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GUARANTY OF PERFORMANCE AND COMPLETION Sample Clauses

GUARANTY OF PERFORMANCE AND COMPLETION Sample Clauses 2025

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The document is a Guaranty of Completion made by a Guarantor in favor of the Fairfax County Redevelopment and Housing Authority (FCRHA) to ensure that a Tenant fulfills its obligations under a Lease for a property in Fairfax County, Virginia. The Guarantor agrees to guarantee the Final Completion of the Project, remove any liens, and cover costs associated with these obligations. It outlines the responsibilities of the Guarantor, including financial requirements and legal stipulations, while also waiving certain rights related to notice and trial by jury.

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What is an example of a performance clause?

The [Company.Name] agrees to perform the services in a professional manner and in ance with the performance specifications set forth in this Agreement. The [Company.Name] will address issues brought forth by the [Customer.Name] as soon as possible, generally within 24 hours.

Can you give me an example of a clause?

A clause is a group of related words containing both a subject and a verb. Remember that the subject is the who or what and the verb is the action. For example, in this sentence: I run daily, the subject, or who, is I, and the verb, or action, is run.

What is an example of a performance clause in a contract?

Employee agrees to devote all necessary time and his best efforts in the performance of his duties as Executive Vice President, Chief Financial Officer President and Treasurer of Corporation on behalf of Corporation and its subsidiaries and affiliates.

What is an example of a performance guarantee clause?

Example of a Performance Guarantee Clause: The liability of the Guarantor shall not exceed [amount] and shall remain in effect until [expiration date], unless extended by mutual consent. Claims must be made in writing, accompanied by evidence of the Principals non-performance.

What is an example of a guarantee clause?

The Guarantor hereby fully and unconditionally guarantees to each Holder the due and punctual payment of the Guarantee Payments, as and to the extent applicable (without duplication of amounts theretofore paid by the Issuer) when and as the same shall become due and payable, ing to the terms of the Preferred

What is an example of a performance based contract?

For example, a utility company could enter into a performance-based contract for the purchase of maintenance services for a turbine. The utility company would establish a technically specific scope of work with specific performance metrics.

What is the completion guarantee clause?

This guarantee provides the lender with additional security, assuring that the project will be finished even if unforeseen challenges arise, such as cost overruns or contractor issues. In construction financing, lenders often require a completion guarantee to reduce the risk of an incomplete project.

GUARANTY OF PERFORMANCE AND COMPLETION Sample Clauses 2025

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