Provision of Bonds. DB Contractor shall provide payment, performance, retainage and warranty bonds to TxDOT securing DB Contractor’s obligations hereunder, and shall maintain such bonds in full force and effect as described below.
8.1.1 On or before the issuance by TxDOT of NTP1, DB Contractor shall deliver to TxDOT a performance bond in the initial amount of $3,000,000 (the “NTP1 Performance Bond Amount”) and in the form attached hereto as Exhibit 9.
8.1.2 On or before the issuance by TxDOT of NTP1, DB Contractor shall deliver to TxDOT a payment bond in the initial amount of $3,000,000 (the “NTP1 Payment Bond Amount”) and in the form attached hereto as Exhibit 10.
8.1.3 Upon the issuance by TxDOT of NTP2, the amount of the Performance Bond shall increase to one hundred percent (100%) of the Price allocable to Construction Work (“NTP2 Performance Bond Amount”), in accordance with the Performance Bond rider included in Exhibit 9 effecting such increase. After Final Acceptance, TxDOT shall provide a written release of the NTP2 Performance Bond, provided that (and upon such date after Final Acceptance that) all of the following conditions have been met: (a) DB Contractor is not in default under this Agreement, (b) no event has occurred that with the giving of notice or passage of time would constitute a default by DB Contractor hereunder or under the Contract Documents; and (c) TxDOT has received the Warranty Bond in accordance with Section 8.1.7.
8.1.4 Upon the issuance by TxDOT of NTP2, the amount of the Payment Bond shall increase to one hundred percent (100%) of the Price allocable to Construction Work (“NTP2 Payment Bond Amount”) in accordance with the Payment Bond rider included in Exhibit 10 effecting such increase. TxDOT will release the Payment Bond upon: (a) receipt of (i) evidence satisfactory to TxDOT that all Persons eligible to file a claim against the Payment Bond have been fully paid and (ii) unconditional releases of Liens and stop notices from all Subcontractors who filed a preliminary notice of a claim against the Payment Bond, or (b) expiration of the statutory period for Subcontractors to file a claim against the Payment Bond if no claims have been filed.
8.1.5 On or before the issuance by TxDOT of NTP2, DB Contractor shall deliver to TxDOT a Retainage Bond in the form attached hereto as Exhibit 11. The Retainage Bond shall be in the amount of 4% of the Price, and is to be used as a guaranty for the protection of any claimants and TxDOT for overpayments, Liq...
Provision of Bonds. DB Contractor shall provide payment, performance, retainage and warranty bonds to TxDOT securing DB Contractor’s obligations hereunder, and shall maintain such bonds in full force and effect as described below.
Provision of Bonds. Developer shall provide payment, performance, retainage and warranty bonds to TxDOT securing Developer’s obligations hereunder, and shall maintain such bonds in full force and effect as described below.
Provision of Bonds. DB Contractor shall provide payment, performance, retainage and warranty bonds to TxDOT securing DB Contractor’s obligations hereunder, and shall maintain such bonds in full force and effect as described below.
8.1.1 On or before the issuance by TxDOT of NTP1, DB Contractor shall deliver
8.1.2 On or before the issuance by TxDOT of NTP1, DB Contractor shall deliver
8.1.3 Upon the issuance by TxDOT of NTP2, the amount of the Performance
8.1.4 Upon the issuance by TxDOT of NTP2, the amount of the Payment Bond
8.1.5 On or before the issuance by TxDOT of NTP2, DB Contractor shall deliver
8.1.6 DB Contractor shall not commence or permit or suffer commencement of
Provision of Bonds. (a) (O&M Bond): Each Franchisee must provide the State with one or more bonds as required under clause 11.7.
(b) (Handover Bond): Each Franchisee may provide the State with a Handover Bond so as to fulfil its obligations under clause 35.1(d)(ii).
Provision of Bonds. DB Contractor shall provide payment, performance, retainage and warranty bonds to TxDOT securing DB Contractor’s obligations hereunder, and shall maintain such bonds in full force and effect as described below.
