Assurance of Completion. Lessee, as Construction Agent, shall deliver its certification to Administrative Agent (in form and substance satisfactory to Information Agent and the Participants) that the available Commitments are sufficient to complete the construction of the Systems being constructed in accordance with the Design Objectives by the Commitment Termination Date.
Assurance of Completion. (a) Unless otherwise provided in State law, the successful bidder shall furnish an assurance of completion prior to the execution of any contract under this solicitation. This assurance may be [Contracting Officer check applicable items] Not applicable for this solicitation.
(1) a performance and payment bond in a penal sum of 100 percent of the contract price; or, as may be required or permitted by State law;
(2) separate performance and payment bonds, each for 50 percent or more of the contract price;
(3) a 20 percent cash escrow;
Assurance of Completion. Not less than 15 days prior to the applicable Project Developer’s obtaining issuance of the initial building permit for the shell construction of the Residential Building, the applicable Project Developer shall make available to the City or its representatives for inspection (i) reasonable evidence of sufficient equity and debt commitments for the construction through Substantial Completion, (ii) if then available, a copy of the completion guaranty or other evidence of assurance of Substantial Completion provided by the applicable Project Developer or its affiliate to the applicable Project Developer’s construction lender or third party tax credit investor, in substantially the form approved by the City prior to the Effective Date or such other form as may be reasonably acceptable to the City (such guaranty or other evidence of assurance, the “Residential Completion Guaranty”) and (iii) any other available information that may be requested by the City to reasonably demonstrate the applicable Project Developer’s obligations to Substantially Complete the construction of the Residential Building.
Assurance of Completion. Not less than 15 days prior to the applicable Project Developer obtaining issuance of the initial building permit for the renovation of the Xxxxxx Small Building, the applicable Project Developer shall make available to the City or its representatives for inspection (i) reasonable evidence of sufficient equity and debt commitments for the renovation through Substantial Completion, (ii) a copy of the completion guaranty or other evidence of assurance of Substantial Completion provided by the applicable Project Developer or its affiliate to such Project Developer’s construction lender and (iii) any other available information that may be requested by the City to reasonably demonstrate the applicable Project Developer’s obligations to Substantially Complete the renovation of the Xxxxxx Small Building.
Assurance of Completion. Administrative Agent shall have received with respect to each Advance where the aggregate of all prior Advances for such Property exceeds $100,000,000, upon request, from the Construction Agent, assurance that the available aggregate Commitments for the Facility being constructed, is sufficient to complete the construction of such Facility in accordance with the Plans and Specifications therefor and to fund all reasonably anticipated Capitalized Yield and Capitalized Interest, and that all of such construction is (or, absent any Force Majeure, would be) capable of being completed by the end of the Construction Period.
Assurance of Completion. Payment and Performance Bond (Contracts Exceeding $100,000):
16.1. For quotes exceeding $100,000, unless otherwise stated on the GDPM Request for Quote Form or to an attachment to GDPM’s signed acceptance of the Request for Quote Form, within ten days after GDPM’s acceptance, the Contractor must deliver to GDPM, in a form acceptable to GDPM, a payment and performance bond as security for the faithful performance and payment of all the Contractor’s obligations under the Contract Documents.
16.2. Failure by the Contractor to obtain the required assurance of completion within the time specified may render the Contractor ineligible for award and GDPM may retain the Contractor’s bid guarantee.
16.3. In order for Contractor to fulfill the requirements of this provision, GDPM, in its sole discretion, may accept any of the following:
16.3.1. a performance and payment bond in a penal sum of 100% of the contract price
16.3.2. separate performance and payment bonds, each for 50 percent or more of the contract price;
16.3.3. a 20 percent cash escrow;
Assurance of Completion. In the event that at any time or from time to time, there is unavailable sufficient unfunded Commitment allocated to such Site to fully pay for the completion of construction of such Facility, Lessee, as Construction Agent, shall contribute its own funds to pay costs of such construction prior to making any further request for any Advance to pay for such construction until the remaining unfunded Commitment allocated to such Site is sufficient to fully pay for the completion of such construction without further contributions from Lessee.
Assurance of Completion. If requested by Agent, Agent and Lessor shall have received from Lessee, as Construction Agent, a written certification that the Available Commitments for such Facility together with the other Facilities being constructed or renovated on all other Construction Sites for which construction has not been completed is sufficient to complete the construction of such Facilities in accordance with the respective Plans and Specifications therefor, and that all of such construction or renovation is capable of being completed prior to the anticipated Construction Completion Date for each such Construction Site. In the event that at any time or from time to time the Available Commitments are not sufficient to fully pay for the Completion of the Facility on any Construction Site, Lessee, as Construction Agent, covenants that it shall contribute, on an unsecured basis and without recourse to the Leased Property, to Agent or the Participants for repayment its own funds to pay costs of such construction or renovation, prior to making any further request for any Construction Advance to pay for such construction or renovation until the remaining Available Commitments are sufficient to fully pay for the completion of such construction or renovation without further contributions from Lessee.
Assurance of Completion. Owner shall provide an acceptable assurance of completion to be keep in place during the entire period of construction or rehabilitation of the Project. Assurance of completion may take one of the forms as outlined below.
Assurance of Completion. Unless otherwise provided in State law, Contractor shall furnish an assurance of completion prior to the execution of this Contract. This assurance shall be separate performance and payment bonds, each for 100 percent of the Contract price. Bonds must be obtained from guarantee or surety companies acceptable to the U.S. Government and authorized to do business in the state where the work is to be performed. Individual sureties will not be considered. U.S. Treasury Circular Number 570, published annually in the Federal Register, lists companies approved to act as sureties on bonds securing Government contracts, the maximum underwriting limits on each contract bonded, and the states in which the company is licensed to do business. Use of companies listed in this circular is mandatory. Free copies of the circular may be obtained by writing directly to: U.S. Department of Treasury, Financial Management Service, Surety Bond Branch, 000 00xx Xxxxxx, XX, 0xx Xxxxx, Xxxx Xxxx, Xxxxxxxxxx, X.X. 00000. Each bond shall clearly state the rate of premium and the total amount of premium charged. The current power of attorney for the person who signs for the surety company must be attached to the bond. The effective date of the power of attorney shall not precede the date of the bond. The effective date of the bond shall be on or after the execution date of the Contract. Failure by Contractor to obtain and maintain the required assurance of completion throughout the term of this Contract, or to furnish evidence of same upon request by the Commission and within the time frame set by the Commission shall render Contractor in default under this Contract and, notwithstanding anything in this Contract to the contrary, shall be grounds for immediate termination for cause. In such event, Commission expressly reserves all rights and remedies available to it at law and in equity.
