Examples of Demand for Payment in a sentence
SURETY By: (seal) PRINCIPAL By: (seal) List of Exhibits Exhibit A – Form of Demand for Payment Exhibit B – Form of Surety Bond Change Notice EXHIBIT A TO SURETY BOND NO.
A demand for payment by the Obligee shall be presented to the Surety in the form of a Demand for Payment similar to that shown in Exhibit A to this Bond.
For the purposes of this Demand for Payment, the phrase “fully liquidated or otherwise exhausted” means that Principal has not performed one or more of its Obligations notwithstanding the fact that we have demanded such performance which for any reason whatsoever has not been rendered within thirty calendar days of such demand.
For the purposes of this Demand for Payment, the phrase "fully liquidated or otherwise exhausted" means that there still remains amounts due and owing with respect to the Principal’s Obligations notwithstanding the fact that we have issued demands for payment of such amounts which for any reason whatsoever have not been paid in full within thirty calendar days of such demand.
The Surety shall satisfy and discharge the Obligations of the Principal (to the extent such Obligations consist of the payment of money) and shall pay to Obligee all such amounts attributable to the Principal’s failure to perform one or more of its Obligations which does not consist of the payment of money in accordance with paragraph 2, but subject to paragraph 3, only after the Obligee delivers a Demand for Payment substantially in the form of Exhibit A.