Common use of Security for Payment Clause in Contracts

Security for Payment. 16.01 Unless Company has maintained an agreement similar to this Agreement with Authority during the 18 months prior to the commencement date of this Agreement without the occurrence of any act or omission that would have been an event of default enumerated in this Agreement, Company will secure payment for the rents, tax assessments, charges, fees and other payments required hereunder. In such event, Company will comply with either of the following two options prior to the commencement of this Agreement and maintain such security in effect during the term of this Agreement: A. Company will post with Authority a separate surety bond to be maintained throughout the term of this Agreement in an amount equal to three months’ rent of the Premises as required hereunder. Such bond will be issued by a surety company acceptable to Authority and authorized to do business in the State of Florida, and will be in a form and content satisfactory to Authority; or B. Company will deliver to Authority a separate standby letter of credit drawn in favor of Authority upon a bank that is satisfactory to Authority and that is authorized to do business in the State of Florida. Said standby letter of credit will be in an amount equal to three months’ rent of the Premises as required hereunder. 16.02 In the event Company fails to perform the payment terms and conditions of this Agreement, Authority, in addition to any other rights and remedies available to Authority at law or in equity, may at any time apply the security or any part thereof toward the payment of Company's obligations under this Agreement. In such an event, within five days after notice, Company will restore the security to its original amount. Authority will not be required to pay Company any interest on the security. 16.03 In the event Company has satisfactorily performed all payment terms, conditions and covenants contained herein for 18 consecutive months, any security provided pursuant to this section may be returned to Company upon written request. Upon the expiration of this Agreement, Authority will return any security provided pursuant to this Section within 90 days subject to any outstanding rents, fees or other payments due hereunder. 16.04 Notwithstanding the foregoing, Authority will have the right in its sole discretion to impose or re- impose the requirements of Section .01 above on Company upon occurrence of any act or omission that would have been an event of default enumerated in this Agreement.

Security for Payment. 16.01 Unless Company has maintained an agreement similar to this Agreement with Authority during the 18 months prior to the commencement date of this Agreement without the occurrence of any act or omission that would have been an event of default enumerated in this Agreement, Company will secure payment for the rents, tax assessments, charges, fees and other payments required hereunder. In such event, Company will comply with either of the following two options prior to the commencement of this Agreement and maintain such security in effect during the term of this Agreement: A. Company will post with Authority a separate surety bond to be maintained throughout the term of this Agreement in an amount equal to three months’ rent of the Premises as required hereunder. Such bond will be issued by a surety company acceptable to Authority and authorized to do business in the State of Florida, and will be in a form and content satisfactory to Authority; or B. Company will deliver to Authority a separate standby irrevocable letter of credit drawn in favor of Authority upon a bank that is satisfactory to Authority and that is authorized to do business in the State of Florida. Said standby irrevocable letter of credit will be in an amount equal to three months’ rent of the Premises as required hereunder. 16.02 In the event Company fails to perform the payment terms and conditions of this Agreement, Authority, in addition to any other rights and remedies available to Authority at law or in equity, may at any time apply the security or any part thereof toward the payment of Company's obligations under this Agreement. In such an event, within five days after notice, Company will restore the security to its original amount. Authority will not be required to pay Company any interest on the security. 16.03 In the event Company has satisfactorily performed all payment terms, conditions and covenants contained herein for 18 consecutive months, any security provided pursuant to this section may be returned to Company upon written request. Upon the expiration of this Agreement, Authority will return any security provided pursuant to this Section within 90 30 days subject to any outstanding rents, fees or other payments due hereunder. 16.04 Notwithstanding the foregoing, Authority will have the right in its sole discretion to impose or re- impose the requirements of Section .01 above on Company upon occurrence of any act or omission that would have been an event of default enumerated in this Agreement.

Security for Payment. 16.01 8.01 Unless Company has maintained an agreement similar to this Agreement with Authority during the 18 months prior to the commencement date of this Agreement without the occurrence of any act or omission that would have been an event of default enumerated in this Agreement, Company will secure payment for in an amount equal to the estimate of three months' rents, tax assessmentsfees, charges, fees charges and other payments required hereunder. In such event, Company will comply with either of the following two options prior to the commencement of this Agreement and maintain such security in effect during the term of this Agreement: A. Company will post with Authority a separate surety bond to be maintained throughout the term of this Agreement in an amount equal to the estimate of three months’ rent of the Premises ' rents, fees, charges and other payments as required hereunder. Such bond will be issued by a surety company acceptable to Authority and authorized to do business in the State of Florida, and will be in a form and content satisfactory to Authority; or B. Company will deliver to Authority a separate standby irrevocable letter of credit drawn in favor of Authority upon a bank that is satisfactory to Authority and that is authorized to do business in the State of Florida. Said standby irrevocable letter of credit will be in an amount equal to the estimate of three months’ rent of the Premises ' rents, fees, charges and other payments as required hereunder. 16.02 8.02 In the event Company fails to perform the payment terms and conditions of this Agreement, Authority, in addition to any other rights and remedies available to Authority at law or in equity, may at any time apply the security or any part thereof toward the payment of Company's obligations under this Agreement. In such an event, within five days after notice, Company will restore the security to its original amount. Authority will not be required to pay Company any interest on the security. 16.03 8.03 In the event Company has satisfactorily performed all payment terms, conditions and covenants contained herein for 18 consecutive months, any security provided pursuant to this section may Article will be returned to Company upon written request. Upon the expiration of this Agreement, Authority will return any security provided pursuant to this Section Article within 90 30 days subject to any outstanding rents, fees fees, charges or other payments due hereunder. 16.04 8.04 Notwithstanding the foregoing, Authority will have the right in its sole discretion to impose or re- impose the requirements of Section .01 above this Article on Company upon occurrence of any act or omission that would have been an event of default enumerated in this Agreement.

