Right to Require Performance Assurance Sample Clauses

Right to Require Performance Assurance. At any time and from time to time, when a Party (the "Requesting Party") believes in good faith that a Material Adverse Change has occurred in respect of the other Party, the Requesting Party shall be entitled to require, by written notice, that the other Party provide to it or increase in amount: (a) a Letter of Credit; (b) cash; or (c) other security (including a bank or parent guarantee), in a form and amount reasonably acceptable to the Requesting Party (each a "Performance Assurance"). Upon receipt of such written notice, the other Party shall within three (3) Business Days provide to the Requesting Party the Performance Assurance required.
Sample 1Sample 2Sample 3See All (18)
AutoNDA by SimpleDocs
Right to Require Performance Assurance. At any time and from time to time, when a Party (the "Requesting Party") believes in good faith that a Material Adverse Change has occurred in respect of the other Party, the Requesting Party shall be entitled to require, by written notice, that the other Party provide to it or increase in amount:
Sample 1Sample 2Sample 3See All (6)
Right to Require Performance Assurance. At any time and from time to time, when a Party (the "Requesting Party") believes in good faith that a Material Adverse Change has occurred in respect of the other Party, the Requesting Party shall be entitled to require, by written notice, that the other Party provide to it or increase in amount: (a) a Letter of Credit; (b) cash; or (c) other security (including a bank or parent guarantee), in a form, amount and from an entity which is reasonably acceptable to the Requesting Party (each a "Performance Assurance"). Upon receipt of such written notice, the other Party shall within three Business Days provide to the Requesting Party the Performance Assurance required. For the avoidance of doubt, in the event that an entity providing Performance Assurance on behalf of a Party does not thereafter continue to be reasonably acceptable to the Requesting Party, the Requesting Party shall have the right to require the other Party to provide to it additional Performance Assurance in accordance herewith.
Sample 1Sample 2Sample 3See All (5)
Right to Require Performance Assurance. At any time and from time to time, when a Party (the "Requesting Party") believes in good faith that a Material Adverse Change has occurred in respect of the other Party, the Requesting Party shall be entitled to require, by written notice, that the other Party provide to it or increase in amount: (a) a Letter of Credit; (b) cash; or (c) other security (including a bank or parent guarantee), in a form and amount 2. Derecho a Requerir una Garantía de Cumplimiento: En cualquier momento y cuando corresponda, cuando una Parte (la "Parte Solicitante") entienda de buena fe que se ha producido un Cambio Material Adverso en relación con la otra Parte, la Parte Solicitante tendrá derecho a requerir, mediante notificación por escrito, que la otra Parte aporte o aumente el importe de: (a) una Carta de Crédito; (b) efectivo; u (c) otra garantía (incluyendo una garantía bancaria o reasonably acceptable to the Requesting Party (each a "Performance Assurance"). Upon receipt of such written notice, the other Party shall within three (3) Business Days provide to the Requesting Party the Performance Assurance required. de la matriz), en forma y cantidad razonablemente aceptable para la Parte Solicitante (cada una de ellas una "Garantía de Cumplimiento"). Tras la recepción de dicha notificación por escrito, la otra Parte proporcionará a la Parte Solicitante la Garantía de Cumplimiento requerida en el plazo de tres (3) Días hábiles.
Sample 1Sample 2
Right to Require Performance Assurance. In 17.1, the following sentence shall be added: “A Credit Support Provider or Provider of Performance Assurance that is a Bank must be a bank with its business seat within the European Union.”
Sample 1
Right to Require Performance Assurance. The following sentences are inserted at the end of § 17.1: Where Party A is entitled to require Performance Assurance from Party B, then in relation to all Individual Contracts where Party B is the Buyer, the (partial) amount of the Performance Assurance to be provided in relation to such Individual Contracts shall mirror 100 % of the unpaid amount which will in total need to be paid by Party B to Party A under the respective Individual Contract based on the Contract Price and the Contract Quantity, and the Performance Assurance shall be provided in accordance with the requirements for Credit Support Documents as described in § 16.2 to § 16.5, which shall apply mutatis mutandis. In deviation from the above, the amount of Performance Assurance to be provided in relation to an Individual Contracts where Party B is the Buyer shall mirror only 25 % of the unpaid amount which will in total need to be paid by Party B to Party A under the respective Individual Contract based on the Contract Price and the Contract Quantity, where Performance Assurance is to be provided by Party B due to a Material Adverse Chance in accordance with 17.2 (a), but Party B still has a minimum rating of BBB- (Standard & Poor’s), Baa3 (Moody’s), BBB- (Fitch) or comparable.
Sample 1

Related to Right to Require Performance Assurance

  • Performance Assurance Seller agrees to deliver to Buyer Performance Assurance in a form acceptable to Buyer to secure its obligations under this Agreement, which Performance Assurance Seller shall maintain in full force and effect for the period posted with Buyer, as follows:

  • Right to Compel Performance Notwithstanding the foregoing, upon the occurrence of an event of Default, a non-Defaulting Interconnection Party shall be entitled to (a) commence an action to require the Defaulting Interconnection Party to remedy such Default and specifically perform its duties and obligations hereunder in accordance with the terms and conditions hereof, (b) withhold payments, (c) suspend performance hereunder, and (d) exercise such other rights and remedies as it may have in equity or at law; provided, however, that the Transmission Provider shall not terminate the Interconnection Service Agreement due to the failure of Interconnection Customer to make a payment hereunder unless such failure could reasonably be expected to have a material adverse effect on the Interconnected Transmission Owner.

  • RIGHT TO ASSURANCE Whenever one party to the Contract in good faith has reason to question the other party’s intent to perform, demand may be made to the other party for written assurance of the intent to perform. In the event that no assurance is given within the time specified after demand is made, the demanding party may treat this failure as an anticipatory repudiation of the Contract.

  • Performance Requirements 1. Neither Party may impose or enforce any of the following requirements, or enforce any commitment or undertaking, in connection with the establishment, acquisition, expansion, management, conduct or operation of an investment of an investor of a Party or of a non-Party in its territory:

  • Appropriation of Performance Security Upon occurrence of a Concessionaire Default, the Authority shall, without prejudice to its other rights and remedies hereunder or in law, be entitled to invoke, encash and appropriate the relevant amounts from the Performance Security as Damages for such Concessionaire Default. Upon such invocation, encashment and appropriation from the Performance Security, the Concessionaire shall, within [30 (thirty)] days thereof, replenish, in case of partial appropriation, to its original level the Performance Security, and in case of appropriation of the entire Performance Security provide a fresh Performance Security, as the case may be, and the Concessionaire shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate this Agreement in accordance with Article 37. Upon replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Concessionaire shall be entitled to an additional Cure Period of [90 (ninety)] days for remedying the Concessionaire Default, and in the event of the Concessionaire not curing its default within such Cure Period, the Authority shall be entitled to invoke, encash and appropriate such Performance Security as Damages, and to terminate this Agreement in accordance with Article 37.

  • System for Award Management (XXX) Requirement Alongside a signed copy of this Agreement, Grantee will provide Florida Housing with a XXX.xxx proof of registration and Commercial and Government Entity (CAGE) number. Grantee will continue to maintain an active XXX registration with current information at all times during which it has an active award under this Agreement.

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