Common use of Bond or Letter of Credit Clause in Contracts

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. At UTILITY's request, licensee 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 and $25,000 for initial 1 to 1000 Wire Attachments to be made to UTILITY Poles. Licensee shall increase said bonds or letters of credit by$ by $ 20,000 for each additional group (or partial group) of 10 Wireless Poles and by$25,000 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. At UTILITY's request, licensee 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 20,000.00 for the initial 1 to 10 Wireless Attachments to be made to UTILITY Poles and$25,000 and $25,000.00 for initial 1 to 1000 Wire Attachments to be made to UTILITY Poles. Licensee shall increase said bonds or letters of credit by$ 20,000 by $20,000.00 for each additional group (or partial group) of 10 Wireless Poles and by$25,000 by $25,000.00 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. At UTILITY's request, licensee 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 and $25,000for initial 1 to 1000 Wire Attachments to be made to UTILITY Poles. Licensee shall increase said bonds or letters of credit by$ by $ 20,000 for each additional group (or partial group) of 10 Wireless Poles and by$25,000 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.