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

• Line 411 reflects project‐related costs for enforceable obliga HPS CP Surety Bond Program.

• If in the form of a Surety Bond, submit also a certification issued by the Insurance Commission; or Original copy of Notarized Bid Securing Declaration; and ⬛ 5.

• Lessee shall cause the surety company to add Lessor as a co-obligee on each Surety Bond, and shall deliver a certified copy of each Surety Bond to Lessor promptly upon receipt thereof by Xxxxxx.

• Provide Bonds in the form prescribed by the Contract Documents from sureties named in the list of “Companies Holding Certificates of Authority as Acceptable Sureties on Federal Bonds and as Acceptable Reinsuring Companies” as published in Circular 570 (amended) by the Financial Management Service, Surety Bond Branch, U.S. Department of the Treasury.

• Successor Agency's Surety Bond Program will be used to a contractors in obtaining insurance and credit support that may be required in order to participate in the development of the Phase 2 Project.

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 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 from a bonding company with a credit rating by A.M. BEST better than a “B”. The bonding company shall be certified to issue bonds in a state in which this Agreement is approved.

Surety Bond. The limited purpose Surety Bond, dated March 17, 1999, issued by the Surety Bond Issuer in favor of the Sellers, as the same may be amended, modified, restated or supplemented from time to time.

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 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).