PROJECT GUARANTEE Sample Clauses

PROJECT GUARANTEE. A guarantee issued by the Contractor to the Department. See GUARANTEE.
Sample 1Sample 2Sample 3See All (25)
AutoNDA by SimpleDocs
PROJECT GUARANTEE. (For construction contracts in the Canal area). 1. The guarantee period to correct any defects that might exist shall be for one (1) additional year, after completion of the project, if it pertains to equipment and materials that were supplied, and to respond to redhibitory defects, such as labor, material, or defective equipment, or any other deficiency or defect on the object of the contract. The guarantee period to cover any defects in the construction or reconstruction of the project or real estate property shall be three (3) years. 2. The Contractor shall correct, within the terms of the guarantee, all defects or deficiencies discovered within the guarantee period. The Contracting Officer shall notify the Contractor, in writing, immediately after the discovery of the defect or deficiency. 3. The Contractor shall begin corrective work within thirty (30) calendar days after notification of the defect or deficiency by the Authority and shall proceed diligently with such work until its completion. Such corrective work shall include the re-delivery of equipment and/or materials and, in no case, shall the corrective work last more than three (3) months after the notification date. The Contracting Officer may, however, postpone the start of the corrective work until such time the defective materials or equipment can be removed from service without harm to the Authority but, under no circumstance, shall the corrective work be postponed for more than three (3) months from the date of discovery of the defects or deficiencies requiring correction. 4. Replacement parts and repairs shall be subject to the Contracting Officer’s approval. The Contractor shall bear the costs of all corrective work, which should include the disassembly, transportation, re-assembly, and re-testing required, as well as the repair or replacement of defective materials and/or equipment and any disassembly or re-assembly of adjacent materials and/or equipment, as long as the Authority, at its own cost, performs the disassembly or re-assembly of adjacent materials and/or equipment, not supplied by the Contractor, wherever necessary to provide access to the defective materials and/or equipment. 5. Should the Contractor not perform the corrective work in the manner and within the specified time, the Authority may have such work performed at the Contractor’s expense, and the Contractor shall acknowledge and pay for such costs when demanded of him and his sureties shall be responsible for such ...
Sample 1Sample 2Sample 3See All (4)
PROJECT GUARANTEE. A. Finished area shall be free from bumps or depressions, evenly graded to levels shown, and shall be guaranteed against defects of materials and workmanship.
Sample 1
PROJECT GUARANTEE. Performance security 40.1 At the same time when the Employer and the Contractor are signing this contract, the Contractor shall submit a performance bond to the Employer, which shall be issued by the guarantor (bank). Guarantee of payment 40.2 At the same time when the Employer and the Contractor are signing this contract, the Employer shall submit a guarantee of payment to the Contractor, which shall be issued by the guarantor (bank).
Sample 1
PROJECT GUARANTEE. The Contractor guarantees that the work and services to be performed under the Contract and all workmanship, material, and equipment performed, furnished, used or installed in the construction of same shall be free of from defects and flaws and shall be performed and furnished in strict accordance with the drawings, specifications, and other Contract Documents; that the strength of all parts of all manufactured equipment shall be adequate and as specified; and that the performance test requirements of the Contract shall be fulfilled. This guarantee shall be for a period of one (1) year from and after the date of completion and acceptance of the Work. If the City accepts part of the Work, the guarantee for that part of the Work shall be for a period of one (1) year from the date fixed for such acceptance. If at any time within said period of guarantee any part of the Work requires repairing, correction, or replacement, the City may notify the Contractor in writing to make the required repairs, corrections or replacements. If the Contractor neglects to commence making such repairs, corrections, or replacements to the satisfaction of the City within three (3) business days from the date of receipt of such notice, or having commenced, fails to prosecute such work with diligence, the City may employ other persons to make same, and all direct and indirect costs of making said repairs, corrections, or replacements, including compensation for additional professional services, including any and all costs associated with collecting such debt to the City, shall be paid by the Contractor. The Contractor guarantees to furnish adequate protection from damage for all work and to repair damages of any kind for which he or his workmen are responsible, including damage to his own work and to the work of other contractors, and the Contractor shall repair any damage or marring to any goods occasioned by transit. The Contractor guarantees that it will make good, replace, and renew at its own cost and expense any loss, damage or other casualty occurring during the carrying out of this contract, including any such loss, damage or other casualty which occurs prior to the final delivery and acceptance of the goods by the City, by reason of accident, fire, water, theft, act of God, or for any other reason whatsoever not caused by the City, its employees or agents.
Sample 1

