PAYMENTS AND SECURITY Sample Clauses

PAYMENTS AND SECURITY. Price and Payment The Maintenance Price is paid in equal monthly installments, payable in arrears pursuant to Draw Requests submitted on the first day of each month of such Maintenance Term year. The annual Maintenance Price (MP) will be escalated or reduced based on changes in the Engineering News Record Construction Cost Index (ENR CCI), commencing on the Initial Maintenance Services Commencement Date and continuing annually thereafter. Retainage The Maintenance Contractor shall provide a retainage bond in the amount of 10% of the Maintenance Price, to be used as a guaranty for the protection of any claimants and TxDOT for overpayments, Liquidated Damages, and other deductions or damages owed by the Maintenance Contractor in connection with the CMA. Payment Obligations TxDOT’s obligations to make any payments are expressly conditioned upon obtaining project financing funds, project operations funds and other appropriated and approved funding. Insurance Maintenance Contractor is responsible for maintaining insurance meeting TxDOT standards. Additional insurance may be required in the event of any Unplanned Capital Maintenance. Bonds Performance and Payment Bonds are required, each having a term equal or greater to the then-current Maintenance Term. During each such period, the amount of each bond shall be equal to 75% of the aggregate sum of the remaining annual Maintenance Price for all years of the applicable Maintenance Term, using the current annual Maintenance Price as the annual Maintenance Price for each year remaining in the Maintenance Term. Separate Maintenance Performance Bonds and Maintenance Payment Bonds shall be provided by Maintenance Contractor in the amount of any outstanding Unplanned Capital Maintenance Parent Guaranty A guaranty of the Maintenance Contractor’s obligations from a Guarantor approved by TxDOT will be required if the Maintenance Contractor is a newly formed or limited liability entity, if the Maintenance Contractor submitted parent company financial statements in response to the RFQ or RFP or if the Maintenance Contractor fails to meet certain net worth requirements. Unplanned Capital Maintenance In connection with the performance of any Unplanned Capital Maintenance or Change Orders, Maintenance Contractor shall procure and maintain (a) the insurance deemed appropriate by TxDOT in its sole discretion and (b) payment and performance bonds all in the full amount of the Unplanned Capital Maintenance or Change Order as deter...
Sample 1See All (5)
PAYMENTS AND SECURITY. Section 3.1. Upon issuance of the Certificates, the Area School shall provide the Employer with a schedule showing the payments of the principal and interest on the Certificates, provided that the failure to provide such schedule to the Employer shall in no way diminish the liability of the Employer for the payments provided herein to be made by the Employer. In the event that the new jobs credit from withholding with respect to persons employed at the Project and the incremental property taxes produced by the expansion by the Employer as a part of the Project are insufficient for the payment of each payment of principal and interest on the Certificates on the date when due, the Employer shall make, or cause to be made, payments to the Area School in the amount of any such deficiency not later than the date when such principal and interest are due on the Certificates. In any event, the sum of all payments under this Agreement shall be sufficient to pay the total amount due with respect to such principal of and interest on the Certificates as and when due. The Employer shall not be entitled to any reimbursement for any payments made by it for purposes of paying principal and interest on the Certificates and shall not under any circumstances be entitled to any right of set-off with respect to payments due hereunder. Section 3.2. The Employer shall make, or cause to be made, all payments required hereunder directly to the Area School at its principal office for application to the payment of the corresponding installments of principal, premium, if any, and interest on the Certificates. Section 3.3. The obligations of the Employer to make payments shall be absolute and unconditional upon issuance of the Certificates, and the Employer shall make such payments without abatement, diminution or deduction regardless of any cause or circumstances whatsoever including, without limitation, any defense, set-off, recoupment or counterclaim which the Employer may have or assert against the Area School or any other person. Section 3.4. To secure the payment by the Employer of the payments required hereunder and compliance by the Employer with all the terms, provisions and conditions hereof, the Employer agrees that the new jobs credit from withholding and the incremental property taxes shall be pledged for payment of the principal, premium, if any, and interest on the Certificates as provided by the resolution. The Employer further agrees that the payments required to be m...
Sample 1
PAYMENTS AND SECURITY. Price and Payment The Maintenance Price is paid in monthly installments, payable in arrears pursuant to Draw Requests submitted on the first day of each month of such Maintenance Term year. The annual Maintenance Price (“MP”) will be escalated or reduced based on changes in the Consumer Price Index (“CPI”) and the Engineering News Record Construction Cost Index (“ENR CCI”). Retainage The Maintenance Contractor shall provide a retainage bond in the amount of 10% of the Maintenance Price, to be used as a guaranty for the protection of any claimants and TxDOT for overpayments, Liquidated Damages, and other deductions or damages owed by the Maintenance Contractor in connection with the COMA. Insurance The Maintenance Contractor is responsible for maintaining insurance meeting TxDOT standards. Additional insurance may be required in the event of any Unplanned Capital Maintenance. Bonds Performance and Payment Bonds are required, each having a term equal or greater to the then-current Maintenance Term. Guaranty TxDOT may, in its discretion based upon the review of the Financial Information provided in the Request for Qualifications (“RFQ”) and Request for Proposals (“RFP”), specify that an acceptable parent company or other affiliate company act as a Guarantor to the Maintenance Contractor by providing a guarantee with respect to the Maintenance Contractor’s financial capabilities in a form acceptable to TxDOT. In addition, the Maintenance Contractor may be required to provide a guaranty if minimum net worth requirements are not met during the term of the COMA.
