Removal Bond definition

Removal Bond means a bond posted to ensure the availability of sufficient funds to properly remove a Provider's Facilities upon abandonment, disuse, or discontinuance of a Provider's use or occupation of the Rights of Way.
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Removal Bond means a bond or other instrument acceptable to Buyer to be used for the payment of costs associated with the removal of the Solar Facility and restoration of the Premises.
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Removal Bond means (i) a surety bond or an unconditional, irrevocable guaranty by Sun Edison LLC of the decommissioning and removal obligations of the System and restoration of the Premises to its original condition, in form and substance satisfactory to Purchaser up to the eighteenth anniversary of the Commercial Operation Date, and (ii) on such anniversary to the end of the Term a surety bond in the amount of $.10/Wdc (or, if greater, 150 percent of a reasonable estimate to remove the System from the Premises without deduction for assumed salvage value, and to restore the Premises to their original condition) for the decommissioning and removal of the System and the restoration of the Premises to its original condition in accordance with Exhibit B. The surety bond shall be issued by a surety listed on the U.S. Department of Treasury Circular 570, be reasonably satisfactory to Purchaser, be licensed to do business in Massachusetts, and be rated as A.M. Best A+ XII or better.
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Examples of Removal Bond in a sentence

  • The Removal Bond shall not be cancelled, materially changed, or reduced without first giving written notice to Landlord and Tenant at least thirty (30) days in advance and obtaining Landlord’s prior written consent.

  • Prior to issuance of a building permit or special use permit, the owner and operator of the Solar Farm shall execute a Decommissioning Agreement secured by a Removal Bond or other suitable guarantee in a face amount of not less than 150% of the estimated costs, as determined by the Planning Board upon recommendation of the Town Engineer, to ensure removal of the Solar Energy System or facility or structure in accordance with the Decommissioning Plan described herein and the Battery Energy Storage System.

  • Owner shall deliver notice, within thirty (30) days of receiving the written evidence of such Removal Bond, of such contest, upon which Tenant will provide a summary of how the Net Removal Costs were determined.

  • The Removal Bond shall be maintained during the Term of this Lease, and the amount of said bond shall be recalculated by Tenant at least every five (5) years and adjusted accordingly based upon the updated costs of removal of the System.

  • The Removal Bond shall be maintained during the Term of this Lease, and the amount of said bond shall be recalculated by Tenant at least every five (5) years and adjusted accordingly based upon the costs of removal of the Communication Facility.

  • Upon a Surety’s written notice to City of cancellation of a Removal Bond, Permittee must submit written notice and proof of a replacement Removal Bond within thirty (30) days.

  • Houlemard, Jr. reviewed the items on the draft Special Board Meeting agenda for October 7, 2019, noting this special meeting is to review the legal documents pertaining to the Building Removal Bond legal documents, and possibly a closed session regarding the ongoing discussion regarding Executive Officer, Assistant Executive Officer goals which the Executive Committee will review and decide upon.

  • All fees and the Removal Bond, or the cash payment provided in lieu of the Removal Bond, shall be delivered to City at the address specified in paragraph 12 herein for the giving of notices.

  • The Removal Bond, or the cash payment provided in lieu of the Removal Bond, shall be provided to the City on the date the City issues the Revocable Permit to Permittee.

  • In the event Permittee removes those structures and equipment from the Premises as required by the City, and restores the Premises to their original condition prior to the issuance of the Revocable Permit as required by the City, City shall release the Removal Bond or any cash payment provided in lieu of the Removal Bond.


More Definitions of Removal Bond

Removal Bond has the meaning given such term in Section 3.19(a)(ii)(B).
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Related to Removal Bond

  • Replacement Bonds means Bonds issued to the Beneficial Owners of the Bonds in accordance with Section 210 hereof.

  • Initial Bond means any Bond issued on the First Issue Date. “Initial Bond Issue” has the meaning set forth in Clause 2.1.

  • Bail bond means a bond for a specified monetary amount executed by the defendant or principal and a qualified licensee which is issued to a court, magistrate, or authorized officer as security for the subsequent appearance of the defendant upon his release from actual custody pending the appearance;

  • Replacement Engine means a [Engine Manufacturer and Model] engine (or an engine of the same or another manufacturer of a comparable or an improved model and suitable for installation and use on the Airframe with the other Engine (or any other Replacement Engine being substituted simultaneously therewith)) that shall have been made subject to the Lien of the Indenture pursuant to Section 7.04 or Section 7.05 thereof, together with all Parts relating to such engine, but excluding items installed or incorporated in or attached to any such engine from time to time that are excluded from the definition of Parts.