Security for Payment. 16.01 8.01 Unless Company has maintained an agreement similar to this Agreement with Authority during the 18 months prior to the commencement effective date of this Agreement without the occurrence of any act or omission that would have been an event of a default enumerated under this Agreement if this Agreement had been in this Agreementeffect during that period, Company will secure payment for the rents, tax assessments, charges, fees and other payments required hereunder. In such event, Company will comply with either of the following two options prior to provide Authority on or before the commencement date of this Agreement and maintain such with a contract bond, standby letter of credit, or other similar security in effect during the term of this Agreement: A. Company will post with acceptable to Authority a separate surety bond to be maintained throughout the term of this Agreement in an amount equal to the estimate of three months’ rent fees and charges payable by Company under this Agreement, to guarantee the faithful performance by Company of its obligations under this Agreement and the Premises payment of all fees and charges due hereunder (hereinafter referred to as required hereunder“Contract Security”). Company will be obligated to maintain such Contract Security in effect until the expiration of 18 consecutive months during which period Company commits no default under this Agreement. Such bond will be issued by a surety company acceptable to Authority and authorized to do business in the State of Florida, and Contract Security will be in a form and content satisfactory to Authority; or B. Company will deliver to Authority with a separate standby letter of credit drawn in favor of Authority upon a bank that is satisfactory company acceptable to Authority and that is authorized licensed to do business in the State of Florida. Said standby letter In the event that any such Contract Security is for a period less than the full period required hereunder or if Contract Security is canceled, Company will provide a renewal or replacement Contract Security for the remaining required period at least 60 days prior to the date of credit will such expiration or cancellation. 8.02 In the event Authority is required to draw down or collect against Company's Contract Security for any reason, Company will, within ten calendar days after Authority's written demand, take such action as may be in an necessary to replenish the existing Contract Security to its original amount (three months’ estimated fees and charges) or to provide additional or supplemental Contract Security from another source so that the aggregate of all Contract Security is equal to three months’ rent of the Premises as required hereunderestimated fees and charges payable by Company pursuant to this Article. 16.02 8.03 In addition to the event foregoing, upon the occurrence of any Company fails to perform the payment terms and conditions of act or omission that is a default under this Agreement, or upon Company’s election to assume this Agreement under Federal Bankruptcy Rules and Regulations and Federal Judgeship Act of 1984 or any successor statute, as such may be amended, supplemented, or replaced, Authority, in addition by written notice to any other rights and remedies available to Authority at law or in equity, may Company given at any time apply the security or any part thereof toward the payment of Company's obligations under this Agreement. In such an event, within five days after notice, Company will restore the security to its original amount. Authority will not be required to pay Company any interest on the security. 16.03 In the event Company has satisfactorily performed all payment terms, conditions and covenants contained herein for 18 consecutive months, any security provided pursuant to this section may be returned to Company upon written request. Upon the expiration of this Agreement, Authority will return any security provided pursuant to this Section within 90 days subject of the date such event becomes known to any outstanding rentsAuthority, fees or other payments due hereunder. 16.04 Notwithstanding the foregoing, Authority will have the right in its sole discretion to may impose or re- impose the requirements of Section .01 above Article 8.01 on Company. In such event, Company upon occurrence will provide Authority with the required Contract Security within 15 days from its receipt of any act such written notice and will thereafter maintain such Contract Security in effect until the expiration of a period of 18 consecutive months during which Company commits no additional default under in this Agreement or omission that would have been an event the termination of default enumerated bankruptcy proceedings, whichever is later. 8.04 If Company fails to obtain and keep in force such Contract Security required hereunder, such failure will be grounds for immediate termination of this Agreement. Authority's rights under this Article will be in addition to all other rights and remedies provided to Authority under this Agreement. 8.05 Subject to the provisions of this Article, the Contract Security will be returned within 90 days following the expiration of this Agreement, or upon written request following the completion of 18 consecutive months of satisfactory performance by Company of all terms, conditions, and covenants contained herein.

Security for Payment. 16.01 8.01 Unless Company has maintained an agreement similar to this Agreement with Authority during the 18 months prior to the commencement date of this Agreement without the occurrence of any act or omission that would have been an event of default enumerated in this Agreement, Company will secure payment for in an amount equal to the rentsestimate of three months' fees, tax assessments, charges, fees charges and other payments required hereunder. In such event, Company will comply with either of the following two options prior to the commencement of this Agreement and maintain such security in effect during the term of this Agreement: A. Company will post with deliver to Authority a separate surety payment bond to be maintained throughout the term of this Agreement in an amount equal to the estimate of three months’ rent of the Premises ' fees, charges and other payments as required hereunder. Such bond will be issued by a surety company acceptable to Authority and authorized to do business in the State of Florida, and will be in a form and content satisfactory to Authority; or B. Company will deliver to Authority a separate standby letter of credit drawn in favor of Authority upon a bank that is satisfactory to Authority and that is authorized to do business in the State of Florida. Said standby letter of credit will be in an amount equal to the estimate of three months’ rent of the Premises ' fees, charges and other payments as required hereunder. 16.02 8.02 In the event Company fails to perform the payment terms and conditions of this Agreement, Authority, in addition to any other rights and remedies available to Authority at law or in equity, may at any time apply the security or any part thereof toward the payment of Company's obligations under this Agreement. In such an event, within five days after notice, Company will restore the security to its original amount. Authority will not be required to pay Company any interest on the security. 16.03 8.03 In the event Company has satisfactorily performed all payment terms, conditions and covenants contained herein for 18 consecutive months, any security provided pursuant to this section may Article will be returned to Company upon written request. Upon the expiration of this AgreementAgreement and Company’s written request, Authority will return any security provided pursuant to this Section Article within 90 days subject to any outstanding rentsfees, fees charges or other payments due hereunder. 16.04 8.04 Notwithstanding the foregoing, Authority will have the right in its sole discretion to impose or re- impose the requirements of Section .01 above this Article on Company upon occurrence of any act or omission that would have been an event of default enumerated in this Agreement.

