Bond or Letter of Credit. At UTILITY's request, licensee will maintain either a surety bond or letter of credit (as specified by UTILITY) to guarantee the payment of all of the sums that may become due from Licensee to UTILITY under the terms of this Agreement. At the time this Agreement becomes effective, Licensee agrees to furnish bonds or letters of credit to UTILITY in the amount of $20,000 for the initial 1 to 10 Wireless Attachments to be made to UTILITY Poles and$25,000 for initial 1 to 1000 Wire Attachments to be made to UTILITY Poles. Licensee shall increase said bonds or letters of credit by$ 20,000 for each additional group (or partial group) of 10 Wireless Poles and by$25,000 for each additional group (or partial group) of 1000 Wire Attachments in excess of the initial 1000 Wire Attachments to be made to UTILITY Poles. The required bond or letter of credit amounts shall at all times be equal to or in excess of the amounts determined as aforesaid for the number of Attachments covered by Permits hereunder. The bonds or letters of credit shall be in a form and with a surety acceptable to UTILITY.
Bond or Letter of Credit. 13.1.1 Franchisee shall file with the City, and at all times thereafter, maintain in full force and effect during the continuance of this franchise, at Franchisee’s sole expense, a corporate surety bond or letter of credit in a form acceptable to and approved by the City in the amount of $100,000.
Bond or Letter of Credit. The Property Owner shall provide the County with a bond or a letter of credit providing for the maintenance of the stormwater management system pursuant to the County UDO.
Bond or Letter of Credit a. A Performance Bond or an Irrevocable Standby Letter of Credit satisfactory to the City and County of Denver, in the form attached hereto as Exhibit D (“BOND”), in an amount not less than Five Hundred Thousand Dollars ($500,000.00), is required of the Contractor to guarantee that it will perform the work in strict accordance with this Agreement and shall pay all debts incurred under this Agreement. The issuer of the BOND must be authorized to do business in the State of Colorado.