  • Replacement Mortgage Loan A Mortgage Loan or Mortgage Loans in the aggregate substituted by the Seller for a Deleted Mortgage Loan, which must, on the date of such substitution, as confirmed in a Request for Release, (i) have a Stated Principal Balance, after deduction of the principal portion of the Scheduled Payment due in the month of substitution, not in excess of, and not less than 90% of, the Stated Principal Balance of the Deleted Mortgage Loan; (ii) if the Replacement Mortgage Loan is a fixed rate Mortgage Loan, have a fixed Mortgage Rate not less than or more than 1% per annum higher than the Mortgage Rate of the Deleted Mortgage Loan; (iii) have the same or higher credit quality characteristics than that of the Deleted Mortgage Loan; (iv) have a Loan-to-Value Ratio no higher than that of the Deleted Mortgage Loan; (v) have a remaining term to maturity no greater than (and not more than one year less than) that of the Deleted Mortgage Loan; (vi) not permit conversion of the Mortgage Rate from a fixed rate to a variable rate; (vii) have the same lien priority as the Deleted Mortgage Loan; (viii) constitute the same occupancy type as the Deleted Mortgage Loan or be owner occupied; (ix) if the Replacement Mortgage Loan is an Adjustable Rate Mortgage Loan, have a Maximum Mortgage Rate not less than the Maximum Mortgage Rate on the Deleted Mortgage Loan, (x) if the Replacement Mortgage Loan is an Adjustable Rate Mortgage Loan, have a Minimum Mortgage Rate not less than the Minimum Mortgage Rate of the Deleted Mortgage Loan, (xi) if the Replacement Mortgage Loan is an Adjustable Rate Mortgage Loan, have a Gross Margin equal to or greater than the Gross Margin of the Deleted Mortgage Loan, (xii) if the Replacement Mortgage Loan is an Adjustable Rate Mortgage Loan, have a next Adjustment Date not more than two months later than the next Adjustment Date on the Deleted Mortgage Loan, (xiii) comply with each representation and warranty set forth in Section 7 of the Mortgage Loan Purchase Agreement and (xiv) the Custodian has delivered a Final Certification noting no defects or exceptions.

  • Removal Event has the meaning set forth in Section 12.12 hereof.

  • Removal Date means, with respect to the Removed Accounts designated hereby, , .

  • Depositor Order A written order or request, respectively, signed in the name of the Depositor by any one of its Executive Officers.

  • Removal Notice shall have the meaning specified in Section 2.07(b).

  • Required Special Servicer Rating means with respect to a special servicer (i) in the case of Fitch, a rating of “CSS3”, (ii) in the case of S&P, such special servicer is on S&P’s Select Servicer List as a U.S. Commercial Mortgage Special Servicer, (iii) in the case of Xxxxx’x, such special servicer is acting as special servicer for one or more loans included in a commercial mortgage loan securitization that was rated by Xxxxx’x within the twelve (12) month period prior to the date of determination, and Xxxxx’x has not downgraded or withdrawn the then-current rating on any class of commercial mortgage securities or placed any class of commercial mortgage securities on watch citing the continuation of such special servicer as special servicer of such commercial mortgage loans, (iv) in the case of Morningstar, such special servicer has a ranking by Morningstar equal to or higher than “MOR CS3” as a special servicer, provided that if Morningstar has not issued a ranking with respect to such special servicer, such special servicer is acting as special servicer in a commercial mortgage loan securitization that was rated by a Rating Agency within the twelve (12) month period prior to the date of determination, and Morningstar has not downgraded or withdrawn the then-current rating on any class of commercial mortgage securities or placed any class of commercial mortgage securities on watch citing the continuation of such special servicer as special servicer of such commercial mortgage securities, (v) in the case of KBRA, KBRA has not cited servicing concerns of such special servicer as the sole or material factor in any qualification, downgrade or withdrawal of the ratings (or placement on “watch status” in contemplation of a ratings downgrade or withdrawal) of securities in a transaction serviced by such special servicer prior to the time of determination, and (vi) in the case of DBRS, such special servicer is acting as special servicer in a commercial mortgage loan securitization that was rated by DBRS within the twelve (12) month period prior to the date of determination and DBRS has not downgraded or withdrawn the then-current rating on any class of commercial mortgage securities or placed any class of commercial mortgage securities on watch citing the continuation of such special servicer as special servicer of such commercial mortgage securities as a material reason for such downgrade or withdrawal.

  • Replacement Airframe means an Airbus A321 aircraft or a comparable or improved model of Manufacturer (except (a) Engines or engines from time to time installed thereon and any and all Parts related to such Engine or engines and (b) Excluded Equipment), that shall have been made subject to the Lien of the Indenture pursuant to Section 7.05 thereof, together with all Parts relating to such aircraft.

  • Removal Cut-Off Date means, with respect to the Removed Accounts, .

  • Removal means a removal for disciplinary reasons from the student’s current educational placement other than a suspension and change in placement to an interim alternative educational setting (IAES) ordered by an impartial hearing officer because the student poses a risk of harm to himself or herself or others.

  • Rating Agency Condition means, with respect to any action, that each Rating Agency shall have been given 10 days’ (or such shorter period as shall be acceptable to each Rating Agency) prior notice thereof and that each Rating Agency shall not have notified the Issuer or the Indenture Trustee in writing that such action will result in a reduction, withdrawal or down-grade of the then-current rating of each class of Notes.

  • MERS® System The system of recording transfers of mortgages electronically maintained by MERS.

  • Bond means a debt instrument (Sw. skuldförbindelse) for the Nominal Amount and of the type set forth in Chapter 1 Section 3 of the Financial Instruments Accounts Act and which are governed by and issued under these Terms and Conditions, including the Initial Bonds and any Subsequent Bonds.

  • Removal Notice Date means, with respect to the Removed Accounts designated hereby, , (which shall be a date on or prior to the fifth Business Day prior to the Removal Date).

  • Servicing Procedures means the servicing procedures of Ford Credit relating to retail installment sale contracts originated or purchased by Ford Credit as the procedures may change.

  • Replacement Card means a renewal or replacement Card issued to you by us;

  • Initial Bonds means the Bonds issued on the First Issue Date.

  • Security Bond means an amount payable by a tenant as security for the performance of his obligations under a residential tenancy agreement, including an amount referred to in section 29(1)(b)(ii);

  • Municipal bond means a bond or evidence of indebtedness issued by a municipality or other political subdivision of a state.

  • Replacement Notes means Notes issued to the Beneficial Owners of the Notes in accordance with Article II hereof.

  • Bonds means any bonds (including refunding bonds), notes, interim certificates, certificates of indebtedness, debentures or other obligations.