Common use of Guarantees and Other Security Clause in Contracts

Guarantees and Other Security. 15.2.1 Developer delivered to TxDOT security in the amount of $10 million in the form of [insert description of security provided in accordance with Proposal], in accordance with the terms of the RFP. At all times during the term of this Agreement, Developer shall maintain such security in full force and effect (or replacement security meeting the requirements of Section 15.2.3), provided that the amount of such security shall be subject to adjustment in accordance with Sections 15.2.2 and 15.2.3.