Variation of Bond Sample Clauses

Variation of Bond. 7.1 The parties acknowledge and agree that, pursuant to the Concession, the Minister may require a variation of the Bond Sum. 7.2 The Surety agrees that it is to continue to be surety and bound to the Minister for the amount of the Bond Sum as varied. 7.3 The parties acknowledge and agree pursuant to the Concession that if the Minister has had cause to make a claim under this Bond for payment of part or all of the Bond Sum or if, for any other reason, the Bond Sum appears likely to be insufficient to meet any claim under this Bond in whole or in part either during the term of the Concession or after its expiry as specified in clause 6.2(b) the Minister may require a variation of the Bond Sum.

Related to Variation of Bond

  • VARIATION OF AGREEMENT 6.1 Subject to clauses 3.2, 6.2 and 6.3, this Agreement may be varied at any time if agreed between the Administrator and the Sector Association.

  • VARIATION OF TERMS All terms and any variations thereof shall be deemed to refer to masculine, feminine, or neuter, singular or plural, as the identity of the Person or Persons may require.

  • Variation of the Agreement The Agreement may be amended at any time by agreement in writing between the Organisation and the Ministry.

  • Variation of the contract The parties undertake not to vary or modify the Clauses. This does not preclude the parties from adding clauses on business related issues where required as long as they do not contradict the Clause. Clause 11

  • Variation of these clauses The parties may not modify these clauses except to update any information in Annex B, in which case they will inform the authority where required. This does not preclude the parties from adding additional commercial clauses where required.

  • Construction of Agreement The parties mutually acknowledge that they and their attorneys have participated in the preparation and negotiation of this Agreement. In cases of uncertainty this Agreement shall be construed without regard to which of the parties caused the uncertainty to exist.

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