Common use of SECURITY DEPOSIT FOR THE EQUIPMENT Clause in Contracts

SECURITY DEPOSIT FOR THE EQUIPMENT. 17.1. At the time of supplying the Equipment to the Operator, the Broadcaster may, at its discretion, require the Operator to pay the Security Deposit against delivery of the Equipment. The Broadcaster may require the Operator to pay such amount as the Security Deposit as may be determined by the Broadcaster from time to time, for each digital satellite receiver and/or IRD and/or PIRD provided by the Broadcaster to the Operator under this Agreement. Such Security Deposit amount shall be refunded by the Broadcaster to the Operator upon expiry or earlier termination of the Agreement, subject to the Operator returning the Equipment in perfect working condition (reasonable wear and tear acceptable) and also subject to the Broadcaster setting off the refundable security deposit amount, or part thereof, with any amount receivable by the Broadcaster from the Operator on such date of expiry or termination of the Agreement.

SECURITY DEPOSIT FOR THE EQUIPMENT. 17.1. At the time of supplying the Equipment to the Operator, the Broadcaster may, at its discretion, require the Operator to pay the Security Deposit against delivery of the Equipment. The Broadcaster may require the Operator to pay such amount as the Security Deposit as may be determined by the Broadcaster from time to time, for each digital satellite receiver and/or IRD and/or PIRD provided by the Broadcaster to the Operator under this Agreement. Such Security Deposit amount shall be refunded by the Broadcaster to the Operator upon expiry or earlier termination of the Agreement, subject to the Operator returning the Equipment in perfect working condition (reasonable wear and tear acceptable) and also subject to the Broadcaster setting off the refundable security deposit amount, or part thereof, with any amount receivable by the Broadcaster from the Operator on such date of expiry or termination of the Agreement.