Provision and Application of Security Sample Clauses

Provision and Application of Security. ‌ Developer has provided Affected Transmission Owner with security in the amount of the ATO Estimated Total Costs for the Affected System Upgrade Facilities in accordance with Attachment S to the NYISO OATT. If the Developer: (i) does not pay an invoice issued by Affected Transmission Owner pursuant to Article 7.1 within the timeframe set forth in Article 7.3 or (ii) does not pay any disputed amount into an independent escrow account pursuant to Article 7.4, the Affected Transmission Owner may draw upon Developer’s security to recover such payment. The Developer’s security shall be reduced on a dollar-for-dollar basis for Developer’s payments made to the Affected Transmission Owner for its performance of the EPC Services.
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Provision and Application of Security. Within thirty (30) Calendar Days of the Effective Date of this Agreement, Transmission Developer shall provide Affected System Operator with Security in the amount of the cost estimate for the Network Upgrade Facilities 1.B, in accordance with Section 22.9.3 of Attachment P of the ISO OATT, and the Transmission Project 1.A, both documented in the Facilities Study report. This amount is set forth in Appendix A of this Agreement. If the Transmission Developer: (i) does not pay an invoice issued by the Affected System Operator pursuant to Article 7.1 within the timeframe set forth in Article 7.3 or (ii) does not pay any disputed amount into an independent escrow account pursuant to Article 7.4 the Affected System Operator may draw upon Transmission Developer’s Security to recover such payment. The Security shall be reduced on a dollar-for-dollar basis for payments made to Affected System Operator for the purpose of constructing, procuring, and installing the Affected System Upgrade Facilities.
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Provision and Application of Security. Developer has provided Affected System Operator with Security in the amount of the ASO Estimated Total Costs for the Affected System Upgrade Facilities in accordance with Attachment S to the ISO OATT. If the Developer: (i) does not pay an invoice issued by Affected System Operator pursuant to Article 7.1 within the timeframe set forth in Article 7.3 or (ii) does not pay any disputed amount into an independent escrow account pursuant to Article 7.4, the Affected System Operator may draw upon Developer’s Security to recover such payment. The Developer’s Security shall be reduced on a dollar-for-dollar basis for Developer’s payments made to the Affected System Operator for its performance of the EPC Services.
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Provision and Application of Security. Each Developer has provided the Affected Transmission Owner with cash or Security in the amount of its Developer Common SUF Cost Cap for its share of the Common System Upgrade Facilities as determined in accordance with Attachment S to the ISO OATT and set forth in Appendix A. If a Developer: (i) does not pay an invoice issued by the Affected Transmission Owner pursuant to Article 7.1 within the timeframe set forth in Article 7.3 or (ii) does not pay any disputed amount into an independent escrow account pursuant to Article 7.4, the Affected Transmission Owner may draw upon the cash or Security posted by the Developer for the Affected Transmission Owner to recover such payment.
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Provision and Application of Security. 5.2.1 If Interconnection Customer accepted its Project Cost Allocation and posted to System Owner the Security for its Upgrades at the conclusion of, as applicable, the Class Year Study, Class Year Deliverability Study, Cluster Study, Cluster Study Deliverability Study, or Affected System Study, then Interconnection Customer shall not be responsible for posting additional Security under this Agreement. Interconnection Customer’s Security shall be subject to the requirements of Attachment S or HH to the ISO OATT.
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Provision and Application of Security. At least thirty (30) Calendar Days prior to the commencement of the procurement, installation, or construction of a discrete portion of a Connecting Transmission Owner’s Attachment Facilities, Developer shall provide Connecting Transmission Owner, at Developer’s option, a guarantee, a surety bond, letter of credit or other form of security that is reasonably acceptable to Connecting Transmission Owner and is consistent with the Uniform Commercial Code of the jurisdiction identified in Article 14.2.1 of this Agreement. Such security for payment shall be in an amount sufficient to cover the cost for the Developer’s share of constructing, procuring and installing the applicable portion of Connecting Transmission Owner’s Attachment Facilities, and shall be reduced on a dollar-for-dollar basis for payments made to Connecting Transmission Owner for these purposes. Developer has provided Affected Transmission Owner with security in the amount of the ATO Estimated Total Costs for the Affected System Upgrade Facilities in accordance with Attachment S to the NYISO OATT. If the Developer: (i) does not pay an invoice issued by Affected Transmission Owner pursuant to Article 7.1 within the timeframe set forth in Article 7.3 or (ii) does not pay any disputed amount into an independent escrow account pursuant to Article 7.4, the Affected Transmission Owner may draw upon Developer’s security to recover such payment. The Developer’s security shall be reduced on a dollar-for-dollar basis for Developer’s payments made to the Affected Transmission Owner for its performance of the EPC Services. In addition:
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Related to Provision and Application of Security

