Guaranty Bonds definition
Guaranty Bonds means First Mortgage Bonds of a series issued under the Guarantor’s Open-End Mortgage, General Mortgage Indenture and Deed of Trust, dated as of June 1, 2009 (as amended and supplemented from time to time, the “Indenture”), to The Bank of New York Mellon Trust Company, N.A, as trustee (the “Trustee”), which Guaranty Bonds shall be substantially in the form attached hereto as Exhibit A. Each Guaranty Bond delivered pursuant to this Guaranty from time to time by the Guarantor shall be in a maximum principal amount of not less than $250 million; provided, however, that the initial Guaranty Bond delivered pursuant to this Guaranty shall be in a maximum principal amount of no less than $500 million.
Examples of Guaranty Bonds in a sentence
In order to be acceptable to the County, a Surety Company issuing Evidence of Bondability, Bid Guaranty Bonds or 100% Public Payment and Performance Bonds or Letters of Credit called for herein shall meet and comply with the minimum standards set forth in as part of the Contract Documents.
In order to be acceptable to the County, a Surety Company issuing Evidence of Bond ability, Bid Guaranty Bonds or 100% Public Payment and Performance Bonds or Letters of Credit called for herein shall meet and comply with the minimum standards set forth in as part of the Contract Documents.