Sample 1
PAYMENTS AND SECURITY. 3.1 Lessee shall pay Rent to Lessor and provide Lessor’s Security in respect of each Engine when and as specified in the Lease relating to such Engine. 3.2 (a) Regarding the Deposit specified in any Lease:- (i) it shall be held by Lessor, commingled with its own funds, as security for the full, punctual performance of all of Lessee’s obligations under the Lessee Documents. Lessor may but shall not be obliged to apply the Deposit in whole or in part for the payment of any amounts owing from time to time by Lessee or to perform any of Lessee’s obligations or otherwise remedy any Event of Default. Upon any depletion of the Deposit, Lessee shall, promptly following receipt of a written notice from Lessor that all or any portion of the Deposit has been depleted, restore the Deposit to its full cash amount; (ii) Lessee shall not attempt to subject the Deposit to any Encumbrance or assign any interest therein to any other party. Subject to Clause 12, the Deposit may be assigned by Lessor in whole but not in part to the Lender or any assignee or transferee of Lessor provided, however, that any such Lender, assignee or transferee shall have agreed in writing for the benefit of Lessee to hold, apply and return such Deposit solely for the purposes and as provided in this Agreement or the relevant Lease; (iii) upon the occurrence of an Event of Default, the Deposit shall automatically and without further act be applied against any amount due and payable to Lessor, unless Lessor thereafter elects otherwise by notice to Lessee; (iv) upon Lessor’s acceptance of but no later than 10 days following Redelivery of the Engine in conformity herewith and with the applicable Lease and the full and complete performance of all of Lessee’s accrued obligations in respect of such Engine at that time, the relevant Deposit or the remaining part thereof shall be repaid to Lessee; and (v) nothing in Clause 3.2(a) shall create a relationship of trust or any duty of a fiduciary nature between Lessor and Lessee.
Sample 1
PAYMENTS AND SECURITY. This Note shall bear interest at 4.99% per annum, compounded annually. Principal and accrued but unpaid interest (the "Outstanding Amount") shall be payable in full on November 24, 2000 (the "Maturity Date"). This Note may be prepaid by Maker at any time without penalty, and if this Note has been prepaid prior to May 24, 2000, no interest shall have accrued. The Outstanding Amount shall accelerate and be immediately due and payable as follows: (a) Upon termination of Maker's employment with Odisei S.A. ("Odisei") for any reason or no reason by Maker if S-3 effective or by Odisei. (b) Upon an Event of Default which has not been cured as provided in Section 2.
Sample 1
PAYMENTS AND SECURITY. 1. All amounts due to Eidotech presented in the offer documents, the Agree- ment or other documents related to the conclusion of the Agreement are expressed in Polish Zlotys, unless Eidotech and the Client agree other- wise in writing. These amounts do not include taxes, travel expenses of Eidotech personnel performing the Agreement that are due or will be due in the future in connection with the Agreement. Taxes, fees, travel costs or similar fees shall be charged by Eidotech if, in accordance with these GTPS, the arrangements of the Parties or in accordance with the law, Eido- tech is obliged or entitled to pay or collect them, and the Client is obliged to pay them. 2. The Client shall be obliged to pay the amounts due in the amount and strona 2 Eidotech Polska Sp. z o.o., siedziba i adres: ul. Świerkowa 3a, 05-816 Michałowice • REGON: 020784990 • NIP: PL8992649267 Tel: +00 00 000 00 00 • Tel/Fax: +00 00 000 00 00 • xxx.xxxxxxxx.xx • e-mail: xxxx@xxxxxxxx.xx within the time limits specified in the Agreement as well as pay invoices issued based thereon. 3. All payments to Eidotech shall be made to the bank account indicated on the invoices. The date of payment shall be the date of crediting Eidotech's bank account. 4. If the Client fails to meet the payment deadline, Eidotech shall have the right to charge maximum interest for each day of a delay. 5. In the event of performing additional work not covered by the Agreement, in particular support or assistance provided remotely for more than [1] hour, service or technical intervention at the Place of Service Provision etc., at the Client's request, Eidotech shall be required to estimate the costs of such services in advance (if possible) and shall have the right to document and invoice such costs to the Client 6. The Client shall be obliged to pay remuneration for the Services regard- less of whether the Services were actually performed in the event that Eidotech was ready to perform the Services, in particular Eidotech staff was present at the Place of Service Provision on the agreed date, and to performance of the Services did not occur for reasons attributable to the Client. 7. Eidotech may require the Client to make an advance payment for the performance of the Services. In this case, Eidotech shall be entitled to postpone the Services until the advance payment has been made. 8. Regardless of the remuneration for the provision of Services and other costs specified in the Agreement or these GTPS, the Clie...
Sample 1
PAYMENTS AND SECURITY. Sublessee shall make all payments to Sublessor as and when required under Section 3 hereof. As security for such obligation and for the other covenants of Sublessee hereunder, Sublessee has, on or prior to the Sublease Commencement Date, delivered to Sublessor either (i) a cash security deposit equal $350,000.00 (a “Cash Deposit”) or (ii) a letter of credit in a form reasonably approved by Sublessor in an amount equal to $350,000.00 (a “Letter of Credit”) (the “Security Deposit”)[1]. In the event Sublessee delivers Sublessor a Cash Deposit in accordance with the foregoing, Sublessee may, within one (1) month of the Sublease Commencement Date, provide Sublessor a Letter of Credit, and Sublessor shall return the balance of the Cash Deposit to Sublessee within fourteen (14) days following the receipt of such Letter of Credit. Without limiting Sublessor’s rights to utilize the Security Deposit hereunder, Sublessor shall return the balance to Sublessee within fourteen (14) days following the later of expiration of the Sublease and satisfaction by Sublessee of its obligations hereunder.
Sample 1
PAYMENTS AND SECURITY 
Sample 1Sample 2Sample 3See All (5)

