Statutory and Performance Bonds Sample Clauses

Statutory and Performance Bonds. The Design/Builder shall obtain, and shall furnish and deliver to the Owner, the Statutory and Performance Bonds prior to, and as a condition precedent to, commencement of the Work on the Site. The Statutory and Performance Bonds shall be furnished on behalf of the Design/Builder, shall name the Owner as obligee, and shall be in the penal sum equal to One Hundred per cent of the construction cost. The Statutory and Performance Bonds shall be in the forms set forth as Exhibit M hereto, and shall be issued by the Surety. All premiums for the Statutory and Performance Bonds shall be a Cost of the Work.
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Related to Statutory and Performance Bonds

  • Payment and Performance Bond Prior to the execution of this Contract, City may require Contractor to post a payment and performance bond (Bond). The Bond shall guarantee Contractor’s faithful performance of this Contract and assure payment to contractors, subcontractors, and to persons furnishing goods and/or services under this Contract.

  • DELIVERY AND PERFORMANCE All work performed under contracts or task orders will be at the highest quality applicable and delivered according to Statement of Objectives (SOO), Statement of Works (SOW), or Performance Work Statements (PWS). The Contractor must deliver and perform according to the requirements of the contract or task order, and may be denied further work for substandard performance. The Government may include deliveries or performance requirements, such as (1) optional clauses, (2) agency clauses, or (3) specific clauses, in a contract or task order.

  • Excused Performance 6.1 Notwithstanding the occurrence of a Force Majeure Event, in which case Clause 17 will govern, BT will not be liable for any failure or delay to perform any of its obligations under this Agreement (including any of its obligations to meet any Service Levels) to the extent that BT’s failure or delay in performing arises as a result of:

  • Continued Performance The Contractor and Contractor Parties shall continue to Perform their obligations under the Contract while any dispute concerning the Contract is being resolved.

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