Return of the Letters of Credit Sample Clauses

Return of the Letters of Credit. The MTA shall return each Letter of Credit to the Concessionaire, less any amounts that the MTA is entitled to draw, within seven (7) Business Days of the date which is the latest of: (i) the termination or expiration of this License Agreement; (ii) the termination or expiration of the Transition Services Period; (iii) the MTA's receipt of all deliverables and other materials that the Concessionaire is obligated to provide pursuant to this License Agreement; (iv) the MTA’s completion of any audit to determine the Concessionaire's compliance with its obligations under this License Agreement and whether the MTA is entitled to draw on one or more of the Letters of Credit based on the Concessionaire's failure to comply with such obligations; and (v) the final resolution of any disputes between the Parties.