Common use of Faithful Performance Guarantee Clause in Contracts

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 City. The Guarantee shall be submitted to: Revenue Accounting Department of Airports P.O. Box 92214 Los Angeles, CA 90009

Faithful Performance Guarantee. 2.2.2.1 7.1 Prior to License execution, Licensee shall furnish to City and maintain throughout the term of this License a security deposit also known as a Faithful Performance GuaranteeGuarantee of One Hundred Thousand Dollars ($100,000) or three times the estimated monthly payment, Performance Guarantee or Guarantee whichever is greater, to secure the faithful performance by Licensee of all the terms, provisions, and covenants contained herein includingherein, including but not limited to, the to covering Licensee’s delinquent payment of fees, damages, or and its other charges incurred pursuant obligations to this LicenseCity. Such Guarantee shall be separate from any other Guarantee(s) required by City. The initial amount of said Guarantee shall be in the amount submitted to: Los Angeles World Airports Attn: Accounting Operations FPG Coordinator XX Xxx 00000 Xxx Xxxxxxx, XX 00000-0000 7.2 FPGs of One Twenty Five 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 ($10,00025,000) 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 Twenty Five Thousand Dollars ($10,00025,000) shall be in the form of an Irrevocable Letter of CreditCredit only. Letters of Credit shall be self- self-renewing from year-to-year and subject to termination upon sixty shall remain in full force and effect for a minimum period of ninety (6090) days written noticefollowing termination or cancellation of License. All Performance Guarantees FPGs must be approved as to form by the City Attorney. 2.2.2.4 7.3 If Licensee’s monthly monetary obligation to City is thereafter increased in excess of ten percent (10%), Licensee shall furnish such Guarantee shall, within sixty (60) days after receiving written notice from City, increase the amount of the FPG to equal the sum of three (3) times the new amount. If Licensee’s monthly monetary obligation to City is thereafter decreased in duplicate prior excess of ten percent (10%), the amount of the FPG may be correspondingly decreased to License commencement or within thirty a sum equal to three (303) times the new amount sixty (60) days following written notice to City by Customer. 7.4 If all or any part of adjustment said FPG is used to pay delinquent account as set forth in Section 6 above, Licensee shall, within sixty (60) days after draw down, replenish said FPG so that the FPG will equal to three (3) times the highest monthly fee at all times during the term of the Performance Guarantee. If, for any reason, said Guarantee is not provided by Licensee and/or is not thereafter maintained License. 7.5 Failure to replenish the FPG after ninety (90) days from drawdown or failure to maintain the FPG in a sufficient amount throughout the term hereof, City, may terminate this License at any time. shall constitute a material breach of contract. 7.6 Upon the expiration or earlier termination of this License, License and if Licensee has satisfied all of its obligations to City hereunder, City shall relinquish to Licensee said Guarantee FPG balance following such expiration or earlier termination and satisfaction of all obligations to City. The Guarantee shall be submitted to: Revenue Accounting Department of Airports P.O. Box 92214 Los Angeles, CA 90009.

