Option for Escrow or Securities in Lieu of Retention. Pursuant to the requirements of Public Contract Code Section 22300, upon DB Entity's request within ten (10) days of execution of this Agreement, Owner will make payment to DB Entity of any earned retention funds withheld from payments under this Agreement if DB Entity deposits with Owner or in escrow with a California or federally chartered bank acceptable to Owner, securities eligible for the investment pursuant to Government Code Section 16430 or bank or savings and loan certificates of deposit.
Option for Escrow or Securities in Lieu of Retention. Pursuant to the requirements of Public Contract Code Section 22300, upon Provider's request, District will make payment to Provider of any earned retention funds withheld from payments under this Agreement if Provider deposits with the District or in escrow with a California or federally chartered bank acceptable to District, securities eligible for the investment pursuant to Government Code Section 16430 or bank or savings and loan certificates of deposit, upon the following conditions:
