Defects Liability Security definition

Defects Liability Security means an on-demand performance bond for the Warranty Periods in the form substantially the same as the form of the Performance Security set out in Attachment A to the Particular Conditions.
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Defects Liability Security means a bank guarantee or insurance guarantee that the Contract Engineer is obliged to provide to the Client in accordance with Clause 15.2.
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Defects Liability Security means a Bank Guarantee in the amount specified in Item 16 of Schedule 1.
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Examples of Defects Liability Security in a sentence

  • Failure to deliver the Defects Liability Security on time shall authorise the Employer to call the entire amount of the Performance Security and keep it as cash deposit in lieu of the Defects Liability Security.

  • The Contractor shall deliver the Defects Liability Security within 7 days after the issue of the final Taking Over Certificate for the whole of the Works, in which case the Employer shall return the Performance Security to the Contractor within 7 days of the date of receipt of the Defects Liability Security.

  • The Defects Liability Security shall be for the amount of five per cent (5%) of the Contract Price.

  • The Defects Liability Security shall be for the amount of 5% (five percent) of the Contract Price.

  • Information purposes only.- MMSB’s Auditors Report – A review of the recommendations/comments/notes was presented and explained by the Chairperson.- Letter from Northern Arm – they have the option of going into the Regional site vs transfer station in Point Leamington.

  • Insert period] of the end of the Defects Liability Period if, at that time, the Defects Liability Security or remaining part has not been accessed by the Council in accordance with this Deed and the Developer is not in breach of this Deed.

  • The Council is to release and return the Defects Liability Security, or any remaining part, to the Developer within [Drafting note.

  • Failure to provide the Defects Liability Security by the deadline entitles the Client to draw on the Performance Bond an amount equal to the Defects Liability Security and to retain it as a cash deposit instead of the Defects Liability Security.

  • The Defects Liability Security will secure, among other things, the proper performance of the obligations of the Contract Engineer in the Warranty Period, payment of contractual penalties, and any claims of the Client against the Contract Engineer in connection with the Agreement.

  • Delete this clause if no Developer Works are being carried out, or no Defects Liability Security is required to be provided.] The Developer is to deliver the Defects Liability Security to the Council [Drafting note.


More Definitions of Defects Liability Security

Defects Liability Security means a Bank Guarantee or other form of security on terms reasonably satisfactory to the Council in the amount of $29,083 indexed in accordance with the ‘Consumer Price Index – Sydney All Groups’ published by the Australian Bureau of Statistics;
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Defects Liability Security means Security in the amount of $139,056.40, which is equal to 2.5% of the Agreed Contributions Value of the Works in Kind, indexed quarterly in accordance with the Consumer Price Index (All Groups Sydney) published by the Australian Bureau of Statistics on and from the date of this Agreement.
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Defects Liability Security means a Bank Guarantee in the amount specified in Item 5 of the Reference Schedule that relates to the Developer Works (Council).
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Related to Defects Liability Security

  • Products Liability means:Your legal liability in respect of Personal Injury and/or Property Damage caused by or arising out of any Products or the reliance upon a representation or warranty made at any time with respect to such products; but only where such Personal Injury and/or Property Damage occurs away from premises owned or leased by or rented to You and after physical possession of such products has been relinquished to others.

  • Defects Liability Period means the warranty period following the taking over, during which the Contractor is responsible for making good, defects and damage in Goods and Services provided, under the Contract.

  • BRRD Liability means a liability in respect of which the relevant Write Down and Conversion Powers in the applicable Bail-in Legislation may be exercised.

  • Defects Liability Expiry Certificate means the certificate to be issued by the Client to the Contractor, in accordance with the Contract.

  • Defects Liability Certificate means the certificate issued by Architect upon correction of defects by the Contractor.

  • Defects Liability Period (Warranty Period) means the period stated in the Schedule A Special Stipulations, following the taking over, during which the Contractor is responsible for making good defects and damage in accordance with Clause 15.

  • Product Liability means any liability, claim or expense, including but not limited to attorneys’ fees and medical expenses, arising in whole or in part out of a breach of any express or implied product warranty by the Company, strict liability in tort, negligent manufacture of product, negligent provision of services, product recall, or any other allegation of liability arising from the design, testing, manufacture, packaging, labeling (including instructions for use), or sale of products.

