Common use of Performance Bond/Letter of Credit Clause in Contracts

Performance Bond/Letter of Credit. A Performance Bond or an Irrevocable Standby Letter of Credit in the form reasonably acceptable to Hawaiian Electric shall be furnished by Seller and deposited with Hawaiian Electric in the amount of FIVE MILLION DOLLARS ($5,000,000.00), guaranteeing Seller’s full compliance with and performance under this Contact. The Performance Bond or Irrevocable Standby Letter of Credit shall remain in effect from the Effective Date until the end of the term of this Contract. Said Bond is to be submitted to Hawaiian Electric no later than thirty (30) Days following the Effective Date.

Performance Bond/Letter of Credit. A Performance Bond or an Irrevocable Standby Letter of Credit in the form reasonably acceptable to Hawaiian Electric shall be furnished by Seller and deposited with Hawaiian Electric in the amount of FIVE MILLION DOLLARS ($5,000,000.00)$ , guaranteeing Seller’s full compliance with and performance under this Contact. The Performance Bond or Irrevocable Standby Letter of Credit shall remain in effect from the Effective Date until the end of the term of this ContractOriginal Term. Said Bond is to be submitted to Hawaiian Electric no later than thirty (30) Days days following the Effective Date.

Performance Bond/Letter of Credit. A Performance Bond or an Irrevocable Standby Letter of Credit in the form reasonably acceptable to Hawaiian Electric shall be furnished by Seller and deposited with Hawaiian Electric in the amount of FIVE MILLION DOLLARS five million dollars ($5,000,000.00), guaranteeing Seller’s full compliance with and performance under this Contact. The Performance Bond or Irrevocable Standby Letter of Credit shall remain in effect from the Effective Date until the end of the term of this ContractOriginal Term. Said Bond Xxxx is to be submitted to Hawaiian Electric no later than thirty (30) Days following the Effective Date.

Performance Bond/Letter of Credit. A Performance Bond or an Irrevocable Standby Letter of Credit in the form reasonably acceptable to Hawaiian Electric shall be furnished by Seller and deposited with Hawaiian Electric in the amount of FIVE MILLION DOLLARS five million dollars ($5,000,000.00), guaranteeing Seller’s full compliance with and performance under this Contact. The Performance Bond or Irrevocable Standby Letter of Credit shall remain in effect from the Effective Date until the end of the term of this ContractOriginal Term. Said Bond is to be submitted to Hawaiian Electric no later than thirty (30) Days following the Effective Date.

Performance Bond/Letter of Credit. A Performance Bond or an Irrevocable Standby Letter of Credit in the form reasonably acceptable to Hawaiian Electric shall be furnished by Seller and deposited with Hawaiian Electric in the amount of FIVE MILLION DOLLARS dollars ($5,000,000.00$ ), guaranteeing Seller’s full compliance with and performance under this Contact. The Performance Bond or Irrevocable Standby Letter of Credit shall remain in effect from the Effective Date until the end of the term of this ContractOriginal Term. Said Bond is to be submitted to Hawaiian Electric no later than thirty (30) Days following the Effective Date.