Temporary Surety for Bond Interest Sample Clauses

Temporary Surety for Bond Interest. If there will be any gap between the approval of the City bond issuance and the submission of the surety bond for performance and payment of the Project, as provided in subparagraph (g) below, the Developer shall, no later than five (5) days prior to the scheduled approval of the bond issuance, provide proof to the City of the maintenance of a surety bond covering the interest on the bonds over the life of the bond obligation in the event the Developer is unable to obtain financing acceptable to the Developer or the Project does not otherwise proceed forward as the parties have planned. The Temporary surety may be released or used to help satisfy the performance and payment bond obligation required in subparagraph (g) below.
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Related to Temporary Surety for Bond Interest

  • Temporary Bonds Pending the preparation of any Definitive Bonds, the Issuer may execute and upon its written direction, the Indenture Trustee may authenticate and make available for delivery, temporary Bonds that are printed, lithographed, typewritten, photocopied or otherwise produced, in any denomination, substantially of the tenor of the Definitive Bonds in lieu of which they are issued and with such appropriate insertions, omissions, substitutions and other variations as the officers executing such Bonds may determine, as evidenced by their execution of such Bonds. If temporary Bonds are issued, the Issuer will cause Definitive Bonds to be prepared without unreasonable delay. After the preparation of the Definitive Bonds, the temporary Bonds shall be exchangeable for Definitive Bonds upon surrender of the temporary Bonds at the office of the Indenture Trustee located at 123 Washington Street, New York, Nex Xxxx 00000, xxxxxxx xxxxxx xx xxx Xxxxxx. Xxxn surrender for cancellation of any one or more temporary Bonds, the Issuer shall execute and the Indenture Trustee shall authenticate and make available for delivery, in exchange therefor, Definitive Bonds of authorized denominations and of like tenor, class and aggregate principal amount. Until so exchanged, such temporary Bonds shall in all respects be entitled to the same benefits under this Indenture as Definitive Bonds.

  • Temporary Roads As necessary to attain stabilization of roadbed and fill slopes of Temporary Roads, Purchaser shall employ such measures as out- sloping, drainage dips, and water-spreading ditches. After a Temporary Road has served Purchaser’s pur- pose, Purchaser shall give notice to Forest Service and shall remove bridges and culverts, eliminate ditches, out- slope roadbed, remove ruts and berms, effectively block the road to normal vehicular traffic where feasible under existing terrain conditions, and build cross ditches and water bars, as staked or otherwise marked on the ground by Forest Service. When bridges and culverts are re- moved, associated fills shall also be removed to the ex- tent necessary to permit normal maximum flow of water.

  • Temporary Notes Pending the preparation of Definitive Notes, the Issuer may execute, and upon receipt of an Issuer Order the Indenture Trustee shall authenticate and deliver, temporary Notes that are printed, lithographed, typewritten, mimeographed or otherwise produced, of the tenor of the Definitive Notes in lieu of which they are issued and with such variations not inconsistent with the terms of this Indenture as the officers executing such Notes may determine, as evidenced by their execution of such Notes. If temporary Notes are issued, the Issuer will cause Definitive Notes to be prepared without unreasonable delay. After the preparation of Definitive Notes, the temporary Notes shall be exchangeable for Definitive Notes upon surrender of the temporary Notes at the office or agency of the Issuer to be maintained as provided in Section 3.02, without charge to the Holder. Upon surrender for cancellation of any one or more temporary Notes, the Issuer shall execute, and the Indenture Trustee shall authenticate and deliver in exchange therefor, a like principal amount of Definitive Notes of authorized denominations. Until so exchanged, the temporary Notes shall in all respects be entitled to the same benefits under this Indenture as Definitive Notes.

  • Temporary Upgrade An employee in a temporary upgrade status shall have no right to grieve or arbitrate release from such temporary upgrade status.

  • Temporary Nurse Any nurse who is employed for a specified period of time not to exceed three (3) months, or any nurse who is employed to fill positions because of any combination of leaves of absence, vacations, holidays, and sick leave for a period of time not to exceed six (6) months.

  • Performance Bond and Payment Bond The Contractor shall furnish both a performance bond and a payment bond in the exact form set forth in Section 7, (Forms) of these General Conditions.

  • Temporary Vacancy A vacancy in a position caused by the regularly assigned occupant being absent from duty (including on vacation but excluding pre-retirement vacation) or temporarily assigned to other duties.

  • Payment Bond PURCHASER shall furnish an acceptable payment bond or blanket payment bond to STATE as guarantee for payment for timber. Payment bonds may be in the form of surety bonds, cash, cashier's or certified check, money order, assignment of surety, irrevocable letters of credit, or other securities as determined acceptable by the State Forester. Surety bonds must be written by a surety company authorized to do business in the State of Oregon, on a form provided by STATE. The bonds shall be in an amount at least equal to the value of timber estimated to be removed during a one-month plus 15-day billing period as determined by STATE. In any event, the amount shall not be less than one installment payment as specified in Section 42. Under a payment bond, PURCHASER may remove timber for a 30-day period, after which time, payment becomes due and owing. PURCHASER shall make cash payment within 15 days following the end of the monthly period. Upon payment for timber removed in the monthly period, the payment guarantee may be applied as a guarantee for a subsequent period. A blanket payment bond shall be in an amount at least equal to the value of the timber estimated to be removed from all contracts covered by the blanket payment bond during a one-month plus 15-day billing period as determined by STATE. PURCHASER shall obtain and furnish STATE with a written consent of surety on forms provided by STATE for coverage of any contracts to which the blanket payment bond may apply. In no event shall PURCHASER remove timber with a value greater than the amount of the payment guarantee.

  • Temporary Services The steamfitters shall not do any other work and shall not be permitted to work more than one shift in a twenty- four hour day. When steamfitters are present during the regular working day, no temporary services steamfitter will be required. Effective Period: 7/1/2015 - 6/30/2016 Wage Rate per Hour: $41.80 Supplemental Benefit Rate per Hour: $42.76 Overtime Double time the regular rate after an 8 hour day. Double time the regular time rate for Saturday. Double time the regular rate for Sunday.

  • MORTGAGE BOND If the sale is subject to the Purchaser obtaining a mortgage bond as per clause 12 of the terms and conditions: Mortgage bond amount R Institution If not completed, sale is unconditional and clause 12 of the terms and conditions does not apply. Purchaser specifically acknowledges this clause

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