Surety Bonds a Condition Precedent to Commencing the Work Sample Clauses

Surety Bonds a Condition Precedent to Commencing the Work. Within seven days after receipt of the Notice of Award (if issued by the District) or prior to the Required Commencement Date, whichever is sooner, the Contractor must provide to the District: (i) a material and labor payment bond to ensure satisfaction of any claims of materials suppliers and of mechanics and laborers employed in connection with the Work (“Payment Bond”); and (ii) a bond to ensure faithful (including, without limitation, timely) performance by the Contractor of its obligations under the Contract Documents (“Performance Bond”). The Payment Bond and the Performance Bond (each a “Surety Bond”) must be in the forms provided by the District as one of the Required Contract Forms or, in the District’s sole discretion, may be in such forms as are approved by legal counsel for the District in advance of the Contractor commencing the Work. Neither of the Surety Bonds shall have a stated expiration date, and each shall remain in effect at all times that Contractor has any obligation under the Contract.
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Related to Surety Bonds a Condition Precedent to Commencing the Work

  • Condition Precedent to Requesting Payment Grantee will disburse program income, rebates, refunds, contract settlements, audit recoveries, and interest earned on such funds before requesting cash payments including any advance payments from the System Agency.

  • PERSONAL SATISFACTION AS A CONDITION PRECEDENT The obligations of County as provided in this Agreement are expressly conditioned upon Contractor’s compliance with the provisions of this Agreement to the personal satisfaction of the County. County shall determine compliance in good faith as a reasonable person would under the circumstances.

  • CONDITION PRECEDENT The obligations of the parties to this Agreement are subject to the Receiver and the Corporation having received at or before Bank Closing evidence reasonably satisfactory to each of any necessary approval, waiver, or other action by any governmental authority, the board of directors of the Assuming Institution, or other third party, with respect to this Agreement and the transactions contemplated hereby, the closing of the Failed Bank and the appointment of the Receiver, the chartering of the Assuming Institution, and any agreements, documents, matters or proceedings contemplated hereby or thereby.

  • Condition Precedent: Requirement for Parent Company Guarantee It shall be a condition of this Framework Agreement that, if required by the Authority, the Contractor shall deliver a validly executed parent company guarantee in the form set out in Schedule 6 to this Framework Agreement. The rights and obligations of the Parties shall have no force or effect unless the parent company guarantee has been properly executed and delivered to the Authority. The parties acknowledge that if this condition has not been fulfilled any performance of this Framework Agreement by the Contractor shall be at the risk of the Contractor and the Authority shall not be liable for and the Contractor irrevocably waives any entitlement to payment of any fees, expenses or other payments in relation to such performance. Where the Contractor has failed to fulfil this condition within 14 days of the date of last subscription of the Framework Agreement the Authority shall have the right to terminate the Framework Agreement by notice in writing to the Contractor.

  • Conditions Precedent to Effectiveness This Agreement shall become effective on and as of the first date (the “Effective Date”) on which the following conditions precedent have been satisfied:

  • Precedent No complaint informally resolved, or grievance resolved at either Step 1 or 2, shall constitute a precedent for any purpose unless agreed to in writing by the President of the University and the UFF acting through its President or representative.

  • Waiver of Conditions Precedent The conditions specified in this clause 9 are inserted solely for the benefit of the Bank and may be waived by the Bank in whole or in part and with or without conditions.

  • Conditions Precedent to Disbursement Agency’s obligation to disburse Grant Funds to Grantee under this Grant is subject to satisfaction of each of the following conditions precedent:

  • BASIC CONDITIONS The State shall have no obligation to disburse money for the Project under this Grant Agreement until the Grantee has satisfied the following conditions:

  • Further Conditions Precedent The Lenders will only be obliged to comply with Clause 5.4 (Lenders’ participation) if on the date of the Utilisation Request and on the proposed Utilisation Date:

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