Payment and Performance Bonds definition
Payment and Performance Bonds means separate performance and labor and material payment bonds with respect to the Construction Contracts and in the full amount of Construction Contracts.
Payment and Performance Bonds means dual-obligee payment and performance bonds relating to each Major Contractor other than the General Contractor, issued by a surety company or companies and in form and content reasonably acceptable to Lender, in each case in an amount not less than the full contract price, together with a dual obligee and modification rider in form reasonably acceptable to Lender which shall be attached thereto.
Payment and Performance Bonds means each of the Payment Bond and Performance Bond. “Payment Bond” has the meaning set forth in Section 26.2.2.
Examples of Payment and Performance Bonds in a sentence
Tenant shall cause the Payment and Performance Bonds, together with a memorandum of the applicable construction contract, to be recorded in the Real Property Records.
Gov’t Code § 2252.909(c), including, without limitation, a written acknowledgement from the contractor stating that copies of the Payment and Performance Bonds will be provided to all subcontractors not later than the fifth day after the date a subcontract is executed (the “Required Notice”).
Ground Lessor will waive the 90-day waiting period after receipt of the Required Notice, if Subtenant delivers evidence to Ground Lessor that the Payment and Performance Bonds have been properly recorded in the Real Property Records.
GOV’T CODE § 2252.909(c), including, without limitation, a written acknowledgement from the contractor stating that copies of the Payment and Performance Bonds will be provided to all subcontractors not later than the fifth day after the date a subcontract is executed (the “Required Notice”).
L▇▇▇▇▇▇▇ agrees to waive the 90-day waiting period after receipt of the Required Notice, if T▇▇▇▇▇ delivers evidence to Landlord that the Payment and Performance Bonds have been properly recorded in the Real Property Records.
More Definitions of Payment and Performance Bonds
Payment and Performance Bonds means dual-obligee payment and performance bonds (or a letter of credit in lieu of such bonds) relating to the Contractor (or, if required by Controlling Person, each contractor that enters into a Major Contract with Borrower), issued by a surety company or companies authorized to do business in the State and acceptable to Controlling Person, and in form and content reasonably acceptable to Controlling Person, in each case in an amount not less than the full contract price; together with a dual obligee and modification rider naming the Funding Lender and the Controlling Person and in the form and substance acceptable to Controlling Person which shall be attached thereto.
Payment and Performance Bonds has the meaning provided in Section 3.1(p) of this Agreement.
Payment and Performance Bonds has the meaning given in Section 5.06 hereof.
Payment and Performance Bonds means triple-obligee payment and performance bonds in favor of Borrower, General Contractor and Agent in form reasonably satisfactory to Agent, and in each case issued by a surety company or companies reasonably acceptable to Agent or, at Borrower’s election, a subguard insurance policy in form and substance satisfactory to Agent.
Payment and Performance Bonds has meaning set forth in Section 11.6. “Performance Guarantee” has the meaning set forth in Section 11.3(a). “Performance Liquidated Damages” has the meaning set forth in Section 11.3(b). “Performance Liquidated Damages Limitation” has the meaning set forth in Section 11.4(c). “Performance Requirements” means the performance requirements set forth in Exhibit D that the ESS must meet in order to achieve Substantial Completion. “Performance Tests” means actions taken as described in Article X and Exhibit D to verify the performance of the Project, including whether the Performance Requirements have been achieved. “Person” means an individual, partnership, corporation, limited liability company, company, business trust, joint stock company, trust, unincorporated association, joint venture, Government Authority or other entity of whatever nature. “Personnel” means Contractor’s and its Subcontractor’s employees, temporary personnel, day laborers, agents and representatives involved in the performance of Contractor’s obligations under the Agreement. “Pre-Existing Hazardous Material” means Hazardous Material that existed on or in the Property Site prior to Initial Site Mobilization by Contractor. “Procurement Agent” means the procurement agent for Company or its Affiliate, as the case may be, responsible for a Purchase Order. “Prohibited Items” means any pyrotechnics, explosives, firearms, weapons, alcoholic beverages, illegal drugs, or any items associated with those items. “Project” means the ESS and all equipment, services and utilities related thereto which must be completed as part of the Statement of Work, all of which Contractor guarantees shall be designed, constructed, assembled, erected, commissioned, started, tested and otherwise completed by, or through, Contractor in strict accordance with the provisions of the Contract Documents. “Project Schedule” means the schedule for completion of the Work developed and maintained by Contractor, provided to Company, including all scheduled activities and durations required to perform the Work attached hereto as Exhibit A and provided electronically to Company in the format and frequency required in Exhibit A, or any time upon Company’s request. “Property Site” means that certain piece of real property located in such places as may be identified by Company in the Notice to Proceed.
Payment and Performance Bonds means bonds complying with Section 6.3
Payment and Performance Bonds means those payment and performance bonds required to be secured and maintained by the Subcontractors (except for the Design Engineer) in accordance with Section 10.2, in a form approved in writing by the County.