Construction Security definition

Construction Security means the financial assurance specified in Section VI.A and Exhibit C-2, to be provided by the Bank Sponsor to guarantee the completion of construction and planting to establish, restore or enhance Waters of the U.S., Waters of the State, and Covered Habitat on the Bank Property in accordance with the Development Plan.

Construction Security means the performance bond and labour and material payment bond and the Subguard Policy as contemplated in GC 11.2 – BONDS AND SUBGUARD POLICY of the Construction Contract.

Construction Security has the meaning ascribed thereto in Clause 12.4.1.

Examples of Construction Security in a sentence

• Notwithstanding anything in this Agreement to the contrary, drawing on the Construction Security Deposit shall be the sole and exclusive remedy of JPS for any liability, obligation or responsibility of the Company under this Agreement occurring or arising prior to the Commercial Operations Date.

• The Construction Security Deposit shall consist of one of the following: (i) a cash payment which shall be held in a segregated, interest-bearing account; or (ii) an unconditional and irrevocable direct pay letter of credit issued by a financial institution acceptable to JPS in a form and with substance acceptable to JPS.

• The Construction Security may be applied to the payment of liquidated damages or other Damages and accrued interest thereon as set forth in Clause 12.5.

• The Construction Security Deposit and any interest accrued thereon may be applied to the payment of liquidated damages or other Damages and accrued interest thereon.

• The Construction Security shall be an unconditional and irrevocable direct pay letter of credit issued by a bank acceptable to the Purchaser in form and substance satisfactory to the Purchaser.

More Definitions of Construction Security

Construction Security means the total amount of the security deposited by the Owner for completion of the Works and fulfilment of this Agreement, pursuant to section 6 of this Agreement.

Construction Security means bank guarantee provided by the Company for the purpose of securing the fulfillment of its obligations under Construction Phase.

Construction Security means the performance bond with Hospital as obligee and labour and material payment bond as contemplated in GC 11.2 - BONDS of the Construction Contract.

Construction Security means (a) a corporate guaranty from an Acceptable Guarantor for the benefit of Lessee substantially in the form of Exhibit B to the Facility Lease, or (b) an irrevocable letter of credit from an Acceptable Bank for the benefit of Lessee substantially in the form of Exhibit C to the Facility Lease, in each case, with a stated amount of twenty million Dollars ($20,000,000).

Construction Security means the insurance contemplated under GC 11.1 - INSURANCE of the Construction Contract and the performance bonds and labour and material payment bonds and the Subguard Policy as contemplated in GC 11.2 - BONDS of the Construction Contract.

Construction Security has the meaning given in Article 10.1.

Construction Security. (A) cash, (B) cash equivalents, (C) a Letter of Credit or (D) an alternative security reasonably acceptable to Landlord (or a combination thereof), in an amount equal to (x) in the case of Capital Improvements, the cost by which the budgeted cost of such Capital Improvements exceeds the Capital Improvements Threshold, and (y) in the case of a Restoration Deficiency, the amount of such deficiency.