Exposure Protection Sample Clauses
Exposure Protection. (a) Upon commencement of the Agreement, Member or Servicer may retain and hold all funds paid to Member by a Card Association on account of Sales Records submitted by Carrier to Servicer or Member as Reserved Funds until the amount *****Confidential portions of the material have been omitted and filed separately with the Securities and Exchange Commission. (U.S. Transactions) 2 of the Aggregate Protection equals the Required Amount, as determined in accordance with Sections 3 and 8 of this Exposure Protection Schedule. In lieu of retaining Reserved Funds, or in addition to retaining and holding Reserved Funds, Member or Servicer, in its sole discretion, may, based upon the Net Activity report delivered under Section 6.4 of the MTOS or other relevant documentary evidence, demand that Carrier, and Carrier shall upon such demand, remit to Servicer within two (2) Business Days of Servicer’s demand immediately available funds to hold as the Deposit in an amount that when added to amounts (if any) retained and held by or on behalf of Member or Servicer as the Deposit causes the amount of the Aggregate Protection to equal the Required Amount. The Deposit amount shall be subject to adjustment as provided in Section 3 of this Exposure Protection Schedule. Member, Servicer or any Secured Party will hold the Deposit as security for the due and punctual payment of and performance by Carrier of the Obligations.
(b) To the extent Carrier has or may at any time acquire any rights in Carrier’s Rights, Carrier grants to each of Servicer, Member, and all other Secured Parties a Lien on the Deposit and all other Carrier’s Rights to secure the payment and performance by Carrier of all Obligations. Each Secured Party shall act as agent for all Secured Parties to the extent that any such Secured Party controls or possesses the Deposit or any collateral hereunder or is named as Secured Party on any filing, registration or recording. Carrier hereby acknowledges that notwithstanding the foregoing grant of a Lien, Reserved Funds represent only a future right to payment owed to Carrier under the Agreement, payment of which is subject to the terms and conditions of the Agreement and to Carrier’s complete and irrevocable fulfillment of its obligations and duties under the Agreement and do not constitute funds of Carrier.
(c) Carrier further agrees that during the term of the Agreement, Carrier shall not grant, or attempt to grant, to any other Person or suffer to exist in favor of any...
Exposure Protection. (a) Upon commencement of the Agreement, Member or Servicer may retain and hold all funds paid to Member by a Card Association on account of Sales Records submitted by Carrier to Servicer or Member as Reserved Funds until the amount of the Aggregate Protection equals the Required Amount, as determined in accordance with Sections 3 and 8 of this Exposure Protection Schedule. In lieu of retaining Reserved Funds, or in addition to retaining and holding Reserved Funds, Member or Servicer, in its sole discretion, may demand that Carrier, and Carrier shall upon such demand, remit to Servicer within five (5) business days (“Business Days”) of Servicer’s demand immediately available funds to hold as the Deposit in an amount that when added to amounts (if any) retained and held by or on behalf of Member or Servicer as the Deposit causes the amount of the Aggregate Protection to equal the Required Amount. The Deposit amount shall be subject to adjustment as provided in Section 3 of this Exposure Protection Schedule. Member, Servicer or any Secured Party will hold the Deposit as security for the due and punctual payment of and performance by Carrier of the Obligations. Notwithstanding anything to the contrary, in no event shall Member and/or Servicer retain and hold funds under this Agreement where the amount of the Aggregate Protection exceeds the Required Amount. ***** Confidential portions of the material have been omitted and filed separately with the Securities and Exchange Commission.
(b) To the extent Carrier has or may at any time acquire any rights in Carrier’s Rights, Carrier grants to each of Servicer, Member, and all other Secured Parties a Lien on the Deposit and all other Carrier’s Rights to secure the payment and performance by Carrier of all Obligations. Each Secured Party shall act as agent for all Secured Parties to the extent that any such Secured Party controls or possesses the Deposit or any collateral hereunder or is named as Secured Party on any filing, registration or recording. Carrier hereby acknowledges that notwithstanding the foregoing grant of a Lien, Reserved Funds represent only a future right to payment owed to Carrier under the Agreement, payment of which is subject to the terms and conditions of the Agreement and to Carrier’s complete and irrevocable fulfillment of its obligations and duties under the Agreement and do not constitute funds of Carrier.
(c) Carrier further agrees that during the term of the Agreement, Carrier shall not ...
Exposure Protection. Member and Servicer may retain and hold all funds paid to it by a Card Association on account of Sales Records submitted by Carrier to Member or Servicer as Reserved Funds in accordance with the Exposure Protection Schedule attached hereto. Each of the terms contained in the Exposure Protection Schedule are incorporated herein by reference.
Exposure Protection. The definition of “Required Amount” in the Exposure Protection Schedule attached to each Processing Agreement is amended and restated in its entirety to read as follows:
Exposure Protection. Exposure to the yard shall be protected in accordance with the following requirements:
1. Storage areas shall be separated from plant operations and other structures so that fire exposure into the product storage is minimized.
(A) Minimum separation shall be by means of a clear space permanently available for fire-fighting operations.
(B) The width of the clear space shall be based on the severity of exposure, which varies with the area, height, occupancy, construction, and protection of the exposing structure and the type of stacking and height of adjacent stacks.
2. Providing adequate clear space that is carefully kept free of combustible vegetation shall minimize forest, brush, and grass fire exposure.
