Common use of Maintenance Security Clause in Contracts

Maintenance Security. 4.1 P&P Letter of Credit; Maintenance Payment and Performance Bonds DB Contractor shall provide to TxDOT no later than 14 days prior to the Initial Maintenance Term Commencement Date, and shall maintain at all times during the Maintenance Period, including during the Initial Maintenance Term and all subsequent Maintenance Terms for which a Maintenance NTP has been issued, adequate security securing DB Contractor’s obligations hereunder in the form of either (i) the P&P Letter of Credit in accordance with Sections 3.2.1 and 3.2.2 of the CMA General Conditions or (ii) the Maintenance Performance Bond and Maintenance Payment Bond in accordance with Section 3.2.3 of the CMA General Conditions (the “Maintenance Security”). Each bond and each rider required pursuant to Section 3.2 of the CMA General Conditions shall be provided in the applicable form set forth in Exhibit 5 to this CMA.

Maintenance Security. 4.1 P&P Letter of Credit; Maintenance Payment and Performance Bonds DB Contractor shall provide to TxDOT no later than 14 120 days prior to the Initial Maintenance Term Commencement Date, and shall maintain at all times during the Maintenance Period, including during the Initial Maintenance Term and all subsequent Maintenance Terms for which a Maintenance NTP has been issued, adequate security securing DB Contractor’s obligations hereunder in the form of either (i) the P&P Letter of Credit in accordance with Sections 3.2.1 and 3.2.2 of the CMA General Conditions or (ii) the Maintenance Performance Bond and Maintenance Payment Bond in accordance with Section 3.2.3 of the CMA General Conditions (the “Maintenance Security”). Each bond and each rider required pursuant to Section 3.2 of the CMA General Conditions shall be provided in the applicable form set forth in Exhibit 5 6 to this CMA.