Financial Close Bond definition

Financial Close Bond means the security that Proposers may submit to Department after award as further described in ITP Section 4.9.
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Financial Close Bond. The bond to be submitted by the Concessionaire
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Financial Close Bond. The bond to be submitted by the Concessionaire pursuant to section 11, substantially in the form and content as provided in Schedule H [Form of Financial Close Bond]
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Examples of Financial Close Bond in a sentence

  • If the Concessionaire fails to achieve Financial Close in accordance with the terms of this Agreement, FBR shall be entitled to declare a Concessionaire Event of Default, Terminate this Agreement and forfeit the Financial Close Bond.

  • In the event that FBR refuses to return the Financial Close Bond, the Concessionaire shall not be obliged to submit the Construction Performance Bond and, in doing so, shall not be considered to be in breach of this Agreement.

  • In the event that FBR does not return the Financial Close Bond as above, the Financial Close Bond shall be deemed to have been cancelled.

  • If, however, the Concessionaire is unable to achieve Financial Close due to FBR’s failure to fulfill a Condition Precedent within the prescribed time period, the Concessionaire shall be entitled to declare FBR Event of Default, Terminate this Agreement and FBR shall immediately and in any event within seven (7) Days of the date of the Termination Notice return the Financial Close Bond to the Concessionaire.

  • The Concessionaire shall keep the Financial Close Bond valid till such time that it is replaced by the Construction Performance Bond.

  • The Financial Close Bond shall be returned to the Concessionaire simultaneously with the provision of the Construction Performance Bond.