Payment and Performance Bonds means separate performance and labor and material payment bonds with respect to the Construction Contracts and in the full amount of Construction Contracts.
Payment and Performance Bonds means dual-obligee payment and performance bonds relating to each Major Contractor other than the General Contractor, issued by a surety company or companies and in form and content reasonably acceptable to Lender, in each case in an amount not less than the full contract price, together with a dual obligee and modification rider in form reasonably acceptable to Lender which shall be attached thereto.
Payment and Performance Bonds means dual-obligee payment and performance bonds (or a letter of credit in lieu of such bonds) relating to the Contractor (or, if required by Controlling Person, each contractor that enters into a Major Contract with Borrower), issued by a surety company or companies authorized to do business in the State and acceptable to Controlling Person, and in form and content reasonably acceptable to Controlling Person, in each case in an amount not less than the full contract price; together with a dual obligee and modification rider naming the Funding Lender and the Controlling Person and in the form and substance acceptable to Controlling Person which shall be attached thereto.
Examples of Payment and Performance Bonds in a sentence
Submit a signed copy of the signed exemption form when submitting Payment and Performance Bonds.
Payment and Performance Bonds requested for construction projects shall be in an amount equal to one hundred percent (100%) of the total contract amount.
The Payment and Performance Bonds must be accompanied by the original or a certified copy of the unrevoked power of attorney or other appropriate instrument entitling or authorizing the person who executed the bond to do so.
Payment and Performance Bonds shall also be recorded at the Vendor’s expense in the Office of the Clerk of the Circuit Court, Volusia County, Florida.
The selected Proposer shall have the right to withdraw the Proposal without penalty if the Department fails to return a fully executed Contract to the Proposer on or before the later of: (i) 45 days following receipt of the signed Contract from the successful Proposer, Payment and Performance Bonds and other required documents; or (ii) 120 days following the Proposal Due Date.
More Definitions of Payment and Performance Bonds
Payment and Performance Bonds has the meaning provided in Section 3.1(p) of this Agreement.
Payment and Performance Bonds means those payment and performance bonds required to be secured and maintained by the Subcontractors (except for the Design Engineer) in accordance with Section 10.2, in a form approved in writing by the County.
Payment and Performance Bonds has meaning set forth in Section 11.6. “Performance Guarantee” has the meaning set forth in Section 11.3(a). “Performance Liquidated Damages” has the meaning set forth in Section 11.3(b). “Performance Liquidated Damages Limitation” has the meaning set forth in Section 11.4(c). “Performance Requirements” means the performance requirements set forth in Exhibit D that the ESS must meet in order to achieve Substantial Completion. “Performance Tests” means actions taken as described in Article X and Exhibit D to verify the performance of the Project, including whether the Performance Requirements have been achieved. “Person” means an individual, partnership, corporation, limited liability company, company, business trust, joint stock company, trust, unincorporated association, joint venture, Government Authority or other entity of whatever nature. “Personnel” means Contractor’s and its Subcontractor’s employees, temporary personnel, day laborers, agents and representatives involved in the performance of Contractor’s obligations under the Agreement. “Pre-Existing Hazardous Material” means Hazardous Material that existed on or in the Property Site prior to Initial Site Mobilization by Contractor. “Procurement Agent” means the procurement agent for Company or its Affiliate, as the case may be, responsible for a Purchase Order. “Prohibited Items” means any pyrotechnics, explosives, firearms, weapons, alcoholic beverages, illegal drugs, or any items associated with those items. “Project” means the ESS and all equipment, services and utilities related thereto which must be completed as part of the Statement of Work, all of which Contractor guarantees shall be designed, constructed, assembled, erected, commissioned, started, tested and otherwise completed by, or through, Contractor in strict accordance with the provisions of the Contract Documents. “Project Schedule” means the schedule for completion of the Work developed and maintained by Contractor, provided to Company, including all scheduled activities and durations required to perform the Work attached hereto as Exhibit A and provided electronically to Company in the format and frequency required in Exhibit A, or any time upon Company’s request. “Property Site” means that certain piece of real property located in such places as may be identified by Company in the Notice to Proceed.
Payment and Performance Bonds means those certain payment and performance bonds provided by or on behalf of the Contractor and more fully described on Exhibit B attached hereto and incorporated herein.
Payment and Performance Bonds means guarantees of payment and performance satisfactory to Banks.
Payment and Performance Bonds means triple-obligee payment and performance bonds in favor of Borrower, General Contractor and Agent in form reasonably satisfactory to Agent, and in each case issued by a surety company or companies reasonably acceptable to Agent or, at Borrower’s election, a subguard insurance policy in form and substance satisfactory to Agent.
Payment and Performance Bonds means the payment bond and performance bond issued by an admitted Surety covering the faithful performance and completion of the Construction Work, including payment for all materials and labor furnished or supplied in connection with the Construction Work, by CONTRACTOR. Such bonds shall be in the form described in Exhibit E.