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(b) within 14 Days following Effective Date, a
performance bond in an amount equal to the then
effective Required Performance Bond Amount and in
the form set out in Exhibit E - Performance Bond,
issued by an Acceptable Bank (the "performance
Bond"); a Financial Bond in an amount equal to the
Required Financial Bond and in the form as set out in
Exhibit E - Financial Bond, issued by an Acceptable
Bank (the "Financial Bond")2
(b) If the Advance Payment Bond or the Performance
Bond or the Financial Bond in force at any time will,
according to its terms, expire before the applicable
date specified in Section 9.2(a), then at any time
within the 30 Days prior to such expiry Company may
draw down the full value of the Advance Payment
Bond or the Performance Bond (as applicable) and
retain the proceeds so drawn until the earlier to
occur of (i) 10 Business Days following the provision
of a replacement Advance Payment Bond or
Performance Bond in accordance with this Article 9
and (ii) the expiration of the applicable period
specified in Section 9.2(a), and may apply all or part
of the proceeds so retained in any circumstances
where it would otherwise have been entitled to draw
upon the Advance Payment Bond or the Performance
Bond under this Agreement.
(c) If at any time prior to the expiration of the period
specified in Section 9.2(a) the bank or financial
institution issuing the Advance Payment Bond or the
Performance Bond or Financial Bond ceases to have
an Acceptable Credit Rating, Contractor shall cause
a new Advance Payment Bond or Performance Bond
or Financial Bond to be issued to the Company by an
Acceptable Bank in accordance with the requirements
of this Article 9 within 14 Days following receipt of
Notice from Company, and upon delivery of the
replacement Advance Payment Bond or Performance
Bond or Financial Bind Company shall return the
previous Advance Payment Bond Performance Bond
or Financial Bond to Contactor.
(d) Within 20 Business Days following any increase in
the Required Performance Bond Amount or Financial
Bond, Contractor shall cause the amount of the
Performance Bond or Financial Bond to be increased
to the Required Performance Bond Amount or
Financial Bond.
(e) Within 20 Business Days following any draw on the
Performance Bond or the Financial Bond by
Company in accordance with this Agreement,
Contractor shall cause the amount of the
Performance Bond or Financial Bond to be restored
to the then-effective Required Performance Bond
Amount or the required Financial Bond amount.