Construction Bond. Before Lessee begins construction of any Improvements on the Leased Premises or any repair or alteration in excess of $100,000.00, Lessee agrees to provide a performance bond or other security in one of the forms set forth in 25 C.F.R. § 162.435 satisfactory to Lessor, which will guarantee completion of the Improvement and payment in full of claims of all Persons for work performed or materials furnished for construction [ML]. The $100,000.00 amount shall be adjusted throughout the Lease Term in accordance with the formula set forth in Section 6.5 applicable to the MRA [ML]. Each performance bond or other security shall require the surety to provide at least 60 Days advance notice to Lessor before such performance bond or other security may be canceled [ML]. With respect to a bond or security issued pursuant to this Section 8.1, Lessee shall comply with 25 C.F.R. § 162.413(a)(9) in obtaining the consent of any sureties for any legal instruments that directly affect the obligations and liabilities of any sureties [ML]. All bonds required from Lessee under this Lease shall be deposited with Lessee [ML].
Construction Bond. (1) Prior to the commencement of any construction the cost of which is greater than the amount of One Hundred Thousand Dollars ($100,000), TENANT must file, with CITY’S City Clerk, a final detailed Civil Engineer's, Registered Architect's or Licensed and Bonded General Contractor's estimate of the cost of construction and installation of improvements on the Premises. Said estimate must be submitted to CITY’S City Engineer for approval. TENANT must file with the City Clerk a faithful performance bond, in a form and issued by a corporate surety company satisfactory to CITY, in an amount satisfactory to CITY, but not in excess of 100% of the final detailed cost estimate, securing the faithful performance of TENANT or its contractor in the completion of said construction.
(2) TENANT must also file with the City Clerk a labor and materials bond, in a form and issued by a corporate surety company satisfactory to CITY, in an amount satisfactory to CITY, but not in excess of 100% of the final detailed cost estimate, securing the payment of all claims for the performance of labor or services on, or the furnishing of materials for, the performance of said construction.
(3) In lieu of the above referenced bonds, TENANT may post cash deposits or may make other mutually satisfactory arrangements to guarantee the completion of construction projects. In the event the contractor bonds the project, CITY may be named as additional indemnitee to comply with these requirements.
Construction Bond. (a) Prior to being approved for an initial installation of a system, the Grantee shall file with the Village a construction bond in the amount of not less than 110 percent of the costs to install the System in the service area contained in the application or renewal proposal in favor of the Village. This bond shall be maintained throughout the construction period and until such time as determined by the Village, unless specified in the franchise agreement.
(b) Prior to being approved for an upgrade of the system that involves significant excavation or other disturbance of Public Way, the Grantee shall file with the Village a performance bond in the amount of not less than $100,000.00. This bond shall be maintained throughout the upgrade period and until such time as determined by the Village, unless specified in the franchise agreement.
(c) If the Grantee fails to diligently pursue and complete the construction required for the installation or upgrade of its cable system, or fails to well and truly observe, fulfill and perform each term and condition of this chapter or of the franchise as it relates to construction, installation or upgrade of the system, then there shall be recoverable jointly and severally, from the principal and surety of the bond, the cost of completing such construction and any damages or loss suffered by the Village as a result, including the full amount of any compensation, indemnification, or cost of removal or abandonment of any property of the Grantee, plus a reasonable allowance for attorney's fees, including the Village's legal staff, and costs, up to the full amount of the bond. This Section shall be an additional remedy for any and all violations outlined in Subsection 14(e).
(d) The bond shall contain the following endorsement: "It is hereby understood and agreed that this bond may not be canceled by the surety nor the intention not to renew be stated by the surety until 45 days after receipt by the Village, by registered mail, a written notice of such intent to cancel or not to renew."
(e) Upon receipt of a 45-day notice, this shall be construed as default granting the Village the right to demand payment on the bond.
(f) The Village, at any time during the term of this chapter, may, in writing, waive or reduce Grantee's requirement to maintain a performance bond.
Construction Bond. (a) (Construction Bond): The State may require Project Co to make a demand under the Construction Bond in accordance with the Project Agreement and the Finance Direct Deed.
(b) (Demand on Construction Bond): The D&C Subcontractor must inform the State when a demand is made under the Construction Bond promptly after it becomes aware of such demand.
