Common use of Faithful Performance Bond Clause in Contracts

Faithful Performance Bond. a) Upon the effective date of this Franchise, the Grantee shall furnish proof of the posting of a faithful performance bond running to the Grantor with good and sufficient surety approved by the Grantor, in the penal sum of Ten Thousand Dollars, or the deposit of $10,000 in a restricted account satisfactory to the Grantor, conditioned that the Grantee shall well and truly observe, fulfill and perform each term and condition of this Franchise. Such bond shall be maintained by the Grantee throughout the term of this Franchise.

Faithful Performance Bond. a(A) Upon the effective date of this Franchise, the The Grantee shall furnish proof of the posting of a faithful performance bond running to the Grantor Grantor, in a form approved by the Grantor, with good and sufficient surety approved by the Grantor, Grantor in the penal total sum of Ten Thousand Dollars, or the deposit of one hundred fifty thousand dollars ($10,000 in a restricted account satisfactory to the Grantor150,000.00), conditioned that the Grantee shall well and truly observe, fulfill fulfill, and perform each term and condition of this Franchise. Such bond shall be maintained posted as provided in Section 2.4 and by the Grantee throughout the term of this Franchise.

Faithful Performance Bond. a(A) Upon the effective date of this Franchise, the The Grantee shall furnish proof of the posting of a faithful performance bond running to the Grantor Grantor, in a form approved by the Grantor, with good and sufficient surety approved by the Grantor, Grantor in the penal total sum of Ten Thousand Dollars, or the deposit of two hundred thousand dollars ($10,000 in a restricted account satisfactory to the Grantor200,000.00), conditioned that the Grantee shall well and truly observe, fulfill fulfill, and perform each term and condition of this Franchise. Such bond shall be maintained posted as provided in Section 2.4 and by the Grantee throughout the term of this Franchise.