Condition of Obligation. The condition of the above obligation is such that WHEREAS Contractor has entered into a Contract with Owner dated (enter date of contract), for construction of Project No. .
Condition of Obligation. Surety is obligated to pay XXXXX the Bond Amount only if Principal breaches its obligations under the Lease and such breach results or could result in monetary losses to XXXXX.
Condition of Obligation. To secure the Depositor's performance of its obligations under this Deposit Agreement, the Agreement, the Act, and the Commission's orders and rules, either now or in the future, the Depositor gives the Bank a security interest in the Pledged Security as defined in Section 2 of the Agreement and described in Section 2 hereof. The obligations stated herein remain in full force and effect subject only to the Agreement's conditions and requirements.
Condition of Obligation. XXXXXXXXXXXXXX.XXX
