Performance Bonds definition

Performance Bonds means the assets made available to the Clearing House by each Clearing Member as security for its obligations to the Clearing House pursuant to CME Rule 820, CBOT Rule 820, NYMEX Rule 820 or any other similar Rule, as applicable.

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Performance Bonds has the meaning specified in Section 7.03(d).

Performance Bonds means the performance bond(s) to be provided by the Seller for the amount equal to 10% (ten percent) of the Purchase Amount of each affected Goods which must comply substantially with Annexure “F“ hereto and provided always that the aggregate of all the Performance Bonds will amount to 10% (ten percent) of the Purchase Amount;

Examples of Performance Bonds in a sentence

• In Texas, Performance Bonds are required when the project is valued at greater than $100,000 and Payment Bonds on jobs over $25,000.

• Should the Bid, Payment and Performance Bonds be issued by co-sureties, each surety listed on the bond shall meet the requirements in paragraphs a.

• Payment and Performance Bonds are required on all Public Works Improvement Projects per the ISPWC and the City of Meridian Supplemental Specifications & Drawings to the ISPWC, which by this reference are made a part hereof.

• Pursuant to CME Rule 817, CBOT Rule 817, NYMEX Rule 817 and any other similar Rules, as applicable, the Company has the authority, as Member Attorney-in-Fact on behalf of the Clearing Members, to cause the Performance Bonds of Clearing Members to be subject to the Lien of the Collateral Documents to secure the Secured Obligations (it being understood that only those Security Deposits and Performance Bonds which are Eligible Assets shall be pledged under the Collateral Documents).

• On signing this contract Contractor shall deliver to Public Agency for approval good and sufficient Payment and Performance Bonds with sureties, in amount(s) specified in the specifications or special provisions, guaranteeing Contractor’s faithful performance of this contract and Contractor’s payment for all labor and materials hereunder.

More Definitions of Performance Bonds

Performance Bonds means performance bonds granted to the Company and its Restricted Subsidiaries in connection with bidding processes for, or acquiring, licensed casino projects.

Performance Bonds means: (a) those bonds posted by Contractor or Builder with the City, the County or the Approving Authorities (as defined below) to complete the Work; and (b) all warranties, bonds and other financial assurances required to obtain final acceptance and approval of the Work. In connection therewith, if Owner has not obtained Replacement Performance Bonds within one hundred twenty (120) days following the Termination Date, Contractor may (without limitation) take such actions as are necessary to reduce and release any Performance Bond at commercially reasonable times and in a commercially reasonable manner, and Owner shall cooperate with Contractor, as reasonably requested by Contractor, in such efforts. To the extent Contractor is required to incur any expense in connection with the Performance Bonds after the Termination Date, Owner shall reimburse Contractor for such expense within five (5) business days of Contractor’s demand, and (ii) in all cases Owner shall reimburse Contractor for draws or demands on Performance Bonds to the extent such draws are not related to any Work that was defective. On and after the Termination Date, Owner shall indemnify, defend and hold harmless Contractor (and Contractor’s members, managers, partners, shareholders, employees, directors, officers, agents, affiliates, successors and assigns) from any loss, damage, expense, suit or action as a result of: (a) any claims against the Performance Bonds relating to Work performed or to be performed on and after the Termination Date; and (b) Owner’s failure to timely deliver the Replacement Performance Bonds and obtain a corresponding exoneration of Contractor’s Performance Bonds.

Performance Bonds means the assets deposited with the Clearing House by each Clearing Member as security for its obligations to the Clearing House pursuant to CME Rule 820.

Performance Bonds means any performance bonds and labor and material payment bonds as to the General Contractor and any other Contractor (and any of their respective subcontractors) as may be reasonably required by the Agent, each of which shall name the Lessor and the Agent as additional obligees.

Performance Bonds shall have the meaning set forth in Section 3.25.

Performance Bonds has the meaning specified in Section 5.09(a).

Performance Bonds means performance bonds, surety bonds, bid bonds, completion guarantees and similar instruments, (y) “Applicable Performance Bonds” means (i) those Performance Bonds that are outstanding as of the date of the Third Amendment to this Agreement, including those set forth on Schedule 5.29 of the Stockholder Disclosure Schedule and (ii) those Performance Bonds required by any Contract entered into in connection with the IVU Lotto Proposal and (z) “Underlying Performance Bond Obligations” means those Contracts which (i) any Company is a party to or is bound and (ii) require the issuance of the Applicable Performance Bonds or Laws, as such Contract may be amended, supplemented, extended, renewed or replaced without giving effect to any changes in respect of the obligations to provide Performance Bonds thereunder which are adverse to Stockholder.”