Performance Assurance and Guaranty Sample Clauses

Performance Assurance and Guaranty. Seller shall deliver (a) the Performance Assurance and (b) the Guaranty to Buyer on or before three (3) Business Days after the Effective Date. From and after delivery of the Performance Assurance and the Guaranty, Seller shall maintain the Performance Assurance and cause the Guaranty to be maintained until the later of (i) two hundred and seventy (270) days after the termination or expiration of this Agreement or (ii) the resolution of all disputes pending pursuant to, in connection with, relating to or arising out of this Agreement and any Performance Assurance or the Guaranty at the end of such two hundred and seventy (270) day period (or thereafter arising during the pendency of any such disputes) (such later date, the “Release Date”); provided, however, that, if this Agreement is terminated due to the failure to satisfy the condition precedent set forth in Section 2.3(b)(i), the Release Date shall be sixty (60) days after such termination. No later than three (3) Business Days following written notification from Buyer to Seller of any draw on any Performance Assurance or the Guaranty, Seller shall replenish the Performance Assurance to an undrawn capacity equal to the Required PA Amount. If, at any time, (A) the Person issuing any Letter of Credit as part of the Performance Assurance at such time ceases to have the total assets or Credit Ratings required by the definition of “Letter of Credit” or becomes Bankrupt or does not honor a draw request that complies with the terms of the Letter of Credit or (B) any such Letter of Credit ceases to be in full force and effect, then Seller shall, within three (3) Business Days thereof, replace the affected Letter of Credit with other Performance Assurance with undrawn capacity equal to the Required PA Amount. In addition to the replacement Performance Assurance that may be required pursuant to the preceding sentence, Seller shall, at any time and from time to time, have the right to replace the Performance Assurance in effect at such time with other Performance Assurance having an undrawn capacity equal to the Required PA Amount. Any Letter of Credit provided as Performance Assurance shall have an expiration date no sooner than 364 days after issuance, and Seller shall extend or replace (with other Performance Assurance with undrawn capacity equal to the Required PA Amount) such Letter of Credit by the date that is thirty (30) days prior to the expiration thereof. If Seller fails to extend or replace any Letter...
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Related to Performance Assurance and Guaranty

  • Performance Assurance Seller agrees to deliver to Buyer Performance Assurance in a form acceptable to Buyer to secure its obligations under this Agreement, which Performance Assurance Seller shall maintain in full force and effect for the period posted with Buyer, as follows:

  • Indemnity for Performance Agreements The Vendor agrees to indemnify and hold harmless and defend TIPS, TIPS Member(s), officers and employees from and against all claims and suits for damages, injuries to persons (including death), property damages, losses, and expenses including court costs and attorney’s fees, arising out of, or resulting from, Vendor’s work under this Agreement, including all such causes of action based upon common, constitutional, or statutory law, or based in whole or in part, upon allegations of negligent or intentional acts on the part of the Vendor, its officers, employees, agents, subcontractors, licensees, or invitees, unless such claims are based in whole upon the negligent acts or omissions of the TIPS, TIPS Member(s), officers, employees, or agents. If based in part upon the negligent acts or omissions of the TIPS, TIPS Member(s), officers, employees, or agents, Vendor shall be responsible for their proportional share of the claim. State of Texas Franchise Tax By signature hereon, the bidder hereby certifies that he/she is not currently delinquent in the payment of any franchise taxes owed the State of Texas under Chapter 171, Tax Code.

  • Performance Assessment 6.1 The Performance Plan (Annexure A) to this Agreement sets out key performance indicators and competencies that needs to be evaluated in terms of –

  • COMPLIANCE AND PERFORMANCE EVALUATION Two (2) Mandatory Compliance and Performance Evaluation Meetings shall be conducted during each Term of this Agreement. Additional meetings may be scheduled at the discretion of Department to ensure Concessionaire’s effectiveness and compliance. The meetings shall review all aspects of the Concession Operation, ensuring that quality public services are being provided on a continuing basis in accordance with the Bid Specifications and this Agreement, that operational problems/concerns are addressed on a timely basis, and that all terms and conditions are clearly understood. The meetings shall be held on site with Department-designated State Park Service staff representative(s), the on-site concession manager, and a management/supervisory representative of Concessionaire’s firm. A report form shall be utilized to document the meeting, and to identify any deficiencies and the corrective action required. A copy of the completed report form shall be provided to the on- site concession manager or the management/supervisory representative of Concessionaire’s firm and shall be attached to and made a part of this Agreement. The Mandatory Compliance and Performance Evaluation Meetings shall be held as follows: • Meeting #1 - Prior to commencement of the Period of Operation or Memorial Day, whichever comes first. • Meeting #2 - Within ten (10) calendar days after the last approved day of the Period of Operation.

  • Criteria for Performance Assessment A. A teacher’s performance shall be assessed based on the criteria set forth in the evaluation instrument, Appendix D.

  • Lodgement of SWS wage assessment agreement C.6.1 All SWS wage assessment agreements under the conditions of this schedule, including the appropriate percentage of the relevant minimum wage to be paid to the employee, must be lodged by the employer with Fair Work Australia.

  • AFFIRMATIONS, ASSURANCES AND CERTIFICATIONS 11 5.1 General Affirmations 11 5.2 Federal Assurances 11 5.3 Federal Certifications 11

  • CONTRACTOR PERFORMANCE AUDIT The Contractor shall allow the Authorized User to assess Contractor’s performance by providing any materials requested in the Authorized User Agreement (e.g., page load times, response times, uptime, and fail over time). The Authorized User may perform this Contractor performance audit with a third party at its discretion, at the Authorized User’s expense. The Contractor shall perform an independent audit of its Data Centers, at least annually, at Contractor expense. The Contractor will provide a data owner facing audit report upon request by the Authorized User. The Contractor shall identify any confidential, trade secret, or proprietary information in accordance with Appendix B, Section 9(a), Confidential/Trade Secret Materials.

  • Quality Assurance Plan The contractor shall develop and submit to NMFS a contractor Quality Assurance Plan, as referenced in Section F.5.3, which details how the contractor will ensure effectiveness and efficiency of collection efforts as well as the quality of data collected by its At-Sea Monitors. The contractor shall further establish, implement, and maintain a Quality Assurance Management program to ensure consistent quality of all work products and services performed under this contract.

  • COUNTY’S QUALITY ASSURANCE PLAN The County or its agent will evaluate the Contractor’s performance under this Contract on not less than an annual basis. Such evaluation will include assessing the Contractor’s compliance with all Contract terms and conditions and performance standards. Contractor deficiencies which the County determines are severe or continuing and that may place performance of the Contract in jeopardy if not corrected will be reported to the Board of Supervisors. The report will include improvement/corrective action measures taken by the County and the Contractor. If improvement does not occur consistent with the corrective action measures, the County may terminate this Contract or impose other penalties as specified in this Contract.

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