Handback Bond definition

Handback Bond has the meaning given in Schedule Part 18 (Handback Procedure);
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Handback Bond means the performance guarantee provided by the Company pursuant to Clause 18.1;
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Examples of Handback Bond in a sentence

  • Any failure of the Developer to procure the provision of the Handback Bond shall entitle the Grantor to terminate this Agreement on 30 days' written notice.

  • In the event that the Developer fails to make such payment the Grantor shall be entitled to recover such payment by way of a demand under the Handback Bond and by action against the Developer.

  • The Hand-back Bond shall permit the Contracting Authority to make calls on the Hand-back Bond for any claims for costs, losses, expenditure or damages following the transfer of assets on the Expiry Date or Termination Date; and the Hand-back Bond shall be released six (6) months after the Expiry Date or the Termination Date.

  • Also the Hand-back Bond shall be issued in an amount which would be equal to 5 % of the Capital Cost i.e. TZS [ ] million.

  • Such payment shall be made not later than fourteen (14) days after the estimated cost has been agreed or determined and, upon such payment being received by the Grantor, the Grantor's Representative shall issue the Handback Certificate and return the Handback Bond to the Developer.

  • The Hand-back Bond shall permit the Implementing Authority to make calls on the Hand-back Bond for any claims for costs, losses, expenditure or damages following the transfer of assets on the Expiry Date or Termination Date; and the Hand-back Bond shall be released six (6) months after the Expiry Date or the Termination Date.

  • Executive shall perform his duties under this Agreement principally out his personal residence in Delaware.