Common use of Authority to draw upon security Clause in Contracts

Authority to draw upon security. The Developer specifically authorizes the Treasurer of the Township to draw upon the security provided pursuant this Agreement and to use such monies to pay for any costs or expenses incurred by the Township including without limitation costs or expenses arising from damages or deficiencies caused by the Developer or the Developer’s contractors or agents, successors or assigns, in connection with or relating to the development governed by this Agreement and/or to satisfy any financial obligation or other obligation of the Developer to the Township pursuant to the terms of this Agreement when due.

Authority to draw upon security. The Developer specifically authorizes the Treasurer of the Township Town to draw upon the security Security provided pursuant this Agreement and to use such monies to pay for any costs or expenses incurred by the Township Town including without limitation costs or expenses arising from damages or deficiencies caused by the Developer or the Developer’s contractors or agents, successors or assigns, in connection with or relating to the development Development governed by this Agreement and/or to satisfy any financial obligation or other obligation of the Developer to the Township Town pursuant to the terms of this Agreement when due.

Authority to draw upon security. The Developer specifically authorizes the Treasurer of the Township to draw upon the security provided pursuant this Agreement to Article 9.1 and to use such monies to pay for any costs or expenses incurred by the Township including without limitation costs or expenses arising from damages or deficiencies caused by the Developer or the Developer’s contractors or agents, successors or assigns, in connection with or relating to the development governed by this Agreement and/or and /or to satisfy any financial obligation or other obligation of the Developer to the Township pursuant to the terms of this Agreement when due.