Payment Guarantee. 53.1. On Contracts where one hundred (100%) percent performance bonds and payment bonds are executed, this Article does not apply.
53.2. In the event the terms of this Contract do not require the Contractor to provide a payment bond or where the Contract does not require a payment bond for one hundred (100%) percent of the Contract price, the City shall, in accordance with the terms of this Article, guarantee payment of all lawful claims for:
53.2.1. Wages and compensation for labor performed and/or services rendered; and
53.2.2. Materials, equipment, and supplies provided, whether incorporated into the Work or not, when demands have been filed with the City as provided hereinafter by any person, firm, or corporation which furnished labor, material, equipment, supplies, or any combination thereof, in connection with the Work performed hereunder (hereinafter referred to as the “beneficiary”) at the direction of the City or the Contractor.
53.3. The provisions of Article 53.2 are subject to the following limitations and conditions:
53.3.1. If the Contractor provides a payment bond for a value that is less than one hundred (100%) percent of the value of the Contract Work, the payment bond provided by the Contractor shall be primary (and non-contributing) to the payment guarantee provided under this Article.
53.3.2. The guarantee is made for the benefit of all beneficiaries as defined in Article 53.2 provided that those beneficiaries strictly adhere to the terms and conditions of Articles 53.3.4 and 53.3.5.
53.3.3. Nothing in this Article shall prevent a beneficiary providing labor, services or material for the Work from suing the Contractor for any amounts due and owing the beneficiary by the Contractor.
53.3.4. Every person who has furnished labor or material, to the Contractor or to a Subcontractor of the Contractor, in the prosecution of the Work and who has not been paid in full therefor before the expiration of a period of ninety (90) Days after the date on which the last of the labor was performed or material was furnished by him/her for which the claim is made, shall have the right to sue on this payment guarantee in his/her own name for the amount, or the balance thereof, unpaid at the time of commencement of the action; provided, however, that a person having a direct contractual relationship with a Subcontractor of the Contractor but no contractual relationship express or implied with the Contractor shall not have a right of action upon the guarante...
Payment Guarantee. If all Payment guidelines were followed and a Payment is still posted late to your Account with a merchant resulting in a late fee, at our discretion, we will make an attempt to have the Merchant waive the late fees. If the Merchant is unwilling to waive late fees, up to $50 in late fees assessed by the Merchant will be covered by us. However, due to factors beyond our control such as the U.S. Mail and payment processing at the Merchant, it is not guaranteed that a Payment will post on the fifth business day (or second, if issued electronically). It is imperative to note that Merchant grace periods are not taken into consideration, and if adequate lead time prior to the payment due date was not allowed by you in scheduling the Payment, this Guarantee is void.
Payment Guarantee. Payment of the price of crude oil to be supplied hereunder shall be made on a timely basis and pursuant to the principles agreed upon by the parties hereto. PetroChina and Sinopec agree to be guarantors, and to assume joint and several guarantee liabilities for the failure of timely payment of the price of crude oil and other amounts payable by their respective oil refineries. The payer shall make timely payments to the payee upon receipt of and pursuant to the payment notice.
Payment Guarantee. Before ISR effects the Second Payment (as defined in the payment schedule in Section 9 above), and as a condition thereto, the Supplier shall furnish ISR with a bank guarantee in the full amount of the payment then due in the form attached hereto as Annex G1 (the "Payment Guarantee").
Payment Guarantee. Before payment by ISR of the Down Payment specified in Section 9 above, and as a condition thereto, the Supplier shall furnish ISR with an irrevocable autonomous bank guarantee in the full amount of such Down Payment in the form attached hereto as Annex G1 (the "Down Payment Guarantee").
Payment Guarantee. If the Student is under 18 years of age, a parent, guardian, or other guarantor agrees to guarantee to Georgia Institute of Technology that Student will pay the License Fee and Additional Fees as provided in this Contract. The parent, guardian or other guarantor further agrees to make all such payments to Georgia Institute of Technology if the student, for any reason, fails to make such payments. This agreement between Georgia Institute of Technology and the parent, guardian or other guarantor is an undertaking that is separate and distinct from Georgia Institute of Technology’s agreement with Student.
Payment Guarantee. 20.1 On Contracts where one hundred (100%) percent performance bonds and payment bonds are executed, this Article 20 does not apply.
Payment Guarantee. If a properly scheduled payment is not received and posted on time by the payee, we will attempt to have any late fees or assessed finance charges removed. Note that finance charges are calculated based on your payment amount rather than your entire balance. If the payee is unwilling or unable to remove the charges incurred, we will pay the fees and finance charges directly to the payee. In addition, we will attempt to have your account noted appropriately to ensure that the situation does not negatively impact your credit rating.
Payment Guarantee. Notwithstanding the payment guarantee provisions set forth in the FWA PLA, the parties hereby agree to cancel Axtel’s obligations set forth in the FWA PLA to provide a payment guarantee (a letter of credit) to Airspan to secure the payments to be made under the FWA PLA. Therefore, the Parties hereby agree that from the date of the execution of this Amendment Agreement No. 2, Axtel shall not be required to provide to Airspan any type of payment guarantee (including letters of credit) to secure its payments under the FWA PLA (including to secure the payments of the New Incremental FWA Equipment mentioned in Section 5 of this Amendment Agreement No. 2).
Payment Guarantee. Subject to the limitations, terms and conditions of this Agreement, we will reimburse you for any late payment fees or penalties you are required to pay, up to a maximum of $50.00 per Scheduled Payment, as a result of the failure of a Xxxxxx to receive a Payment made through the Bill Pay Service by the Due Date, subject to the following conditions: • Sufficient collected funds must be on deposit in the Payment Account to cover the amount of the Payment. • You must properly enter instructions for the Payment and schedule the Payment so that it may arrive on or in advance of the Due Date in accordance with the terms of this Agreement. • The Xxxxxx must be a business. • The late payment fee or penalty, or the method of its calculation, must be published by the Xxxxxx prior to the Due Date. • You must otherwise be in compliance with the terms and conditions of this Agreement.
