Common use of Surety Bond Clause in Contracts

Surety Bond. The City hereby accepts the Bank's current blanket bond for lost, stolen or destroyed Securities (and any future substitute blanket bond for lost, stolen or destroyed Securities that the Bank may arrange with sufficient coverage to protect the City in the opinion of the Bank) and agrees that the coverage under any such blanket bond is acceptable to it and meets the City's requirements as to security or indemnity. The Bank need not notify the City of any changes in the security or other company giving such bond or the terms of any such bond. The blanket bond then utilized for the purpose of lost, stolen, or destroyed certificates by the Bank is available for inspection by the City on request.

Surety Bond. The City hereby accepts the Bank's ’s current blanket bond for lost, stolen or destroyed Securities (certificates and any substantially similar future substitute blanket bond for lost, stolen or destroyed Securities certificates that the Bank may arrange with sufficient coverage to protect the City in the opinion of the Bank) arrange, and agrees that the coverage under any such blanket bond is acceptable to it and meets the City's ’s requirements as to security or indemnity. The Bank need not notify the City of any changes in the security bond or other company giving such bond bond, or the terms of any such bond. The blanket bond then utilized by the Bank for the purpose of lost, stolen, stolen or destroyed certificates by the Bank is available for inspection by the City on upon request.

Surety Bond. The City hereby accepts the Bank's current blanket bond for lost, stolen or destroyed Securities Obligations (and any future substitute blanket bond for lost, stolen or destroyed Securities Obligations that the Bank may arrange with sufficient coverage to protect the City in the opinion of the Bank) and agrees that the coverage under any such blanket bond is acceptable to it and meets the City's requirements as to security or indemnity. The Bank need not notify the City of any changes in the security or other company giving such bond or the terms of any such bond. The blanket bond then utilized for the purpose of lost, stolen, or destroyed certificates by the Bank is available for inspection by the City on request.