Bonded Contract definition

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

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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 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.

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.
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.
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.
All monies due and to become due under any Bonded Contract are also trust funds, whether in the possession of Indemnitors, or otherwise.
Indemnitors stipulate that in the event that the cost to fully perform the obligations and services required under a Bonded Contract exceeds the remaining amounts payable under such Bonded Contract, then such Bonded Contract is not necessary to an effective reorganization of Indemnitors within the meaning of Section 362 of the Bankruptcy Code.

More Definitions of Bonded Contract

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.

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

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 means the contracts listed on Schedule 3.25 and any future contract in respect of which any Surety Bond is issued on behalf of any Loan Party.

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 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 contract referred to or described in any Bond issued by Surety on behalf of Contractor.