Replenishment of Security Sample Clauses

Replenishment of Security. If at any time the City draws upon such performance security, Company shall within thirty (30) days after written notice from the City replenish such performance security to the original minimum amount required by this Section 8.
Sample 1Sample 2
AutoNDA by SimpleDocs
Replenishment of Security. Where the Council has had recourse to the Security and it is subsequently found that the amounts drawn down were not payable by the Contractor, the Council must repay the amount not payable by the Contractor within 10 Business Days and the repayment of this amount will be the sole and exclusive remedy of the Contractor against the Council with respect to such recourse to the Security.
Sample 1
Replenishment of Security. During the operational life of the Project, if less than the full dollar amount of the Security is drawn upon and expended to pay for any Project Restoration Work or any Project Decommission and Restoration Work, the Company, or its successor‐in‐interest(s or assign(s), shall provide replacement Security, within sixty (60) days of the County’s draw upon the Security, in the same form and original dollar amount, or such modified dollar amount based on an independent Professional Engineering’s written opinion and approved by the County, in its sole discretion.
Sample 1

Related to Replenishment of Security

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

  • 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:

  • REFUND OF SECURITY DEPOSIT MANAGEMENT agrees to refund the security deposit to RESIDENT upon satisfaction of all lease provisions, and all of the following conditions, or as otherwise required by applicable Virginia Law.

  • Grant of Security Interest All Cash Collateral (other than credit support not constituting funds subject to deposit) shall be maintained in blocked, non-interest bearing deposit accounts with the Administrative Agent. The Borrower, and to the extent provided by any Lender or Defaulting Lender, such Lender or Defaulting Lender, hereby grants to (and subjects to the control of) the Administrative Agent, for the benefit of the Administrative Agent, the Issuing Lender and the L/C Lenders, and agrees to maintain, a first priority security interest and Lien in all such Cash Collateral and in all proceeds thereof, as security for the Obligations to which such Cash Collateral may be applied pursuant to Section 3.10(c). If at any time the Administrative Agent determines that Cash Collateral is subject to any right or claim of any Person other than the Administrative Agent or any Issuing Lender as herein provided, or that the total amount of such Cash Collateral is less than 105% of the applicable L/C Exposure, Fronting Exposure and other Obligations secured thereby, the Borrower or the relevant Lender or Defaulting Lender, as applicable, will, promptly upon demand by the Administrative Agent, pay or provide to the Administrative Agent additional Cash Collateral in an amount sufficient to eliminate such deficiency (after giving effect to any Cash Collateral provided by such Defaulting Lender).

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!