Common use of Condition of Obligation Clause in Contracts

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. Surety is obligated to pay XXXXX the Bond Amount only if Principal breaches its obligations under the Lease Agreement and such breach results or could result in monetary losses to XXXXX.