Construction Bonds definition

Construction Bonds means bonds issued by surety bond companies for the benefit of, and as required by, municipalities or other political subdivisions to secure the performance by Borrower or any Subsidiary of its obligations relating to lot improvements and subdivision development and completion.

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Construction Bonds means bonds issued by surety bond companies or other Persons or other security for the benefit of municipalities or other political subdivisions to secure the performance by the Borrower or any Subsidiary thereof of its obligations relating to Real Estate improvements and subdivision development and completion.

Construction Bonds means all Bonds, whether issued in one or more Series, authenticated and delivered pursuant to Section 2.03, and any Bonds thereafter authenticated and delivered in lieu thereof or in substitution therefor pursuant to Article III or Section 4.04 or Section 8.06.

Examples of Construction Bonds in a sentence

• Completed AIA Form G704 (Certificate of Substantial Completion) and completed AIA Form G707 (Consent of Surety to Final Payments) shall have been executed and delivered by Borrower’s Architect, General Contractor and each surety issuing any of the Required Construction Bonds.

• The County shall approve the initial or revised Construction Bonds if they meet the standards set forth in subsection (a) above.

• If the proposed Construction Bonds are not approved by the County, then the County shall notify the Borrower in writing of the reasons for disapproval and the required revisions to the previously submitted Construction Bonds.

• Since the American Tobacco Trail serves as an alternate sidewalk for the Fayetteville Street corridor, it can be argued that this is an appropriate use of the 2007 New Sidewalk Construction Bonds, and though not specifically contemplated as a use for the funds, nevertheless an appropriate use that acknowledges the changing priorities of pedestrian needs.

• The Borrower shall thereafter submit revised proposed Construction Bonds within fifteen (15) days of the notification of disapproval.

More Definitions of Construction Bonds

Construction Bonds means all Bonds, whether issued in one or more Series, authenticated and delivered pursuant to Section 2.03, and any Bonds thereafter authenticated and

Construction Bonds means all Bonds, whether issued in one or more Series, authenticated and delivered for the purpose of paying or providing for the payment of all or a portion of the Cost of Construction of a Project and any Bonds thereafter authenticated and delivered in lieu thereof or in substitution therefor.

Construction Bonds is defined in Section 6.3.A.

Construction Bonds means any letters of credit, bank guarantee, bonds, performance security and other forms of security issued or to be issued from time to time in favour of any Borrower Entity in accordance with the terms of the Construction and Drilling Contracts.

Construction Bonds bonds issued by surety bond companies for the benefit of, and as required by, municipalities or other political subdivisions to secure the performance by Borrower or any Subsidiary of its obligations relating to lot improvements and subdivision development and completion. “Contingent Obligation”: of any Person, any agreement, undertaking or arrangement by which such Person assumes, guarantees, endorses, contingently agrees to purchase or provide funds for the payment of, or otherwise becomes or is contingently liable upon, the monetary obligation or monetary liability of any other Person, or agrees to maintain the net worth or working capital or other financial condition of any other Person, or otherwise assures any creditor of such other Person against loss, including, without limitation, any comfort letter, operating agreement, take-or-pay contract, “put” agreement or other similar arrangement; provided that Contingent Obligations shall not include (i) obligations in respect of Financial Letters of Credit, (ii) re-margin guarantees and (iii) guarantees of payment of funded debt. “Continue”, “Continuation” and “Continued” each refers to the continuation of a Term SOFR Loan from one Interest Period to another Interest Period pursuant to Section 2.9. “Contractual Obligation”: any provision of any security issued by such Person or of any agreement, instrument or other undertaking to which such Person is a party or by which it or any of its property is bound. 11

Construction Bonds means an issue in which all of the obligations of the issue are either (a) governmental bonds; (b) qualified section 501(c)(3) bonds; or (c) Private Activity Bonds used to finance property owned by a Governmental Unit or a tax-exempt organization, if at least seventy-five percent (75%) of the Available Construction Proceeds of such issue are to be used or are expected to be used if such an election has been made, for expenditures for construction, reconstruction and rehabilitation of property which is owned by a Governmental Unit or a tax-exempt organization.

Construction Bonds means copies of labor and material bonds and performance bonds for the Construction Work in an amount equal to one hundred percent (100%) of the scheduled cost of the Construction Work.