BONDS/GUARANTEE Clause Samples

BONDS/GUARANTEE. Tenant may at its election require the contractors to provide for the benefit of Tenant and Landlord from a company acceptable to Tenant and Landlord a performance and completion bond to assure the completion of the Work and the payment of all labor and material costs. For all Work not bonded as set forth in the previous sentence Tenant guarantees completion if all Work in a lien-free manner, except to the extent caused by Landlord's negligence or wrongful failure to eke any payments required to be made by Landlord pursuant to the Lease or this Work Letter.