Posting Bond Sample Clauses
The Posting Bond clause requires a party, typically one seeking to enforce or challenge a legal right, to provide a financial guarantee or security deposit. In practice, this means that before certain actions—such as obtaining a court injunction or appealing a decision—can proceed, the party must deposit a specified sum of money or equivalent security with the court or relevant authority. This mechanism ensures that funds are available to cover potential damages or costs if the party's claim is unsuccessful, thereby protecting the opposing party from undue financial harm and discouraging frivolous or unsubstantiated legal actions.
Posting Bond. (a) All Employers must have a current bond on file that is in compliance with this Article. The Administrative Office of the Southern California Floor Covering Trust Funds (hereinafter “Trust Administrative Office”) shall have the authority to verify that each Employer signatory to this Agreement has a bond that is in compliance with this Article.
(b) All Employers who become signatory to the Master Labor Agreement (“MLA”), an Agreement Counterpart to the MLA, or a Participation Agreement, shall post a $10,000.00 indemnity bond through a recognized bonding company or deposit $10,000.00 in cash with the Trust Administrative Office, located at ▇▇▇▇ ▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇, ▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇, phone: (▇▇▇) ▇▇▇-▇▇▇▇ or at such other address designated as the Trust Administrative Office. This Bond shall remain in effect for at least the entire term of this MLA, in accordance with the provisions herein.
(c) The bond or cash is to indemnify workers for Wages, Travel Expense and Subsistence, to indemnify the Union for dues and to indemnify the Trust Funds for Apprenticeship and Training, Health and Welfare, Pension, Vacation/Holiday, Contract Administration and Labor Management Cooperation contributions, liquidated damages, interest (paid in accordance with a rate determined by the Trustee’s), together with any administrative fees, and attorney fees and costs incurred by the Union or Trust Funds to collect the amounts owed (hereinafter together referred to as “Negotiated Payments”).
Posting Bond. The Employer fails to post the indemnity bond or cash bond required under Article VI or the Employer fails to increase the bond as required under Article VI.
Posting Bond. The Employer fails to post the indemnity bond or cash bond required under Article VI or the Employer fails to increase the bond as required under Article VI. A fine of two hundred and fifty dollars ($250.00) shall be assessed for every month that the bond is not in place with the Southern California Floor Covering Trust Fund payable to the Market Recovery Fund.
Posting Bond. (a) All Employers must have a current bond on file that is in compliance with this Article. The Administrative Office of the Southern California Floor Covering Trust Funds (hereinafter “Trust Administrative Office”) shall have the authority to verify that each Employer signatory to this Agreement has a bond that is in compliance with this Article.
(b) All Employers who become signatory to the Master Labor Agreement (“MLA”), an Agreement Counterpart to the MLA, or a Participation Agreement, shall post a $10,000.00 indemnity bond through a recognized bonding company or deposit $10,000.00 in cash with the Trust
(c) The bond or cash is to indemnify workers for Wages, Travel Expense and Subsistence, to indemnify the Union for dues and to indemnify the Trust Funds for Apprenticeship and Training, Health and Welfare, Pension, Vacation/Holiday, Contract Administration and Labor Management Cooperation contributions, liquidated damages, interest (paid in accordance with a rate determined by the Trustee’s), together with any administrative fees, and attorney fees and costs incurred by the Union or Trust Funds to collect the amounts owed (hereinafter together referred to as “Negotiated Payments”).
Posting Bond. Any stay issued to a tenant appealing from a final judgment of eviction should be conditioned upon T posting a bond. The bond may contain conditions the court deems appropriate and should be in an amount sufficient for the payment of costs interest, damages for delay, use or depreciation of the property. Fla.
Posting Bond. The union may require a bond sufficient to cover music preparation wages, pension and health benefit costs whenever such costs are anticipated to exceed $5,000.