Security for Payment. 16.01 8.01 Unless Company has maintained an agreement similar to this Agreement with Authority during the 18 months prior to the commencement effective date of this Agreement without the occurrence of any act or omission that would have been an event of a default enumerated in under this Agreement, Company will secure payment for the rents, tax assessments, charges, fees and other payments required hereunder. In such eventif this Agreement had been in effect during that period, Company will comply with either of the following two options prior to provide Authority on or before the commencement date of this Agreement and maintain such with a contract bond, irrevocable letter of credit or other similar security in effect during the term of this Agreement: A. Company will post with acceptable to Authority a separate surety bond to be maintained throughout the term of this Agreement in an amount equal to the estimate of three months’ rent fees and charges (excluding PFCs), payable by Company under this Agreement, to guarantee the faithful performance by Company of its obligations under this Agreement and the Premises payment of all fees and charges due hereunder (hereinafter referred to as required hereunder“Contract Security”). Company will be obligated to maintain such Contract Security in effect until the expiration of 18 consecutive months during which period Company commits no default under this Agreement. Such bond will be issued by a surety company acceptable to Authority and authorized to do business in the State of Florida, and Contract Security will be in a form and content satisfactory to Authority; or B. Company will deliver to Authority with a separate standby letter of credit drawn in favor of Authority upon a bank that is satisfactory company acceptable to Authority and that is authorized licensed to do business in the State of Florida. Said standby letter In the event that any such Contract Security is for a period less than the full period required hereunder or if Contract Security is canceled, Company will provide a renewal or replacement Contract Security for the remaining required period at least 60 days prior to the date of credit will such expiration or cancellation. 8.02 In the event Authority is required to draw down or collect against Company's Contract Security for any reason, Company will, within ten business days after Authority's written demand, take such action as may be in an necessary to replenish the existing Contract Security to its original amount (three months’ estimated fees and charges) or to provide additional or supplemental Contract Security from another source so that the aggregate of all Contract Security is equal to three months’ rent of the Premises as required hereunderestimated fees and charges payable by Company pursuant to this Article. 16.02 8.03 In addition to the event foregoing, upon the occurrence of any Company fails to perform the payment terms and conditions of act or omission that is a default under this Agreement, or upon Company’s election to assume this Agreement under Federal Bankruptcy Rules and Regulations and Federal Judgeship Act of 1984 or any successor statute, as such may be amended, supplemented, or replaced, Authority, in addition by written notice to any other rights and remedies available to Authority at law or in equity, may Company given at any time apply the security or any part thereof toward the payment of Company's obligations under this Agreement. In such an event, within five days after notice, Company will restore the security to its original amount. Authority will not be required to pay Company any interest on the security. 16.03 In the event Company has satisfactorily performed all payment terms, conditions and covenants contained herein for 18 consecutive months, any security provided pursuant to this section may be returned to Company upon written request. Upon the expiration of this Agreement, Authority will return any security provided pursuant to this Section within 90 days subject of the date such event becomes known to any outstanding rentsAuthority, fees or other payments due hereunder. 16.04 Notwithstanding the foregoing, Authority will have the right in its sole discretion to may impose or re- impose the requirements of Section .01 above Paragraph 8.01 on Company. In such event, Company upon occurrence will provide Authority with the required Contract Security within 15 days from its receipt of any act such written notice and will thereafter maintain such Contract Security in effect until the expiration of a period of 18 consecutive months during which Company commits no additional default under in this Agreement or omission that would have been an event the termination of default enumerated bankruptcy proceedings, whichever is later. 8.04 If Company fails to obtain and keep in force such Contract Security required hereunder, such failure will be grounds for immediate termination of this Agreement. Authority's rights under this Article will be in addition to all other rights and remedies provided to Authority under this Agreement. 8.05 Subject to the provisions of this Article, the surety bond or the irrevocable letter of credit will be returned within 30 days following the expiration of this Agreement, or upon written request following the completion of 18 consecutive months of satisfactory performance by Company of all terms, conditions, and covenants contained herein.

Security for Payment. 16.01 Unless Company has maintained an agreement similar to this Agreement with Authority during the 18 months prior to the commencement date of this Agreement without the occurrence of any act or omission that would have been an event of default enumerated in this Agreement, Company will secure payment for the rents, tax assessments, charges, fees and other payments required hereunder. In such event, Company will comply with either of the following two options prior to the commencement of this Agreement and maintain such security in effect during the term of this Agreement: A. Company will post with Authority a separate surety bond to be maintained throughout the term of this Agreement in an amount equal to three months’ rent of the Premises as required hereunder. Such bond will be issued by a surety company acceptable to Authority and authorized to do business in the State of Florida, and will be in a form and content satisfactory to Authority; or B. Company will deliver to Authority a separate standby irrevocable letter of credit drawn in favor of Authority upon a bank that is satisfactory to Authority and that is authorized to do business in the State of Florida. Said standby irrevocable letter of credit will be in an amount equal to three months’ rent of the Premises as required hereunder. 16.02 In the event Company fails to perform the payment terms and conditions of this Agreement, Authority, in addition to any other rights and remedies available to Authority at law or in equity, may at any time apply the security or any part thereof toward the payment of Company's obligations under this Agreement. In such an event, within five days after notice, Company will restore the security to its original amount. Authority will not be required to pay Company any interest on the security. 16.03 In the event Company has satisfactorily performed all payment terms, conditions and covenants contained herein for 18 consecutive months, any security provided pursuant to this section Section may be returned to Company upon written request. Upon the expiration of this Agreement, Authority will return any security provided pursuant to this Section within 90 30 days subject to any outstanding rents, fees or other payments due hereunder. 16.04 Notwithstanding the foregoing, Authority will have the right in its sole discretion to impose or re- impose the requirements of Section .01 above on Company upon occurrence of any act or omission that would have been an event of default enumerated in this Agreement.