Related to PROJECT GUARANTEE

  • Guarantee The Guarantor irrevocably and unconditionally agrees to pay in full to the Holders the Guarantee Payments (without duplication of amounts theretofore paid by the Issuer), as and when due, regardless of any defense, right of set-off or counterclaim that the Issuer may have or assert. The Guarantor's obligation to make a Guarantee Payment may be satisfied by direct payment of the required amounts by the Guarantor to the Holders or by causing the Issuer to pay such amounts to the Holders.

  • Performance Guarantee 9.4.1 The Concessionaire shall, for the performance of its obligations hereunder during the Concession Period, provide to the Authority no later than [90] days prior to expiry of the Performance Security, an irrevocable and unconditional guarantee from a Bank for a sum equivalent to Rs. ***** crore (Rupees ***** crore)7 in the form set forth in Schedule-FF (the “Performance Guarantee”). Until such time the Performance Guarantee is provided by the Concessionaire pursuant hereto and the same comes into effect, notwithstanding anything contained in clause 9.3 the Performance Security shall remain in force and effect, and upon such provision of the Performance Guarantee pursuant hereto, the Authority shall release the Performance Security to the Concessionaire. 9.4.2 Notwithstanding anything to the contrary contained in this Agreement, in the event Performance Guarantee is not provided by the Concessionaire within a period of [90] days prior to expiry of the Performance Security, the Authority may invoke and encash the Performance Security and appropriate the proceeds thereof as Damages, and thereupon all rights, privileges, claims and entitlements of the Concessionaire under or arising out of this Agreement shall be deemed to have been waived by, and to have ceased with the concurrence of the Concessionaire, and this Agreement shall be deemed to have been terminated by mutual agreement of the Parties.

  • Guaranty Each Guarantor hereby absolutely and unconditionally, jointly and severally guarantees, as primary obligor and as a guaranty of payment and performance and not merely as a guaranty of collection, prompt payment when due, whether at stated maturity, by required prepayment, upon acceleration, demand or otherwise, and at all times thereafter, of any and all Secured Obligations (for each Guarantor, subject to the proviso in this sentence, its “Guaranteed Obligations”); provided that (a) the Guaranteed Obligations of a Guarantor shall exclude any Excluded Swap Obligations with respect to such Guarantor and (b) the liability of each Guarantor individually with respect to this Guaranty shall be limited to an aggregate amount equal to the largest amount that would not render its obligations hereunder subject to avoidance under Section 548 of the Bankruptcy Code of the United States or any comparable provisions of any applicable state law. Without limiting the generality of the foregoing, the Guaranteed Obligations shall include any such indebtedness, obligations, and liabilities, or portion thereof, which may be or hereafter become unenforceable or compromised or shall be an allowed or disallowed claim under any proceeding or case commenced by or against any debtor under any Debtor Relief Laws. The Administrative Agent’s books and records showing the amount of the Obligations shall be admissible in evidence in any action or proceeding, and shall be binding upon each Guarantor, and conclusive for the purpose of establishing the amount of the Secured Obligations. This Guaranty shall not be affected by the genuineness, validity, regularity or enforceability of the Secured Obligations or any instrument or agreement evidencing any Secured Obligations, or by the existence, validity, enforceability, perfection, non-perfection or extent of any collateral therefor, or by any fact or circumstance relating to the Secured Obligations which might otherwise constitute a defense to the obligations of the Guarantors, or any of them, under this Guaranty, and each Guarantor hereby irrevocably waives any defenses it may now have or hereafter acquire in any way relating to any or all of the foregoing.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!