The Surety Bond Clause Samples
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The Surety Bond. The Surety Bond is in full force and effect and is a legal, valid and binding obligation of the Surety, enforceable in accordance with its terms, except that enforceability thereof may be limited by bankruptcy, insolvency, moratorium, receivership and other similar laws relating to creditors’ rights generally and the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding therefor may be brought.
The Surety Bond. The Servicer and the Transferor agree, simultaneously with the execution and delivery of this Agreement, to cause the Surety Bond Issuer to issue the Surety Bond to the Trustee for the benefit of the Trust in accordance with the terms thereof.
The Surety Bond. 45 SECTION 14A.1 THE SURETY BOND . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 45 SECTION 14A.2 PREFERENCE EVENTS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 45 SECTION 14A.3 SURRENDER OF SURETY BOND. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 45 SECTION 14A.4 REPLACEMENT SURETY BOND . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 45 ARTICLE XV THE CERTIFICATES
The Surety Bond. The Issuer has obtained the Surety Bond for the benefit of the Agent on behalf of the Company and the Bank Investors. The Issuer acknowledges that the Agent is entitled, in accordance with the terms thereof, to demand funds thereunder for the benefit of the Company and the Bank Investors. The Agent shall have no liability to the Issuer, and the Issuer shall indemnify and hold the Agent harmless, in connection with any demands made by the Agent under the Surety Bond except to the extent that the Agent shall have acted with gross negligence in making any such demand.
The Surety Bond. The Servicer and the Depositor agree, simultaneously with the execution and delivery of this Agreement, to cause the Surety Bond Issuer to issue the Surety Bond to the Trustee for the benefit of the Trust in accordance with the terms thereof.