Security for Payment. 16.01 8.01 Unless Company has maintained an agreement similar to this Agreement with Authority during the 18 months prior to the commencement effective date of this Agreement without the occurrence of any act or omission that would have been an event of a default enumerated under this Agreement if this Agreement had been in this Agreementeffect during that period, Company will secure payment for the rents, tax assessments, charges, fees and other payments required hereunder. In such event, Company will comply with either of the following two options prior to provide Authority on or before the commencement date of this Agreement and maintain such with a contract bond, standby letter of credit, or other similar security in effect during the term of this Agreement: A. Company will post with acceptable to Authority a separate surety bond to be maintained throughout the term of this Agreement in an amount equal to the estimate of three months’ rent fees and charges (excluding PFCs), payable by Company under this Agreement, to guarantee the faithful performance by Company of its obligations under this Agreement and the Premises payment of all fees and charges due hereunder (hereinafter referred to as required hereunder“Contract Security”). Company will be obligated to maintain such Contract Security in effect until the expiration of 18 consecutive months during which period Company commits no default under this Agreement. Such bond will be issued by a surety company acceptable to Authority and authorized to do business in the State of Florida, and Contract Security will be in a form and content satisfactory to Authority; or B. Company will deliver to Authority with a separate standby letter of credit drawn in favor of Authority upon a bank that is satisfactory company acceptable to Authority and that is authorized licensed to do business in the State of Florida. Said standby letter In the event that any such Contract Security is for a period less than the full period required hereunder or if Contract Security is canceled, Company will provide a renewal or replacement Contract Security for the remaining required period at least 60 days prior to the date of credit will such expiration or cancellation. 8.02 In the event Authority is required to draw down or collect against Company's Contract Security for any reason, Company will, within ten calendar days after Authority's written demand, take such action as may be in an necessary to replenish the existing Contract Security to its original amount (three months’ estimated fees and charges) or to provide additional or supplemental Contract Security from another source so that the aggregate of all Contract Security is equal to three months’ rent estimated fees and charges payable by Company pursuant to this Article. 8.03 In addition to the foregoing, upon the occurrence of any Company act or omission that is a default under this Agreement, or upon Company’s election to assume this Agreement under Federal Bankruptcy Rules and Regulations and Federal Judgeship Act of 1984 or any successor statute, as such may be amended, supplemented, or replaced, Authority, by written notice to Company given at any time within 90 days of the Premises as date such event becomes known to Authority, may impose or re-impose the requirements of Article 8.01 on Company. In such event, Company will provide Authority with the required hereunderContract Security within 15 days from its receipt of such written notice and will thereafter maintain such Contract Security in effect until the expiration of a period of 18 consecutive months during which Company commits no additional default under in this Agreement or the termination of bankruptcy proceedings, whichever is later. 16.02 In the event 8.04 If Company fails to perform the payment terms obtain and conditions keep in force such Contract Security required hereunder, such failure will be grounds for immediate termination of this Agreement, . Authority, 's rights under this Article will be in addition to any all other rights and remedies available provided to Authority at law or in equity, may at any time apply the security or any part thereof toward the payment of Company's obligations under this Agreement. In such an event, within five days after notice, Company will restore the security to its original amount. Authority will not be required to pay Company any interest on the security. 16.03 In 8.05 Subject to the event Company has satisfactorily performed all payment termsprovisions of this Article, conditions and covenants contained herein for 18 consecutive months, any security provided pursuant to this section may the Contract Security will be returned to Company upon written request. Upon within 90 days following the expiration of this Agreement, Authority will return any security provided pursuant to this Section within 90 days subject to any outstanding rentsor upon written request following the completion of 18 consecutive months of satisfactory performance by Company of all terms, fees or other payments due hereunderconditions, and covenants contained herein. 16.04 Notwithstanding the foregoing, Authority will have the right in its sole discretion to impose or re- impose the requirements of Section .01 above on Company upon occurrence of any act or omission that would have been an event of default enumerated in this Agreement.

Security for Payment. 16.01 8.01 Unless Company has maintained an agreement similar to this Agreement with Authority during the 18 months prior to the commencement date of this Agreement without the occurrence of any act or omission that would have been an event of default enumerated in this Agreement, Company will secure payment for in an amount equal to the rentsestimate of three months' fees, tax assessments, charges, fees charges and other payments required hereunder. In such event, Company will comply with either of the following two options prior to the commencement of this Agreement and maintain such security in effect during the term of this Agreement: A. Company will post with deliver to Authority a separate surety payment bond to be maintained throughout the term of this Agreement in an amount equal to the estimate of three months’ rent of the Premises ' fees, charges and other payments as required hereunder. Such bond will be issued by a x surety company acceptable to Authority and authorized to do business in the State of Florida, and will be in a form and content satisfactory to Authority; or B. Company will deliver to Authority a separate standby letter of credit drawn in favor of Authority upon a bank that is satisfactory to Authority and that is authorized to do business in the State of Florida. Said standby letter of credit will be in an amount equal to the estimate of three months’ rent of the Premises ' fees, charges and other payments as required hereunder. 16.02 8.02 In the event Company fails to perform the payment terms and conditions of this Agreement, Authority, in addition to any other rights and remedies available to Authority at law or in equity, may at any time apply the security or any part thereof toward the payment of Company's obligations under this Agreement. In such an event, within five days after notice, Company will restore the security to its original amount. Authority will not be required to pay Company any interest on the security. 16.03 8.03 In the event Company has satisfactorily performed all payment terms, conditions and covenants contained herein for 18 consecutive months, any security provided pursuant to this section may Article will be returned to Company upon written request. Upon the expiration of this AgreementAgreement and Company’s written request, Authority will return any security provided pursuant to this Section Article within 90 days subject to any outstanding rentsfees, fees charges or other payments due hereunder. 16.04 8.04 Notwithstanding the foregoing, Authority will have the right in its sole discretion to impose or re- impose the requirements of Section .01 above this Article on Company upon occurrence of any act or omission that would have been an event of default enumerated in this Agreement.

Security for Payment. 16.01 Unless Company has maintained an agreement similar To secure payment of all fees and expenses payable to Custodian hereunder, including but not limited to amounts payable pursuant to indemnification provisions and to the last paragraph of Section 2, the Customer hereby grants to Custodian a continuing security interest in and right to setoff against the Account and all Property held therein from time to time in the full amount of such obligations; provided that, if the Account consists of more than one portfolio and the obligations secured pursuant to this Agreement with Authority during the 18 months prior Section 16 can be allocated to the commencement date of this Agreement without the occurrence of any act or omission that would have been an event of default enumerated in this Agreementa specific portfolio, Company will secure payment for the rents, tax assessments, charges, fees and other payments required hereunder. In such event, Company will comply with either of the following two options prior to the commencement of this Agreement and maintain such security in effect during the term interest and right of this Agreement: A. Company will post with Authority a separate surety bond to be maintained throughout the term of this Agreement in an amount equal to three months’ rent of the Premises as required hereunder. Such bond setoff will be issued by a surety company acceptable limited to Authority and authorized any amounts owned hereunder, Custodian shall be entitled to do business use available Cash in the State of FloridaAccount or such applicable portion thereof held for a specific portfolio, as the case may be, and will be in a form and content satisfactory to Authority; or B. Company will deliver to Authority a separate standby letter dispose of credit drawn in favor of Authority upon a bank that is satisfactory to Authority and that is authorized to do business Securities in the State of FloridaAccount or such applicable portion thereof as is necessary. Said standby letter of credit will be in an amount equal to three months’ rent of the Premises as required hereunder. 16.02 In the event Company fails Securities in the Account or such applicable portion thereof are insufficient to perform discharge such obligations, the payment terms Customer hereby grants Custodian a continuing security interest in and conditions right of this Agreementsetoff against the balance from time to time in any non-custodian account of the Customer (the "Pledged Balances"), Authorityand Custodian may, in addition to any other rights and remedies available to Authority at law or in equity, may at any time or from time to time at Custodian's sole option and without notice appropriate and apply the security or any part thereof toward the payment of Company's obligations under this Agreementsuch obligations, the Pledged Balances. If at any time Property in the Account or such applicable portion thereof and the Pledge Balances are insufficient to fully collateralize such obligations, Customer shall provide to Custodian additional collateral in form and amount satisfactory to Custodian and shall grant to Custodian a continuing security interest in and right of setoff against such collateral. In any such an event, within five days after notice, Company will restore the security to its original amount. Authority will not be required to pay Company any interest on the security. 16.03 In the event Company has satisfactorily performed all payment terms, conditions case and covenants contained herein for 18 consecutive months, any security provided pursuant to this section may be returned to Company upon written request. Upon the expiration of this Agreement, Authority will return any security provided pursuant to this Section within 90 days subject to any outstanding rents, fees or other payments due hereunder. 16.04 Notwithstanding without limiting the foregoing, Authority will have Custodian shall be entitled to take such other action(s) or exercise such other options, powers and rights as Custodian now or hereafter has a secured creditor under the right in its sole discretion to impose New York Uniform Commercial Code or re- impose the requirements of Section .01 above on Company upon occurrence of any act or omission that would have been an event of default enumerated in this Agreementother applicable law.

