Security Deposit Draws Clause Samples

Security Deposit Draws. Expedia may, at its option, at the expiration or sooner termination of this Agreement, apply any or all of the Security Deposit at any time in order to satisfy any Decolar payment obligations not met within the timeframe set forth herein. Expedia shall not be required to hold the Security Deposit in any separate account, but may commingle the Security Deposit with other funds of Expedia, provided that Expedia shall account for the disposition of all such proceeds at the request of Decolar. If Expedia draws down any amount of the Security Deposit pursuant to the provisions herein (each a “Security Deposit Draw”) Decolar shall within 15 business days of the date of a Security Deposit Draw remit to Expedia an amount equal to the amount of the Security Deposit Draw for purposes of reinstating the Security Deposit to the amount set forth above.