Examples of Surety Obligations in a sentence
The Contractor’s execution and delivery of the form of Guarantee is an express condition precedent to any obligation of the District to disburse the Final Payment to the Contractor.13.4 Survival of Warranties; Surety Obligations.
VIII-B: Statute of Limitations and Surety Obligations The statute of limitations on a surety’s obligation to cure the defects and performance of a construction contract accrues on the date of acceptance of the project as having been completed according to the terms and conditions set out in the construction contract.
The Parties agree that neither RemainCo nor any of its Subsidiaries will have any obligation to renew any Surety Instruments relating to the RemainCo Surety Obligations for the SpinCo Business, after the expiration of any such Surety Instruments, provided that nothing in this Section 6.7(a) shall prevent RemainCo or any of its Subsidiaries from renewing any Surety Instrument.
By the Insurance Motion, the Debtors request (i) authority, but not direction to (a) continue to maintain, and renew, in their sole discretion, their Insurance Policies and Programs, (b) honor its Insurance and Surety Obligations (as defined below) in the ordinary course of business during the administration of these chapter 11 cases; and (ii) related relief.
In order to preserve the value of the Debtors’ estates and to protect against uninsured loss, the Debtors seek authority to pay any prepetition Insurance and Surety Obligations.