Bonded Project definition

Bonded Project means any Construction Agreement, the performance of which is secured or otherwise insured by a Bond.

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Bonded Project means any project being undertaken by the Company or a Subsidiary Guarantor with respect to which the Company or such Subsidiary Guarantor has provided a performance bond or comparable Surety Instrument to or for the benefit of the Person for whom such project is being undertaken.

Examples of Bonded Project in a sentence

• No Credit Party shall (or shall permit any Subsidiary to) enter into any Joint Venture (or consummate any of the transactions contemplated thereunder or therewith) which is pursuing a Project other than a Bonded Project, without the prior written consent of the Required Lenders.

• As security for Client's obligations under the Prestige Agreements, Client intends to grant Prestige a security interest in and lien upon Client's right, title and interest in and to the specific Client Accounts that Client sells and assigns to Prestige under the Purchase Agreement (collectively, the "Assigned Accounts") and all other Client Accounts, excepting thereout and therefrom the Bonded Project Accounts (the foregoing collateral is hereinafter collectively the "Prestige Collateral").

• On a weekly basis, Indemnitors shall provide to Surety a cash flow report for each Bonded Project and for any other project for which funding may be provided by Surety.