Security for Payment. 16.01 Unless Company has maintained The Guild is entitled to require a Producer to post, no earlier than thirty (30) days before the commencement of principal photography, security for payment sufficient to cover: a) the Production Fee, and and retirement payments required under this Agreement. The said security shall take the form of a cash deposit to be held in trust by the Guild, in an agreement similar to this Agreement with Authority during bearing account, and all the 18 months prior accrued interest shall be the property of the Producer. At the Producer’s election, the security for payment may take the form of one or more irrevocable letters of credit in favour of the Guild, drawn on a Canadian chartered bank. The face of the letter of credit shall specify that: the Guild shall be entitled, upon written notice to the commencement date Producer, to draw down on the letter of this Agreement without credit, The letter shall stipulate the occurrence of any act or omission amount claimed and that would have been an event such amount is due to the Guild as a result of default enumerated by the Producer of its payment obligations as specified in this the Agreement, Company will secure payment for ; the rents, tax assessments, charges, fees and other payments required hereunder. In such event, Company will comply with either said letter of the following two options credit shall have a term commencing not sooner than thirty (30) days prior to the commencement of this Agreement principal photography and maintain such security terminating at a mutually agreed date the completion of principal photography; in effect during the term event of this a dispute involving outstanding payments due under the Agreement: A. Company will , the Producer agrees to reissue a letter of credit or to post with Authority a separate surety bond to be maintained throughout the term of this Agreement in an amount equal to three months’ rent of the Premises those amounts in dispute for as required hereunder. Such bond will long as those amounts remain in dispute; and when a bona fide dispute arises, all remedies and recourses provided by this Agreement shall be issued by a surety company acceptable to Authority and authorized to do business in the State of Floridaexhausted, and will be in a form and content satisfactory to Authority; or B. Company will deliver to Authority a separate standby letter of credit drawn or an Arbitrator shall rule in favor of Authority upon a bank that is satisfactory to Authority and that is authorized to do business in the State of Florida. Said standby letter of credit will be in an amount equal to three months’ rent of the Premises as required hereunder. 16.02 In the event Company fails to perform the payment terms and conditions of this Agreement, Authority, in addition Writer prior to any other rights disbursement from the Security Payment. A1002 The provisions of and remedies available shall apply equally to Authority at law or in equity, may at any time apply the security or any part thereof toward the payment of Company's obligations under this Agreementa bond. In such A1003 Notwithstanding Article an event, within five days after notice, Company will restore the security to its original amount. Authority will Established Producer as defined herein shall not be required to pay Company any interest on post as security a cash deposit, letter of credit or bond, but shall instead be entitled to provide to the security. 16.03 In Guild a corporate guarantee in the event Company form provided in Xxxxxxxx X0000 An Established Producer shall mean a Producer: whom the or confirms by written notice to be a member in good standing; who has satisfactorily performed all maintained an active production entity with established offices and staff for the previous four years, and has engaged the Guild members for a minimum of eight hours of completed programming; and who has had a good track record for payment termsof Guild members excluding minor infractions a Producer who is wholly-owned by a production which meets the above criteria. A1005 The Producer shall give the Guild notice within thirty (30) days prior to the start of principal photography of its intention to provide a corporate guarantee. A1006 Should the option for a corporate guarantee denied, conditions a timely request having been made, the Producer shall have recourse to the following appeal procedure: the Guild meet with the Producer within five (5) business days of denial of a request; an appeal committee shall be formed which will consist of the Director of Industrial Relations of the Guild and covenants contained herein for 18 consecutive monthsa representative of the or should there be no consensus at this meeting, any security provided pursuant to this section may be returned to Company upon written request. Upon the expiration Producer shall post the cash bond required by the Guild as a gesture of good faith pending the outcome of presenting its case in front of the Joint Standing Committee as set out in Article A5 of this Agreement; and should the Joint Standing Committee rule in the Producer’s favour, Authority the Guild will immediately return any the cash bond, with interest if applicable, and accept the alternative security provided pursuant payment agreed to this Section within 90 days subject to any outstanding rents, fees or other payments due hereunderby the Joint Standing Committee. 16.04 Notwithstanding the foregoing, Authority will have the right in its sole discretion to impose or re- impose the requirements of Section .01 above on Company upon occurrence of any act or omission that would have been an event of default enumerated in this Agreement.

