Guarantee of Performance and Payment. Redeveloper guarantees payment of all amounts lawfully due to each person, as defined in Neb. Rev. Stat. §49-801 that performed labor or furnished materials, equipment or supplies used in the prosecution of the Redeveloper Improvements.
Guarantee of Performance and Payment. The Guarantors, jointly and ------------------------------------ severally as primary obligors and not as sureties only, hereby unconditionally and irrevocably guarantee to Gateway, in an amount not to exceed $11,000,000, the performance by Vitech of its obligations to Gateway arising out of or in connection with the Loan Documents, including without limitation, the due and punctual payment of an aggregate of $11,000,000 of any and all sums owed by Vitech under the Loan Documents (collectively, the "Guaranteed Obligations"). ---------------------- This guaranty shall remain in effect so long as Vitech has any obligations under the Loan Documents. The Guarantors' liabilities and obligations hereunder shall not exceed the lesser of (i) $11,000,000 or (ii) the liabilities and obligations of Vitech to Gateway arising out of or in connection with the Loan Documents, except that the Guarantors shall also be liable for the costs and expenses set forth in Section 7 hereof.
Guarantee of Performance and Payment. Concessionaire will, promptly upon execution of this Agreement and prior to the commencement of the term of this Agreement, deliver to Authority, the amount of $250,000.00, to be paid by certified check or cashier’s check, to serve as a security deposit for the full and faithful performance by Concessionaire of all terms, covenants, and conditions of this agreement including but not limited to the rentals, fees, and charges to be paid, throughout the entire term of this agreement. Concessionaire’s failure to provide the required security will be a material breach and default of the agreement. The Authority may, at its sole discretion, periodically require Concessionaire to increase or decrease the amount of the security deposit posted under this Article at any time upon sixty (60) days written notice, based on Authority’s assessment of loss exposure to the Authority and Concessionaire’s performance of its obligations under this agreement. If Concessionaire defaults on any duty under this Agreement, Authority may apply the security deposit to damages sustained. If Concessionaire faithfully performs the obligations of this Agreement and timely vacates the premises and removes its equipment upon expiration, Authority will repay the security deposit, without interest, within 45 days after such expiration and timely vacation and removal from the Airport. In lieu of a cash security deposit, Concessionaire may deliver to Authority a binding guaranty (performance bond), in form and substance acceptable to Authority, duly issued by a surety company which is acceptable to Authority, or an irrevocable letter of credit, in the amount stated above, to serve as security for the full and faithful performance by Concessionaire of all terms, covenants, and conditions of this Agreement including but not limited to the rentals, fees, and charges to be paid, throughout the entire term of this Agreement. Such bond or letter of credit shall be in full force and effect during the term of this agreement, provided that if initially issued for a lesser term, Concessionaire shall deliver a renewal certificate or replacement guaranty (similar in all respects to the initial guaranty) to the Authority at least 30 days before expiration of the then current guaranty; failure to do so will constitute a breach and entitle Authority to collect the above amount under the existing bond or letter of credit and hold the cash as a cash security deposit, without interest, until an acceptable lett...
