Faithful Performance Guarantee. 2.2.2.1 Licensee shall furnish to City and maintain throughout the term of this License a security deposit also known as a Faithful Performance Guarantee, Performance Guarantee or Guarantee to secure the faithful performance by Licensee of all the terms, provisions, and covenants contained herein including, but not limited to, the payment of fees, damages, or other charges incurred pursuant to this License. Such Guarantee shall be separate from any other Guarantee(s) required by City. The initial amount of said Guarantee shall be in the amount of One Thousand Dollars ($1000) or three (3) times the highest monthly payment prescribed herein, whichever is greater, as determined by the Chief Executive Officer. The Faithful Performance Guarantee requirements for this License may be modified at any time by the Board, with thirty (30) days prior written notice. 2.2.2.2 If Licensee has previously provided such Guarantee to City and if, for any reason, Licensee’s monthly obligation to City increased in excess of ten percent (10%), and if three times the monthly obligation is greater than $1000, then, in the Chief Executive Officer’s sole discretion, the amount of Licensee’s Guarantee may, within thirty (30) days after receiving written notice from City, correspondingly be increased to a sum three (3) times the new amount. 2.2.2.3 Performance Guarantees of Ten Thousand Dollars ($10,000) or less shall be in the form of a Cashier’s Check, Company Check, Money Order, Certificate of Deposit or Irrevocable Letter of Credit. Performance Guarantees in excess of Ten Thousand Dollars ($10,000) shall be in the form of an Irrevocable Letter of Credit. Letters of Credit shall be self- renewing from year-to-year and subject to termination upon sixty (60) days written notice. All Performance Guarantees must be approved as to form by the City Attorney. 2.2.2.4 Licensee shall furnish such Guarantee in duplicate prior to License commencement or within thirty (30) days following notice of adjustment of the Performance Guarantee. If, for any reason, said Guarantee is not provided by Licensee and/or is not thereafter maintained in sufficient amount throughout the term hereof, City, may terminate this License at any time. Upon the expiration or earlier termination of this License, and if Licensee has satisfied all of its obligations to City hereunder, City shall relinquish to Licensee said Guarantee following such expiration or earlier termination and satisfaction of all obligations to ...

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;

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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. 13.3.1 If Concessionaire has previously provided such FPG to City and if, for any reason, Concessionaire's monthly monetary obligation to City is thereafter increased in excess of ten percent (10%), then the amount of Concessionaire's FPG shall, within thirty (30) days after receiving written notice from City, correspondingly be increased. 13.3.2 If Concessionaire has previously provided such FPG to City and if, for any reason, Concessionaire's monthly monetary obligation to City is thereafter decreased in excess of ten percent (10%), then the amount of Concessionaire's FPG may be correspondingly decreased thirty (30) days following written notice to City by Concessionaire.

Faithful Performance Guarantee. (Bond, Irrevocable Letter of Credit, Certificate of Deposit, Savings or Money Market Account)

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. 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. Prior to commencement of construction of any portion of the Work by Xxxxxxxxx’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 Count, (“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 bill Developer and the surety (or Sacramento County, if the Performance Guarantee is held by them) for the costs, which bill 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. 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. 10.2 To the extent City may require as part of City’s construction approval process that Alterations installed by Operator are to be removed upon the expiration or earlier termination of this Agreement, then the FPG may be increased by the amount reasonably estimated as the cost to remove such Alterations and to restore any damage to the Facilities caused thereby. 10.3 The FPG shall be in the form of (A) an irrevocable standby letter of credit (“LOC”), which shall be self-renewing with an “evergreen clause” that renews the credit from year to year without amendment, subject to termination upon sixty (60) days written notice to City or (B) a Bond, and issued by issuer acceptable to City, with offices in Los Angeles, California. The LOC or Bond, as applicable, shall allow for partial and multiple drawings by City, and must have an expiry date consistent with the ability to make such drawings for the full period required hereunder. The FPG and all amendments increasing the FPG Amount must be approved as to form by the City Attorney. 10.4 Operator shall furnish the FPG in duplicate no later than ten (10) days after the execution of this Agreement by Operator, and any amendments to the FPG relating to the adjustment of the FPG Amount shall be delivered to City within thirty (30) days following the effective date of such adjustment. If, for any reason, said FPG is not provided by Operator or is not thereafter maintained in sufficient amount throughout the Term hereof, City may terminate this Agreement for cause at any time upon giving Operator five (5) days...

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