Replacement Performance Bond definition

Replacement Performance Bond means any performance bond issued or to be issued following the issue of the Initial Performance Bond by a Bond Provider to the Secretary of State which complies with the requirements of paragraph 4.2 of Schedule 12 (Financial Covenants and Bonds);
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Replacement Performance Bond has the meaning given to such term in Clause 7.2 (Issue of Replacement Performance Bonds).
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Replacement Performance Bond means the fleet of new Class 345 trains introduced to replace all or part of the Crossrail Fleet (as the case may be); means any performance bond issued or to be issued following the issue of the Initial Performance Bond by a Bond Provider to the Secretary of State which complies with the requirements of paragraph 4.2 of Schedule 12 (Financial Covenants and Bonds);
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Examples of Replacement Performance Bond in a sentence

  • The Original Borrower and each Replacement Tranche B Bank hereby authorises the Facility Agent to issue Replacement Performance Bonds pursuant to this Clause 7 by completing the Issue Date and delivering such Replacement Performance Bond to the Registry on behalf of the Beneficiary on the Issue Date relating thereto.

  • In such event, ExxonMobil: (A) shall execute such Replacement Performance Bond within fifteen (15) days after it is provided to ExxonMobil by Principal and the replacement Surety, and (B) release and discharge any prior Performance Bond and the obligations of Buyer and the surety thereunder.

  • However, it is expressly agreed that the Penal Sum of the Performance Bond (and Replacement Performance Bond, if applicable) shall not be reduced or affected in any way by any area wide, base or general bonds (including a State of Alabama Oil & Gas Board operator blanket bond) that Buyer may provide to the Regulator.


More Definitions of Replacement Performance Bond

Replacement Performance Bond means the [bank’s guarantee] [surety bond] [Performance Bond] stipulated in Section 4.8.2.
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