Warranty Bond definition

Warranty Bond means an unconditional and irrevocable bank guarantee for an amount determined by Endeavour Energy, having regard to the value of the Network Connection Works which is:

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Warranty Bond means the insurance bond on first demand equal to 15 % (fifteen per cent) of the Consideration, issued by a first-class insurance company which has been attributed, at least a S&P A-rating or which, in any case, satisfies the Principal and the Financing Entity;

Warranty Bond means and is referred to as a function and maintenance bond, it is generally used to insure the satisfactory operation to public improvements within an approved development. The developer is the principal and the city is the obligee. The warranty bond has a beginning and ending date in amount specified per CMC Section 17.21.040(B)(1). At the end of the warranty period, the city will assume responsibility for the maintenance and repair of the public improvement.

Examples of Warranty Bond in a sentence

• Upon execution of this Agreement, Contractor shall provide a Warranty Bond in the amount of 20% of the Contract Price, as security for the true and faithful performance of all warranties set forth in Bid Documents and this Agreement.

• Contractor shall provide a Warranty Bond in the amount of the Contract amount to cover the warranty period after acceptance.

• Upon Final Completion, Contractor shall provide a Warranty Bond in the amount of 20% of the Contract Price, as security for the true and faithful performance of all warranties set forth in the Agreement.

• The Warranty Bond shall be in an amount equal to 10% of the Price and shall be in the form attached hereto as Exhibit 12.

• Prior to final final payment, Contractor shall provide Owner with a Warranty Bond in the sum of ten percent (10%) of the Contract Sum or ten percent (10%) of the GMP for Construction Manager At-Risk Contracts for twelve (12) months from Substantial Completion of the Work.

More Definitions of Warranty Bond

Warranty Bond shall have the meaning set forth in Section 8.1.7 of the Agreement.

Warranty Bond means the warranty bond to be provided by the Design- Builder on the Acceptance Date, as described and maintained pursuant to subsection 10.2(B) (Warranty Bond).

Warranty Bond means an unconditional Standby Letter of Credit or a Bank Guarantee, payable with 30-day notice, issued by a reputable South African bank acceptable to Company (or confirmed by a reputable South African bank acceptable to Company, if issued by a foreign bank), in an amount and expiry date as stipulated in the Agreement. The Warranty Bond shall guarantee the faithful, complete and timely fulfilment of Provider’s obligations during the Warranty Period.

Warranty Bond means a bond which secures the Performance Design-Build Work Warranty responsibilities set forth herein and guarantees that the Equipment Contractor will come back and fix defective work or material if an issue arises during the Warranty Period.

Warranty Bond is defined in Schedule 23 (Termination Buy-­‐Out and Transfer Provision).

Warranty Bond. Shall have the meaning described within Section 21.3 of this Agreement. Working Day(s): Monday through Friday, excluding City holidays.

Warranty Bond shall have the meaning set forth in Section 12.2.3 of this Contract.