8.1.1 On or before the issuance by TxDOT of NTP1, DB Contractor shall deliver to TxDOT a performance bond in the initial amount of $25,000,000 (the “NTP1 Performance Bond Amount”) and in the form attached hereto as Exhibit 9.
8.1.2 On or before the issuance by TxDOT of NTP1, DB Contractor shall deliver to TxDOT a payment bond in the initial amount of $25,000,000 (the “NTP1 Payment Bond Amount”) and in the form attached hereto as Exhibit 10.
8.1.3 Upon the issuance by TxDOT of NTP2, the amount of the Performance
8.1.4 Upon the issuance by TxDOT of NTP2, the amount of the Payment Bond
8.1.5 On or before the issuance by TxDOT of NTP2, DB Contractor shall deliver to TxDOT a Retainage Bond in the form attached hereto as Exhibit 11. The Retainage Bond shall be in the amount of 4% of the Price, and is to be used as a guaranty for the protection of any claimants and TxDOT for overpayments, Liquidated Damages, Lane Rental Fees, and other deductions or damages owed by the DB Contractor in connection with this Agreement.
8.1.6 DB Contractor shall not commence or permit or suffer commencement of any Design Work or Construction Work until DB Contractor obtains from its Sureties and provides to TxDOT written confirmation that the Performance Bond and Payment Bond amounts have been increased to equal the NTP2 Performance Bond Amount and NTP2 Payment Bond Amount, respectively, in accordance with this Section 8.
Provision of Bonds. DB Contractor shall provide payment, performance, retainage and warranty bonds to TxDOT securing DB Contractor’s obligations hereunder, and shall maintain such bonds in full force and effect as described below.
8.1.1 On or before the issuance by TxDOT of NTP1, DB Contractor shall deliver to TxDOT a performance bond in the initial amount of $35,000,000 (the “NTP1 Performance Bond Amount”) and in the form attached hereto as Exhibit 9.
8.1.2 On or before the issuance by TxDOT of NTP1, DB Contractor shall deliver to TxDOT a payment bond in the initial amount of $35,000,000 (the “NTP1 Payment Bond Amount”) and in the form attached hereto as Exhibit 10.
8.1.3 Upon the issuance by TxDOT of NTP2, the amount of the Performance Bond shall increase to [ ] [insert one hundred percent (100%) of the Price allocable to Construction Work (equal to the sum of Line 44 of Form M-2.1 plus the DB Price for LE Base Scope (“A”) from Form M-
Provision of Bonds. DBT shall provide to KYTC Performance and Payment Bonds in accordance with KYTC Standard Specifications 103.05.
Provision of Bonds. DB Contractor shall provide payment, performance and warranty bonds to TxDOT securing DB Contractor’s obligations hereunder, and shall maintain such bonds in full force and effect as described below.
8.1.1 On or before the issuance by TxDOT of NTP1, DB Contractor shall deliver
8.1.2 On or before the issuance by TxDOT of NTP1, DB Contractor shall deliver
8.1.3 Upon the issuance by TxDOT of Segment 1 NTP2 or Limited Segment 1
8.1.4 Upon the issuance by TxDOT of Segment 1 NTP2 or Limited Segment 1
Provision of Bonds. DB Contractor shall provide payment, performance and warranty bonds to TxDOT securing DB Contractor’s obligations hereunder, and shall maintain such bonds in full force and effect as described below.
8.1.1 On or before the issuance by TxDOT of NTP1, DB Contractor shall deliver
8.1.2 On or before the issuance by TxDOT of NTP1, DB Contractor shall deliver
8.1.3 Upon the issuance by TxDOT of Segment 1 NTP2, the amount of the
(a) DB Contractor is not in default under this Agreement, (b) no event has occurred that with the giving of notice or passage of time would constitute a default by DB Contractor hereunder or under the Contract Documents; and (c) TxDOT has received the Warranty Bond in accordance with Section 8.1.7.
8.1.4 Upon the issuance by TxDOT of Segment 1 NTP2, the amount of the
8.1.5 DB Contractor shall not commence or permit or suffer commencement of
8.1.6 After (i) Final Acceptance of Segment 1 and (ii) Final Acceptance of
8.1.7 Each bond required hereunder shall be issued by a Surety authorized to do
