Contractor Performance Security. 3.17.1 Contractor shall provide on the Effective Date surety performance and payment bonds each with a penal sum equal to the Contract Price (“Performance and Payment Bonds”), in the form of Exhibit M and issued by a Qualified Surety, as security for the Contractor’s performance and payment obligations under this Agreement. Such performance and payment bonds shall be maintained until the expiration of the Warranty Period as defined in Section 1.1 and Section 16.2 of this Agreement.
Appears in 4 contracts
Samples: Procurement and Construction Agreement (Powersecure International, Inc.), Procurement and Construction Agreement (Powersecure International, Inc.), Procurement and Construction Agreement (Powersecure International, Inc.)
Contractor Performance Security. 3.17.1 Contractor shall provide on or before the Effective Date date on which Owner issues the Notice to Proceed surety performance and payment bonds each with a penal sum equal to the Contract Price (“Performance and Payment Bonds”), in the form of Exhibit M and issued by a Qualified Surety, as security for the Contractor’s performance and payment obligations under this Agreement. Such performance and payment bonds shall be maintained until the expiration of the Warranty Period as defined in Section 1.1 and Section 16.2 of this Agreement.
Appears in 3 contracts
Samples: And Construction Agreement, And Construction Agreement (Powersecure International, Inc.), And Construction Agreement (Powersecure International, Inc.)
