Calling on Security. The Company may call upon the security posted by the BGS-RSCP Supplier if the BGS-RSCP Supplier fails to pay amounts due to the Company pursuant to this Agreement or any other agreement(s) between the Company and the BGS-RSCP Supplier for the provision of BGS Supply after all of the following events occur:
(a) Written Notice of Default is provided to the BGS-RSCP Supplier; and
(b) Any applicable cure period ends. The foregoing notwithstanding, the security posted by the BGS-RSCP Supplier shall become due automatically without prior notice or right of cure in the case of any Event of Default arising under subsections (i), (ii), (iii), (iv), (v), (vi), (vii) and (viii) of Section 5.1 of this Agreement.
Calling on Security. The Company may call upon the security posted by the DS Supplier if the DS Supplier fails to pay amounts due to the Company pursuant to this Agreement or any other agreement(s) between the Company and the DS Supplier for the provision of DS Supply after all of the following events occur:
(a) Written Notice of Default is provided to the DS Supplier; and
(b) Any applicable cure period associated with the written Notice of Default ends. The foregoing notwithstanding, the security posted by the DS Supplier shall become due automatically without prior notice or right of cure in the case of any Event of Default arising under subsections (i), (ii), (iii), (iv), (v), (vi), (vii) and (viii) of Section 5.1 of this Agreement.
Calling on Security. One or more of the Companies may call upon the Security Instrument posted by the BGS-FP Supplier if the BGS-FP Supplier fails to pay amounts due to such Company or Companies pursuant to this Agreement or any other agreement(s) between such Company or Companies and the BGS-FP Supplier for the provision of BGS Supply after all of the following events occur:
(i) Written Notice of Default is provided to the BGS-FP Supplier; and
(ii) Any applicable cure period ends. The foregoing notwithstanding, the Security Instrument posted by the BGS-FP Supplier shall become due automatically, and may be called upon by one or more of the Companies, without prior notice or right of cure in the case of any Event of Default arising under Section 5.1 (i), (ii), (iii), (iv), (v), (vi), (vii), (viii) or (ix).
Calling on Security. The Companies may call upon the Security Instrument posted by the BGS-FP Supplier if the BGS-FP Supplier fails to pay amounts due to the Companies pursuant to this Agreement or any other agreement(s) between a Company and the BGS-FP Supplier for the provision of BGS Supply after all of the following events occur:
(i) Written Notice of Default is provided to the BGS-FP Supplier; and
(ii) Any applicable cure period ends. The foregoing notwithstanding, the Security Instrument posted by the BGS-FP Supplier shall become due automatically, and may be called upon by the Companies, without prior notice or right of cure in the case of any Event of Default arising under Section 5.1 (i), (ii), (iii), (iv), (v), (vi), Error! Reference source not found., (vii) or (viii).
Calling on Security. In the event that (i) an Event of Default with respect to Seller has occurred and is continuing or (ii) Duke Carolinas has issued a termination notice as a result of an Event of Default with respect to Seller, Duke Carolinas may exercise any one or more of the rights and remedies provided under this Agreement or as otherwise available under applicable law. Without limiting the foregoing, Duke Carolinas may, in such event, in its sole discretion and in addition to any of the remedies set forth in Section 8.2.1 above, draw on any outstanding Letter of Credit issued for its benefit. Seller shall restore any Letter of Credit to its original state or amount within thirty (30) days of the exercise of any right or remedy against or with respect to such Letter of Credit by Duke Carolinas; provided, however, that the foregoing shall not apply in the event that Duke Carolinas exercises any such right or remedy and, in addition thereto, terminates this Agreement.
Calling on Security. The COMPANY may call upon the Security Instrument posted by the Seller (i) if the Seller fails to pay amounts due to the COMPANY pursuant to this Agreement after written notice of default is provided to the Seller and any applicable cure period ends; and (ii) with respect to the Development Security, to satisfy COMPANY’s rights to such portions of the Development Security specified in Section 6.1. The foregoing notwithstanding, the Security Instrument posted by the Seller shall become due automatically, and may be called upon by the COMPANY, without prior notice or right of cure in the case of any Event of Default involving the Seller arising under Section 9.1.1.
Calling on Security. The Company may call upon the Security Instrument posted by the Seller (i) if the Seller fails to pay amounts due to the Company pursuant to this Agreement or any other agreement(s) between the Company and the Seller for the provision of Energy and AECs after written notice of default is provided to the Seller and any applicable cure period ends; and (ii) with respect to the Development Security, to satisfy PECO’s rights to such portions of the Development Security specified in Section 6.1. The foregoing notwithstanding, the Security Instrument posted by the Seller shall become due automatically, and may be called upon by the Company, without prior notice or right of cure in the case of any Event of Default involving the Seller arising under Section 9.1.1.
Calling on Security. (a) Prior to making a Call on the Security, the County shall issue a notice of default, as provided in Article XIII, to the Developer specifying the nature of the default, the cure period, as well as an estimate of the amount that may be called upon the Security if the Developer fails to correct the alleged default.
(b) If, during the cure period, the Developer provides to the County written notice of Developer’s dispute that any default exists (the “Default Dispute”) no call may be made on the Security until such time as the Board of Supervisors has considered the facts and circumstances of the Default Dispute by hearing both parties, and shall determine whether Developer is in default of this Contract. Nothing contained herein shall be construed as waiving or limiting the County's right to proceed in enforcing its rights and remedies afforded to it by reason of and event of the default, including calling upon the Security.
(c) If Developer has not (i) cured such default, and (ii) the BOS determines Developer to be in default of this Contract, the County shall be entitled to Call on the Security to perform those actions addressed in the notice of default.
(d) The Security, if a Letter of Credit, shall provide that the physical presence of a representative of the County shall not be required for demand upon the same and that the venue relative to any litigation regarding same shall be DeSoto County, Mississippi.
Calling on Security. (a) Prior to making a call on the Security, the County shall issue a notice to the Developer specifying the nature of Developer’s failure to perform any of the obligations of this Agreement, or the Stormwater Ordinance, as well as an estimate of the amount that may be called upon the Security if the Developer fails to correct the alleged default within the specified cure period, which cure period shall be not less than 30 days, or such time period to cure as is proscribed by the Stormwater Ordinance, from the date of mailing of such notice.
(b) Nothing contained herein shall be construed as waiving or limiting either party’s rights to appeal the decision of the County Engineer to the Board of Supervisors, as applicable.
(c) If Developer has not (i) cured the default within the cure period set forth in the default notice, or such amount of time as is reasonably necessary to cure or remedy such default, taking into account unavoidable delays to perform the work required, and (ii) the County Engineer has determined the Developer remains in default of the terms of this Agreement, and (iii) Developer has not appealed such determination, the County shall be entitled to call on the Security posted to secure the performance of those actions addressed in the notice of default.
(d) The Security, if a Letter of Credit, shall provide that the physical presence of a representative of the County shall not be required for demand upon the same and that the venue relative to any litigation regarding same shall be DeSoto County, Mississippi.
Calling on Security. 31 12.10 Interest on Cash Held by Company 31 12.11 No Endorsement of Seller. 31 12.12 Multiple Supply Agreements. 31
