Failure to Maintain Security Clause Samples

Failure to Maintain Security. Failure to maintain security that results in certain data release will subject the Contractor to the administrative sanctions for failure to comply with section 501.171, F.S., together with any costs to the Department of such breach of security caused by the Contractor. If State Data will reside in the Contractor’s system, the Department may conduct, or request the Contractor conduct at the Contractor’s expense, an annual network penetration test or security audit of the Contractor’s system(s) on which State Data resides. If the Contract is less than a year in duration, the right to conduct the network penetration test or security audit of the Contractor’s system(s) on which State Data resides can be exercised at any time.

Failure to Maintain Security. The Lender shall not have or shall cease to have a valid and perfected first priority Lien in any Collateral or any Loan Party shall contest the validity or perfection of any Lien in any Collateral purported to be covered by the Security Documents.

Failure to Maintain Security. If Borrower during the progress of construction of the Improvements neglects to maintain such security for the protection of the Improvements, as Lender may reasonably deem appropriate. For the purposes of this section, Lender deems it reasonably appropriate to expect that any construction trailers on the site be kept locked and secure when not occupied, that all materials and supplies brought to the construction site that can be secured are in fact secured, and that unless ready to be incorporated into the office building or a unit, all materials and supplies be stored off-site and not otherwise brought or delivered to the construction site.

Failure to Maintain Security. The Noteholders shall cease to have a first priority perfected Lien with respect to the Collateral or any material portion thereof.