Equipment Utilization Agreement definition

Equipment Utilization Agreement means the Equipment Utilization Agreement, dated as of the date hereof, among the Borrower, certain Subsidiaries of the Borrower as indemnitors, the Administrative Agent and Zurich, as surety thereunder, as may be amended, restated, supplemented or otherwise modified from time to time in accordance with the terms thereof.

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Equipment Utilization Agreement means the Equipment Utilization Agreement dated September 7, 2011, by and among the Surety, the Indemnitors and Bank of America, N.A., as Administrative Agent, as the same may be amended, restated, supplemented, modified or replaced from time to time.

Equipment Utilization Agreement means (i) that certain Equipment Utilization Agreement entered into by and among Administrative Borrower, Travelers Casualty and Surety Company of America and Co-Collateral Agents, dated as of September 15, 2014, (ii) that certain Equipment Utilization Agreement entered into by and among Administrative Borrower, Liberty Mutual Insurance Company and Co-Collateral Agents, dated as of January 30, 2015 and (iii) any other equipment utilization agreement or similar agreement, contract, undertaking or instrument entered into among any Borrower, Co-Collateral Agents and any other Person that may issue to any Borrower surety bonds or other instruments or suretyship, in form and substance satisfactory to Co-Collateral Agents in their sole discretion.

Examples of Equipment Utilization Agreement in a sentence

Agent and Surety agree that all capitalized terms used in this Agreement but not defined herein shall have the meaning given such terms in the Equipment Utilization Agreement, dated June 4, 2012 (the “EUA”), which has been executed by Indemnitors and Agent.
Promptly amend Schedule 1.01(g) hereto from time to time and deliver the same to Agent immediately after any changes are made to the list of Equipment set forth thereon that is subject to the Equipment Utilization Agreement, as the Net Book Value of such of Equipment shall be used to determine the amount of the Equipment Reserve at any given time.
Each Lender from time to time party hereto authorizes and consents, by its execution hereof or by the Assignment and Acceptance by which it became a Lender, to the Administrative Agent’s entering into the Equipment Utilization Agreement on such Lender’s behalf and taking all actions taken, required or permitted to be taken by the Administrative Agent thereunder.
In the event of Default under any Bonded Contract, Contractor agrees and does hereby grant to Surety the option to use Contractor’s Equipment to complete the work remaining to be performed under the Bonded Contract(s); provided, however, that such option must be exercised within forty-five (45) days following each event 1 To be completed by parties for each Equipment Utilization Agreement, as appropriate.

More Definitions of Equipment Utilization Agreement

Equipment Utilization Agreement means the Equipment Utilization Agreement, dated as of the date hereof, among the Borrower, certain Subsidiaries of the Borrower as indemnitors, Wells Fargo Bank, National Association, as Administrative Agent under the Existing Credit Agreement and Zurich, as surety thereunder, as may be amended, restated, supplemented or otherwise modified in writing from time to time in accordance with the terms thereof.

Equipment Utilization Agreement means the Equipment Utilization Agreement, dated as of September 7, 2011, among the Borrower, Great Lakes and the other Subsidiaries of the Borrower, the Administrative Agent and Zurich American Insurance Company, Fidelity and Deposit Company of Maryland, Colonial American Casualty and Surety Company and American Guarantee and Liability Insurance, as sureties thereunder, substantially in the form delivered to the Administrative Agent on September 7, 2011, and as may be amended from time to time to join additional indemnitors thereunder.

Equipment Utilization Agreement in the GIA is deleted in its entirety and replaced with the following new definition of “Equipment Utilization Agreement”:

Equipment Utilization Agreement means any Equipment Utilization Agreement substantially in the form attached hereto as Exhibit F entered into by the Collateral Agent at the request of a Surety pursuant to Section 14.11(c).

Equipment Utilization Agreement as currently defined in Section 1.01 of the Credit Agreement is hereby deleted in its entirety and replaced with the following:

Equipment Utilization Agreement means the Equipment Utilization Agreement dated June 4, 2012, by and among the Surety, the Indemnitors and Wells Fargo Bank, N.A., as Administrative Agent, as the same may be amended, restated, supplemented, modified or replaced from time to time.