Common use of Requirements to Pay Clause in Contracts

Requirements to Pay. a) If at any time, payment of any amount guaranteed herein is in default for more than seven (7) days, the Union shall be entitled to deliver to Guarantor a formal demand in writing outlining the specific sum involved and particular of the default. Upon receipt of such demand, Guarantor will forthwith pay to Union the sum set out in such notice. If there is any dispute as to the amount owing by Producer, or whether any amount is owing at all, Guarantor will nevertheless pay the sum set out in such notice to a mutually agreed upon third party escrow agent (the “Escrow Agent”) in trust, and the Escrow Agent will hold such sum in trust in an interest bearing account. Immediately upon such dispute being resolved, the Escrow Agent will pay the applicable amount to Union (if any) and refund to Guarantor any sums determined to be in excess (if any) of what was owing to Producer, along with accrued interest. b) Union shall have the unilateral right to terminate this Agreement and revert back to the requirements of Article 13, a)9) of the Collective Agreement in respect of the Production if the payment of any amount guaranteed herein pertaining to the Production is in default for more than Seven (7) days after Guarantor has been served with the demand provided in paragraph 2(a) above or in the event that Guarantor is unable to satisfy or comply with any of its obligations under this Guarantee as determined by the Union, acting reasonably. c) Guarantor shall be released from the guarantee given herein and all obligations resulting there from in respect of the Production of the full payment of all amounts guaranteed herein pertaining to the Production. d) The termination of this Agreement by Union pursuant to paragraph 2(b) above shall in no way annul, terminate or otherwise affect the obligations of the Guarantor with respect to any amounts accruing prior to the date of such termination by Union, subject to paragraph 2(c) above. e) If Union terminates this Agreement pursuant to paragraph 2(b) above, Producer shall, within forty- eight

Requirements to Pay. a) If at any time, payment of any amount guaranteed herein is in default for more than seven (7) days, the Union shall be entitled to deliver to Guarantor a formal demand in writing outlining the specific sum involved and particular of the default. Upon receipt of such demand, Guarantor will forthwith pay to Union the sum set out in such notice. If there is any dispute as to the amount owing by Producer, or whether any amount is owing at all, Guarantor will nevertheless pay the sum set out in such notice to a mutually agreed upon third party escrow agent (the “Escrow Agent”) in trust, and the Escrow Agent will hold such sum in trust in an interest bearing account. Immediately upon such dispute being resolved, the Escrow Agent will pay the applicable amount to Union (if any) and refund to Guarantor any sums determined to be in excess (if any) of what was owing to Producer, along with accrued interest. b) Union shall have the unilateral right to terminate this Agreement and revert back to the requirements of Article 13Xxxxxxxx, a)9x)0) of the Collective Agreement in respect of the Production if the payment of any amount guaranteed herein pertaining to the Production is in default for more than Seven (7) days after Guarantor has been served with the demand provided in paragraph 2(a) above or in the event that Guarantor is unable to satisfy or comply with any of its obligations under this Guarantee as determined by the Union, acting reasonably. c) Guarantor shall be released from the guarantee given herein and all obligations resulting there from in respect of the Production of the full payment of all amounts guaranteed herein pertaining to the Production. d) The termination of this Agreement by Union pursuant to paragraph 2(b) above shall in no way annul, terminate or otherwise affect the obligations of the Guarantor with respect to any amounts accruing prior to the date of such termination by Union, subject to paragraph 2(c) above. e) If Union terminates this Agreement pursuant to paragraph 2(b) above, Producer shall, within forty- eighteight (48) hours of receipt of written notice of such termination, post security in the form of a cash deposit or letter(s) of credit in accordance with Article Xxxxxxxx, x)0) of the Collective Agreement. If there is any dispute as to the amount owing at all, Producer will nevertheless pay the sum set out in such notice to the Escrow Agent in trust, to be held by the Escrow Agent in an interest bearing account. Immediately upon such dispute being resolved, the Escrow Agent will pay the applicable amount to Union (if any) and refund to Producer any refund to Producer any sums to be in excess (if any) of what was owing by Producer, along with accrued interest.

