Payment and Performance Obligations Sample Clauses

POPULAR SAMPLE Copied 1 times
Payment and Performance Obligations. If any payment or performance obligation of the Borrower shall come due or otherwise be required on a day that is not a Business Day, payment or performance shall be made on the next following Business Day, and such extension of time shall be reflected in respect of computing interest or fees, as the case may be.
View SourceView Similar (2)
Payment and Performance Obligations. Each party shall pay and perform all of its obligations as a named insured or an additional named insured under the Environmental Insurance Policy in order to preserve the benefits of insurance coverage for both parties. Without limiting the generality of the foregoing, the parties agree (i) that the Port shall pay for all co-insurance participation percentage payments due under Coverages K and L of the Policy, (ii) Georgia Pacific shall pay the premium for risk transfer portion of the Environmental Impairment Liability insurance ($80 million dedicated limit for Coverages K & L and a $25 million dollar dedicated limit for Coverages A, C, D, F, G H and J) to the extent provided in Section 5.2, (iii) the Port and Georgia-Pacific shall each pay fifty percent (50%) of the deductibles for unknown Pollutants within the meaning of Coverage A of the Environmental Insurance Policy and for deductibles for Coverage A of the Environmental Insurance Policy for regulatory changes, (iv) Georgia-Pacific shall pay one hundred percent (100%) of the deductibles for third party claims under the Environmental Impairment Liability portion of the Policy to the extent such Claim arises from a Pollution Condition that existed prior to the Inception Date of the Policy, and (v) the Port shall pay one hundred percent (100%) of the deductibles for third party claims under the Environmental Impairment Liability portion of the Policy to the extent such Claim arises from a Pollution Condition that first existed after the Inception Date of the Policy.
View Source
Payment and Performance Obligations. Borrower hereby unconditionally, irrevocably and absolutely agrees to make prompt and full payment of all payment obligations owed under this Continuing Covenant Agreement and the other Financing Documents (including Project Loan Payments corresponding to payments due on the Governmental Note, as well as all additional payments of fees, expenses and other amounts owed thereunder), whether now existing or hereafter arising in respect of the Indebtedness, irrespective of their nature, whether direct or indirect, absolute or contingent, with interest thereon at the rate or rates provided in such Financing Documents, and to duly perform all other obligations hereunder and thereunder. ▇▇▇▇▇▇▇▇’s personal liability under this Section 3.09 will be limited as set forth in Section 9 of the Project Note. No partner or member of Borrower will have any liability under this Section 3.09 except as set forth in Section 9 of the Project Note.
View SourceView Similar (5)
Payment and Performance Obligations. The Mortgagor will duly and punctually pay or cause to be paid and duly perform, observe and comply with the Secured Obligations.
View SourceView Similar (4)
Payment and Performance Obligations 
View Source

Related to Payment and Performance Obligations

  • Payment and Performance The Borrower will pay all amounts due under the Loan Documents in accordance with the terms thereof and will observe, perform and comply with every covenant, term and condition expressed or implied in the Loan Documents. The Borrower will cause each other Loan Party to observe, perform and comply with every such term, covenant and condition in any Loan Document.

  • Payment and Performance Bonds A payment bond and performance is required for a public works contract involving expenditure in excess of twenty-five thousand dollars ($25,000) and no work can be commenced prior to both bonds being approved the County. The Contractor shall furnish, at time of signing the Contract, one surety bond which shall protect the laborers and material men and shall be for $60,000, in accordance with Section 9554 of the Civil Code, and one surety bond in the amount of $60,000, guaranteeing the faithful performance of the Contract. If at any time the value of the total task orders is expected to exceed $60,000, the Contractor shall furnish, in a manner acceptable to the County, evidence that the Contractor is bonded to the expected total value of outstanding task orders for both the faithful performance and laborers and material men bonds. Contractor shall not be entitled to, nor shall County authorize, task orders when the total outstanding value of the task orders under this contract exceeds the bond values for which the County is an obligee. Said bonds to be approved by the office of the County Counsel and the County Executive Office of Orange County. Such bonds shall be the forms provided in these specifications and issued and executed by an admitted surety insurer (authorized to transact surety insurance in California). (e.g., if the bonds are issued through a surplus line broker, both the surplus line broker and the insurer with whom he is doing business for purposes of this project must be licensed in California to issue such bonds.) The faithful performance bond shall be issued by a Surety company with a minimum insurance rating of A- (Secure Best’s Rating) and VIII (Financial Size Category) as determined by the most current edition of the Best’s Key Rating Guide/Property-Casualty/United States or ▇▇▇▇▇▇.▇▇▇. The Surety Company must also be authorized to write in California by the Department of the Treasury, and must be listed on the most current edition of the Department of Treasury’s Listing of Approved Securities. If any surety upon any bond furnished in connection with this Contract becomes unacceptable to the County, or if any such surety fails to furnish reports as to his financial condition from time to time as requested by OC Public Works, the Contractor shall promptly furnish such additional security as may be required by OC Public Works or the Board of Supervisors from time to time to protect the interests of the County and of persons supplying labor or materials in the prosecution of the Work contemplated by this Contract. If the County increases the total Contract amount the Contractor is to provide a new bond for the new total Contract amount or a bond for the difference.

  • Payment and Performance of Obligations Pay and perform all material Obligations under this Agreement and the other Loan Documents, and pay or perform (a) all taxes, assessments and other governmental charges that may be levied or assessed upon it or any of its property, and (b) all other indebtedness, obligations and liabilities in accordance with customary trade practices; except to the extent that IPT or the Borrower is contesting any item described in clauses (a) or (b) of this Section 7.5 in good faith and is maintaining adequate reserves with respect thereto in accordance with GAAP.

  • Payment and Performance Bond Prior to the execution of this Contract, City may require Contractor to post a payment and performance bond (Bond). The Bond shall guarantee Contractor’s faithful performance of this Contract and assure payment to contractors, subcontractors, and to persons furnishing goods and/or services under this Contract.

  • Guaranty of Payment and Performance Guarantor’s obligations under this Guaranty constitute an unconditional guaranty of payment and performance and not merely a guaranty of collection.