Surety Collateral definition
Surety Collateral means all (a) Bonded Contracts, bonded obligations, and Surety Bonds, (b) subcontracts let or be let in connection with any Bonded Contracts, including any related Surety Bonds or other payment security, (c) actions, causes of action, claims and demands whatsoever in connection with or on account of any Bonded Contract or bonded obligation, (d) Bonded Retainages, (e) Bonded Equipment, (f) Bonded Inventory, (g) Intellectual Property to the extent required for fulfillment of any Bonded Contracts, and (h) proceeds of any insurance policy affording coverage for all or part of any Bonded Contract or bonded obligation.
Surety Collateral means all (a) Bonded Contracts, bonded obligations, and Surety Bonds, (b) subcontracts let or be let in connection with any Bonded Contracts, including any related Surety Bonds or other payment security, (c) actions, causes of action, claims and demands whatsoever in connection with or on account of any Bonded Contract or bonded obligation, (d) Bonded Retainages, (e) Equipment that is delivered to, prefabricated for or specifically ordered for a Bonded Job Site, whether or not the same will be deemed to be affixed to, arise out of or relate to any real property, together with all accessions thereto, (f) Bonded Inventory, (g) Intellectual Property to the extent required for fulfillment of any Bonded Contracts, and (h) proceeds of any insurance policy affording coverage for all or part of any Bonded Contract or bonded obligation.
Surety Collateral means any and all amounts that may be owing from time to time by Surety to any Principal in any capacity, including, but without limitation, any balance or share belonging to any Principal of any deposit or other account with Surety; all of any Principal’s right, title, and interest in and to: all Bonded Contracts and associated contract rights; Accounts arising therefrom; any and all funds due or to become due under the Bonded Contracts; all claims, rights, and choses in action against any Obligee on any Bond issued with respect to Bonded Contracts or against any other Person with respect to any Bond issued with respect to Bonded Contracts; Bonded Contracts Balances; to the extent assignable (provided, that, any such prohibition on assignment would not be rendered ineffective pursuant to Article 9 of the UCC, including, without limitation Section 9-406 and 9-408 of the UCC, or any successor provisions and further, provided, that, any such prohibition on assignment has not otherwise been rendered ineffective, lapsed, or terminated), all rights and actions that any Principal may have or acquire in any subcontract, purchase order, or other agreement solely in connection with any Bonded Contract, and against any subcontract, purchase order, or other agreement solely in connection with any Bonded Contract with any Person furnishing or agreeing to furnish or supply vehicles, labor, supplies, machinery, or other inventory or equipment in connection with or on account of any Bonded Contract, and against any surety or sureties of any such subcontractor, laborer, or other Person in connection with any Bonded Contract; any and all Equipment which is delivered to, prefabricated for or specifically ordered for a Bonded Job Site in connection with an Bonded Contract; any and all Inventory which is delivered to, prefabricated for or specifically ordered for a Bonded Job Site in connection with an Bonded Contract; any and all books, accounts, computer software, and other computer stored information, and any and all drawings, plans, specifications, shop and as built drawings, utilized in or necessary to fully perform all obligations and services required of Principal under the Bonded Contracts (and not to the exclusion of any other parties entitled to such books, accounts, software, computer information, drawings, plans and specifications); all progress schedules, work in process schedules (including, but not limited to, estimates of completion costs), accounts receivable...
Examples of Surety Collateral in a sentence
This Blanket Bond replaces the following existing bonds: Date of Bond Type of Bond (Surety/ Collateral) Name of Surety/Bank/ Govt.
In connection therewith, the Administrative Agent is hereby directed to execute and deliver such documentation as the issuer of the Surety Bonds may reasonably request in connection with the release of the Proposed Surety Collateral.
The Administrative Agent is hereby directed to release the Lien on the Proposed Surety Collateral securing the Credit Obligations upon the request of the Borrower and confirmation that, contemporaneous with such release, the Restricted Entities will ▇▇▇▇▇ ▇ ▇▇▇▇ on the Proposed Surety Collateral to secure obligations with respect to Surety Bonds then or thereafter obtained by the Restricted Entities.
More Definitions of Surety Collateral
Surety Collateral means Collateral in which the Surety has been granted a valid, first priority security interest in accordance with the Surety Facility.
Surety Collateral means that real property and all improvements thereon described on Schedule 1.77 attached hereto.
Surety Collateral has the meaning set forth in the Senior Indebtedness Loan Documents.
Surety Collateral any such assets that are collateral for BHSI, as surety (the “Surety”), under surety bonds issued by the Surety under the terms of the BHSI Surety Documents and secured by the BHSI Surety Liens.