Faithful Performance Guarantee. 2.2.2.1 Licensee 6.1. Lessee shall furnish to City and maintain throughout the term of this License a security deposit also known as a Faithful Performance GuaranteeLease and for sixty (60) days following Lease termination, Performance Guarantee or Guarantee an FPG to secure the faithful performance by Licensee Lessee of all the terms, provisions, and covenants contained herein including, but not limited to, the payment of fees, damages, or rent and any other charges incurred pursuant to this Licensespecified compensation. Such Guarantee FPG shall be separate from any other Guarantee(sguarantee(s) required by CityCity of Lessee. The initial amount of said Guarantee FPG shall be in the amount of One Thousand Dollars ($1000) or three (3) times the highest monthly payment 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, whichever pursuant to subsections 6.2 and 6.3 below. If all or any part of the FPG is greaterused to pay delinquent balances, as determined by the Chief Executive Officer. The Faithful Performance Guarantee requirements for this License may be modified at any time by the BoardLessee shall, with thirty within sixty (3060) days prior written noticeafter draw down, replenish said FPG so that the FPG equals three (3) times the highest monthly rental amount. 2.2.2.2 6.2. If Licensee Lessee has previously provided such Guarantee FPG to City and if, for any reason, Licensee’s Lessee's monthly monetary obligation to City for use of the Demised Premises under this Lease is thereafter 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, then the amount of Licensee’s Guarantee mayLessee's FPG shall, within thirty sixty (3060) days after receiving written notice from City, correspondingly be increased to a sum three (3) times of the new amountmonthly amount prescribed under this Lease. 2.2.2.3 Performance Guarantees 6.3. If Lessee has previously provided such FPG to City and if, for any reason, Lessee's monthly monetary obligation to City for use of Ten the Demised Premises under this Lease is SECOND AMENDMENT TO LEASE NO. LAA-4892 4 RELIANT LAX CLINIC, LLC thereafter decreased in excess of ten percent (10%), then the amount of Lessee's FPG may be correspondingly decreased to a sum three (3) times of the new amount prescriber under this Lease, within sixty (60) days following written notice to City by Lessee. 6.4. FPGs of Twenty Five Thousand Dollars ($10,00025,000) 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 FPGs in excess of Ten Twenty Five Thousand Dollars ($10,00025,000) shall be in the form of an Irrevocable Letter of Credit. Letters of Credit shall be self- self-renewing from year-to-year and shall remain in full force and effect for a minimum period of sixty (60) days following termination or cancellation of the Lease. However, the Irrevocable Letter of Credit may be subject to termination upon sixty (60) days written noticenotice (subject to Subsection 56.5), provided that, Lessee shall first give City notice in writing of its intent to terminate the Letter of Credit and provide a replacement Irrevocable Letter of Credit to City so that there is no lapse in coverage. All Performance Guarantees FPGs must be approved as to form by the City Attorney. 2.2.2.4 Licensee 6.5. Lessee shall furnish one original and one copy of such Guarantee in duplicate prior to License commencement FPG on or before the Rent Commencement Date or within thirty (30) days following notice of adjustment of the Performance Guaranteerent. If, for any reason, said Guarantee FPG is not provided by Licensee Lessee and/or is not thereafter maintained in sufficient amount throughout the term hereof, or replenished within sixty (60) days of drawdown, City, may terminate this License Lease at any timetime upon giving Lessee a thirty (30) day advance written notice. Upon the expiration or earlier termination of this LicenseLease, and if Licensee Lessee has satisfied all of its obligations to City hereunder, City shall relinquish to Licensee Lessee said Guarantee FPG following such expiration or earlier termination and satisfaction of all obligations to CityCity within sixty (60) days of that determination. The Guarantee FPG shall be submitted to: Revenue Accounting Department of Airports P.O. Box 92214 Los Angeles, CA 90009:

Faithful Performance Guarantee. 2.2.2.1 15.1. Prior to License execution, Licensee shall furnish to City LAWA and maintain throughout the term of this License a security deposit also known as a Faithful Performance Guarantee, Performance Guarantee or Guarantee (“FPG”) to secure the faithful performance by Licensee of all the terms, provisions, and covenants contained herein includingherein, including but not limited to, the to covering Licensee’s delinquent payment of fees, damages, or and its other charges incurred pursuant obligations to this LicenseLAWA. Such Guarantee shall be separate from any other Guarantee(s) required by CityLAWA if any. The initial amount FPG shall be a minimum of said 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 15.2. The FPG shall be in the amount form of One Thousand Dollars an Irrevocable Letter of Credit only. Letters of Credit shall be self-renewing from year-to-year and shall remain in full force and effect for a minimum period of ninety ($100090) days following termination or three (3) times the highest monthly payment prescribed herein, whichever is greater, cancellation of License. All FPGs must be approved as determined to form 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 noticeCity Attorney. 2.2.2.2 15.3. If Licensee has previously provided such Guarantee to City and if, for any reason, Licensee’s monthly monetary obligation to City LAWA is thereafter 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 mayLicensee shall, within thirty (30) days after receiving written notice from CityLAWA, correspondingly be increased increase the amount of the FPG to a equal the sum of 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. If Licensee’s Check, Company Check, Money Order, Certificate of Deposit or Irrevocable Letter of Credit. Performance Guarantees monthly monetary obligation to LAWA is thereafter decreased in excess of Ten Thousand Dollars ten percent ($10,00010%), the amount of the FPG may be correspondingly decreased to a sum equal to three (3) shall be in times 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 (60new amount thirty(30) days following written notice. All Performance Guarantees must be approved as notice to form LAWA by the City AttorneyLicensee. 2.2.2.4 15.4. If all or any part of said FPG is used to pay delinquent account as set forth in Section 14 above, Licensee shall furnish such Guarantee in duplicate prior to License commencement or shall, within thirty (30) days following notice of adjustment after draw down, replenish said FPG so that the FPG will equal to three (3) times the highest monthly fee at all times during the term of the Performance GuaranteeLicense. 15.5. If, for any reason, said Guarantee is not provided by Licensee and/or is not thereafter maintained Failure to replenish the FPG after ninety (90) days from drawdown or failure to maintain the FPG in a sufficient amount throughout the term hereof, City, may terminate this License at any timeshall constitute a material breach of contract. 15.6. Upon the expiration or earlier termination of this License, License and if Licensee has satisfied all of its obligations to City LAWA hereunder, City LAWA shall relinquish to Licensee said Guarantee FPG balance following such expiration or earlier termination and satisfaction of all obligations to City. The Guarantee shall be submitted to: Revenue Accounting Department of Airports P.O. Box 92214 Los Angeles, CA 90009LAWA.

