Common use of Performance Guaranty Clause in Contracts

Performance Guaranty. Lessee shall provide and maintain a surety bond or other form of security acceptable to DMLW in the amount of $36,700 payable to the State of Alaska. Such performance guaranty shall remain in effect for the term of this and any subsequent authorization and shall secure performance of Xxxxxx’s obligations hereunder. The amount of the performance guaranty may be adjusted by the AO in the event of approved amendments to this authorization, changes in the Development Plan, or any change in the activities or operations conducted on the premises. The performance guaranty may be utilized by DMLW to cover actual costs incurred by the State of Alaska to pay for any necessary corrective actions in the event the Lessee does not comply with the site utilization, restoration requirements and other stipulations contained in the lease agreement. If the Lessee fails to perform the obligations under the authorization within a reasonable timeframe, the State may perform the Lessee’s obligations at the Lessee’s expense. Xxxxxx agrees to pay within 20 days following demand, all costs and expenses incurred by the State of Alaska as a result of the failure of the Lessee to comply with the terms and conditions of the authorization. Failure to do so may result in the termination of the authorization and/or forfeiture of the performance guaranty. Any provisions of the lease agreement shall not prejudice the State’s right to obtain a remedy under any law or regulation. If the AO determines that Xxxxxx has satisfied the terms and conditions of the land use authorization, the performance guaranty will be subject to release. The performance guaranty may only be released in writing by the AO.

Performance Guaranty. Lessee shall provide and maintain a surety bond or other form of security acceptable to DMLW in the amount of $36,700 64,300 payable to the State of Alaska. Such performance guaranty shall remain in effect for the term of this and any subsequent authorization and shall secure performance of Xxxxxx’s obligations hereunder. The amount of the performance guaranty may be adjusted by the AO in the event of approved amendments to this authorization, changes in the Development Plandevelopment plan, or any change in the activities or operations conducted on the premises. The performance guaranty may be utilized by DMLW to cover actual costs incurred by the State of Alaska to pay for any necessary corrective actions in the event the Lessee does not comply with the site leasehold utilization, restoration requirements and other stipulations contained in the lease agreement. If the Lessee fails to perform the obligations under the authorization within a reasonable timeframe, the State may perform the Lessee’s obligations at the Lessee’s expense. Xxxxxx agrees to pay within 20 days following demand, all costs and expenses incurred by the State of Alaska as a result of the failure of the Lessee to comply with the terms and conditions of the authorization. Failure to do so may result in the termination of the authorization and/or forfeiture of the performance guaranty. Any provisions of the lease agreement shall not prejudice the State’s right to obtain a remedy under any law or regulation. If the AO determines that Xxxxxx has satisfied the terms and conditions of the land use authorization, the performance guaranty will be subject to release. The performance guaranty may only be released in writing by the AO.

Performance Guaranty. Lessee shall provide and maintain a surety bond or other form of security acceptable to DMLW in the amount of $36,700 35,125 payable to the State of Alaska. Such performance guaranty shall remain in effect for the term of this and any subsequent authorization and shall secure performance of Xxxxxx’s obligations hereunder. The amount of the performance guaranty may be adjusted by the AO in the event of approved amendments to this authorization, changes in the Development Plan, or any change in the activities or operations conducted on the premises. The performance guaranty may be utilized by DMLW to cover actual costs incurred by the State of Alaska to pay for any necessary corrective actions in the event the Lessee does not comply with the site utilization, restoration requirements and other stipulations contained in the lease agreement. If the Lessee fails to perform the obligations under the authorization within a reasonable timeframe, the State may perform the Lessee’s obligations at the Lessee’s expense. Xxxxxx agrees to pay within 20 days following demand, all costs and expenses incurred by the State of Alaska as a result of the failure of the Lessee to comply with the terms and conditions of the authorization. Failure to do so may result in the termination of the authorization and/or forfeiture of the performance guaranty. Any provisions of the lease agreement shall not prejudice the State’s right to obtain a remedy under any law or regulation. If the AO determines that Xxxxxx has satisfied the terms and conditions of the land use authorization, the performance guaranty will be subject to release. The performance guaranty may only be released in writing by the AO.

Performance Guaranty. Lessee shall provide and maintain a surety bond or other form of security acceptable to DMLW in the amount of $36,700 12,400 payable to the State of Alaska. Such performance guaranty shall remain in effect for the term of this and any subsequent authorization and shall secure performance of Xxxxxx’s obligations hereunder. The amount of the performance guaranty may be adjusted by the AO in the event of approved amendments to this authorization, changes in the Development Plandevelopment plan, or any change in the activities or operations conducted on the premises. The performance guaranty may be utilized by DMLW to cover actual costs incurred by the State of Alaska to pay for any necessary corrective actions in the event the Lessee does not comply with the site utilization, restoration requirements and other stipulations contained in the lease agreement. If the Lessee fails to perform the obligations under the authorization within a reasonable timeframe, the State may perform the Lessee’s obligations at the Lessee’s expense. Xxxxxx agrees to pay within 20 days following demand, all costs and expenses incurred by the State of Alaska as a result of the failure of the Lessee to comply with the terms and conditions of the authorization. Failure to do so may result in the termination of the authorization and/or forfeiture of the performance guaranty. Any provisions of the lease agreement shall not prejudice the State’s right to obtain a remedy under any law or regulation. If the AO determines that Xxxxxx has satisfied the terms and conditions of the land use authorization, the performance guaranty will be subject to release. The performance guaranty may only be released in writing by the AO.

