SURETY OBLIGATION Sample Clauses

SURETY OBLIGATION. If Contractor does not faithfully construct and complete said work, as defined in the Scope of Work under its contract with City, and City invokes its contractual rights and declares Contractor in default, Surety promptly shall remedy the default and, at City’s sole option, Surety shall:
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SURETY OBLIGATION. Surety’s obligation under this Bond is for the benefit and sole protection of all persons supplying labor, services, materials and equipment in the prosecution of said Contract. Surety’s obligation to the Claimant(s) shall not exceed the Bond Sum. THIS BOND is entered into this day of , 20 . SURETY (seal) CONTRACTOR By: By: (Signature) (Signature) (Print Name) (Print Name) (Print Title) (Print Title) [ATTACH POWER OF ATTORNEY] [Additional signatures, if any, appear on attached page] ATTEST: ATTEST:
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SURETY OBLIGATION. The obligation of the surety will be that the Institution, its officers, agents, and employees will faithfully perform the terms and conditions of its application to participate in XXXX; and conform to the standards and requirements required for participation in XXXX.
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SURETY OBLIGATION a Surety Obligation of a Transaction Party is not discharged within 5 days of:
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SURETY OBLIGATION x Xxxxxx Obligation is enforceable against a Campbell Group Member;
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SURETY OBLIGATION. Graystone Quarry shall initially maintain a Two Hundred Thousand Dollar ($200,000.00) performance bond (the “Bond”) on the Roads, for both Infrastructure Maintenance and Cost Reimbursement, securing and guaranteeing the same for the Term of this Agreement. The Bond shall be adjusted based upon the Infrastructure Maintenance planned and/or needed during the term of this Agreement based upon the traffic study and engineering report as outlined in Section 11 below. Additionally, the Bond shall be reduced thereafter based upon the completion of any of the aforementioned Infrastructure. Graystone Quarry shall provide Xxxxxxxx’x Station, upon demand, proof of the Bond. In the event Graystone Quarry fails to provide proof of the Bond, fails to reimburse Xxxxxxxx’x Station for the Infrastructure Maintenance, or breaches this Agreement in any form or manner, Xxxxxxxx’x Station shall have the unequivocal and unilateral right to call the Bond to cover all Infrastructure Maintenance expenses and related costs.
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Related to SURETY OBLIGATION

  • Surety Obligations No Borrower or Subsidiary is obligated as surety or indemnitor under any bond or other contract that assures payment or performance of any obligation of any Person, except as permitted hereunder.

  • Guaranty Obligations Unless otherwise specified, the amount of any Guaranty Obligation shall be the lesser of the principal amount of the obligations guaranteed and still outstanding and the maximum amount for which the guaranteeing Person may be liable pursuant to the terms of the instrument embodying such Guaranty Obligation.

  • Insurance Obligation During the Term of this Master Contract, Contractor shall possess and maintain in full force and effect, at Contractor’s sole expense, the following insurance coverages:

  • One Obligation The Loans, LC Obligations and other Obligations shall constitute one general obligation of Borrowers and (unless otherwise expressly provided in any Loan Document) shall be secured by Agent’s Lien upon all Collateral; provided, however, that Agent and each Lender shall be deemed to be a creditor of, and the holder of a separate claim against, each Borrower to the extent of any Obligations jointly or severally owed by such Borrower.

  • Insurance Obligations Borrower fails to promptly perform or comply with any of the covenants contained in the Loan Documents with respect to maintaining insurance, including the covenants contained in Section 4.4.

  • Litigation and Contingent Obligations There is no litigation, arbitration, governmental investigation, proceeding or inquiry pending or, to the knowledge of any of their officers, threatened against or affecting the Borrower or any of its Subsidiaries which could reasonably be expected to have a Material Adverse Effect or which seeks to prevent, enjoin or delay the making of any Loans. Other than any liability incident to any litigation, arbitration or proceeding which could not reasonably be expected to have a Material Adverse Effect, the Borrower has no material contingent obligations not provided for or disclosed in the financial statements referred to in Section 5.4.

  • Third Party Obligations 3.1. The THIRD PARTY shall:-

  • Direct Obligation Neither Agent nor any other Secured Party shall be required to make any demand upon, or pursue or exhaust any right or remedy against, any Grantor, any other Credit Party or any other Person with respect to the payment of the Obligations or to pursue or exhaust any right or remedy with respect to any Collateral therefor or any direct or indirect guaranty thereof. All of the rights and remedies of Agent and any other Secured Party under any Loan Document shall be cumulative, may be exercised individually or concurrently and not exclusive of any other rights or remedies provided by any Requirement of Law. To the extent it may lawfully do so, each Grantor absolutely and irrevocably waives and relinquishes the benefit and advantage of, and covenants not to assert against Agent or any other Secured Party, any valuation, stay, appraisement, extension, redemption or similar laws and any and all rights or defenses it may have as a surety, now or hereafter existing, arising out of the exercise by them of any rights hereunder. If any notice of a proposed sale or other disposition of any Collateral shall be required by law, such notice shall be deemed reasonable and proper if given at least 10 days before such sale or other disposition.

  • Company Obligations The Company will use commercially reasonable efforts to effect the registration of the Registrable Securities in accordance with the terms hereof, and pursuant thereto the Company will, as expeditiously as possible:

  • City Obligations 26.1 City shall provide full information in a timely manner regarding requirements for and limitations on projects and work tasks. With regard to subcontractor liens, City shall furnish to Engineer, within fifteen (15) days after receipt of a written request, information necessary and relevant for Engineer to evaluate, give notice of, or enforce lien.

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