Performance and Labor and Material Payment Bonds. The ESCO shall, prior to commencing the Project, deliver to the ISSUER a Performance Bond and a Labor and Material Payment Bond that conforms to the requirements of N.C. General Statute Chapter 44-A, Article 3. Notwithstanding any provision to the contrary herein, any payment and performance bonds associated with this agreement shall secure only the ESCO’s faithful performance of the installation portion of this Agreement, and shall not be construed to secure i) the energy savings guaranteed by the ESCO under this Agreement; ii) the performance of any support or maintenance service agreement, or iii) any other guarantees or warranties with terms beyond one (1) year in duration from the completion of the installation portion of this Agreement.
Appears in 5 contracts
Samples: Energy Services Agreement, Energy Services Agreement, Energy Services Agreement
