a Surety Bond Clause Samples

A surety bond clause requires one party, typically a contractor or service provider, to obtain a financial guarantee from a third-party surety company ensuring the fulfillment of contractual obligations. In practice, if the bonded party fails to complete the work or meet the terms of the agreement, the surety will compensate the other party or arrange for the completion of the contract. This clause primarily functions to protect the interests of the party receiving services by mitigating the risk of non-performance or default.
a Surety Bond. The Cash Deposit, Letter of Credit or Surety Bond must be the greater of an amount up to three (3) months anticipated charges (including, but not limited to, recurring, non-recurring and usage sensitive charges, termination charges and advance payments), a minimum of $10,000 per legal entity, per state as submitted on the credit application or as reasonably determined by AT&T-21STATE, for the Interconnection product and/or services, and Collocation or any other functions, facilities, products and/or services to be furnished by AT&T-21STATE under this Agreement. Estimated ▇▇▇▇▇▇▇▇ are calculated based upon the monthly average of the previous six (6) months current ▇▇▇▇▇▇▇▇, if WSP has received service from AT&T-21STATE during such period at a level comparable to that anticipated to occur over the next six (6) months. If either WSP or AT&T-21STATE has reason to believe that the level of service to be received during the next six (6) months will be materially higher or lower than received in the previous six (6) months, WSP and AT&T-21STATE shall agree on a level of estimated ▇▇▇▇▇▇▇▇ based on all relevant information.
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a Surety Bond. The Cash Deposit, Letter of Credit or Surety Bond must be in an amount equal to three (3) months anticipated charges (including, but not limited to, recurring, non-recurring and usage sensitive charges, termination charges and advance payments), as reasonably determined byAT&T-22STATE, for the Interconnection services, and Collocation or any other functions, Facilities, and/or services to be furnished by AT&T-22STATE under this Agreement. Estimated ▇▇▇▇▇▇▇▇ are calculated based upon the monthly average of the previous six (6) months’ current ▇▇▇▇▇▇▇▇, if ▇▇▇▇▇▇▇ has received service from AT&T-22STATE during such period at a level comparable to that anticipated to occur over the next six (6) months. If either Carrier or AT&T-22STATE has reason to believe that the level of service to be received during the next six (6) months will be materially higher or lower than received in the previous six (6) months, Carrier andAT&T-22STATE shall agree on a level of estimated ▇▇▇▇▇▇▇▇ based on all relevant information.
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a Surety Bond. 9.5 The Cash Deposit Letter of Credit or Surety Bond must be in an amount up to three (3) months anticipated charges (including, but not limited to, recurring, non-recurring and usage sensitive charges, termination charges and advance payments), as reasonably determined by AT&T ILLINOIS, for the Interconnection product and/or services, and Collocation or any other functions, facilities, products and/or services to be furnished by AT&T ILLINOIS under this Agreement. Estimated ▇▇▇▇▇▇▇▇ are calculated based upon the monthly average of the previous six (6) months current ▇▇▇▇▇▇▇▇, if Sprint has received service from AT&T ILLINOIS during such period at a level comparable to that anticipated to occur over the next six (6) months. If either Sprint or AT&T ILLINOIS has reason to believe that the level of service to be received during the next six (6) months will be materially higher or lower than received in the previous six (6) months, Sprint and AT&T ILLINOIS shall agree on a level of estimated ▇▇▇▇▇▇▇▇ based on all relevant information. 9.6 To the extent that AT&T ILLINOIS elects to require a Cash Deposit, the Parties intend that the provision of such Cash Deposit shall constitute the grant of a security interest in the Cash Deposit pursuant
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a Surety Bond. The Cash Deposit, Letter of Credit or Surety Bond must be in an amount up to three (3) months anticipated charges (including, but not limited to, recurring, non-recurring and usage sensitive charges, termination charges and advance payments), as reasonably determined by AT&T-21STATE, for the Interconnection Services, 251(c)(3) UNEs, Collocation or any other functions, facilities, products or services to be furnished by AT&T-21STATE under this Agreement. Estimated ▇▇▇▇▇▇▇▇ are calculated based upon the monthly average of the previous six (6) months current ▇▇▇▇▇▇▇▇, if CLEC has received service from AT&T-21STATE during such period at a level comparable to that anticipated to occur over the next six (6) months. If either CLEC or AT&T-21STATE has reason to believe that the level of service to be received during the next six
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Related to a Surety Bond

  • Surety Bond (a) If a Required Surety Payment is payable pursuant to the Surety Bond with respect to any Additional Collateral Loan, the Master Servicer shall so notify the Trustee as soon as reasonably practicable and the Trustee shall promptly complete the notice in the form of Attachment 1 to the Surety Bond and shall promptly submit such notice to the Surety as a claim for a Required Surety. The Master Servicer shall upon request assist the Trustee in completing such notice and shall provide any information requested by the Trustee in connection therewith. (b) Upon receipt of a Required Surety Payment from the Surety on behalf of the Holders of Certificates, the Trustee shall deposit such Required Surety Payment in the Certificate Account and shall distribute such Required Surety Payment, or the proceeds thereof, in accordance with the provisions of Section 4.02. (c) The Trustee shall (i) receive as attorney-in-fact of each Holder of a Certificate any Required Surety Payment from the Surety and (ii) disburse the same to the Holders of such Certificates as set forth in Section 4.02.

  • Surety Bonds No Trustee, officer, employee or agent of the Trust shall, as such, be obligated to give any bond or surety or other security for the performance of any of his duties, unless required by applicable law or regulation, or unless the Trustees shall otherwise determine in any particular case.

  • Fidelity Bond The Master Servicer, at its expense, shall maintain in effect a blanket fidelity bond and an errors and omissions insurance policy, affording coverage with respect to all directors, officers, employees and other Persons acting on such Master Servicer’s behalf, and covering errors and omissions in the performance of the Master Servicer’s obligations hereunder. The errors and omissions insurance policy and the fidelity bond shall be in such form and amount generally acceptable for entities serving as master servicers or trustees.