Retention Bond definition

Retention Bond shall have the meaning set forth in Section 21.1.
Sample 1Sample 2
Retention Bond means the unconditional, irrevocable and on-demand bond to be furnished by the Contractor in favour of the Purchaser for an amount equal to 5% (five percent) of the Contract Price, valid from the date of Final Performance Acceptance until the issuance of the Defects Liability Certificate) and in the form set forth in Appendix 22 hereof, issued by an internationally recognised first class bank acceptable to the Purchaser immediately on Final Performance Acceptance and simultaneous to the release of the Performance Bond.;
Sample 1Sample 2
Retention Bond means an on demand bond issued by a Qualifying Issuer in favour of the Project Company in a form acceptable to the Project Company as security for performance of the Installation Contractor's obligations under this Agreement.
Sample 1

Examples of Retention Bond in a sentence

  • Subject to Clause 4.3 (Retention Amount and Retention Bond), the Project Company shall deduct the Retention Amount from any interim payment of the Price.

  • In the event of a drawing under Clause 4.3(e)(i), the Project Company shall retain the drawings by way of security until such time as the Project Company receives the extended or replacement Retention Bond.

  • The Sub-contractor retains the entitlement to issue a Retention Bond in lieu of cash retentions.

  • The Surety Retention Bond will be in a form and substance acceptable to both Parties.

  • I reject the Bank's request for summary judgment for interest at the rate reserved under the Debenture given the real likelihood that the putative agreement between the Bank and the Company with respect to the Retention Bond might have addressed the issue of interest.

  • The Surety Retention Bond shall expire upon completion of the mutually agreed upon punch list.

  • The Consultant shall retain from the contractors payment an amount of money equaling not less than 2½% of the total contract price for roads and drainage as and by way of a Maintenance Retention Bond.

  • On the occurrence of the Commercial Operation Date: if the Installation Contractor has provided the Project Company with a Retention Bond: the Retention Bond may automatically reduce in value to the Retention Limit applicable at that time; or the Installation Contractor may provide a replacement Retention Bond to the Project Company for the value of the Retention Limit applicable at that time.

  • The Purchaser may retain or withhold such sums until such time that a Retention Bond for the remaining period or requisite amount is provided or the Retention Bond is no longer required under the provisions of the Contract.

  • The Installation Contractor must deliver the extended or replacement Retention Bond to the Project Company not later than: in the event of expiry or cessation, the tenth (10th) Business Day prior to the date of expiry or cessation of the original Retention Bond; and in the event of the issuer ceasing to be a Qualifying Issuer, the tenth (10th) Business Day after Project Company's written request for a replacement Retention Bond.


More Definitions of Retention Bond

Retention Bond has the meaning given to it in the Xxxxxx Construction Contract;
Sample 1
Retention Bond has the meaning given to it in the Ecodeco Construction Contracts;
Sample 1
Retention Bond means the bond in the form attached at Schedule Part 19 by [INSERT SURETY] in favour of the Authority
Sample 1
Retention Bond means for each Phase a validly executed bond by a bank or insurance company acceptable to and previously approved in writing by SFT and the Local Authority in the same or substantially similar form to that set out in Part 11 of the Schedule; Schedule means the Schedule (comprising 11 Parts) attached to this Agreement; Settlement Date means in respect of a Phase, the date upon which the Developer provides the last of the Settlement Items to the Development Vehicle; Settlement Items means in respect of a Phase which is Practically Complete, the items listed at Paragraph 2 of Part 6 of the Schedule; Site means the site(s) specified in Part 2 of the Schedule; Snagging means minor defects, deficiencies or omissions of a snagging nature which do not prevent a Phase from being Practically Complete;
Sample 1
Retention Bond means a retention bond provided from time to time by the Infraco to tie pursuant to Clause 74 (Bonds Parent Company Guarantees and Collateral Warranties), and which shall be substantially in the form set out in Part B of Schedule Part 8 (Bonds, Parent Company Guarantees and Collateral Warranties) issued by a surety approved by tie in advance in writing, such approval not to be unreasonably withheld or delayed;
Sample 1
Retention Bond means t he r etention bond w hich t he C ontractor i s r equired t o i ssue t o the Employer pursuant to Section 14.9 below.
Sample 1

Related to Retention Bond

  • Payment Bond is one executed in connection with a contract to assure payment as required by law of all persons supplying labor and material in the execution of the work provided for in the contract.