Requirements to Pay. a) If at any time, payment of any amount guaranteed herein is in default for more than seven (7) days, the Union shall be entitled to deliver to Guarantor a formal demand in writing outlining the specific sum involved and particular of the default. Upon receipt of such demand, Guarantor will forthwith pay to Union the sum set out in such notice. If there is any dispute as to the amount owing by Producer, or whether any amount is owing at all, Guarantor will nevertheless pay the sum set out in such notice to a mutually agreed upon third party escrow agent (the “Escrow Agent”) in trust, and the Escrow Agent will hold such sum in trust in an interest bearing account. Immediately upon such dispute being resolved, the Escrow Agent will pay the applicable amount to Union (if any) and refund to Guarantor any sums determined to be in excess (if any) of what was owing to Producer, along with accrued interest. b) Union shall have the unilateral right to terminate this Agreement and revert back to the requirements of Article 13Xxxxxxxx, a)9x)0) of the Collective Agreement in respect of the Production if the payment of any amount guaranteed herein pertaining to the Production is in default for more than Seven (7) days after Guarantor has been served with the demand provided in paragraph 2(a) above or in the event that Guarantor is unable to satisfy or comply with any of its obligations under this Guarantee as determined by the Union, acting reasonably. c) Guarantor shall be released from the guarantee given herein and all obligations resulting there from in respect of the Production of the full payment of all amounts guaranteed herein pertaining to the Production. d) The termination of this Agreement by Union pursuant to paragraph 2(b) above shall in no way annul, terminate or otherwise affect the obligations of the Guarantor with respect to any amounts accruing prior to the date of such termination by Union, subject to paragraph 2(c) above. e) If Union terminates this Agreement pursuant to paragraph 2(b) above, Producer shall, within forty- eightforty-eight (48) hours of receipt of written notice of such termination, post security in the form of a cash deposit or letter(s) of credit in accordance with Article Xxxxxxxx, x)0) of the Collective Agreement. If there is any dispute as to the amount owing at all, Producer will nevertheless pay the sum set out in such notice to the Escrow Agent in trust, to be held by the Escrow Agent in an interest bearing account. Immediately upon such dispute being resolved, the Escrow Agent will pay the applicable amount to Union (if any) and refund to Producer any refund to Producer any sums to be in excess (if any) of what was owing by Producer, along with accrued interest.

Requirements to Pay. a) If at any time, payment of any amount guaranteed herein is in default for more than seven (7) days, the Union shall be entitled to deliver to Guarantor a formal demand in writing outlining the specific sum involved and particular of the default. Upon receipt of such demand, Guarantor will forthwith pay to Union the sum set out in such notice. If there is any dispute as to the amount owing by Producer, or whether any amount is owing at all, Guarantor will nevertheless pay the sum set out in such notice to a mutually agreed upon third party escrow agent (the “Escrow Agent”) in trust, and the Escrow Agent will hold such sum in trust in an interest bearing account. Immediately upon such dispute being resolved, the Escrow Agent will pay the applicable amount to Union (if any) and refund to Guarantor any sums determined to be in excess (if any) of what was owing to Producer, along with accrued interest. b) Union shall have the unilateral right to terminate this Agreement and revert back to the requirements of Article 13, a)913(a)(9) of the Collective Agreement in respect of the Production if the payment of any amount guaranteed herein pertaining to the Production is in default for more than Seven seven (7) days after Guarantor has been served with the demand provided in paragraph 2(a) above or in the event that Guarantor is unable to satisfy or comply with any of its obligations under this Guarantee as determined by the Union, acting reasonably. c) Guarantor shall be released from the guarantee given herein and all obligations resulting there from in respect of the Production of the full payment of all amounts guaranteed herein pertaining to the Production. d) The termination of this Agreement by Union pursuant to paragraph 2(b) above shall in no way annul, terminate or otherwise affect the obligations of the Guarantor with respect to any amounts accruing prior to the date of such termination by Union, subject to paragraph 2(c) above. e) If Union terminates this Agreement pursuant to paragraph 2(b) above, Producer shall, within forty- forty-eight