Bonding Arrangements. (a) If any claims, individually in excess of $1,000,000 or in the aggregate, in excess of $5,000,000, shall be paid by any surety under any Bonding Arrangement or (b) if an event of default shall occur or exist under any Bonding Arrangement or any other event or condition shall occur or exist (including any claim paid under any Bonding Arrangement whether or not it constitutes an Event of Default under clause (a) above) that would entitle the surety under any Bonding Arrangement (with the giving of notice or passage of time or both) to take action against any of the Collateral; or
Bonding Arrangements. The Borrower shall have delivered copies of all Bonding Arrangements relating to itself or any of the Loan Parties, and if the same provide for any Liens on property or assets which constitute Collateral, (a) such Liens shall be Surety Liens and (b) except with respect to Permitted Non-Job Surety Bonding Arrangements that do not require intercreditor agreements, the Borrower shall have delivered intercreditor agreements of the type referred to in the definition of Surety Liens (each, a “Bonding Intercreditor Agreement”).
Bonding Arrangements. Should the Company require any employee to be bonded, the premium involved shall be paid by the Company.
Bonding Arrangements. 4.1 On Demand Performance Bond
Bonding Arrangements indemnity agreements and other contracts, agreements and instruments entered into with any bonding company with respect to securing the performance of tenders, bids, surety or performance bonds (other than in connection with litigation or judgments), purchase, construction, sales or servicing contracts and similar obligations incurred in the normal business consistent with industry practice.
Bonding Arrangements. Tealstone Residential shall not enter into or become subject to any suretyship or bonding arrangements. Section 7.19.
Bonding Arrangements. The Company or any Subsidiary breaches or defaults with respect to the terms of one or more bonded contracts if the effect of such breach or default is to cause one or more Persons issuing bonds for the Company or any Subsidiary to take possession of the work under contracts which are subject to bonds aggregating a Dollar Equivalent amount of U.S. $1,000,000 or more.
Bonding Arrangements. 66 12.1.13 Material Adverse Change.................................... 66 12.1.14 Default under Recapitalization Documents................... 66 12.2 Effect of Event of Default................................................. 66
Bonding Arrangements. (a) Any Person executing bonds, -------------------- undertakings or instruments of guaranty as surety for the Company or any Subsidiary with respect to any contracts to be entered into by the Company or such Subsidiary for any reason generally ceases to issue such bonds, undertakings or instruments of guaranty and such cessation could reasonably be expected to have a Material Adverse Effect; or (b) the Company or any of its Subsidiaries breaches or defaults with respect to any term of any bonded contract if the effect of such breach or default is to cause any Person executing bonds, undertakings or instruments of guaranty as surety for the Company or such Subsidiary to take possession of the work under such bonded contract and such possession could reasonably be expected to have a Material Adverse Effect.
Bonding Arrangements. Any bond issued by any surety or bonding company, including, without limitation, Travelers Casualty and Surety Company of America, on behalf of any Loan Party or any of its Subsidiaries is called or declared to be in default and such surety or bonding company is required to perform or pay all or any portion of the obligations under the underlying contract or project for which such bond was posted; or (l) Keyman. At any time the aggregate principal amount of outstanding Term Loans exceed $40,000,000: (i) Xxxx X. Xxxxxxx shall cease to be engaged in the role (or a similar role) in which he is engaged as of the Closing Date at any Loan Party or any of its Subsidiaries at any time on or before March 9, 2018; provided that, to the extent Xxxx X. Xxxxxxx continues to be a member of the board of directors of the Borrower, such an event shall not constitute an Event of Default hereunder; (ii) any Specified Keyman shall cease to be engaged in the role (or a similar role) in which he is engaged as of the Closing Date at any Loan Party or any of its Subsidiaries at any time on or before the third anniversary of the Closing Date; provided that, to the extent the Borrower delivers a written notice to Agent and the Lenders within 30 days of any such event outlining a plan and timeline to replace such Specified Keyman that is satisfactory to the Lenders in their sole discretion, such an event shall not constitute an Event of Default hereunder; provided further, that any replacement of any such Specified Keyman shall be acceptable to the Lenders in their sole discretion; or (m)
