Bonds and Other Surety Sample Clauses

Bonds and Other Surety. Except as expressly provided herein, XXXXXX shall not be required to obtain or maintain bonds or other surety as a condition of this Agreement. CITY acknowledges that the legal, financial, and technical qualifications of XXXXXX are sufficient to afford compliance with the terms of the Agreement and the enforcement thereof. XXXXXX and CITY recognize that the costs associated with bonds and other surety may ultimately be borne by the Subscribers in the form of increased rates for Fiber Internet Service or other service. In order to minimize such costs, CITY agrees to require bonds and other surety only in such amounts and during such times as there is a reasonably demonstrated need therefor. CITY agrees that in no event, however, shall it require a bond or other related surety in an aggregate amount greater than $100,000, conditioned upon the substantial performance of the material terms, covenants, and conditions of this Agreement. Initially, no bond or other surety shall be required. In the event that one is required in the future, CITY agrees to give XXXXXX at least sixty (60) days’ prior written notice thereof stating the exact reason for the requirement. Such reason must demonstrate a change in XXXXXX’x legal, financial, or technical qualifications, which would materially prohibit or impair its ability to comply with the terms of this Agreement or afford compliance therewith.
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Bonds and Other Surety. Except as set forth on Schedule 4.10, Purchaser shall not be required to post or replace any bonds or other surety other than that routinely required by regulatory agencies in order to operate the Assets.
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Bonds and Other Surety. 24 2.21 Liens..........................................................................................25 2.22
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Bonds and Other Surety. Except as expressly provided herein, the Grantee shall not be required to obtain or maintain bonds or other surety as a condition of being awarded the Franchise or continuing its existence. The Franchising Authority acknowledges that the legal, financial, and technical qualifications of the Grantee are sufficient for compliance with the terms of the Franchise and the enforcement thereof. The Grantee and the Franchising Authority recognize that the costs associated with bonds and other surety may ultimately be borne by the Subscribers in the form of increased rates for services. In order to minimize such costs, the Franchising Authority agrees to require bonds and other surety only in such amounts and during such times as there is a reasonably demonstrated need therefore. The Franchising Authority agrees that in no event, however, shall it require a bond or other related surety in an aggregate amount greater than $10,000, for construction projects as conditioned upon the substantial performance of the material terms, covenants, and conditions of the Franchise.
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Bonds and Other Surety. To guarantee the timely completion of the System Upgrade and to ensure that any construction of the Cable System and the operation thereof continue in an orderly and uninterrupted manner in the event of a default by the Grantee, and to ensure compliance with the terms of this Agreement, the Grantee shall arrange for, and shall maintain throughout the term of this Agreement, construction performance and payment bonds for the protection of Subscribers, non-subscribers and the Franchising Authority with corporate surety and trust companies reasonable acceptable to the Franchise Authority which approval shall not be unreasonably withheld. The Grantee agrees to deliver to the Franchise Authority at the signing and delivery of the Agreement such construction performance and payment bonds or other suitable security in a form reasonably acceptable to the Franchising Authority in an aggregate amount no less than One Hundred Thousand Dollars ($100,000.00) conditioned for the performance of the obligations of the Grantee contained in this Agreement. Upon completion of the System Upgrade such bond or bonds shall be reduced to an amount not less than Twenty-Five Thousand Dollars ($25,000.00). The construction performance and payment bonds shall provide for indemnification and payment up to the full face amount of the bonds, for: (i) the cost of construction of the Cable System, and to maintain operation of the Cable System, following a termination of this Agreement up to the date upon which the face amount of the bonds, plus all revenue actually received through the continued operation of the System during said period, have been exhausted; (ii) any loss or damage to any Public Ways, municipal structure or private property, (iii) any other costs, or loss or damage actually incurred by any Subscriber, non-subscribers or the Franchising Authority as a result of the Grantee's failure to faithfully perform its obligations under this Agreement; and (iv) the removal of all or any part of the Cable System from the Public Ways. The aforesaid bonds or other security shall not be released until the proper performance of all of the obligations of the Grantee contained herein, and only after approval and verification by the Franchising Authority to that effect and/or compliance with all laws, rules, and regulations of the Franchising Authority or any commission, agency or board having lawful jurisdiction thereof, including but not limited to the Federal Communications Commission. T...
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Bonds and Other Surety. Except as expressly provided herein, Grantee shall not be required to obtain or maintain bonds or other surety as a condition of being awarded this Franchise or continuing its existence. The City acknowledges that the legal, financial and technical qualifications of Grantee may be sufficient to afford compliance with the terms of the Franchise and the enforcement thereof. Grantee and City recognize that the costs associated with bonds and other surety may ultimately be borne by the subscribers in the form of increased rates. In order to minimize such costs, the City may require bonds and other surety only in such amounts and during such times as the City, in its sole discretion, deems necessary to ensure that work performed by Grantee is completed in a timely fashion and that all public ways, public and private property are restored as required by this Franchise. In the event the City determines that a performance or completion bond is required for a particular project by Grantee, the City will give Grantee at least 30 days prior written notice thereof stating the reason for the requirement.
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Bonds and Other Surety 
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Related to Bonds and Other Surety

  • Fees and Other Charges (a) The Borrower will pay a fee on all outstanding Letters of Credit at a per annum rate equal to the Applicable Margin then in effect with respect to Eurodollar Loans under the Revolving Facility, shared ratably among the Revolving Lenders and payable quarterly in arrears on each Fee Payment Date after the issuance date. In addition, the Borrower shall pay to the Issuing Lender for its own account a fronting fee of 0.25% per annum on the undrawn and unexpired amount of each Letter of Credit, payable quarterly in arrears on each Fee Payment Date after the issuance date.

  • Mechanics' and Other Liens Except for Permitted Encumbrances, the Company shall not suffer or permit any mechanics' or other Liens to be filed or to exist against the Collateral or any payments paid or payable under the Loan Documents, by reason of work, labor, services or materials supplied or claimed to have been supplied to, for or in connection with the Collateral or to the Company, the Director or anyone holding the Collateral or any part thereof through or under the Company. If any such Lien shall at any time be filed, the Company shall, within thirty (30) days after notice of the filing thereof but subject to the right to contest as herein set forth, cause the same to be discharged of record by payment, deposit, bond, order of a court of competent jurisdiction or otherwise. Notwithstanding the foregoing, the Company shall have the right, at the Company's expense and after written notice to the Director, by appropriate proceeding timely instituted and diligently prosecuted, to contest in good faith the validity or the amount of any such Lien. If, however, the Director shall notify the Company that, in the opinion of Independent Counsel, by nonpayment of any such items the lien, pledge or security interest created by this Security Agreement as to any part of the Collateral will be materially affected or the Collateral or any part thereof will be subject to imminent loss or forfeiture, the Company shall promptly cause such Lien to be discharged of record, as herein provided. Should the Company fail to cause such Lien to be discharged or to contest the validity or amount thereof, within the period aforesaid, then, the Director may, but shall be under no obligation to, discharge the same either by paying the claim or by procuring the discharge of such Lien by making a deposit or obtaining a bond, which advances if any shall be paid by the Company to the Director on demand, together with interest thereon at the Interest Rate for Advances from the date thereof, in addition to all other payments to be made by the Company pursuant to the Loan Documents and shall be subject to and secured by this Security Agreement as additional indebtedness in accordance with the provisions of Section 2.8 hereof.

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