Faithful Performance Guarantee. 2.2.2.1 15.1. Prior to License execution, Licensee shall furnish to City LAWA and maintain throughout the term of this License a security deposit also known as a Faithful Performance Guarantee, Performance Guarantee or Guarantee (“FPG”) to secure the faithful performance by Licensee of all the terms, provisions, and covenants contained herein includingherein, including but not limited to, the to covering Licensee’s delinquent payment of fees, damages, or and its other charges incurred pursuant obligations to this LicenseLAWA. Such Guarantee shall be separate from any other Guarantee(s) required by CityLAWA if any. The initial amount of said Guarantee FPG shall be in the amount a minimum of One Hundred Thousand Dollars ($1000100,000) or three (3) times the highest NELA-Transportation Network Companies (TNCs) 7-15-15/ NAK / k drive v8 estimated monthly payment prescribed hereinpayment, whichever is greater, as determined by the Chief Executive Officersubmitted to: Los Angeles World Airports Attn: Accounting Operations FPG Coordinator XX Xxx 00000 Xxx Xxxxxxx, XX 00000-0000 The Guarantee shall be 15.2. 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) FPG shall be in the form of an Irrevocable Letter of CreditCredit only. Letters of Credit shall be self- self-renewing from year-to-year and subject to termination upon sixty shall remain in full force and effect for a minimum period of ninety (6090) days written noticefollowing termination or cancellation of License. All Performance Guarantees FPGs must be approved as to form by the City Attorney. 2.2.2.4 15.3. If Licensee’s monthly monetary obligation to LAWA is thereafter increased in excess of ten percent (10%), Licensee shall furnish such Guarantee shall, within sixty (60) days after receiving written notice from LAWA, increase the amount of the FPG to equal the sum of three (3) times the new amount. If Licensee’s monthly monetary obligation to LAWA is thereafter decreased in duplicate prior excess of ten percent (10%), the amount of the FPG may be correspondingly decreased to License commencement or within thirty a sum equal to three (303) times the new amount sixty (60) days following written notice to LAWA by Licensee. 15.4. If all or any part of adjustment said FPG is used to pay delinquent account as set forth in Section 14 above, Licensee shall, within sixty (60) days after draw down, replenish said FPG so that the FPG will equal to three (3) times the highest monthly fee at all times during the term of the Performance GuaranteeLicense. 15.5. If, for any reason, said Guarantee is not provided by Licensee and/or is not thereafter maintained Failure to replenish the FPG after ninety (90) days from drawdown or failure to maintain the FPG in a sufficient amount throughout the term hereof, City, may terminate this License at any timeshall constitute a material breach of contract. 15.6. Upon the expiration or earlier termination of this License, License and if Licensee has satisfied all of its obligations to City LAWA hereunder, City LAWA shall relinquish to Licensee said Guarantee FPG balance following such expiration or earlier termination and satisfaction of all obligations to City. The Guarantee shall be submitted to: Revenue Accounting Department of Airports P.O. Box 92214 Los Angeles, CA 90009LAWA.