Security for Payment. 16.01 Unless Company has maintained The Guild is entitled to require a Producer to post, no earlier than thirty (30) days before the commencement of principal photography, security for payment sufficient to cover: a) the Production Fee, and insurance and retirement payments required under this Agreement. The said security shall take the form of a cash deposit to be held in trust by the Guild, in an agreement similar to this interest-bearing account, and all the accrued interest shall be the property of the Producer. At the Producer’s election, the security for payment may take the form of one or more irrevocable letters of credit in favour of the Guild, drawn on a Canadian chartered bank. The face of the letter of credit shall specify that: The Writers Guild of Canada Independent Production Agreement with Authority during (IPA) Page of the 18 months prior Guild shall be entitled, upon written notice to the commencement date Producer, to draw down on the letter of this Agreement without credit. The letter shall stipulate the occurrence of any act or omission amount claimed and that would have been an event such amount is due to the Guild as a result of default enumerated by the Producer of its payment obligations as specified in this the Agreement, Company will secure payment for ; the rents, tax assessments, charges, fees and other payments required hereunder. In such event, Company will comply with either said letter of the following two options credit shall have a term commencing not sooner than thirty (30) days prior to the commencement of this Agreement principal photography and maintain such security terminating at a mutually agreed date after the completion of principal photography; in effect during the term event of this a dispute involving outstanding payments due under the Agreement: A. Company will , the Producer agrees to reissue a letter of credit or to post with Authority a separate surety bond to be maintained throughout the term of this Agreement in an amount equal to three months’ rent of the Premises those amounts in dispute for as required hereunder. Such bond will long as those amounts remain in dispute; and when a bona fide dispute arises, all remedies and recourses provided by this Agreement shall be issued by a surety company acceptable to Authority and authorized to do business in the State of Floridaexhausted, and will be in a form and content satisfactory to Authority; or B. Company will deliver to Authority a separate standby letter of credit drawn or an Arbitrator shall rule in favor of Authority upon a bank that is satisfactory to Authority and that is authorized to do business in the State of Florida. Said standby letter of credit will be in an amount equal to three months’ rent of the Premises as required hereunder. 16.02 In the event Company fails to perform the payment terms and conditions of this Agreement, Authority, in addition Writer prior to any other rights disbursement from the Security Payment. A The provisions of and remedies available shall apply equally to Authority at law or in equity, may at any time apply the security or any part thereof toward the payment of Company's obligations under this Agreementa bond. In such A Notwithstanding Article an event, within five days after notice, Company will restore the security to its original amount. Authority will Established Producer as defined herein shall not be required to post as security a cash deposit, letter of credit or bond, but shall instead be entitled to provide to the Guild a corporate guarantee in the form provided in Appendix An Established shall mean a Producer: whom the confirms by written notice to be a member in good standing; who has maintained an active production entity with established offices and staff for the previous four years, and has engaged Guild members or members for a minimum of eight hours of completed programming; and who has had a good track record for payment of Guild members or members excluding minor infractions. A Producer who is wholly-owned by a production entity which meets the above criteria shall be deemed to be an Established Producer. A1005 The Producer shall give the Guild notice within thirty (30) days prior to the start of principal photography of its intention to provide a corporate guarantee Should the option for a corporate guarantee be denied, a timely request having been made, the Producer shall have recourse to the following appeal procedure: the Guild meet with the Producer within five (5) business days of denial of a request; an appeal committee shall be formed which will consist of the Director of Industrial Relations of the Guild and a representative of the should there be no consensus at this meeting, the Producer shall post the cash bond required by the Guild as a gesture of good faith pending the outcome of presenting its case in front of the Joint Standing Committee as set out in Article A5 of this Agreement; and should the Joint Standing Committee rule in the Producer's favour, the Guild will immediately return the cash bond, with interest if applicable, and accept the alternative security payment The Writers Guild of Canada Independent Production Agreement (IPA) Page of agreed to by the Joint Standing Committee ARTICLE All -PAYMENTS To the extent it applies the (and/or Provincial and/or harmonized sales tax) shall be paid in addition to all amounts set out in this agreement. Upon receipt of materials as scheduled in the Writer’s contract, the Producer shall pay Company all sums due to the Writer within fifteen (15) calendar days and no payments shall be contingent upon the acceptance or approval by the Producer of the Writer’s material. When any payment is late, the Producer shall pay that Writer, Story Editor, Story Consultant or the Guild as the case may be, interest on the security. 16.03 overdue sum at the rate of per annum, computed on a monthly basis. A1104 Payment shall be made directly to the Writer, Story Editor or Story Consultant unless written authorization has been received by the Producer from the Writer, Story Editor or Story Consultant authorizing payment to a third party. No portion of any minimum fee provided in this Agreement shall be deferred for any reason. A1106 When making any payment to a Writer, Story Editor or Story Consultant the Producer shall specify the production and the date of contract and the details of the calculation of the payment. A1107 Subject to Article no rights in any Script Material covered by this Agreement shall be conveyed by the Writer to the Producer until the total Script Fee has been received by the Writer, or until the Writer receives notice, in terms of Article that the Producer does not wish the Writer to proceed with the Script and all amounts due up to or upon such termination have been received by the Writer. If the Production Fee is not paid on or before the first day of principal photography, notice of default shall be given to the Producer. If the Producer does not cure such default within seven (7) of receipt of notice, the rights conveyed by the Writer shall revert to the Writer, subject to reconveyance of the rights to the Producer upon payment. A1108 In the event Company has satisfactorily performed all payment termsthat a Writer fails to meet a deadline specified in his or her contract, conditions the Producer may decline to deal further with the Writer, being obliged to pay only for work already completed and covenants contained herein delivered on time. However, if a Writer fails to meet a deadline specified in contract by reason only of the Writer’s incapacity which adversely affects the progress of production in a material way or unreasonable refusal to deliver the Script Material the Producer may elect, by written notice to the Writer, to terminate the Producer’s obligation to accept delivery and pay for 18 consecutive monthsany Script Material due on or after the missed deadline (the “Late Material”), any security provided pursuant notwithstanding that the contract may specifically deny the Producer’s right to this section may terminate. If the Producer delivers such notice, the Producer shall be returned deemed to Company upon written requesthave acquired a license in the Script Material delivered prior to the missed deadline and shall The Writers Guild of Canada Independent Production Agreement (IPA) Page of be entitled to engage one or more other Writers to write the Late Material. Upon Producer shall remain obligated to the expiration of this Agreement, Authority will return any security provided pursuant to this Section within 90 days subject to any outstanding rents, fees or other payments due hereunder. 16.04 Notwithstanding the foregoing, Authority will have the right in its sole discretion to impose or re- impose the requirements of Section .01 above on Company upon occurrence first Writer for share of any act or omission Production Fee and Distribution Royalty which may become due as a consequence of the Producer's use of that would have been an event of default enumerated in this Agreement.first Writer's Script Material. A1109

