Performance Security Requirements Sample Clauses

Performance Security Requirements. 13.3.1 Contractor shall furnish to County within ten (10) days after Contractor’s execution of this Agreement, and in all events prior to the commencement of the Term of this Agreement, an irrevocable Letter of Credit (LOC) for the County of Los Angeles in the amount of $200,000 (United States currency), and shall be drawn on an institution licensed to transact business in the State of California. Such LOC shall be in the form and substance satisfactory to County’s Risk Manager, or County’s Treasurer and Tax Collector, as applicable. Such LOC shall be maintained by County in full force and effect until released by County’s Risk Manager upon the County Project Director’s written determination that Contractor shall have fully performed all of its obligations under this Agreement as evidenced by Contractor’s receipt of Acceptance from County as defined in the Agreement, Paragraph 5.7. Any modification, extension or termination of this Agreement shall in no way release Contractor or any of its sureties from any of their obligations under such LOC. Such LOC shall contain a waiver of notice of any Change Notices, Change Orders and Amendments to this Agreement.
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Performance Security Requirements. Such surety may be provided by one of the following forms and conditioned upon faithful performance and satisfactory completion of services by Contractor.
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Performance Security Requirements. Prior to initiation of this Agreement, the ARTIST agrees that the final payment will be in the amount of $ and will be held until County’s written Acceptance of the Artwork in lieu of providing the COUNTY a surety bond, in a form substantially similar to Attachment E (to this Agreement), which guarantees performance of the contractual obligation to restore the Premises in the event of incomplete performance, and to repair defective work as required in Section 7.19 herein, in the amount of $ . The parties agree that the $ amount shall be subject to reduction, and the difference may be paid to ARTIST before the COUNTY'S Acceptance, upon COUNTY'S determination, in the exercise of its sole discretion, that the work performed is not defective, and the reasonable cost of restoring the Premises as contemplated herein is less than the $ withheld. Should the ARTIST choose to obtain a surety bond, the bond must be duly executed by a solvent surety company which is authorized by the State of California and satisfactory to the COUNTY. The bond shall be in an amount of not less than 100% of the contract price, and shall be signed by both the ARTIST and the Surety. This bond shall be maintained by the ARTIST in full force and effect during this Agreement and for a period of one year from the date of the COUNTY’s Acceptance. If the amount set forth above is less than the amount the COUNTY will retain prior to Acceptance, then the COUNTY may waive the requirement for the surety bond. Should the surety become insufficient, the ARTIST xxxx xxxxx said bond with good and sufficient surety within ten (10) days after receiving notice from the COUNTY that the surety is insufficient. Should the surety be deemed unsatisfactory at any time by the COUNTY, notice will be given to the ARTIST to that effect, and the ARTIST will forthwith substitute a new surety satisfactory to the COUNTY. No further payment shall be deemed due or will be made under this Agreement until bond and new surety is accepted by the COUNTY.
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Performance Security Requirements. (a) Each Performance Security:
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Performance Security Requirements. 6.1 Project Co shall obtain or cause to be obtained and deliver or cause to be delivered to the City, original executed and sealed Bonds, as stipulated in Section 6.4
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Performance Security Requirements. The Performance Security Requirements may be provided by one of the following and conditioned upon faithful performance and satisfactory completion of services by the Contractor.
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Related to Performance Security Requirements

  • Performance Security If our Tender is accepted, we commit to obtain a performance security in accordance with the Tendering document;

  • Security Requirements 11.1 The Supplier shall comply, and shall procure the compliance of the Suppliers Personnel, with the Security Policy and the Security Plan and the Supplier shall ensure that the Security Plan produced by the Supplier fully complies with the Security Policy.

  • Performance Requirements 1. Neither Party may impose or enforce any of the following requirements, or enforce any commitment or undertaking, in connection with the establishment, acquisition, expansion, management, conduct or operation of an investment of an investor of a Party or of a non-Party in its territory:

  • Data Security Requirements A. Data Transport. When transporting Confidential Information electronically, including via email, the data will be protected by:

  • Additional security requirements The following provisions apply in respect of any Additional Security provided:

  • General Eligibility Requirements 3.1.1. All residents of Malaysia aged 18 years and above are eligible to participate in the Promotion.

  • Accessibility Requirements Under Tex. Gov’t Code Chapter 2054, Subchapter M, and implementing rules of the Texas Department of Information Resources, the System Agency must procure Products and services that comply with the Accessibility Standards when those Products are available in the commercial marketplace or when those Products are developed in response to a procurement solicitation. Accordingly, Grantee must provide electronic and information resources and associated Product documentation and technical support that comply with the Accessibility Standards.

  • Information Security Requirements In cases where the State is not permitted to manage/modify the automation equipment (server/computer/other) that controls testing or monitoring devices, the Contractor agrees to update and provide patches for the automation equipment and any installed operating systems or applications on a quarterly basis (at minimum). The Contractor will submit a report to the State of updates installed within 30 days of the installation as well as a Plan of Actions and Milestones (POA&M) to remediate any vulnerabilities ranging from Critical to Low. The contractor will provide an upgrade path or compensatory security controls for any operating systems and applications listed as beyond “end-of-life” or EOL, within 90 days of the EOL and complete the EOL system’s upgrade within 90 days of the approved plan.

  • Eligibility Requirements The Trustee hereunder shall at all times (i) be a corporation or association having its principal office in a state and city acceptable to the Seller, organized and doing business under the laws of such state or the United States of America, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus of at least $50,000,000, or shall be a member of a bank holding system, the aggregate combined capital and surplus of which is at least $50,000,000, provided that its separate capital and surplus shall at all times be at least the amount specified in Section 310(a)(2) of the Trust Indenture Act of 1939, (ii) be subject to supervision or examination by federal or state authority and (iii) have a credit rating or be otherwise acceptable to the Rating Agencies such that neither of the Rating Agencies would reduce their respective then current ratings of the Certificates (or have provided such security from time to time as is sufficient to avoid such reduction) as evidenced in writing by each Rating Agency. If such corporation or association publishes reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purposes of this Section the combined capital and surplus of such corporation or association shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. In case at any time the Trustee shall cease to be eligible in accordance with the provisions of this Section, the Trustee shall resign immediately in the manner and with the effect specified in Section 8.08.

  • Performance Reporting The State of California is required to submit the following financial reports to FEMA:

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