(c) (Project Co to indemnify): Project Co must indemnify the D&C Subcontractor on demand against any Claim or Liability the D&C Subcontractor suffers or incurs arising in connection with the State requiring Project Co to make a demand under the Construction Bond in accordance with clause 3.6(a), except to the extent that such Claim or Liability arises in connection with a breach by the D&C Subcontractor of its obligations under the D&C Subcontract.
Construction Bond. During all times when Grantee is performing any construction work in or under the Streets requiring a street opening permit, Grantee shall post a faithful performance bond or irrevocable letter of credit, as is required for street opening permits, running to the City, with good and sufficient surety approved by the City, in the sum required by the City’s permit. The bond or letter of credit shall be conditioned that the Grantee shall well and truly observe, fulfill and perform each term and condition of the Franchise. Grantee shall pay all premiums or other costs associated with maintaining the bond or letter of credit, and shall keep the same in full force and effect at all times during the construction work. The bond or letter of credit shall provide that it may be terminated upon final approval of Grantee's construction work in or under the Streets by the City Engineer. Upon such approval, the City agrees to sign all documents necessary to release the bond in accordance with the terms of this Section 14.
Construction Bond. Prior to the commencement of construction of the Improvements (and the performance of any other Tenant Work during the Term of this Lease, in Landlord’s reasonable discretion), Tenant shall deliver to Landlord, in form and substance reasonably satisfactory to Landlord, a payment, performance and xxxx xxxx of a surety company licensed to do business in Massachusetts, naming Landlord as an additional obligee, as their respective interests may appear, in the amount of the entire cost of construction of the Improvements in accordance with the Final Plans, or, with respect to any other Tenant Work, in the amount of the entire cost of such Tenant Work, as reasonably approved by Landlord.
Construction Bond. Before beginning any construction work in or under the City streets requiring a street opening permit, Grantee shall furnish a construction bond to the City as is required for street opening permits pursuant to SMC Title 15, the City’s Street Use Code, including but not limited to SMC 15.04.44.
Construction Bond. Prior to Closing, Developer shall furnish Authority with a payment bond in an amount not less than one hundred percent (100%) of the costs for the applicable Improvements and a completion bond guaranteeing contractor's completion of those Improvements free from liens of material men, contractors, subcontractors, mechanics, laborers, and other similar liens. Said bonds shall be issued by a responsible surety company, licensed to do business in California, and with a financial strength and credit rating reasonably acceptable to Authority and shall remain in effect until the entire costs for such Improvements shall have been paid in full. Any such bonds shall be in a form reasonably satisfactory to Authority legal counsel and the City Risk Manager. In lieu of the payment and performance bonds, Developer may provide (i) a guaranty, in such form as reasonably required by Authority, to be executed for the lien free completion of the Project in accordance with this Agreement; or (ii) a letter of credit issued to Authority in the amount of not less than one hundred percent (100%) of the costs for the applicable Improvements, in a form and from a financial institution approved by Authority, which approval shall not be unreasonably withheld.
Construction Bond. If LESSEE constructs improvements on the Premises, CITY may require LESSEE to deposit with CITY, prior to commencement of the construction, a faithful performance bond in the amount of one hundred percent (100%) of the estimated construction cost of the work to be performed. The bond may be in cash or may be a corporate surety bond or other security satisfactory to CITY. The bond shall insure that the construction commenced by LESSEE shall be completed in accordance with the plans approved by CITY or, at the option of CITY that the uncompleted construction shall be removed and the Premises restored to a condition satisfactory to CITY. The bond or cash shall be held in trust by CITY for the purpose specified above, or at CITY’s option may be placed in an escrow approved by CITY. Notwithstanding the foregoing, LESSEE shall not be required to deposit any such bond, cash security or other security related to Rehabilitation.
Construction Bond. Before commencement of construction of any Improvements in excess of $100,000.00, Lessee agrees to provide a corporate surety bond or other security in one of the forms set forth in 25 C.F.R. §162.435(a) satisfactory to Lessor, which will guarantee completion of the Improvements and payment in full of claims of all persons for work performed or materials furnished for construction. The $100,000.00 amount shall be adjusted throughout the term in accordance with the formula set forth in Article 9 applicable to the Material Renovation Amount. Each performance bond or other security shall require the surety to provide no less than 60 days advance notice to Lessor, Master Lessor, and Secretary before such performance bond or other security may be canceled. Lessee shall comply with 25 C.F.R. § 162.413(a)(9) with respect to a bond or security issued pursuant to this Section. All bonds required from Lessee under this Lease shall be deposited with Lessor.
