Surety definition

Surety. Ambac, or its successors in interest, or such other surety as may be identified in the Series Supplement.

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Surety means a company that is duly certified to do business in the State of New Jersey and that is qualified to issue bonds in the amount and of the type and character required by these specifications.

Surety means any corporation that executes, as Surety, the Contractor's Bid Bond, Payment Bond and Performance Bonds securing the performance of this Contract.

Examples of Surety in a sentence

Upon the occurrence and during the continuance of an Event of Default, if Lender so requests, any such indebtedness of a Borrower now or hereafter owed to any Surety shall be collected, enforced and received by such Surety as trustee for Lender and shall be paid over to Lender in kind on account of the Obligations, but without reducing or affecting in any manner the obligations of such Surety under the other provisions of this Agreement.
Each Borrower, in its capacity as Surety, expressly waives the benefit of any and all statutes of limitation, and any and all laws providing for exemption of property from execution or for evaluation and appraisal upon foreclosure, to the maximum extent permitted by applicable Legal Requirements.
Upon the occurrence and during the continuance of an Event of Default, should such Surety fail to collect or enforce any such indebtedness of a Borrower now or hereafter owed to such Surety and pay the proceeds thereof to Lender in accordance with this subsection, Lender as such Surety’s attorney in fact may do such acts and sign such documents in such Surety’s name as ▇▇▇▇▇▇ considers necessary or desirable to effect such collection, enforcement and/or payment.

More Definitions of Surety

Surety means the individual or entity committing to provide any of the bonds identified in the RFP.

Surety means an entity licensed under state insurance laws

Surety means an entity licensed under state insurance laws or by the state department of licensing, to write corporate, property, or probation bonds within the state, and justified and approved by the superior court of the county having jurisdiction of the case;

Surety. Ambac Assurance Corporation, or its successors in interest.

Surety means the person, firm, partnership, corporation, limited liability company or other entity that has the requisite authority to execute the bonds required from the Contractor.

Surety means an entity licensed under state

Surety means any corporation that executes, as Surety, the Contractor's Bid Bond and/or Payment and Performance Bonds securing the performance of this Contract, if required.