Common use of Maintenance of Satisfactory Security Clause in Contracts

Maintenance of Satisfactory Security. ‌ It is of the essence of this Agreement and all contracts of engagement and a condition precedent to the engagement of the Artist that the Engager shall file and maintain a security satisfactory with Equity which shall not exceed one (1) week's contractual fee for the total number of Artists to be engaged at any one time during the season, subject to Clause 13:15. Where Equity can demonstrate where an Engager is substantially or repeatedly in arrears with payment to or on behalf of its members including remittances to Equity as stipulated in this Agreement, Equity shall have the right to increase the amount of security required. Upon receiving a written request from Equity, the Engager shall supply Equity with sufficient information to confirm what will constitute sufficient security for each Season.

Maintenance of Satisfactory Security. ‌ It is of the essence of this Agreement and all contracts of engagement and a condition precedent to the engagement of the Artist that the Engager shall file and maintain a security satisfactory with Equity which shall not exceed one (1) week's contractual fee for the total number of Artists to be engaged at any one time during the season, subject to Clause 13:15. Where Equity can demonstrate where an Engager is substantially or repeatedly in arrears with payment to or on behalf of its members including remittances to Equity as stipulated in this Agreement, Equity shall have the right to increase the amount of security required. Upon receiving a written request from Equity, the Engager shall supply Equity with sufficient information to confirm what will constitute sufficient security for each Season.