Required Security Fund Sample Clauses

Required Security Fund. Prior to providing Service to any Subscriber, Grantee shall establish and provide to the City a Security Fund, as security for the faithful performance by Grantee of all provisions of this Franchise Agreement. The Security Fund shall be available to the City to satisfy all claims, liens, fees, and/or taxes Grantee owes the City and which arise by reason of operation, or maintenance of the Cable System, and to satisfy any actual or liquidated damages arising out of a breach or default pertaining to the Franchise Agreement. The Security Fund shall consist of any one of two (2) instruments which shall be in the amount of at least two hundred fifty thousand dollars ($250,000.00) and shall either be in the form of an irrevocable, standby letter of credit, or a cash deposit established in a local bank in an interest-bearing account payable to the order of the City as trustee for Grantee, with all interest distributed to Grantee. The Security Fund shall be maintained at a minimum level of two hundred fifty thousand dollar ($250,000.00) level throughout the term of this Franchise. Grantee shall pay all fees or other charges required to keep this letter of credit or cash portion in force and shall, within thirty (30) days of any draw by the City, restore the face value of this instrument to the original amount. Failure to replenish this portion of the Security Fund shall be deemed a material breach of this Franchise Agreement.
Sample 1
AutoNDA by SimpleDocs

Related to Required Security Fund

  • Health Spending Account contributions by the Executive will cease on the Effective Date. The Executive may submit claims against the balance accrued to the Effective Date, until the end of the calendar year in which the Effective Date occurs.

  • Health Spending Account (HSA Wellness Spending Account (WSA)/Registered Retirement Savings Plan (RRSP) utilization rates;

  • A Service Accountability Agreement This Agreement is a service accountability agreement for the purposes of section 20(1) of LHSIA.

  • Service Accountability Agreements The HSP acknowledges that if the LHIN and the HSP enter into negotiations for a subsequent service accountability agreement, subsequent funding may be interrupted if the next service accountability agreement is not executed on or before the expiration date of this Agreement.

  • Data Security Requirements A. Data Transport. When transporting Confidential Information electronically, including via email, the data will be protected by:

  • Requirements to Establish Escrow Accounts 11.10.1 To be acceptable, the Third Party escrow agent must meet all of the following criteria:

  • Contractor Security Clearance Customers may designate certain duties and/or positions as positions of “special trust” because they involve special trust responsibilities, are located in sensitive locations, or have key capabilities with access to sensitive or confidential information. The designation of a special trust position or duties is at the sole discretion of the Customer. Contractor or Contractor’s employees and Staff who, in the performance of this Contract, will be assigned to work in positions determined by the Customer to be positions of special trust, may be required to submit to background screening and be approved by the Customer to work on this Contract.

  • Special Account 1. For the purposes of this Schedule:

  • HUMANITY FUND 44.00 The Company agrees to deduct on a weekly basis the amount of $0.01 per hour from the wages of all Employees in the bargaining unit for all hours worked and, prior to the 15th day of the month following, to pay the amount so deducted to the “Humanity Fund” and to forward such payment to United Steel Workers of America National Office, 000 Xxxxxxxx Xxxxxx Xxxx, Xxxxxxx, Xxxxxxx X0X0X0, and to advise in writing both the Humanity Fund at the aforementioned address and the local union that such payment has been made, the amount of such payment and the names of all Employees in the bargaining unit on whose behalf such payment has been made. All deductions are voluntary and may be canceled upon request.

  • Facility Security Clearance (FSC) The Contractor shall maintain or exceed their FSC and submit updates, if applicable

Time is Money Join Law Insider Premium to draft better contracts faster.