10) days of receipt of END USER's purchase order.

  • Performance Bond and Payment Bond The Contractor shall furnish both a performance bond and a payment bond in the exact form set forth in Section 7, (Forms) of these General Conditions.

  • Calculation and Payment of Additional Rent Tenant shall pay to Landlord, in the manner set forth in Section 4.4.1, below, and as Additional Rent, Tenant’s Share of Direct Expenses for each Expense Year.

  • Purchase Price and Terms of Payment A. The purchase price (“Purchase Price”) for the Property shall be Seven Million and 00/100 Dollars ($7,000,000.00) and shall be paid on the Closing Date by Federal funds wire transfer, in United States dollars.

  • Performance Bonds Buyer shall have obtained, or caused to be obtained, in the name of Buyer, replacements for Seller’s and/or Seller’s Affiliates’ bonds, letters of credit and guarantees, and such other bonds, letters of credit and guarantees to the extent required by Section 7.05.

  • Prices and Terms of Payment 3.1 The Total Purchase Price (inclusive of any tax payable) shall be paid in accordance with the payment schedule set forth in Appendix B of this Agreement.

  • Conditions for Award of Contract 7. The Borrower shall not award any Works contract which involves environmental impacts until:

  • CONSIDERATION AND TERMS OF PAYMENT a. Consideration for all services performed and goods or materials supplied by the CONSULTANT pursuant to this contract shall be paid by Minnesota State as follows:

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