  • Provision of Security At least thirty (30) Calendar Days prior to the commencement of the procurement, installation, or construction of a discrete portion of a Connecting Transmission Owner’s Attachment Facilities, Developer shall provide Connecting Transmission Owner, at Developer’s option, a guarantee, a surety bond, letter of credit or other form of security that is reasonably acceptable to Connecting Transmission Owner and is consistent with the Uniform Commercial Code of the jurisdiction identified in Article 14.2.1 of this Agreement. Such security for payment shall be in an amount sufficient to cover the cost for the Developer’s share of constructing, procuring and installing the applicable portion of Connecting Transmission Owner’s Attachment Facilities, and shall be reduced on a dollar-for-dollar basis for payments made to Connecting Transmission Owner for these purposes. In addition:

  • Return of Security Aurizon Network must return to the Access Holder (and, where appropriate, give the Access Holder any necessary releases in relation to) any Security provided by the Access Holder under this clause 6:

  • Release of Security (a) If a disposal of any asset subject to security created by a Security Document is made in the following circumstances:

  • Principle of Security The Board and the Association agree that increased length of service in the employment of the Board entitles all employees covered by this Agreement to commensurate increase in security of teaching employment, provided that they possess the qualifications necessary for the positions available.

  • SUBSTITUTION OF SECURITIES Upon request and at the sole cost and expense of Contractor, District shall permit substitution of securities in lieu of retention, in accordance with Public Contract Code Section 22300.

  • Breach of Security 6.1 Either party shall notify the other immediately upon becoming aware of any Breach of Security including, but not limited to an actual, potential or attempted breach, or threat to, the Security Plan.

  • Warranty of Security Unless otherwise agreed in writing, the Contractor and its subcontractors will not perform any of the services from outside of the United States, and the Contractor will not allow any State of Florida data to be sent by any medium, transmitted, or accessed outside of the United States. The Contractor agrees that a violation of items listed above will result in immediate and irreparable harm to the Customer and will entitle the Customer to a credit as provided in the Contract documents. This credit is intended only to cover the Customer’s internal staffing and administrative costs as well as the diminished value of services provided under the Contract and will not preclude the Customer from recovering other damages it may suffer as a result of such violation. For purposes of determining the damages due hereunder, a group of violations relating to a common set of operative facts (e.g., same location, same time period, same off-shore entity) will be treated as a single event. A violation of this provision will also entitle the Customer to recover any damages arising from a breach of this section and constitutes an event of default. The Contractor must notify the Department and the Customer as soon as possible, in accordance with the requirements of section 501.171, F.S., if applicable, and in all events within one (1) business day in the event Contractor discovers any data is breached, any unauthorized access of data occurs (even by persons or companies with authorized access for other purposes), any unauthorized transmission of data occurs, or of any credible allegation or suspicion of a material violation of the above. This notification is required regardless of the number of persons or type of data affected. The notification must be clear and conspicuous and include a description of the following:

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