Bonded Contract definition

Bonded Contract means any existing or future contract in respect of which any Bond is issued on behalf of any Principal.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Bonded Contract means any prepetition or postpetition contract under which a Debtor has contracted to provide goods, services, materials or equipment, and for which a Surety has provided a Bond.

Bonded Contract means the contracts listed on Schedule 5.18 and any future contract in respect of which any Surety Bond is issued on behalf of any Borrower.

Examples of Bonded Contract in a sentence

• No Loan Party is subject to any Bonded Contract except as disclosed on Schedule 5.33 to the Information Certificate.

• Within thirty (30) days after the last day of each calendar month, a report detailing the issuance of each Bonded Contract in the prior month, including a description of the specific job for which such Bonded Contract is issued, the amount of such Bonded Contract and the Loan Party or Person to whom such Bonded Contract is issued.

• Upon the occurrence of any Event of Default, in addition to other remedies provided herein, Surety is authorized and empowered, but is not obligated to take possession of the Work under any Bonded Contract and at the expense of Indemnitor to complete or to contract for the completion of the same, or to consent to the reletting of the completion thereof by, or to take such other steps as in the discretion of Surety may be advisable or necessary to obtain its release or to avoid Surety Loss.

• Prior to an occurrence of an Event of Default, except as may be required by the provisions of any Bond, Bonded Contract, or applicable statute, Surety may not amend or otherwise modify any provision of any Bond except with the consent of Principal or Integrated Electrical Services, Inc.

• Indemnitors represent and agree with Surety that the Collateral, the Existing Pledged Collateral, the Indemnity Agreement, and any collateral and assurances provided for in the Surety Credit Documents is insufficient for purposes of providing adequate assurance of future performance to Surety with respect to any Bonded Contract assumed by such Indemnitor pursuant to Section 365 of the Bankruptcy Code.

More Definitions of Bonded Contract

Bonded Contract means a contract entered by a Subsidiary Loan Party in the ordinary course of business with a customer for the provision, lease or sale to such customer of equipment, software, products or services in connection with which a Surety Bond has been issued by a surety to support a Subsidiary Loan Party’s obligation under such contract.

Bonded Contract means any Government Contract, or any task order issued under or in connection with a Government Contract, with respect to which the Borrower’s performance is guaranteed by a performance bond issued by a surety company.

Bonded Contract has the meaning specified in the Surety Intercreditor Agreement.

Bonded Contract means an agreement of Indemnitors, or any other indemnitor under any of the Indemnity Agreements, for which Surety executes a Bond, procures a Bond, assumed the obligations of a Bond, or has guaranteed performance.

Bonded Contract means any Contractual Obligation, or any task order issued under or in connection with a Contractual Obligation, with respect to which the Borrower’s or its Subsidiaries’ payment, performance or other obligations are guaranteed by a bond issued by a surety company.

Bonded Contract means any and all contracts of the Acquired Companies now or hereinafter bonded by Travelers or its affiliate companies for the benefit of any Acquired Company; “Bonded Contracts” means the collective reference to all Bonded Contracts.

Bonded Contract means, with respect to the Company or any Subsidiary of the Company, any construction contract of the Company or such Subsidiary with respect to which (i) a surety bond is required to be issued in connection with such construction contract and (ii) a Surety has issued such Surety Bond for the benefit or account of the Company or such Subsidiary.