Common use of Xxxx Requirement Clause in Contracts

Xxxx Requirement. Unless otherwise provided in the applicable Order, Contractor shall furnish when requested by Owner or Owner’s Representative a faithful performance bond in an amount equal to 100% of the full amount of the Contract as a guarantee on behalf of Contractor that the terms of the Contract shall be complied with in every particular, and a Contractor's payment bond in an amount equal to 100% of the full amount of the Contract as security for the payment of all persons performing labor or for payment for all materials and equipment used in performance of the Work. Contractor shall obtain the performance and payment bonds from sureties acceptable to Owner or Owner’s Representative and on forms satisfactory and acceptable to Owner.

Xxxx Requirement. Unless otherwise provided in the an applicable Order, Contractor shall furnish when requested by Owner or Owner’s 's Representative a faithful performance bond in an amount equal to 100% of the full amount of the Contract as a guarantee on behalf of Contractor that the terms of the Contract shall be complied with in every particular, and a Contractor's payment bond in an amount equal to 100% of the full amount of the Contract as security for the payment of all persons performing labor or for payment for all materials and equipment used in performance of the Work. Contractor shall obtain the performance and payment bonds from sureties acceptable to Owner or Owner’s 's Representative and on the forms satisfactory and acceptable to Owner.