  • Transition bonds means bonds, notes, certificates of

  • Performance Bond means the financial security for performance a USF Service Provider must furnish in accordance with section 54 of this RFA;

  • Global Bond means the Original Global Bond and/or as the context may require any other global bond or global bonds representing Further Bonds or any of them;

  • Option Bonds means Current Interest Bonds, which may be either Serial or Term Bonds, which by their terms may be tendered by and at the option of the Owner for purchase prior to the stated maturity thereof.

  • Transition bond charge means a charge, expressed as an

  • Performance Bank Guarantee/ Security Deposit means interest free amount to be deposited by the Contractor with NMRC as per terms and conditions of Contract Agreement as a security against the performance of the Contract agreement

  • covered bond means a debt security issued by any member of the banking group, for which repayment to holders is guaranteed by a SPV, and investors retain an unsecured claim on the issuer.

  • Initial Bond means any Bond issued on the First Issue Date. “Initial Bond Issue” has the meaning set forth in Clause 2.1.

  • Global Capital Security means a Capital Securities Certificate evidencing ownership of Book-Entry Capital Securities.

  • Performance Bank Guarantee means the irrevocable unconditional bank guarantee to be submitted by the successful bidder as per Section 3.9.

  • Completion Bonds means Bonds issued pursuant to a Supplemental Indenture ranking on parity with the Series of Bonds issued under such Supplemental Indenture, the proceeds of which are to be used to complete the Project.

  • Guarantee Payment means any payment made by a Guarantor pursuant to a Guarantee Agreement in respect of a Trust Student Loan.

  • Capital Security means an undivided beneficial interest in the assets of the Issuer Trust, having a Liquidation Amount of $1,000 and having the rights provided therefor in this Trust Agreement, including the right to receive Distributions and a Liquidation Distribution as provided herein.

  • Global Preferred Security means a Preferred Securities Certificate evidencing ownership of Book-Entry Preferred Securities.

  • Senior Bonds means all Bonds issued as Senior Bonds in compliance with the provisions of the Indenture.

  • 2024 Notes means the 7.000% Senior Notes due 2024, issued pursuant to the 2024 Indenture.

  • Capital Appreciation Bonds means Bonds issued under this Master Indenture and any Supplemental Indenture as to which interest is compounded periodically on each of the applicable periodic dates designated for compounding and payable in an amount equal to the then-current Accreted Value only at the maturity or earlier redemption thereof, all as so designated in a Supplemental Indenture of the Issuer providing for the issuance thereof.

  • Book-Entry Capital Security means a Capital Security, the ownership and transfers of which shall be made through book entries by a Clearing Agency as described in Section 5.11.

  • Replacement Bonds means Bonds issued to the Beneficial Owners of the Bonds in accordance with Section 210 hereof.

  • Rule 144A Global Covered Bond means a Registered Global Covered Bond representing Covered Bonds sold in the United States to QIBs in reliance on Rule 144A;

  • Regulation S Global Covered Bond means a Registered Global Covered Bond representing Covered Bonds sold outside the United States in reliance on Regulation S;

  • Escrowed Bonds means Municipal Obligations that (i) have been determined to be legally defeased in accordance with S&P’s legal defeasance criteria, (ii) have been determined to be economically defeased in accordance with S&P’s economic defeasance criteria and assigned a rating of AAA by S&P, (iii) are not rated by S&P but have been determined to be legally defeased by S&P or (iv) have been determined to be economically defeased by S&P and assigned a rating no lower than the rating that is S&P equivalent of S&P’s AAA rating. In the event that a defeased obligation which is an S&P Eligible Asset does not meet the criteria of an Escrowed Bond, such Municipal Obligation will be deemed to remain in the Issue Type Category into which it fell prior to such defeasance.

  • Related Bond means, in respect of an Inflation Index, the bond specified as such in the applicable Final Terms. If the Related Bond specified in the applicable Final Terms is "Fallback Bond", then, for any Related Bond determination, the Calculation Agent shall use the Fallback Bond. If no bond is specified in the applicable Final Terms as the Related Bond and "Fallback Bond: Not Applicable" is specified in the applicable Final Terms, there will be no Related Bond. If a bond is specified as the Related Bond in the applicable Final Terms and that bond redeems or matures before the End Date (i) unless "Fallback Bond: Not Applicable" is specified in the applicable Final Terms, the Calculation Agent shall use the Fallback Bond for any Related Bond determination and (ii) if "Fallback Bond: Not Applicable" is specified in the applicable Final Terms, there will be no Related Bond.

  • Notional Amount Certificates As specified in the Preliminary Statement.

  • Prior Bonds means the assessment bonds that are refunded in part or in whole by refunding assessment bonds.