Common use of Exercise of Security Clause in Contracts

Exercise of Security. The Security Deposit will be held by QR Network as security for the performance of the obligations of the Operator under this Agreement and may be called upon by QR Network in any circumstances where QR Network suffers direct loss or damage as a result of default by the Operator under this Agreement and is entitled to be compensated for such loss or damage under this Agreement.

Exercise of Security. The Security Deposit will be held by QR Network as security for the performance of the obligations of the Operator Access Holder under this Agreement and may be called upon by QR Network in any circumstances where QR Network suffers direct loss or damage as a result of default by the Operator Access Holder under this Agreement and is entitled to be compensated for such loss or damage under this Agreement.

Exercise of Security. The Security Deposit will be held by QR Network as security for the performance of the obligations of the Operator under this Agreement and the Moranbah North Access Agreement and may be called upon by QR Network in any circumstances where QR Network suffers direct loss or damage as a result of default by the Operator under this Agreement or the Moranbah North Access Agreement and is entitled to be compensated for such loss or damage under this Agreement or the Moranbah North Access Agreement.

Exercise of Security. The Security Deposit will be held by QR Network as security for the performance of the obligations of the Operator under this Agreement and may be called upon by QR Network in any circumstances where QR Network suffers direct loss or damage as a result of default by the Operator under this Agreement and is entitled to be compensated for such loss or damage under this Agreement.