Related to PAYMENTS AND SECURITY

  • Access and Security Customer shall employ all physical, administrative and technical controls, screening and security procedures and other safeguards necessary to: (a) securely administer the distribution and use of all Access Credentials and protect against any unauthorized access to or use of the Hosted Services; and (b) control the content and use of Customer Data, including the uploading or other provision of Customer Data for Processing by the Hosted Services.

  • Collateral and Security Section 10.01.

  • PAYMENTS AND SET-OFF All sums payable by the Guarantor under this Deed of Guarantee shall be paid without any set-off, lien or counterclaim, deduction or withholding, howsoever arising, except for those required by law, and if any deduction or withholding must be made by law, the Guarantor will pay that additional amount which is necessary to ensure that the Beneficiary receives a net amount equal to the full amount which it would have received if the payment had been made without the deduction or withholding. The Guarantor shall pay interest on any amount due under this Deed of Guarantee from the day after the date on which payment was due up to and including the date of payment in full (as well after as before any judgment) calculated from day to day at a rate per annum equal to the latest inter-bank lending rate (LIBOR) plus two percent (2%) above the base rate of the Bank of England from time to time in force. The Guarantor will reimburse the Beneficiary for all legal and other costs (including VAT) incurred by the Beneficiary in connection with the enforcement of this Deed of Guarantee.