(A) Clear space of a width at least equivalent to the driveway shall be provided for grass exposures, and clear space of a width not less than 30 m (100 ft) shall be provided between on-site buildings and adjacent wooded areas.
(B) In forested areas, a wider clear space shall be provided.
3. The intent of these provisions shall be to provide minimum fire protection requirements to minimize the fire hazard in large site storage areas containing lumber, wood panels, landscape and yard debris, and other similar wood products not intended for retail or wholesale distribution at the site.
4. The fire hazard potential inherent in forest product storage operations (logs, tree products, mulch, or other vegetative products) with large quantities of combustible material shall be controlled by a positive fire prevention program under the direct supervision of site manager that shall include the following:
(1) Selection, design, and arrangement of storage product areas and materials-handling equipment based on sound fire prevention and protection principles
(2) Means for early fire detection, transmission of alarm, and fire extinguishment, i.e., implementation of applicable parts of the Fire Fighting Agreement.
(3) Driveways to separate large stacks and provide access for effective fire-fighting operations
(4) Separation of storage from other plant operations and other exposing properties
(5) Effective fire prevention maintenance program, including regular site inspections by trained personnel
Exposure Protection. Provider may retain and hold all funds paid to it by a Card Network on account of Sales Records submitted by Company to Provider as Reserved Funds in accordance with the Exposure Protection Schedule attached to the Agreement as Schedule D. Exposure protection will be tracked on Provider’s TRIPS system or any replacement thereof at the commencement of processing.
Exposure Protection. (a) Upon commencement of the Agreement, Member or Servicer may retain and hold all funds paid to Member by a Card Association on account of Sales Records submitted by Carrier to Servicer or Member as Reserved Funds until the amount of the Aggregate Protection equals the Required Amount, as determined in accordance with Sections 3 and 8 of this Exposure Protection Schedule. In lieu of retaining Reserved Funds, or in addition to retaining and holding Reserved Funds, Member or Servicer, in its sole discretion, may, based upon the Net Activity report delivered under Section 6.4 of the MTOS or other relevant documentary evidence, demand that Carrier, and Carrier shall upon such demand, remit to Servicer within two (2) Business Days of Servicer's demand immediately available funds to hold as the Deposit in an amount that when added to amounts (if any) retained and held by or on behalf of Member or Servicer as the Deposit causes the amount of the Aggregate Protection to equal the Required Amount. The Deposit amount shall be (U.S. Transactions) subject to adjustment as provided in Section 3 of this Exposure Protection Schedule. Member, Servicer or any Secured Party will hold the Deposit as security for the due and punctual payment of and performance by Carrier of the Obligations.
(b) To the extent Carrier has or may at any time acquire any rights in Carrier's Rights, Carrier grants to each of Servicer, Member, and all other Secured Parties a Lien on the Deposit and all other Carrier's Rights to secure the payment and performance by ▇▇▇▇▇▇▇ of all Obligations. Each Secured Party shall act as agent for all Secured Parties to the extent that any such Secured Party controls or possesses the Deposit or any collateral hereunder or is named as Secured Party on any filing, registration or recording. ▇▇▇▇▇▇▇ hereby acknowledges that notwithstanding the foregoing grant of a Lien, Reserved Funds represent only a future right to payment owed to Carrier under the Agreement, payment of which is subject to the terms and conditions of the Agreement and to Carrier's complete and irrevocable fulfillment of its obligations and duties under the Agreement and do not constitute funds of Carrier.
(c) ▇▇▇▇▇▇▇ further agrees that during the term of the Agreement, Carrier shall not grant, or attempt to grant, to any other Person or suffer to exist in favor of any other Person any Lien or other interest in Carrier's Rights (if any) or in any proceeds thereof unless any such Lien or other in...
Exposure Protection. Exposure to the yard shall be protected in accordance with the following requirements:
1. Storage areas shall be separated from plant operations and other structures so that fire exposure into the product storage is minimized.
(A) Minimum separation shall be by means of a clear space permanently available for fire-fighting operations.
(B) The width of the clear space shall be based on the severity of exposure, which varies with the area, height, occupancy, construction, and protection of the exposing structure and the type of stacking and height of adjacent stacks.
2. Providing adequate clear space that is carefully kept free of combustible vegetation shall minimize forest, brush, and grass fire exposure.
(A) Clear space of a width at least equivalent to the driveway shall be provided for grass exposures, and clear space of a width not less than 30 m (100 ft) shall be provided between on-site buildings and adjacent wooded areas.
(B) In forested areas, a wider clear space shall be provided.
3. The intent of these provisions shall be to provide minimum fire protection requirements to minimize the fire hazard in large site storage areas containing lumber, wood panels, landscape and yard debris, and other similar wood products not intended for retail or wholesale distribution at the site.
4. The fire hazard potential inherent in forest product storage operations (logs, tree products, mulch, or other vegetative products) with large quantities of combustible material shall be controlled by a positive fire prevention program under the direct supervision of site manager that shall include the following:
(1) Selection, design, and arrangement of storage product areas and materials-handling equipment based on sound fire prevention and protection principles
(2) Means for early fire detection, transmission of alarm, and fire extinguishment, i.e., implementation of applicable parts of the Fire Fighting Agreement.
(3) Driveways to separate large stacks and provide access for effective fire-fighting operations
(4) Separation of storage from other plant operations and other exposing properties
(5) Effective fire prevention maintenance program, including regular site inspections by trained personnel