FINANCIAL GUARANTEES. Except as otherwise provided, Subdivider shall install and construct said required improvements by private contracts secured by bonds, irrevocable letters of credit, sequential development, or any other method that may be acceptable to the Planning Board and Board of County Commissioners. All engineering and legal work in connection with such improvements shall be paid by the contracting parties pursuant to said special improvement district or private contract, and the improvements shall be designed by and constructed under the supervision of a professional engineer competent in civil engineering, licensed in the state of Montana. Upon completion of the improvements, the consulting Engineer shall file with the Public Works Department, a statement certifying that the improvements have been completed in accordance with approved, seal stamped, record drawings, along with all required post-construction certification per Section 4.6.C. of the Yellowstone County Subdivision Regulations. (In the event that all required improvements are not installed and constructed prior to final plat approval, the Subdivider shall provide a monetary security guarantee in the amount of 125% of the estimated total cost by one (1) of the methods listed in Chapter 5 of the Yellowstone County Subdivision Regulations. If using a security, describe the method in this section)
FINANCIAL GUARANTEES. Except as otherwise provided, Subdivider shall install, and construct said required improvements with cash or by utilizing the mechanics of a special improvement district or private contracts secured by letters of credit or a letter of commitment to lend funds from a commercial lender. All engineering and legal work in connection with such improvements shall be paid by the contracting parties pursuant to said special improvement district or private contract, and the improvements shall be installed as approved by the City Engineer and Utility Department Manager.
FINANCIAL GUARANTEES.
28.1. On the Effective Date, upon commencement of each renewal period of the Exploration Period entered into under Article 6 and upon the approval being granted for a Minimum Exploration Work Programme under Article 11 or for any Appraisal Programme pursuant to Article 14, the Contractor shall provide the Minister with irrevocable guarantees from a guarantor of financial substance acceptable to the Minister for an amount equal to:
(a) Twenty percent (20%) of the value of the expenditure commitment for the relevant Work Programme or period;
(b) One hundred percent (100%) of the estimated value of the Retention work commitment prescribed under Article 8.7(g);
(c) One hundred percent (100%) of the estimated cost of plugging and abandoning xxxxx and site restoration associated with Exploration Operations; the Appraisal Programme; and the Retention Period.
(d) The sum of Five Million United States Dollars (US$5,000,000.00) for the performance of any obligation under the Agreement other than those covered by the guarantees under (a) above, including but not limited to obligations arising under Articles 32.1, 33.1, 37.7 and 44.7. Such guarantees shall be in the form of a bank guarantee or letter of credit and of substance acceptable to the Minister.
28.2. Upon delivery to the issuing guarantor of a certificate from the Contractor countersigned on behalf of the Minister or its Designee by a duly authorized official that the corresponding Minimum Exploration Work Programme has been completed in accordance with the Agreement and that all technical data related thereto have been delivered to the Minister the guarantee(s) shall be cancelled and discharged with regard to the applicable phase of the Exploration Period or Work Programme.
28.3. Where the Contractor has failed to perform in accordance with this Agreement all or any part of accrued Work Programmes:
(a) at the end of any period of the Exploration Period;
(b) at the end of an approved period in respect of a Retention Area pursuant to Article 8;
(c) at the end of an approved period in respect of an Appraisal Programme pursuant to Article 14; or
(d) upon termination of this Agreement, the Contractor or its guarantor shall on demand from the Minister pay the Minister the entire remaining amount of such outstanding guarantee or guarantees within two (2) weeks of receipt of a written notice from the Minister indicating the amount due to be paid.
28.4. On the Effective Date, the Contractor shall deliver to the Mi...
FINANCIAL GUARANTEES. All the orders which the company LABORATOIRES XXXXXXX agrees to carry out are it taking into account the fact that the professional purchaser presents the sufficient financial guarantees and that it will effectively regulate the sums due to their expiry, in accordance with the legislation. Also, if the company LABORATOIRES XXXXXXX has serious or particular reasons to fear difficulties of payment on behalf of the professional purchaser at the date of the order or after this one, or if the professional purchaser does not present the same guarantees as at the date of acceptance of the order, the company LABORATOIRES XXXXXXX can subordinate the acceptance of the order or the continuation of its execution to the provision, by the professional purchaser, of guarantees in the profit of the company LABORATOIRES XXXXXXX or to a payment before forwarding. The company LABORATOIRES XXXXXXX will also have the faculty, before the acceptance of any order, as during the execution, to require from the professional purchaser communication of its accounting documents, and in particular of the profit and loss accounts, even provisional, allowing the company LABORATOIRES XXXXXXX to appreciate its solvency. In case of refusal by the professional purchaser of the payment before expedition, or without any sufficient guarantee being proposed by this last one, the company LABORATOIRES XXXXXXX can refuse to honour the order(s) placed and to deliver the concerned products, without the professional purchaser being able to argue of an unjustified refusal of sale or to claim any compensation.