  • Password and Security If you are issued or create any password or other credentials to access the Service or the portion of the Site through which the Service is offered, you agree not to give or make available your password or credentials to any unauthorized individuals, and you agree to be responsible for all actions taken by anyone to whom you have provided such credentials. If you believe that your credentials have been lost or stolen or that someone may attempt to use them to access the Site or Service without your consent, you must inform us at once at the telephone number provided in Section 6 of the General Terms above. See also Section 16 of the General Terms above regarding how the timeliness of your notice impacts your liability for unauthorized transfers.

  • Pledge and Security Interest Each Grantor hereby grants to the Collateral Agent, for the benefit of the Secured Parties, a security interest in and continuing lien on all of such Grantor’s right, title and interest in, to and under the following personal property of such Grantor, in each case whether now or hereafter owned or existing or in which any Grantor now has or hereafter acquires an interest and wherever the same may be located (subject to Section 2.2, all of which being hereinafter collectively referred to as the “Pledged Collateral”): (i) all Pledged Equity Interests in the Gaming Entities and all additional shares of, or interests in, all Pledged Equity Interests of any of the Gaming Entities now or hereafter owned or acquired by the Grantor, and all other Pledged Equity Interests in any of the Gaming Entities now or hereafter owned or acquired by the Grantor, in each case, whether as a dividend or distribution or as a result of a stock split or otherwise, and all of the Grantor’s rights to acquire Pledged Equity Interests in any of the Gaming Entities in addition to or in exchange or substitution for the existing Pledged Equity Interests; (ii) all of the Grantor’s rights, benefits, privileges, authority and powers under any Organizational Document of any of the Gaming Entities or voting trust agreement or similar agreement, including, without limitation, (A) all of the Grantor’s interest in the capital of any of the Gaming Entities, and all rights of the Grantor as an equityholder and all rights to receive dividends (including non-cash dividends), distributions, cash, securities, instruments and other property, assets or proceeds of any kind from time to time received, receivable or otherwise distributed or distributable in respect of the Pledged Equity Interests or pursuant to any Organizational Document of any of the Gaming Entities by way of distribution, return of capital or otherwise, (B) all other payments due or to become due to the Grantor in respect of the Pledged Equity Interests or any Organizational Document of any of the Gaming Entities, including but not limited to all rights of the Grantor to receive proceeds of any insurance, indemnity, warranty or guaranty due to or with respect to the Pledged Equity Interests or any Organizational Document of any of the Gaming Entities, (C) all claims of the Grantor for damages arising out of or for breach of or default under any Organizational Document of the Gaming Entities, (D) the right of the Grantor to terminate any Organizational Document of any of the Gaming Entities, to perform and exercise consensual or voting rights thereunder, including but not limited to the right, if any, to manage any of the Gaming Entities’ affairs, to make determinations, to exercise any election or option or to give or receive any notice, consent, amendment, waiver or approval, and the right, if any, to compel performance and otherwise exercise all remedies thereunder, (E) all rights of the Grantor as an equityholder of any of the Gaming Entities, to all property and assets of any of the Gaming Entities (whether real property, inventory, equipment, contract rights, accounts, receivables, general intangibles, securities, instruments, chattel paper, documents, chooses in action or otherwise), (F) and (F) certificates or instruments evidencing an ownership of Pledged Equity Interests in any of the Gaming Entities, or its assets; (iii) all cash and non-cash dividends, distributions, securities, instruments and other property and assets from time to time received, receivable or otherwise distributed in respect of, in exchange for, or upon the conversion of, the Pledged Equity Interests and other property referred to in clauses (i) and (ii) of Section 2.1; (iv) any other claim which the Grantor now has or may in the future acquire in its capacity as equityholder of any of the Gaming Entities against any other of the Gaming Entities and their property or assets; (v) all proceeds, products and accessions of and to any and all of the property described in the preceding clauses (i) through (iv) of this Section 2.1 (including, without limitation, proceeds that constitute property of the types described above); and (vi) all certificates, instruments or other documents from time to time evidencing any of the foregoing, and all interest, earnings and other proceeds of any of the foregoing. The Grantor agrees that this Agreement, the security interest granted pursuant to this Agreement and all rights, remedies, powers and privileges provided to the Collateral Agent under this Agreement are in addition to and not in any way affected or limited by any other security now or at any time held by the Collateral Agent to secure payment and performance of the Secured Obligations.

