Form of Deposit. On or before the date specified by the Director, Tenant will deliver to Director a security deposit (the “Deposit”) in the Deposit Amount. Such Deposit shall be in the form of
(a) a surety bond payable to City, naming City as obligee, in the form attached as Exhibit C-1, and otherwise in form satisfactory to City’s City Attorney, and issued by a surety company satisfactory to Director, or a (b) letter of credit naming City as beneficiary, in the form attached as Exhibit C-2, and otherwise in form satisfactory to City’s City Attorney, issued by a bank satisfactory to Director. Notwithstanding the foregoing, as may be provided in the Airport Commission Policy on Concession Deposits (Resolution No. 04-0153, August 3, 2004) as the same may be amended from time to time, Tenant shall be permitted to submit as the Deposit alternative forms of deposit as specified therein. Such Deposit shall be renewed annually and increased annually such that at all times, the Deposit is equal to one-half (½) the then current Minimum Annual Guarantee, all at Tenant’s cost. Such Deposit shall be kept in full force and effect during the Term to ensure the faithful performance by Tenant of all covenants, terms, and conditions of this Lease, including payment of Rent. The sum designated as the “Deposit” is and will remain the sole and separate property of City until actually repaid to Tenant (or at City’s option, the last assignee (if any) of Tenant’s interest hereunder), said sum not being earned by Tenant until all provisions precedent for its payment to Tenant have been fulfilled. For Deposits in the form of a bond or letter of credit, Tenant shall cause the surety company or bank issuing such bond or letter of credit to give Director notice in writing by registered mail at least forty-five (45) days prior to the expiration date of such bond or letter of credit of its intention not to renew said bond or letter of credit.
Form of Deposit. On or before the date specified by the Director, Tenant will deliver to Director a security deposit (the “Deposit”) in the Deposit Amount. Such Deposit shall be in the form of (a) a surety bond payable to City, naming City as obligee, in the form attached as Exhibit C-1, and otherwise in form satisfactory to City’s City Attorney, and issued by a surety company satisfactory to Director, or a
Form of Deposit. On or before the date specified by the Director, Xxxxxx will deliver to Director, at City’s Deposit/Annual Report Notice Address, a security deposit (the “Deposit”) in the Deposit Amount. Such Deposit shall be in the form of (a) a surety bond payable to City, naming City as obligee, in the form attached as Exhibit C-1, and otherwise in form satisfactory to City’s City Attorney, and issued by a surety company satisfactory to Director, or a (b) letter of credit naming City as beneficiary, in the form attached as Exhibit C-2, and otherwise in form satisfactory to City’s City Attorney, issued by a bank satisfactory to Director. Notwithstanding the foregoing, as may be provided in the Airport Commission Policy on Concession Deposits (Resolution No. 04-0153, August 3, 2004) as the same may be amended from time to time, Tenant shall be permitted to submit as the Deposit alternative forms of deposit as specified therein. Such Deposit shall be kept in full force and effect during the Term to ensure the faithful performance by Tenant of all covenants, terms, and conditions of this Lease, including payment of Rent. The sum designated as the “Deposit” is and will remain the sole and separate property of City until actually repaid to Tenant (or at City’s option, the last assignee (if any) of Xxxxxx’s interest hereunder), said sum not being earned by Tenant until all provision’s precedent for its payment to Tenant have been fulfilled. For Deposits in the form of a bond or letter of credit, Tenant shall cause the surety company or bank issuing such bond or letter of credit to give Director notice in writing by registered mail at least forty-five (45) days prior to the expiration date of such bond or letter of credit of its intention not to xxxxx said bond or letter of credit.
Form of Deposit. 92 16.1.3 Interest............................................ 93 16.1.4 If Bond is Posted................................... 94 16.2
Form of Deposit. Assurance of Payment. Unless otherwise agreed by the Parties, the deposit or assurance of payment shall, at CenturyLink’s option, consist of (a) a cash security deposit in U.S. dollars held by CenturyLink, or (b) an unconditional, irrevocable standby letter of credit naming CenturyLink as the beneficiary thereof and otherwise in form and substance satisfactory to CenturyLink from a financial institution acceptable to CenturyLink.
Form of Deposit. Any security deposit provided pursuant to this Section shall be in the form of an irrevocable letter of credit, bond, cash deposit or other form of security acceptable to the Parties. Any cash deposit provided pursuant to this Agreement shall accrue simple interest at the rate of six percent (6%) annually and shall be payable to when the security deposit is returned.
Form of Deposit. The good faith deposit, at the --------------- option of Developer, may be in the form of (i) cash; or (ii) cashier's or certified check; or
Form of Deposit. The good faith deposit, at the --------------- option of Developer, may be in the form of (i) cash; or (ii) cashier's or certified check; or (iii) negotiable certificate or certificates of deposit issued by a federal or state bank or savings and loan association; or (iv) an irrevocable letter of credit in favor of Landlord issued by an established bank or other institution satisfactory to Landlord; or (v) a bond in a form and with a surety reasonably satisfactory to Landlord providing for payment to Landlord of amounts that may become payable to Landlord under this Lease from time to time; or (vi) such other form of 97 security or deposit as may be mutually acceptable. Developer may change the form of the deposit from time to time, at its option, to any other of the permitted forms of deposit. The deposit, if in cash or certified or cashier's check shall be deposited in an interest bearing account of Landlord in a bank, savings and loan association or trust company selected by Developer and approved by Landlord, which approval shall not unreasonably be withheld. Developer shall have the right to specify the type of account in which such funds are, from time to time, to be deposited. Provided that no default has occurred during the term of the Lease which has resulted in a forfeiture by Developer of all or a part of the good faith or security deposit, such deposit, or any portion thereof which has not been forfeited, shall be returned to Developer upon expiration of this Lease.
Form of Deposit. Within five (5) days after the Reference Date, Permittee will deliver to Director a security deposit (the “Deposit”) in the Deposit Amount. The Deposit shall be in the form of
(a) certificates of deposit which are redeemable at a bank in the San Francisco Bay Area; (b) certified checks, certified by a bank or other financial institution protected by FDIC; (c) cashier’s checks from a bank or other financial institution protected by FDIC; and/or (d) money orders. The Deposit Amount shall be equal to nine (9) months of Permit Fees.
Form of Deposit. CONCESSIONAIRE’S Deposit shall be in the following form: A cashier's check drawn on any bank that is a member of the Los Angeles Clearing House Association, which xxxxxxx's check is payable to the order of the City of Los Angeles.
