Surety Bond definition

Surety Bond. The Limited Purpose Surety Bond (Policy No. AB0039BE), dated February 28, 1996 in respect to Mortgage Loans originated by MLCC, or the Surety Bond (Policy No. AB0240BE), dated March 17, 1999 in respect to Mortgage Loans originated by Novus Financial Corporation, in each case issued by Ambac for the benefit of certain beneficiaries, including the Trustee for the benefit of the Holders of the Certificates, but only to the extent that such Surety Bond covers any Additional Collateral Loans, or such other Surety Bond as may be identified in the Series Supplement.

Surety Bond means a bond from a Bond company with a credit rating by AMBEST better than a “B”. The bonding company shall be certified to issue bonds in a state in which this Agreement is approved.

Surety Bond. If so specified in the Supplement with respect to any Series (or Class within such Series), the surety bond providing for the distribution under certain circumstances specified in such Supplement of amounts to the Certificateholders of such Series (or Class), which surety bond will be issued to the Trustee for the benefit of such Certificateholders by the related Credit Support Provider, all as specified in such Supplement.

Examples of Surety Bond in a sentence

• The determination of damage shall be made in the sole discretion of the DISTRICT, and the cost of any repair of such damage shall be deducted from the Surety Bond or security deposit held by the DISTRICT.

• If a Surety Bond is provided by the PURCHASER, it shall include a provision whereby the surety company waives notice of any alteration to this Agreement or extension of time made by the DISTRICT.

• To ensure due performance of the contract, Performance Security Deposit (hereinafter called as SD) is to be deposited by the successful bidder after awarding of the contract in favour of “INDIAN INSTITUTE OF MANAGEMENT CALCUTTA” payable at KOLKATA, in the form of Insurance Surety Bond, an Account Payee Demand Draft/ Fixed Deposit Receipt/ Banker’s Cheque/Bank Guarantee from any Commercial Bank or Private Bank authorized to conduct Government business.

• Damage to or destruction of young longleaf pine regeneration, especially to young longleaf pine regeneration located adjacent to pine timber sale boundaries, will result in forfeiture of the security deposit or Surety Bond.

• In connection with any Preference Amount payable under the Surety Bond, the Trustee shall furnish to the Surety Provider its records evidencing the distributions of principal of and interest on the Series 2006-2 Notes that have been made and subsequently recovered from Series 2006-2 Noteholders and the dates on which such payments were made.

More Definitions of Surety Bond

Surety Bond. The Limited Purpose Surety Bond (Policy No. AB0039BE), dated February 28, 1996, issued by the Surety for the benefit of certain beneficiaries, including the Trustee for the benefit of the Holders of the Certificates, but only to the extent that such Limited Purpose Surety Bond covers any Pledged Asset Mortgage Loans.

Surety Bond. With respect to each Pledged Asset Mortgage Loan, the surety bond issued by the related Surety Bond Issuer covering such Pledged Asset Mortgage Loan.

Surety Bond means an indemnity agreement in a sum certain, payable to the cabinet and executed by the permittee, which is supported by the performance guarantee of a corpora- tion licensed to do business as a surety in the Commonwealth of Kentucky.

Surety Bond means a performance bond written by an entity licensed to do business in this state which guarantees that a contractor will fully perform the contract and which guarantees against breach of that contract.

Surety Bond. – means a bond that is issued by a surety or insurance company with, in either case, a credit rating of at least (a) “A-“ by S&P and “A3” by Moody’s, if such entity is rated either by both S&P or Moody’s or (b) “A-“ by S&P or “A3” by Moody’s, if such entity is rated by either S&P or Moody’s but not both, in a form reasonably acceptable to Buyer.

Surety Bond means the limited purpose surety bond (Policy No. AB0039BE), dated February 28, 1996 in respect to Mortgage Loans originated by the Seller, issued by the Surety Bond Issuer for the benefit of certain beneficiaries, but only to the extent that such Surety Bond covers any Additional Collateral Mortgage Loan.

Surety Bond means any instrument pursuant to which the issuer thereof agrees to pay on behalf of DTAG or any of its subsidiaries, an amount then due and payable by DTAG or such subsidiary to another person (including an insurer of DTAG or such subsidiary).