  • Defect Liability Period in relation to a work means the specified period from the date of COMPLETION CERTIFICATE upto the date of issue of FINAL CERTIFICATE during which the CONTRACTOR stands responsible for rectifying all defects that may appear in the works executed by the CONTRACTOR in pursuance of the CONTRACT and includes warranties against Manufacturing/Fabrication/ Erection/Construction defects covering all materials plants, equipment, components, and the like supplied by the CONTRACTOR, works executed against workmanship defects.

  • UK Bail-in Liability means a liability in respect of which the UK Bail-in Powers may be exercised.

  • Aircraft Liability This policy does not cover "aircraft liability".

  • Product Liability Claim means a Claim of a Third Party (other than a Claim arising out of use of the Product in a clinical trial) that (i) arises as a result of the use of the Product during the Term that results in personal injury or death or (ii) is in anticipation of or intended to prevent or forestall personal injury or death as a result of the use of the Product during the Term.

  • Legal Liability means responsibility which courts recognize and enforce between persons who sue one another.

  • Suretyship Liability means any agreement, undertaking or arrangement by which any Person guarantees, endorses or otherwise becomes or is contingently liable upon (by direct or indirect agreement, contingent or otherwise, to provide funds for payment, to supply funds to or otherwise to invest in a debtor, or otherwise to assure a creditor against loss) any indebtedness, obligation or other liability of any other Person (other than by endorsements of instruments in the course of collection), or guarantees the payment of dividends or other distributions upon the shares of any other Person. The amount of any Person's obligation in respect of any Suretyship Liability shall (subject to any limitation set forth therein) be deemed to be the principal amount of the debt, obligation or other liability supported thereby.

  • Damage to Property means physical injury to or destruction of tangible property, including the loss of its use. Tangible property includes the cost of recreating or replacing stocks, bonds, deeds, mortgages, bank deposits and similar instruments, but does not include the value represented by such instruments.

  • Liability Cap has the meaning ascribed to it in paragraph 1 of Schedule 9;

  • Excluded Liability means any liability that is excluded under the Bail-In Legislation from the scope of any Bail-In Action including, without limitation, any liability excluded pursuant to Article 44 of the Bank Recovery and Resolution Directive.

  • Liability Claim has the meaning set forth in Section 7.2(a).

  • Breach of system security means unauthorized acquisition of computerized data that compromises the security, confidentiality, or integrity of sensitive personal information maintained by a person, including data that is encrypted if the person accessing the data has the key required to decrypt the data. Good faith acquisition of sensitive personal information by an employee or agent of the person for the purposes of the person is not a breach of system security unless the person uses or discloses the sensitive personal information in an unauthorized manner. Business and Commerce Code 521.053(a)

  • Environmental Damages means all liabilities (including strict liability), losses, damages (excluding consequential, special, exemplary or punitive damages except to the extent such damages were imposed upon an Indemnitee as a result of any claims made against such Indemnitee by a governmental entity or any other third party), judgments, penalties, fines, costs and expenses (including fees, costs and expenses of attorneys, consultants, contractors, experts and laboratories), of any and every kind or character, at law or in equity, contingent or otherwise, matured or unmatured, foreseeable or unforeseeable, made, incurred, suffered, brought, or imposed at any time and from time to time, whether before or after the Release Date and arising in whole or in part from:

  • Maximum Liability has the meaning assigned to such term in Section 10.10.

  • Hovercraft Liability This policy does not cover "hovercraft liability".

  • Indemnity Obligations means all obligations of the Company to Indemnitee under this Agreement, including the Company’s obligations to provide indemnification to Indemnitee and advance Expenses to Indemnitee under this Agreement.

  • Tax Warranty means a representation or warranty in Sections 3.17 or 3.19.

  • Environmental Damage means any material injury or damage to persons, living organisms or property or any material pollution or impairment of the environment resulting from the discharge, emission, escape or migration of any substance, energy, noise or vibration;

  • Environmental Liability means any liability, contingent or otherwise (including any liability for damages, costs of environmental remediation, fines, penalties or indemnities), of the Borrower or any Subsidiary directly or indirectly resulting from or based upon (a) violation of any Environmental Law, (b) the generation, use, handling, transportation, storage, treatment or disposal of any Hazardous Materials, (c) exposure to any Hazardous Materials, (d) the release or threatened release of any Hazardous Materials into the environment or (e) any contract, agreement or other consensual arrangement pursuant to which liability is assumed or imposed with respect to any of the foregoing.

  • Property damage means physical injury to, destruction of, or loss of use of tangible property.