Common use of Return of Letter of Credit Clause in Contracts

Return of Letter of Credit. The Letter of Credit will be returned within 90 Days after the end of the term of this Agreement, provided that Contractor has faithfully performed throughout the life of the Agreement, Contractor has completed its obligations under the Agreement, there are no pending claims involving Contractor's performance under the Agreement and no outstanding disagreement about any material aspect of the provisions of this Agreement. In the event this Agreement is assigned, as provided for in Section 4.5, City will return or release the Letter of Credit not later than the effective date of the assignment, provided that the assignee has delivered to the City an equivalent Letter of Credit, as determined by City.

Return of Letter of Credit. The Letter letter of Credit credit will be returned within 90 Days after the end of the term of this Agreement, provided that Contractor has faithfully performed throughout the life of the Agreement, Contractor has completed its obligations under the Agreement, there are no pending claims involving Contractor's performance under the Agreement and no outstanding disagreement about any material aspect of the provisions of this Agreement. In the event this Agreement is assigned, as provided for in Section 4.530, City will return or release the Letter letter of Credit credit not later than the effective date of the assignment, provided that the assignee has delivered to the City an equivalent Letter letter of Creditcredit, as determined by City.

Return of Letter of Credit. The Letter letter of Credit credit will be returned within 90 Days after the end of the term of this Agreement, as defined in Article 2, provided that Contractor has faithfully performed throughout the life of the Agreement, Contractor has completed its obligations under the Agreement, there are no pending claims involving Contractor's performance under the Agreement and no outstanding disagreement about any material aspect of the provisions of this Agreement. In the event this Agreement is assigned, as provided for in Section 4.5, City will return or release the Letter letter of Credit credit not later than the effective date of the assignment, provided that the assignee has delivered to the City an equivalent Letter letter of Creditcredit, as determined by City.