Common use of Maintenance Payment and Performance Bonds Clause in Contracts

Maintenance Payment and Performance Bonds. 3.2.3.1 As Maintenance Security, DB Contractor may elect to provide and maintain payment and performance bonds in the amount and pursuant to the requirements set forth in this Section 3.2.3 and Section 4.1 of the CMA (the “P&P Bonds”). 3.2.3.2 If DB Contractor elects to provide P&P Bonds as Maintenance Security hereunder, DB Contractor shall obtain and provide to TxDOT at the times required herein, and shall maintain at all times (a) DocuSign Envelope ID: 69FAD993-F221-4BEC-895E-9675AB93CDF8 the Maintenance Performance Bond and (b) the Maintenance Payment Bond that shall guarantee the performance of the Maintenance Services and shall also guarantee payment to Persons performing certain work for DB Contractor under this Capital Maintenance Contract. The Maintenance Performance Bond and the Maintenance Payment Bond shall each have a term equal to or greater than the then-current Maintenance Term. The amount of the Maintenance Performance Bond for each Maintenance Term shall be equal the total Maintenance Price payments to be made in the applicable Maintenance Term in accordance with Exhibit 3 to the CMA as such amounts are adjusted in accordance with this Section 3.2.3.2. For the purpose of determining the adjusted Maintenance Price payments in the preceding sentence, the annual Maintenance Price payment amounts described in Section 8.1 and set forth in Exhibit 3 to the CMA shall be adjusted, to the date that is 60 days prior to the date the Maintenance Security amount is required, using ENR CCI in accordance with the methodology set forth in Section 8.1.3 and then at an annual rate of 3% for each succeeding year. 3.2.3.3 DB Contractor shall deliver to TxDOT a Maintenance Payment Bond in the same amount and at the same times as is required for the Maintenance Performance Bond pursuant to Section

Maintenance Payment and Performance Bonds. 3.2.3.1 As Maintenance Security, DB Contractor may elect to provide and maintain payment and performance bonds in the amount and pursuant to the requirements set forth in this Section 3.2.3 and Section 4.1 of the CMA (the “P&P Bonds”). 3.2.3.2 If DB Contractor elects to provide P&P Bonds as Maintenance Security hereunder, DB Contractor shall obtain and provide to TxDOT at the times required herein, and shall maintain at all times (a) DocuSign Envelope ID: 69FAD9938320AD6C-99DF-41FA-9908-F221-4BEC-895E-9675AB93CDF8 4E441F89A70B the Maintenance Performance Bond and (b) the Maintenance Payment Bond that shall guarantee the performance of the Maintenance Services and shall also guarantee payment to Persons performing certain work for DB Contractor under this Capital Maintenance Contract. The Maintenance Performance Bond and the Maintenance Payment Bond shall each have a term equal to or greater than the then-current Maintenance Term. The amount of the Maintenance Performance Bond for each Maintenance Term shall be equal the total Maintenance Price payments to be made in the applicable Maintenance Term in accordance with Exhibit 3 to the CMA as such amounts are adjusted in accordance with this Section 3.2.3.2. For the purpose of determining the adjusted Maintenance Price payments in the preceding sentence, the annual Maintenance Price payment amounts described in Section 8.1 and set forth in Exhibit 3 to the CMA shall be adjusted, to the date that is 60 days prior to the date the Maintenance Security amount is required, using ENR CCI in accordance with the methodology set forth in Section 8.1.3 and then at an annual rate of 3% for each succeeding year. 3.2.3.3 DB Contractor shall deliver to TxDOT a Maintenance Payment Bond in the same amount and at the same times as is required for the Maintenance Performance Bond pursuant to Section