Security for Payment. 16.01 Unless Company has maintained an agreement similar To secure payment of all fees and expenses payable to Custodian hereunder, including, but not limited to amounts payable pursuant to indemnification provisions and to the last paragraph of Section 2, the Customer hereby grants to Custodian a continuing security interest in and right of setoff against the Account and all Property held therein from time to time in the full amount of such obligations; provided that, if the Account consists of more than one portfolio and the obligations secured pursuant to this Agreement with Authority during the 18 months prior Section 16 can be allocated to the commencement date a specific portfolio, such security interest and right of this Agreement without the occurrence of any act or omission that would have been an event of default enumerated in this Agreement, Company setoff will secure payment be limited to Property held for the rentsaccount of such portfolio only. Should the Customer fail to pay promptly any amounts owed hereunder, tax assessments, charges, fees and other payments required hereunder. In such event, Company will comply with either of the following two options prior Custodian shall be entitled to the commencement of this Agreement and maintain such security in effect during the term of this Agreement: A. Company will post with Authority a separate surety bond to be maintained throughout the term of this Agreement in an amount equal to three months’ rent of the Premises as required hereunder. Such bond will be issued by a surety company acceptable to Authority and authorized to do business use available Cash in the State of FloridaAccount or applicable portion thereof held for a specific portfolio, as the case may be, and will be in a form and content satisfactory to Authority; or B. Company will deliver to Authority a separate standby letter dispose of credit drawn in favor of Authority upon a bank that is satisfactory to Authority and that is authorized to do business Securities in the State Account of Floridasuch applicable portion thereof as is necessary. Said standby letter of credit will be in an amount equal to three months’ rent of the Premises as required hereunder. 16.02 In the event Company fails Securities in the Account or such applicable portion thereof are insufficient to perform discharge such obligations, the payment terms Customer hereby grants Custodian a continuing security interest in and conditions right of this Agreementsetoff against the balance from time to time in any non-custodian account of the Customer (the "Pledged Balances"), Authorityand Custodian may, in addition to any other rights and remedies available to Authority at law or in equity, may at any time from time to time as Custodian's sole option and without notice, appropriate and apply the security or any part thereof toward the payment of Company's obligations under this Agreementsuch obligations, the Pledged Balances. If at any time Property in the Account or such applicable porition thereof and the Pledged Balances are insufficient to fully collateralize such obligations, Customer shall provide to Custodian additional collateral in form and amount satisfactory to Custodian and shall grant to Custodian a continuing security interest in and right of setoff against such collateral. In any such an event, within five days after notice, Company will restore the security to its original amount. Authority will not be required to pay Company any interest on the security. 16.03 In the event Company has satisfactorily performed all payment terms, conditions case and covenants contained herein for 18 consecutive months, any security provided pursuant to this section may be returned to Company upon written request. Upon the expiration of this Agreement, Authority will return any security provided pursuant to this Section within 90 days subject to any outstanding rents, fees or other payments due hereunder. 16.04 Notwithstanding without limiting the foregoing, Authority will have Custodian shall be entitled to take such other action(s) or exercise such other options, powers and rights as Custodian now or hereafter has as a secured creditor under the right in its sole discretion to impose New York Uniform Commercial Code or re- impose the requirements of Section .01 above on Company upon occurrence of any act or omission that would have been an event of default enumerated in this Agreementother applicable law.

Security for Payment. 16.01 Unless Company City has maintained an agreement similar to this Agreement Lease with Authority during the 18 months prior to the commencement date of this Agreement Lease without the occurrence of any act or omission that would have been an event of default enumerated in this AgreementLease, Company City will secure payment for the rentsRents, tax assessments, charges, fees and other payments required hereunder. In such event, Company City will comply with either of the following two options prior to the commencement of this Agreement Lease and maintain such security in effect during the term of this AgreementLease: A. Company City will post with Authority a separate surety bond to be maintained throughout the term of this Agreement Lease in an amount equal to three months’ rent of the Premises as required hereunder. Such bond will be issued by a surety company acceptable to Authority and authorized to do business in the State of Florida, and will be in a form and content satisfactory to Authority; or B. Company City will deliver to Authority a separate standby irrevocable letter of credit drawn in favor of Authority upon a bank that is satisfactory to Authority and that is authorized to do business in the State of Florida. Said standby irrevocable letter of credit will be in an amount equal to three months’ rent of the Premises as required hereunder. 16.02 In the event Company City fails to perform the payment terms and conditions of this AgreementLease, Authority, in addition to any other rights and remedies available to Authority at law or in equity, may at any time apply the security or any part thereof toward the payment of CompanyCity's obligations under this AgreementLease. In such an event, within five days after notice, Company City will restore the security to its original amount. Authority will not be required to pay Company City any interest on the security. 16.03 In the event Company City has satisfactorily performed all payment terms, conditions and covenants contained herein for 18 consecutive months, any security provided pursuant to this section Section may be returned to Company City upon written request. Upon the expiration of this AgreementLease, Authority will return any security provided pursuant to this Section within 90 30 days subject to any outstanding rentsRents, fees or other payments due hereunder. 16.04 Notwithstanding the foregoing, Authority will have the right in its sole discretion to impose or re- impose the requirements of Section .01 above on Company City upon occurrence of any act or omission that would have been an event of default enumerated in this AgreementLease.

Security for Payment. 16.01 Unless Company has maintained an agreement similar Prior to this Agreement the Effective Date, Concessionaire shall post a non- interest bearing security deposit with Authority during the 18 months prior to the commencement date of this Agreement without the occurrence of any act or omission that would have been an event of default enumerated in this Agreement, Company will secure payment for the rents, tax assessments, charges, fees and other payments required hereunder. In such event, Company will comply with either of the following two options prior to the commencement of this Agreement and maintain such security in effect during the term of this Agreement: A. Company will post with Authority a separate surety bond to be maintained throughout the term of this Agreement in an amount equal to three months’ rent (3) months of the Premises first Contract Year Minimum Annual Guarantee ("Security Deposit") which may be adjusted each Contract Year. The Security Deposit shall serve as required hereunder. Such bond will be issued by a surety company acceptable security for the payment of all sums due to Authority and authorized to do business shall also secure the performance of all obligations of Concessionaire hereunder. The Security Deposit shall be either in the State form of Florida(i) cash held on deposit with the Authority in a non- interest bearing account; (ii) a Letter of Credit ("Letter of Credit") or (iii) a Surety Bond ("Bond"). Any Letter of Credit or Bond shall be in form and substance, and will be in a form and content satisfactory to Authority; or B. Company will deliver to Authority a separate standby letter of credit drawn in favor of Authority upon a bank that is containing only those conditions satisfactory to Authority and issued by a bank or surety company that is authorized to do business in the State of Florida. Said standby letter of credit will be in an amount equal to three months’ rent of the Premises as required hereunder. 16.02 In the event Company fails of any failure by Concessionaire to pay any sums, fees, rentals or charges to Authority when due or upon any other failure to perform the payment terms and conditions any of its obligations or other default under this Agreement, Authoritythen, in addition to any other rights and remedies available to Authority at law or in equity, may at Authority shall be entitled to draw on the Security Deposit and apply same to all amounts owed. Upon notice of any time apply such draw, Concessionaire shall immediately replace the Security Deposit with cash, a new Letter of Credit or Bond in the full amount of the Security Deposit required hereunder. The Security Deposit shall be kept in full force and effect throughout the Term of this Agreement and for a period of six (6) months after the termination of this Agreement. Not less than thirty (30) calendar days prior to any expiration date of a Letter of Credit or Bond, Concessionaire shall submit evidence in form satisfactory to Authority that such security instrument has been renewed. Failure to renew a Letter of Credit or any part thereof toward Bond as required by this Article 5.07 shall: (i) entitle Authority to draw down the payment full amount of Company's such Security Deposit, and (ii) constitute a default of this Agreement entitling Authority to all available remedies. The Security Deposit shall not be returned to Concessionaire until all obligations under this AgreementAgreement are performed and satisfied. In such an eventPrior to consent from Authority to any assignment of this Agreement by Concessionaire, within five days after notice, Company will restore the security to its original amount. Authority will not Concessionaire’s assignee shall be required to pay Company any provide a non-interest on bearing Security Deposit to Authority in accordance with the security. 16.03 In the event Company has satisfactorily performed all payment terms, terms and conditions and covenants contained herein for 18 consecutive months, any security provided pursuant to of this section may be returned to Company upon written requestArticle 5.07. Upon The obligations arising under this Article 5.07 shall survive the expiration or termination of this Agreement, Authority will return any security provided pursuant to this Section within 90 days subject to any outstanding rents, fees or other payments due hereunder. 16.04 Notwithstanding the foregoing, Authority will have the right in its sole discretion to impose or re- impose the requirements of Section .01 above on Company upon occurrence of any act or omission that would have been an event of default enumerated in this Agreement.