  • Data and Security If Contractor is granted access to Court Data, Confidential Information or Court Work Locations in the performance of the Work;

  • Borrowing and Security To borrow funds and to mortgage and pledge the assets of the Trust or any part thereof to secure obligations arising in connection with such borrowing;

  • Payments and Transfers 1. Except under the circumstances envisaged in Article 69, a Party shall not apply restrictions on international transfers and payments for current transactions relating to its specific commitments. 2. Nothing in this Chapter shall affect the rights and obligations of the Parties as members of the International Monetary Fund under the Articles of Agreement of the International Monetary Fund, including the use of exchange actions which are in conformity with the Articles of Agreement of the International Monetary Fund, provided that a Party shall not impose restrictions on any capital transactions inconsistently with its specific commitments under this Chapter regarding such transactions, except under Article 69, or at the request of the International Monetary Fund.

  • Safety and Security Contractor is responsible for maintaining safety in the performance of this Agreement. Contractor shall be responsible to ascertain from the District the rules and regulations pertaining to safety, security, and driving on school grounds, particularly when children are present.

  • Collateral and Security Documents The due and punctual payment of the principal of, premium and interest on the Notes when and as the same shall be due and payable, whether on a Payment Date, at the Maturity Date, or by acceleration, repurchase, redemption or otherwise, and interest on the overdue principal of, premium and interest on the Notes to the Holders or the Indenture Trustee under this Indenture, the Notes and the other Security Documents, and all other amounts in respect of the Secured Obligations according to the terms hereunder or thereunder, shall be secured by a security interest in the Collateral as provided in the Security Documents, which define the terms of the Liens that secure the Secured Obligations. The Issuer hereby acknowledges and agrees that the Indenture Trustee holds the Collateral in trust for the benefit of the Holders, pursuant to the terms of the Security Documents. Each Holder, by accepting a Note, consents and agrees (subject to Section 4.11) to the terms of the Security Documents (including the provisions providing for the possession, use, release and foreclosure of Collateral) as the same may be in effect or may be amended from time to time in accordance with their respective terms and this Indenture, and authorizes and directs the Indenture Trustee to enter into the Security Documents and, subject to the provisions of this Indenture, to perform its obligations and exercise its rights thereunder in accordance herewith and therewith. The Issuer shall take any and all actions reasonably required to cause the Security Documents to create and maintain at all times, as security for the Secured Obligations of the Issuer hereunder, a valid and enforceable perfected Lien on all of the Collateral, in favor of the Indenture Trustee for the benefit of the Holders under the Security Documents. The Issuer hereby covenant (A) to perform and observe its obligations under the Security Documents and (B) take any and all commercially reasonable actions (including without limitation the covenants set forth in the Security Documents and in this Article 9) required to cause the Security Documents to create and maintain, as security for the Secured Obligations contained in this Indenture, the Notes and the other Security Documents, valid and enforceable, perfected (except as expressly provided herein or therein) security interests in and on all the Collateral, in favor of the Indenture Trustee, superior to and prior to the rights of all third Persons, and subject to no other Liens, in each case, except as expressly permitted herein or therein. The Issuer shall do or cause to be done, at its sole cost and expense, all such actions and things as may be necessary, or as may be required by the provisions of the Security Documents, to confirm to the Indenture Trustee the security interests in the Collateral contemplated hereby and by the Security Documents, as from time to time constituted, so as to render the Collateral available for the security and benefit of this Indenture and of the Notes secured hereby, according to the intent and purpose herein and therein expressed.