Bondable Work definition
Bondable Work means any work undertaken by Tenant on the Premises or consisting of Tenant’s Work, as defined hereinafter, the cost of which (as determined by the total contract price for the work planned by the Tenant) is in the aggregate greater than $250,000.
Examples of Bondable Work in a sentence
Tenant shall deliver to Landlord a payment bond in an amount equal to 100% of the aggregate costs and expenses of “Bondable Work” as hereinafter defined, guaranteeing prompt payment of monies due to all persons furnishing labor or materials for such Bondable Work.
All repairs undertaken by Tenant costing in excess of $250,000.00 shall be Bondable Work as such work is defined in Article 11.