Seller Bonds shall have the meaning set forth in Section 7.10.
Seller Bonds means those deposits, letters of credit, trust funds, bid bonds, performance bonds, reclamation bonds and surety bonds (and all such similar undertakings) set forth on Schedule 1.1(c).
Seller Bonds each have the meaning given in Section 2.2(m).
Examples of Seller Bonds in a sentence
Likewise, upon Purchaser’s or Affiliates performance of the Final Decommissioning for the entire Unit, Sellers shall release any remaining Seller Bonds, BOEM Bonds, and, if applicable, any Backstop Letters of Credit only if (i) Sellers and BSEE confirm the Final Decommissioning for the Unit is completed; (ii) BOEM agrees to release any remaining BOEM Bonds; and (iii) Purchaser requests in writing Sellers’ release of any remaining Seller Bonds, BOEM Bonds, and/or Backstop Letters of Credit.
More Definitions of Seller Bonds
Seller Bonds means, collectively, all surety instruments, bonds, letters of credit, or guarantees, if any, posted by Seller with any Governmental Authority or third Persons and relating to the Assets.
Seller Bonds. Means a multi-obligee bond(s), to secure Final Decommissioning obligations accrued before the Closing Date and remaining unperformed on the date that BOEM approves assignment of such interests from Sellers to Purchaser, in favor of all Sellers issued by a surety that (A) is qualified to be a surety and guarantor on bonds and undertakings and is named in the current Circular 570, published by the Audit Staff Bureau of Accounts, U.S. Department of the Treasury, (B) has a credit rating that meets two of the following three standards: (1) “A-” or better by Standard & Poor’s Rating Group, (2) “A3” or better by Xxxxx’x Investor Service Inc., or (3) both (i) Financial Strength Rating of “A” or better and (ii) Financial Size Category of “XII” or better by A.M. Best Company, Inc.; and (C) has a certificate of suretyship that has not been revoked, such bond being in the form set out in Exhibit 5A.
Seller Bonds is defined in Section 6.6.
Seller Bonds has the meaning as set out in Preamble (H).
Seller Bonds those deposits, trust funds, bid bonds, performance bonds and surety bonds (and all such similar undertakings) set forth in Part 6.3(b) of the Disclosure Letter.
Seller Bonds shall have the meaning set forth in Section 3.2.24(c).
Seller Bonds has the meaning set forth in Section 8.5. “Seller Employees” has the meaning set forth in Section 10.5.