FINANCIAL GUARANTEES. Except as otherwise provided, Subdivider shall install and construct said required improvements by private contracts secured by bonds, irrevocable letters of credit, sequential development, or any other method that may be acceptable to the Planning board and Board of county Commissioners. All engineering and legal work in connection with such improvements shall be paid by the contracting parties pursuant to said private contract, and the improvements shall be designed by and constructed under the supervision of a professional engineer competent in civil engineering, licensed in the State of Montana. Upon completion of the improvements, the consulting engineer shall file with the Public Works Department, a statement certifying that the improvements have been completed in accordance with approved, seal stamped, record drawings, along with all post-construction certification per Section 4.6.C. of the Yellowstone County Subdivision Regulations.
FINANCIAL GUARANTEES. Not applicable.
FINANCIAL GUARANTEES. 18.1 The Contractor shall secure the performance of all contractual obligations and the payment of damages caused by the breach of Contract for the amount specified in Part A.
18.2 Security may be lodged at the Contractor’s choice, either in cash as a deposit or in the form of a guarantee issued by a financial institution approved by Enel and complying with the criteria listed below. The economic guarantee must:
a) have an unconditional and irrevocable character;
b) be issued for the benefit of Enel;
c) be payable on first demand by Enel only submitting a written statement to the issuing institution stating that it has the right of repayment of the economic guarantee.
18.3 The financial institution issuing the guarantee shall be a bank, an insurance company or a financial intermediary authorized to operate in surety business by relevant authorities.
18.4 In case the issuer bank’s creditworthiness deteriorates, the Contractor shall provide within 60 days, upon Enel’s request, the guarantee replacement issued by a financial institution approved by Enel. In case of failure to provide the guarantee, Enel may, in accordance with applicable law, block payments to the Contractor.
18.5 The existence of a guarantee does not mean that the Contractor’s liability under this Contract is limited to the amount or period of validity of the guarantee. If the Price increases during its execution, Enel may request that the Contractor provides a supplementary or a replacement economic guarantee to cover the increased Price.
18.6 In case the Contractor fails to comply with the supplementing or replacement of the guarantees foreseen as provided in this Clauses 18, Enel reserves the right to terminate the Contract, or, in accordance with applicable law, to block payments to the Contractor until the due security amount is reached.
FINANCIAL GUARANTEES. Except as otherwise provided, Subdivider shall install and construct said required improvements with cash or by utilizing the mechanics of a private contract secured by letters of credit or a letter of commitment to lend funds from a commercial lender. All engineering and legal work in connection with such improvements shall be paid by the contracting parties pursuant to said private contract, and the improvements shall be installed as approved by the City Engineer and Utility Department Manager.
FINANCIAL GUARANTEES. Except as otherwise provided, Subdivider shall install and construct said required improvements by private contracts secured by letters of credit or a letter of commitment to lend funds from a commercial lender (see list of guarantee types). All engineering and legal work in connection with such improvements shall be paid by the contracting parties pursuant to said special improvement district or private contract, and the improvements shall be installed as approved by the County/Town. Upon completion of the improvements, the consulting engineer shall file with the Public Works Department, a statement certifying that the improvements have been completed in accordance with approved as-built plans. (In the event that all required improvements are not installed and constructed prior to final plat approval, the Subdivider shall provide a monetary security guarantee in the amount of 110% of the estimated total cost by one (1) of the methods listed in this Appendix. Construction of the improvements for which a monetary guarantee is provided must be completed within one year unless a longer timeframe is allowed by the governing body at the time of conditional approval of the preliminary plat.)
FINANCIAL GUARANTEES. There are no Financial Guarantees associated with this subdivision as no public improvements are required.
