Construction Performance Bond. Prior to the commencement of construction required hereunder, Concessionaire shall furnish the State with a bond, listing Concessionaire's contractor(s) as principals, in a sum not less than fifty percent (50%) of the total cost of the construction. The bond shall guarantee faithful performance of the construction by Concessionaire’s contractor.
Construction Performance Bond. Before starting any construction or installation, Licensee shall furnish a performance bond in an amount calculated by multiplying the kW (AC) capacity of the System as described in this Agreement by $250/kW, which provides an estimate of the amount necessary to restore the Site and Licensed Area to its pre-installation condition in the event Licensee fails to complete the installation of the System in accordance with this Agreement. Trustees shall release to Licensee any such construction performance bond no later than first day of the second Contract Year.
Construction Performance Bond. Before beginning any construction work in or under the City streets requiring a street opening permit, Grantee shall furnish a performance bond to the City as is required for street opening permits. The bond shall run to the City with good and sufficient surety approved by the City and shall be maintained in a sum equal to the anticipated cost of the work to be performed, but not to exceed two million dollars ($2,000,000). The bond shall be subject to the approval of the City Attorney as to its adequacy under the requirements under this section. The bond shall be conditioned that the Grantee shall well and truly observe, fulfill and perform each term and condition under Section 13, General Use of and Construction in Right of Way. Grantee shall pay all premiums or costs associated with maintaining the bond, and shall keep the same in full force and effect at all times during the construction work. The bond shall provide that it may be terminated upon final approval of Grantee's construction work in or under the City 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 sub section.
Construction Performance Bond. To: The Accountant-General Ministry of Finance Jerusalem Re: Bank Guarantee No. Concession Agreement Dated ("Guarantee") Pursuant to the request of [name to be completed] (hereinafter: "The Applicant"), we hereby guarantee to pay you any sum, at your demand, up to the overall amount of one hundred twenty five million NIS (125,000,000 NIS) (hereinafter: "The Principal Amount"). Without derogating from the generality of the foregoing, the Principal Amount may be reduced following receipt by us of a Reduction Certificate issued by the Accountant General, or anyone on her behalf, in the format attached as Annex 1, by the amount stipulated therein, and in accordance with the provisions thereof. Linkage differentials shall be added to the Principal Amount or any part thereof, in accordance with the provisions set forth herein below (hereinafter, the Principal Amount, together with linkage differentials, shall be referred to as "The Amount of the Guarantee"). For the purpose of this Guarantee: the "General Consumer Cost of Living Index" or the "Index" - shall mean the Consumer Price Index (also known as the Cost of Living Index) including vegetables and fruits, which is published by the Israeli Central Bureau of Statistics, including that Index, even if it shall be published by any other Government Institution or in any other manner, and also including any official Index which shall replace it, whether it shall be made up with the same data on which the existing index is based or not. If another index shall replace the existing Index, the Israeli Central Bureau of Statistics shall determine the ratio between them. The "Basic Index" - shall mean the Index published in respect of the month of at a rate of points. [to be completed based on the Index known on the date of issuance of the guarantee] The "New Index" - shall mean the Index last published before actual payment under this guarantee. If at the time of payment of any amount under this Guarantee, the New Index shall be higher than the Basic Index, the Amount of the Guarantee shall be calculated as increased in a rate equal to the rate in which the New Index has increased in comparison with the Basic Index. If it shall transpire that the New Index is equal to the Basic Index or lower therefrom, the Amount of the Guarantee shall remain unchanged. We undertake to pay you, any sum specified in your written demand up to the Amount of the Guarantee, immediately and no later than fourteen (14) days from the date of ...
Construction Performance Bond. Prior to the issuance of the Notice to Proceed, the Concessionaire shall provide a Construction Performance Bond in an amount in NIS equivalent to , in the form attached to this Agreement as Annex N. The Construction Performance Bond will be valid from the date of issuance of the Notice to Proceed until Substantial Construction is attained by the Concessionaire and approved by the CTA.
Construction Performance Bond. Before beginning any construction work in or under the City streets requiring a street opening permit, Grantee shall furnish a performance bond to the City as is required for street opening permits. The bond shall run to the City, with good and sufficient surety approved by the City, and shall be in a sum equal to the anticipated cost of the work. The bond shall be subject to the approval of the City Attorney as to its adequacy under the requirements under this Section. The bond shall be conditioned that the Grantee shall well and truly observe, fulfill and perform each term and condition under Section 13, General Use of and Construction in the Right of Way. Grantee shall pay all premiums or costs associated with maintaining the bond, and shall keep the same in full force and effect at all times during the construction work. The bond shall provide that it may be terminated upon final approval of Grantee's construction work in or under the City 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.
Construction Performance Bond. (1) Within 60 days after the award of an initial or renewal Franchise, the grantee shall file with the City a performance bond in the amount of not less than $50,000 in favor of the City. This bond shall be maintained throughout the construction period and until such time as determined by the City unless otherwise specified in the Franchise agreement.
Construction Performance Bond. Upon an application for a permit involving excavation, installation, construction, restoration or relocation of the Facilities and if required by the City, Franchisee shall furnish a performance bond (“Performance Bond”) written by a corporate surety reasonably acceptable to the city in an amount equal to 150% of the construction cost. The Performance Bond shall guarantee the following: (1) timely completion of construction; (2) construction in compliance with all applicable plans, permits, technical codes, and standards; (3) proper location of the Facilities as specified by the City; (4) restoration of the Rights-of-Way and other City properties affected by the construction; (5) submission of as-built drawings after completion of construction; and (6) timely payment and satisfaction of all claims, demands, or liens for labor, materials, or services provided in connection with the work which could be asserted against the City or City property. Said bond must remain in full force until the obligations secured are fully performed as determined by the City’s final inspection and approval process, a Maintenance Bond as described in Section 19.2 is submitted to the City, and the City has released the Performance Bond in writing.
Construction Performance Bond. Corporate surety bond, in the form attached hereto as Exhibit F - Construction Performance Bond, in the penal sum of 100% of the Contractor’s Bid as accepted, to guarantee faithful performance of the Work; and,
Construction Performance Bond. In the event the Cable System is ------------------------------ further upgraded, removed, relocated or otherwise undergoes any reconfiguration or other change involving work costing more than $100,000, the City may require the Franchisee to provide a performance bond in a form and with a Company acceptable to the City to secure the faithful performance of such work, and to protect the City from any damages or expense arising out of the work, or the breach of any promise to perform it. The performance bond shall be in an amount equal to ten percent (10%) of the estimated total cost of the work, and in a form satisfactory to the City. Any performance bond required under this Section shall contain the following endorsement: "This bond may not be cancelled, or allowed to lapse, or the amount of the bond reduced until 30 days after receipt by each of the respective Clerks of the City of Manitowoc, by certified mail, of a written notice from the issuer of the bond of its intent to cancel the bond, to allow it to lapse, or to reduce the amount of the bond." Failure to maintain the performance bonds required herein shall constitute a material and substantial violation of this Agreement .
