Replacement of Security. (a) The Access Holder may, with Aurizon Network’s consent, replace any Security provided by the Access Holder under this clause 6 with replacement Security which satisfies the requirements of this clause 6.
Replacement of Security. The Operator may, with Aurizon Network’s consent, replace any Security provided by the Operator under this clause 6 with replacement Security which satisfies the requirements of this clause 6.
Replacement of Security. The End User may, with Aurizon Network’s consent, replace any Security provided by the End User under this clause 5 with replacement Security which satisfies the requirements of this clause 5.
Replacement of Security. (a) If any Security has been provided pursuant to clause 14.1(a) and:
Replacement of Security. (1) The Developer may replace any Security provided by it at any time, provided that the amount of that replacement is not less than that which is required to be provided under this Planning Agreement.
Replacement of Security. Purchaser acknowledges that no Security will be transferred to Purchaser as part of the Transactions. As such, within thirty (30) days of Closing, Purchaser shall replace each Security with letters of credit, parent guaranties, cash, bonds or items of credit support, in the full amount of such Security being replaced and in each case (a) in form and substance acceptable to the Person to which such Security is posted and (b) otherwise sufficient to cause such Person to return such Security to Seller. Thereafter, if either Party identifies any Security related to the Purchased Assets that has not been replaced, then such Party shall promptly notify the other Party, and promptly thereafter Purchaser shall replace such Security in the amount and in the form contemplated by this Section 4.16. Promptly following request by Seller, Purchaser shall deliver to Seller evidence of the replacement of the Security pursuant to this Section 4.16. Notwithstanding the foregoing, Purchaser shall not be required to replace the Security posted by Seller in connection with the Canton Loan Agreement after the Closing if Purchaser agrees to enter into an indemnification agreement reasonably acceptable to Seller providing that Purchaser shall indemnify Seller from any amounts that Seller is required to pay after the Closing Date under the Security posted by Seller in connection with the Canton Loan Agreement.
Replacement of Security. The User must replace any security held by Horizon Power Pilbara Network under clause 12.1(a)(2) as follows:
Replacement of Security. The Fund Entities acknowledge that BRPI and its Subsidiaries (other than the BRPI Entities) (collectively with each of their shareholders, directors, officers, employees, agents and representatives, the “BRPI Indemnified Parties”) have (i) granted guarantees or indemnities in respect of the obligations of one or more of the BRPI Entities and the Subsidiaries of the Fund Entities pursuant to the agreements identified in Section 6.7 of the Disclosure Letter (the “BRPI Guarantees”), and (ii) provided letters of credit or collateral in favour of third parties on behalf or for the benefit of one or more of the BRPI Entities and the Subsidiaries of the Fund Entities pursuant to the agreements identified in Section 6.7 of the Disclosure Letter (the “BRPI Security”). Subject to the Effective Date having occurred, BREP agrees that it will, within a reasonable period of time following the Effective Date (a) make commercially reasonable efforts to deliver replacement letters of credit or collateral under the agreements pursuant to which the BRPI Security was delivered and return all BRPI Security to the relevant BRPI Indemnified Parties; and (b) deliver replacement guarantees or indemnities of BRELP and any subsidiary of BRELP as the counterparty to the relevant agreement may require, in favour and for the benefit of such counterparty, and in such form as the original guarantee or indemnity delivered by the BRPI Indemnified Party(ies). From and after the Effective Date, BREP and each of the Fund Entities hereby agrees to indemnify and save each of the BRPI Indemnified Parties harmless from and against all Damages suffered or incurred by, imposed upon or asserted against any of them as a result of, in respect of, connected with, or arising out of, under or pursuant to any of the BRPI Guarantees or the BRPI Security. To the extent BRPI and/or any of its Subsidiaries provided a BRPI Guarantee and/or a BRPI Security, BRPI and/or the relevant Subsidiary agrees that until such BRPI Guarantee or BRPI Security is replaced as contemplated by this Section 6.7, BRPI and/or such Subsidiary will maintain in full force and effect, unamended, such BRPI Guarantee and/or BRPI Security and shall, subject to the rights of the Fund Entities in this Agreement, use commercially reasonable efforts to do, make, execute, deliver or cause to be done, made, executed or delivered, all such further acts, documents and things as BREP or the beneficiaries of the BRPI Guarantees or the holders of t...
Replacement of Security. (a) The Contractor agrees that it will, not less than 40 Business Days prior to the expiry of any Security:
Replacement of Security. If at any time the Village reasonably determines that the institution issuing the Performance Security, Guaranty Security, or Replacement Security is unable to meet any federal or state requirement for reserves, is insolvent, is in danger of becoming any of the foregoing, or is otherwise in danger of being unable to honor the appropriate letter of credit at any time during its term, or if the Village otherwise reasonably deems itself to be insecure, then the Village shall have the right to demand that the Developer provide replacement security instruments from a financial institution or surety satisfactory to the Village. The replacement security instrument shall be deposited with the Village not later than ten (10) days after the demand. After deposit of the replacement security instrument, the Village shall surrender the original security instrument to the Developer.
