Faithful Performance Guarantee. Failure of Concessionaire to provide and maintain the Faithful Performance Guarantee as required under this Agreement for a period of five (5) days after written notice;
Faithful Performance Guarantee. Prior to commencement of construction of any portion of the Work by Developer’s Contractor, Developer must provide District with a faithful performance bond, letter of credit or other financial security satisfactory to District, such as a performance bond held by Sacramento County and enforceable by District(“Performance Guarantee”) in a sum equal to no less than 100% of the estimated cost of the Work to be constructed in public or private streets or rights-of-way or on public property. The Performance Guarantee will be for the purpose of insuring the proper and timely completion of the Work. In the event of the failure of Developer to complete the Work covered by the Performance Guarantee and District completes construction of the Work or any portion of it, Developer and its surety under the Performance Guarantee will be jointly and severally liable to District for the costs of completion, including, but not limited to, management and administrative costs, and engineering, legal and other costs incurred relating to the completion. District will xxxx Developer and the surety (or Sacramento County, if the Performance Guarantee is held by them) for the costs, which xxxx must be paid within thirty days of its date. Interest will accrue on any late payment at the legal rate then prevailing.
Faithful Performance Guarantee. Concessionaire shall furnish to City, at Concessionaire's sole cost and expense, and shall keep in full force and effect and available during the complete term of this Agreement (including any unauthorized hold over period) and for thirty (30) days after the surrender of possession in accordance with the requirements of this Agreement, a Faithful Performance Guarantee ("FPG") to secure the faithful performance by Concessionaire of all terms, provisions, and covenants contained herein, including, but not limited to, the payment of its Monthly Base Rent, Additional Rent, and any other specified compensation. The initial amount of the FPG shall be an amount equal to twenty five percent (25%) of the MAG as specified in this Agreement. Such FPG shall be separate from any other guarantee(s) required by City.
Faithful Performance Guarantee. Concessionaire shall furnish to City, at Concessionaire's sole cost and expense, and shall keep in full force and effect and available during the complete term of this Agreement (including any unauthorized hold over period) and for thirty (30) days after tire surrender of possession in accordance with the requirements of this Agreement, a Faithful Performance Guarantee ("FPG") to secure the faithful performance by Concessionaire of all terms, provisions, and covenants contained herein, including, but not limited to, the payment of its Monthly Base Rent (including any Percentage Fees), Additional Rent, and any other specified compensation. The initial amount of the FPG shall be twelve (12) times an amount equal to twenty five percent (25%) of the Minimum Monthly Guaranteed Rent as specified in this Agreement. Such FPG shall be separate from any other guarantee(s) required by City.
Faithful Performance Guarantee. 10.1 Within ten (10) days following the execution of this Agreement by Operator, Operator shall furnish to City, at Operator’s sole cost and expense, and shall keep in full force and effect and available during the Term of this Agreement and for thirty (30) days after the vacation of the Facilities in accordance with the requirements of this Agreement, a Faithful Performance Guarantee (“FPG”) in the form of either a letter of credit or a performance and payment bond (“Bond”) acceptable to, and approved as to form by, the Los Angeles City Attorney’s Office, to secure the faithful and timely performance by Operator of all terms, provisions, and covenants contained in this Agreement. The form of the Bond is attached to this Agreement as Exhibit G-l. The amount of the FPG shall be Five Million Dollars ($5,000,000) (herein, the “FPG Amount”). Such FPG shall be separate from any other guarantee(s) required by City.
Faithful Performance Guarantee. (Bond, Irrevocable Letter of Credit, Certificate of Deposit, Savings or Money Market Account) Subdivider shall secure its faithful performance of this Agreement and every part thereof by filing with the County an acceptable Faithful Performance Guarantee issued by a company or bank authorized to do business in the State of Nevada in the amount of $ in the event Subdivider shall fail or neglect to fulfill any or all of its obligations under this Agreement, County shall make demand under the terms of the Performance Guarantee and initiate any action necessary to insure the completion of the improvements called for in this Agreement. Should the cost of completing the work exceed the amount available under the terms of the Performance Guarantee, Subdivider agrees to pay such excess amount to County on demand. County shall not accept or assume any responsibility for operation and maintenance of the subdivision improvements until final completion and acceptance by County in accordance with the procedures set forth in Paragraph 4 herein, and no representation or forbearance by any officer or agent of County to the contrary shall obligate County or constitute acceptance of the said improvements.
Faithful Performance Guarantee. 15.1. Prior to License execution, Licensee shall furnish to LAWA and maintain throughout the term of this License a Faithful Performance Guarantee (“FPG”) to secure the faithful performance by Licensee of all the terms, provisions, and covenants contained herein, including but not limited to covering Licensee’s delinquent payment and its other obligations to LAWA. Such Guarantee shall be separate from any other Guarantee(s) required by LAWA if any. The FPG shall be a minimum of One Hundred Thousand Dollars ($100,000) or three times the estimated monthly payment, whichever is greater. The Guarantee shall be submitted to: Los Angeles World Airports Attn: Accounting Operations FPG Coordinator XX Xxx 00000 Xxx Xxxxxxx, XX 00000-0000
Faithful Performance Guarantee. 7.1 Prior to License execution, Licensee shall furnish to City and maintain throughout the term of this License a Faithful Performance Guarantee of One Hundred Thousand Dollars ($100,000) or three times the estimated monthly payment, whichever is greater, to secure the faithful performance by Licensee of all the terms, provisions, and covenants contained herein, including but not limited to covering Licensee’s delinquent payment and its other obligations to City. Such Guarantee shall be separate from any other Guarantee(s) required by City. The Guarantee shall be submitted to: Los Angeles World Airports Attn: Accounting Operations FPG Coordinator XX Xxx 00000 Xxx Xxxxxxx, XX 00000-0000
Faithful Performance Guarantee. Contractor shall furnish to City, at Contractor’s sole cost and expense, and shall keep in full force and effect and available during the Term of this Agreement and for thirty (30) days after the vacation of the management and operation of the bus maintenance services in accordance with the requirements of this Agreement, a Faithful Performance Guarantee (“FPG”) to secure the faithful and timely performance by Contractor of all terms, provisions, and covenants contained in this Agreement. The amount of the FPG shall be Five Hundred Thousand Dollars ($500,000) (herein, the “FPG Amount”). Such FPG shall be separate from any other guarantee(s) required by City.
Faithful Performance Guarantee. 6.1. Lessee shall furnish to City and maintain throughout the term of this Lease and for sixty (60) days following Lease termination, an FPG to secure the faithful performance by Lessee of all the terms, provisions, and covenants contained herein including, but not limited to, the payment of rent and any other specified compensation. Such FPG shall be separate from any other guarantee(s) required by City of Lessee. The initial amount of said FPG shall be three (3) times the highest monthly rental amount, commencing with the initial first year’s rent, prescribed herein. Any adjustments to Monthly Rent shall also result in a commensurate adjustment to the FPG, pursuant to subsections 6.2 and 6.3 below. If all or any part of the FPG is used to pay delinquent balances, Lessee shall, within sixty (60) days after draw down, replenish said FPG so that the FPG equals three (3) times the highest monthly rental amount.
