Construction Bond definition

Construction Bond means a bond posted with the City to ensure proper and complete Construction, replacement and/or repair of a Facility and/or the effected Rights-of-Way pursuant to a Permit.

Construction Bond means a bond posted to ensure proper and complete Construction and/or repair of a Facility and the affected Rights of Way pursuant to a Permit.

Construction Bond means any Performance Bond provided by the D&C Subcontractor in favour of Project Co. Contamination means a condition of land, air, soil or water including groundwater resulting from past or present Pollution and which shares any of the characteristics of Pollution. Contamination Modification Event means:

Examples of Construction Bond in a sentence

• Certain resources set aside for repayment of debt are classified as restricted assets on the Statement of Net Position because their use is limited by applicable debt statutes, e.g. Qualified School Construction Bond sinking funds.

• These remedies are a lien against public funds set forth in Section 23(c) of the Mechanics Lien Act, 770 ILCS 60/23(c), and a recovery on the Contractor’s payment bond according to the Public Construction Bond Act, 30 ILCS 550.

• Said bonds shall meet the requirements of the Illinois Public Construction Bond Act, 30 ILCS 550/0.01 et seq.

• The Bid security of the Successful Bidder will be retained until such Bidder has executed the Contract Documents, furnished the required contract security (Public Construction Bond) and met the other conditions of the Notice of Award, whereupon the Bid Security will be returned.

• The Bid security of the Successful Proposer will be retained until such Proposer has executed the Contract Documents, furnished the required contract security (Public Construction Bond) and met the other conditions of the Notice of Award, whereupon the Bid Security will be returned.

More Definitions of Construction Bond

Construction Bond as defined in Section 4.08.

Construction Bond. On or before the Effective Date, the Design/Build Contractor shall execute, deliver to, and file with the Concessionaire the Construction Bond, with RTD identified as dual obligee, in accordance with the terms of the Agreement. The Construction Bond shall be duly executed by a Qualifying Institution, conditioned upon the faithful performance of the Design/Build Contract, and shall provide that if the Design/Build Contractor or any Design/Build Subcontractor fails to duly pay for any labor, materials, team hire, sustenance, provisions, provender, or other supplies used or consumed by the Design/Build Contractor or such Design/Build Subcontractor in performance of the Work, or fails to pay any person who supplies laborers, rental machinery, tools, or equipment, all amounts due as the result of the use of such laborers, machinery, tools, or equipment, in performance of the Work, the surety will pay the same in an amount not exceeding the sum specified in the bond together with interest at the rate of 8% per annum. Unless the Construction Bond is executed, delivered and filed, no claim in favor of the Design/Build Contractor arising under the Design/Build Contract shall be audited, allowed or paid. A certified or cashier's check or bank money order made payable to RTD may be accepted in lieu of a bond. The Construction Bond shall also be conditioned upon an undertaking of the Design/Build Contractor to indemnify and save harmless RTD for any payments in connection with Design/Build Contract which RTD may be required to make under the law. Construction Permits: The Design/Build Contractor shall be responsible for obtaining all Permits required for the performance of the Work, other than the RTD Permits.

Construction Bond. As provided in Section 3.9. Landlord's Address for Payment of Rent: X.X. Xxx 0000, Xxxxxx, XX 00000-0000, or as otherwise directed by Landlord in writing from time to time. Tenant's Minimum

Construction Bond for each Plant, an on-demand construction bond in the amount of one million United States Dollars (US$1,000,000) drawn on an internationally recognised bank;

Construction Bond. As provided in Section 3.9.

Construction Bond means a corporate surety bond in a form and amount acceptable to the City Manager representing the value of the estimated cost of restoration of the public Right-of-Way pursuant to Section 6 of this Franchise Agreement.

Construction Bond means a bond, cash, letter of credit or other applicable security posted to ensure proper and complete Construction and/or Restoration of a Permitted Facility pursuant to a Permit as may be required as determined by the Municipal Manager or his/her designee.