Handback Requirements Letters of Credit Sample Clauses

Handback Requirements Letters of Credit. 8.11.5.1 In lieu of establishing the Handback Requirements Reserve, Developer may deliver to TxDOT one or more letters of credit (each, a “Handback Requirements Letter of Credit”), on the terms and conditions set forth in this Section 8.11.5
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Handback Requirements Letters of Credit. (a) In lieu of establishing the Handback Requirements Reserve, Developer may deliver to TxDOT one or more letters of credit (each, a “Handback Requirements Letter of Credit”), on the terms and conditions set forth in this Section 20.2.6 and Section 26.3. If the Handback Requirements Reserve has been previously established, Developer at any time thereafter may substitute one or more Handback Requirements Letters of Credit for all or any portion of the amounts required to be on deposit in the Handback Requirements Reserve, on the terms and conditions set forth in this Section 20.2.6 and Section 26.3. Promptly after receipt of the required substitute Handback Requirements Letter of Credit, TxDOT shall authorize the release to Developer of amounts in the Handback Requirements Reserve equal to the face amount of the substitute Handback Requirements Letter of Credit, such released funds to be applied as set forth in Section 14.4. If the face amount of any Handback Requirements Letter of Credit falls below the total amount required to be funded to the Handback Requirements Reserve prior to expiry of the Handback Requirements Letter of Credit, Developer shall be obligated to pay, when due, the shortfall into the Handback Requirements Reserve. Alternately, Developer may deliver a Handback Requirements Letter of Credit with a face amount equal to at least the total amount required to be funded to the Handback Requirements Reserve during the period up to the expiry of the Handback Requirements Letter of Credit, or may deliver additional Handback Requirements Letters of Credit or cause the existing Handback Requirements Letter of Credit to be amended to cover the shortfall before deposits of the shortfall to the Handback Requirements Reserve are due.
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Handback Requirements Letters of Credit. 8.7.5.1 In lieu of establishing the Handback Requirements Reserve Account, Developer may deliver to LAWA one or more letters of credit (each, a “Handback Requirements Letter of Credit”), on the terms and conditions set forth in this Section 8.7.5 and Section 10.3 (Letters of Credit). The Handback Requirements Letter of Credit shall name City as the sole beneficiary and shall not provide for any other dual or multiple beneficiaries. Developer shall execute, and shall cause the financial institution issuing the Handback Requirements Letter of Credit to execute, such documents as may be required to establish and perfect City’s interest in the Handback Requirements Letter of Credit under the Uniform Commercial Code as adopted in the State, which interest shall be a first priority security interest as provided in Section 8.7.1.1. If the Handback Requirements Reserve Account has been previously established, Developer at any time thereafter may substitute one or more Handback Requirements Letters of Credit for all or any portion of the amounts required to be on deposit in the Handback Requirements Reserve Account, on the terms and conditions set forth in this Section 8.7.5.
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Handback Requirements Letters of Credit 
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Related to Handback Requirements Letters of Credit

  • Letters of Credit (a) The Letter of Credit Commitment.

  • CREDIT AND COLLATERAL REQUIREMENTS The applicable credit and collateral requirements are specified on the Cover Sheet.

  • Statement of Commitment The Institutions promote teaching, scholarship and research and the free and critical discussion of ideas. Unions and employers are committed to providing a working and learning environment that allows for full and free participation of all members of the institutional community. Harassment undermines these objectives and violates the fundamental rights, personal dignity and integrity of individuals or groups of individuals. Harassment is a serious offence that may be cause for disciplinary sanctions including, where appropriate, dismissal or expulsion. The Institutions have a responsibility under the BC's Human Rights Code to prevent harassment and to provide procedures to handle complaints, to resolve problems and to remedy situations where harassment occurs. The employer will offer educational and training programs designed to prevent harassment and to support the administration of the institutional policies and to ensure that all members of the institutional community are aware of their responsibility with respect to the policy. The Unions and Employers agree that attendance is required and will take place during compensated work time.

  • Financial Commitment 4.1. The cost associated with the representative season $850 MUST be paid with the signing of this agreement.

  • OFFSET CREDIT/COOPERATION This Contract has been entered into in direct support of LOCKHEED XXXXXX'x international offset programs. All offset benefit credits resulting from this Contract are the sole property of LOCKHEED XXXXXX to be applied to the offset program of its choice. SELLER shall assist LOCKHEED XXXXXX in securing appropriate offset credits from the respective country government authorities.

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