Examples of Initial Security in a sentence
PROVIDED THAT this right of withdrawal may only be exercised if, at the time of giving the said notice of withdrawal the owners of the vessel have still not provided the Initial Security or any alternative security which the owners of the vessel and the Contractor may agree will be sufficient.
Initial Security Deposit shall be refunded to the Contractor on the Engineer-in-charge certifying in writing that the work has been completed as per condition 31 hereof etc.
If the owners of the vessel do not provide the Initial Security within the said 2 working days, the Contractor, at his option, and on giving notice to the owners of the vessel, shall be entitled to withdraw from all the provisions of the SCOPIC clause and revert to his rights under the Main Agreement including Article 14 which shall apply as if the SCOPIC clause had not existed.
B-7 The Business Customer shall provide to the Company an Initial Security Deposit in cash and maintain it at an amount which is equivalent to two (2) times the monthly charges (“Security Deposit”).
Initial Security Agreement User agrees to the stated required security criteria in order to access and utilize the BHCS systems.