Security for Performance and Guarantee Clause Samples

Security for Performance and Guarantee. Unless Developer submits new or additional security in an amount equal to ten percent (10%) of the Estimated Total Cost of the Improvements, the security for performance and guarantee shall not be reduced or released in an amount greater than ninety percent (90%) of the aggregate principal amount thereof prior to the expiration of the one-year guarantee and warranty period specified in Section 3.A. nor until any claims filed during the one-year warranty period have been settled.
View SourceView Similar (5)
Security for Performance and Guarantee. Unless SUBDIVIDER submits new or additional security in an amount equal to ten percent (10%) of the Estimated Total Cost of the Improvements, the security for performance and guarantee shall not be reduced or released in an amount greater than ninety percent (90%) of the aggregate principal amount thereof prior to the expiration of the one-year guarantee and warranty period specified in Section 3.A. nor until any claims filed during the one-year warranty period have been settled.
View SourceView Similar (3)
Security for Performance and Guarantee. Security may be released incrementally following the completion and documentation of the completion of work and written approval by the County Engineer provided warranty bonds shall be required to be put in place for the completed work. Securities will be released incrementally in conformance with Schedule A and only upon completion of all improvements in a related category of Schedule A. Unless the Developer submits a warranty bond (where applicable) or additional security in an amount equal to ten percent (10%) of the Estimated Total Cost of the Improvements, security shall not be reduced or released in an amount greater than ninety percent (90%) of the total security amount thereof prior to the expiration of the one (1) year guarantee and warranty period specified in Section 3.A. nor until any claims filed during the one (1) year warranty period have been settled.
View Source

Related to Security for Performance and Guarantee

  • Security for Performance In the event that Exhibit A Section 4 indicates the need for Consultant to provide additional security for performance of its duties under this Agreement, Consultant shall provide such additional security prior to commencement of its Required Services in the form and on the terms prescribed on Exhibit A, or as otherwise prescribed by the City Attorney.