Security for Performance of the Work Sample Clauses

Security for Performance of the Work. CONTRACTOR shall, not later than the date hereof, provide OWNER with a Performance Bond for the full amount of the Contract Price, which Performance Bond shall name OWNER and any designated Financing Party as independent beneficiaries. The Performance Bond shall secure CONTRACTOR’s performance of its obligations pursuant to this Agreement. If the Contract Price is increased pursuant to Change Orders executed by the Parties on or after the Commencement Date, then CONTRACTOR, within ten (10) Business Days after written request by OWNER, shall increase the amount of the Performance Bond or provide a supplemental Performance Bond so that the aggregate amount of such bond or bonds equals or exceeds the amount of the Contract Price, as adjusted. Such adjustments in contract price shall include additional cost for CONTRACTOR’s Performance Bond resulting from the change order.
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Security for Performance of the Work. CONTRACTOR shall, not later than the date hereof, provide OWNER with a Payment and Performance Bond for the full amount of the Contract Price, which Payment and Performance Bond shall name OWNER and any designated Financing Party as independent beneficiaries. The Payment and Performance Bond shall secure CONTRACTOR’s performance of its obligations pursuant to this Agreement. If the Contract Price is increased pursuant to Change Orders executed by the Parties on or after the Commencement Date, then CONTRACTOR, within ten (10) Business Days after written request by OWNER, shall increase the amount of the Payment and Performance Bond or provide a supplemental Payment and Performance Bond so that the aggregate amount of such bond or bonds equals or exceeds the amount of the Contract Price, as adjusted. There shall be no additional cost to OWNER for CONTRACTOR’s provision of any Payment and Performance Bond, or any increase in the amount thereof.
Sample 1
Security for Performance of the Work. All subcontracts and purchase orders entered into by Contractor relating to Contractor’s performance obligations hereunder shall be assignable to Owner and to any successor contractor in the event of Contractor’s removal from the Project, without recourse against Contractor for payments made by Contractor prior to the date of assignment and for actions of Owner, its successors or Owner’s contractors; provided that Contractor shall continue to be liable to release any applicable retainage being held by Contractor with respect to any assigned subcontract or purchase order. Owner or assignee of Owner will not be liable for Contractor's obligations under any subcontract or purchase order unless and until (and then only to the extent that) Owner or such assignee of Owner has assumed performance of such obligations following (and as a consequence of) Owner's or such assignee’s exercise of Owner’s rights and remedies hereunder. In addition, except as otherwise expressly agreed by Owner in writing, Contractor shall include in all subcontracts and purchase orders with Subcontractors and Suppliers contract provisions enabling the assignability and assumption of prime contracts to and by Owner as required in this Agreement.
Sample 1

Related to Security for Performance of the Work

  • Time for Performance 1.1. The term of this SOW Agreement shall begin on and end on (the “Initial Term”). The Initial Term may be extended as the parties may agree. The State may terminate this SOW for convenience upon thirty days prior written notice to the Contractor. If the Master Agreement should expire or otherwise terminate prior to the end of the term of this SOW Agreement, this SOW Agreement shall continue to the end of its existing term, unless or until terminated in accordance with the terms of this SOW Agreement, and the Parties acknowledge and agree that the terms of the Master Agreement shall survive and apply to this SOW Agreement.

  • Performance of the Company The Company shall have performed, satisfied and complied in all material respects with all covenants, agreements and conditions required by this Agreement and the Registration Rights Agreement to be performed, satisfied or complied with by the Company at or prior to the Commencement. The Company shall deliver to the Investor on the Commencement Date the compliance certificate substantially in the form attached hereto as Exhibit C (the “Compliance Certificate”).

  • Continuity of Service and Performance Unless otherwise agreed in writing, the Parties shall continue to provide service and honor all other commitments under this Agreement during the course of a Dispute with respect to all matters not subject to such Dispute.

  • Performance of Services The Contractor is responsible for fully meeting all obligations set forth in the Contract and for providing Product in accordance with the Contract or any Authorized User Agreement.

  • Performance of Work The Work shall be constructed in a good and workmanlike manner substantially in accordance with the Construction Plans. The Work shall be subject, at the option of Landlord, to the inspection of Landlord, Landlord's Architect and Landlord's General Contractor from time to time, during the period in which the Work is being performed, provided that such inspection does not unreasonably interfere with the completion of the Work. If such inspections reveal that any of the Work is not being constructed substantially in conformance with the provisions of this Agreement or the Final Plans, Tenant at its expense shall correct same forthwith. Only new, first class materials shall be used in the performance of the Work. At all times during the construction of the Work, it shall be Tenant's responsibility to cause each of Tenant's contractors and subcontractors to maintain protection of the Premises in such a manner as to prevent any damage to the Work, or to adjacent property and improvements by reason of the performance of the Work. Tenant's contractor and subcontractors shall properly secure the Premises, including, to the extent required, the furnishing of temporary guard rails and barricades. Landlord for good cause shall have the right to require Tenant to terminate any construction work at any time being performed by or on behalf of Tenant in the Premises, and to require that any contractor or subcontractor, or any employee of same, leave the Building. Upon written notification, setting forth in reasonable detail such good cause, from Landlord to Tenant to cease any work, Tenant shall forthwith remove from the Premises all agents, employees and contractors of Tenant performing such work until such time as Landlord shall have given its written consent for the resumption of such construction work (such consent not to be unreasonably withheld or delayed), and Tenant shall have no claim for damages of any nature whatsoever against Tenant in connection therewith.

  • PAYMENT AND PERFORMANCE OF LIABILITIES The Borrowers shall pay each payment Liability when due (or when demanded, if payable on demand) and shall promptly, punctually, and faithfully perform each other Liability.

  • Performance of Agreement Purchaser shall have performed in all material respects all obligations and agreements and complied in all material respects with all covenants and conditions contained in this Agreement to be performed or complied with by it at or prior to the Closing Date.

  • Performance of Agreements Buyer shall have performed in all material respects all of its covenants, agreements and obligations required by this Agreement and each of the other Documents to be performed or complied with by it prior to or upon the Closing Date.

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