Performance Guaranty. Lessee shall provide and maintain a surety bond or other form of security acceptable to DMLW in the amount of $36,700 2,500 payable to the State of Alaska. Such performance guaranty shall remain in effect for the term of this and any subsequent authorization and shall secure performance of Xxxxxx’s obligations hereunder. The amount of the performance guaranty may be adjusted by the AO in the event of approved amendments to this authorization, changes in the Development Plan, or any change in the activities or operations conducted on the premises. The performance guaranty may be utilized by DMLW to cover actual costs incurred by the State of Alaska to pay for any necessary corrective actions in the event the Lessee does not comply with the site utilization, restoration requirements and other stipulations contained in the lease agreement. If the Lessee fails to perform the obligations under the authorization within a reasonable timeframe, the State may perform the Lessee’s obligations at the Lessee’s expense. Xxxxxx agrees to pay within 20 days following demand, all costs and expenses incurred by the State of Alaska as a result of the failure of the Lessee to comply with the terms and conditions of the authorization. Failure to do so may result in the termination of the authorization and/or forfeiture of the performance guaranty. Any provisions of the lease agreement shall not prejudice the State’s right to obtain a remedy under any law or regulation. If the AO determines that Xxxxxx has satisfied the terms and conditions of the land use authorization, the performance guaranty will be subject to release. The performance guaranty may only be released in writing by the AO.

Performance Guaranty. Lessee shall provide and maintain a surety bond or other form of security acceptable to DMLW in the amount of $36,700 6,000 payable to the State of Alaska. Such performance guaranty shall remain in effect for the term of this and any subsequent authorization and shall secure performance of Xxxxxx’s obligations hereunder. The amount of the performance guaranty may be adjusted by the AO in the event of approved amendments to this authorization, changes in the Development Plan, or any change in the activities or operations conducted on the premises. The performance guaranty may be utilized by DMLW to cover actual costs incurred by the State of Alaska to pay for any necessary corrective actions in the event the Lessee does not comply with the site utilization, restoration requirements and other stipulations contained in the lease agreement. If the Lessee fails to perform the obligations under the authorization within a reasonable timeframe, the State may perform the Lessee’s obligations at the Lessee’s expense. Xxxxxx agrees to pay within 20 days following demand, all costs and expenses incurred by the State of Alaska as a result of the failure of the Lessee to comply with the terms and conditions of the authorization. Failure to do so may result in the termination of the authorization and/or forfeiture of the performance guaranty. Any provisions of the lease agreement shall not prejudice the State’s right to obtain a remedy under any law or regulation. If the AO determines that Xxxxxx has satisfied the terms and conditions of the land use authorization, the performance guaranty will be subject to release. The performance guaranty may only be released in writing by the AO.

Performance Guaranty. Lessee shall provide and maintain a surety bond or other form of security acceptable to DMLW in the amount of $36,700 88,300 payable to the State of Alaska. Such performance guaranty shall remain in effect for the term of this and any subsequent authorization and shall secure performance of Xxxxxx’s obligations hereunder. The amount of the performance guaranty may be adjusted by the AO in the event of approved amendments to this authorization, changes in the Development Plandevelopment plan, or any change in the activities or operations conducted on the premises. The performance guaranty may be utilized by DMLW to cover actual costs incurred by the State of Alaska to pay for any necessary corrective actions in the event the Lessee does not comply with the site leasehold utilization, restoration requirements and other stipulations contained in the lease agreement. If the Lessee fails to perform the obligations under the authorization within a reasonable timeframe, the State may perform the Lessee’s obligations at the Lessee’s expense. Xxxxxx agrees to pay within 20 days following demand, all costs and expenses incurred by the State of Alaska as a result of the failure of the Lessee to comply with the terms and conditions of the authorization. Failure to do so may result in the termination of the authorization and/or forfeiture of the performance guaranty. Any provisions of the lease agreement shall not prejudice the State’s right to obtain a remedy under any law or regulation. If the AO determines that Xxxxxx has satisfied the terms and conditions of the land use authorization, the performance guaranty will be subject to release. The performance guaranty may only be released in writing by the AO.

Performance Guaranty. Lessee shall provide and maintain a surety bond or other form of security acceptable to DMLW in the amount of $36,700 110,200 payable to the State of Alaska. Such performance guaranty shall remain in effect for the term of this and any subsequent authorization and shall secure performance of Xxxxxx’s obligations hereunder. The amount of the performance guaranty may be adjusted by the AO in the event of approved amendments to this authorization, changes in the Development Plan, or any change in the activities or operations conducted on the premises. The performance guaranty may be utilized by DMLW to cover actual costs incurred by the State of Alaska to pay for any necessary corrective actions in the event the Lessee does not comply with the site utilization, restoration requirements and other stipulations contained in the lease agreement. If the Lessee fails to perform the obligations under the authorization within a reasonable timeframe, the State may perform the Lessee’s obligations at the Lessee’s expense. Xxxxxx agrees to pay within 20 days following demand, all costs and expenses incurred by the State of Alaska as a result of the failure of the Lessee to comply with the terms and conditions of the authorization. Failure to do so may result in the termination of the authorization and/or forfeiture of the performance guaranty. Any provisions of the lease agreement shall not prejudice the State’s right to obtain a remedy under any law or regulation. If the AO determines that Xxxxxx has satisfied the terms and conditions of the land use authorization, the performance guaranty will be subject to release. The performance guaranty may only be released in writing by the AO.