Security for Payment. 16.01 Unless Company has maintained an agreement similar To secure payment of all fees and expenses payable to Custodian hereunder, including but not limited to amounts payable pursuant to indemnification provisions and to the last paragraph of Section 2, the Customer hereby grants to Custodian a continuing security interest in and right to setoff against the Account and all Property held therein from time to time in the full amount of such obligations; provided that, if the Account consists of more than one fund and the obligations secured pursuant to this Agreement with Authority during the 18 months prior Section 16 can be allocated to the commencement date of this Agreement without the occurrence of any act or omission that would have been an event of default enumerated in this Agreementa specific fund, Company will secure payment for the rents, tax assessments, charges, fees and other payments required hereunder. In such event, Company will comply with either of the following two options prior to the commencement of this Agreement and maintain such security in effect during the term interest and right of this Agreement: A. Company will post with Authority a separate surety bond to be maintained throughout the term of this Agreement in an amount equal to three months’ rent of the Premises as required hereunder. Such bond setoff will be issued by a surety company acceptable limited to Authority and authorized any amounts owned hereunder, Custodian shall be entitled to do business use available Cash in the State of FloridaAccount or such applicable portion thereof held for a specific fund, as the case may be, and will be in a form and content satisfactory to Authority; or B. Company will deliver to Authority a separate standby letter dispose of credit drawn in favor of Authority upon a bank that is satisfactory to Authority and that is authorized to do business Securities in the State of FloridaAccount or such applicable portion thereof as is necessary. Said standby letter of credit will be in an amount equal to three months’ rent of the Premises as required hereunder. 16.02 In the event Company fails Securities in the Account or such applicable portion thereof are insufficient to perform discharge such obligations, the payment terms Customer hereby grants Custodian a continuing security interest in and conditions right of this Agreementsetoff against the balance from time to time in any non-custodian account of the Customer (the "Pledged Balances"), Authorityand Custodian may, in addition to any other rights and remedies available to Authority at law or in equity, may at any time or from time to time at Custodian's sole option and without notice, appropriate and apply the security or any part thereof toward the payment of Company's obligations under this Agreementsuch obligations, the Pledged Balances. If at any time Property in the Account or such applicable portion thereof and the Pledged Balances are insufficient to fully collateralize such obligations, Customer shall provide to Custodian additional collateral in form and amount satisfactory to Custodian and shall grant to Custodian a continuing security interest in and right of setoff against such collateral. In any such an event, within five days after notice, Company will restore the security to its original amount. Authority will not be required to pay Company any interest on the security. 16.03 In the event Company has satisfactorily performed all payment terms, conditions case and covenants contained herein for 18 consecutive months, any security provided pursuant to this section may be returned to Company upon written request. Upon the expiration of this Agreement, Authority will return any security provided pursuant to this Section within 90 days subject to any outstanding rents, fees or other payments due hereunder. 16.04 Notwithstanding without limiting the foregoing, Authority will have Custodian shall be entitled to take such other action(s) or exercise such other options, powers and rights as Custodian now or hereafter has a secured creditor under the right in its sole discretion to impose New York Uniform Commercial Code or re- impose the requirements of Section .01 above on Company upon occurrence of any act or omission that would have been an event of default enumerated in this Agreementother applicable law.

Security for Payment. 16.01 Unless Company has maintained an agreement similar To secure payment of all fees and expenses payable to Custodian hereunder, including but not limited to amounts payable pursuant to indemnification provisions and to the last paragraph of Section 2, the Customer hereby grants to Custodian a continuing security interest in and right to setoff against the Account and all Property held therein from time to time in the full amount of such obligations; provided that, if the Account consists of more than one fund and the obligations secured pursuant to this Agreement with Authority during the 18 months prior Section 16 can be allocated to the commencement date of this Agreement without the occurrence of any act or omission that would have been an event of default enumerated in this Agreementa specific fund, Company will secure payment for the rents, tax assessments, charges, fees and other payments required hereunder. In such event, Company will comply with either of the following two options prior to the commencement of this Agreement and maintain such security in effect during the term interest and right of this Agreement: A. Company will post with Authority a separate surety bond to be maintained throughout the term of this Agreement in an amount equal to three months’ rent of the Premises as required hereunder. Such bond setoff will be issued by a surety company acceptable limited to Authority and authorized any amounts owned hereunder, Custodian shall be entitled to do business use available Cash in the State of FloridaAccount or such applicable portion thereof held for a specific fund, as the case, may be, and will be in a form and content satisfactory to Authority; or B. Company will deliver to Authority a separate standby letter dispose of credit drawn in favor of Authority upon a bank that is satisfactory to Authority and that is authorized to do business Securities in the State of FloridaAccount or such applicable portion thereof as is necessary. Said standby letter of credit will be in an amount equal to three months’ rent of the Premises as required hereunder. 16.02 In the event Company fails Securities in the Account or such applicable portion thereof are insufficient to perform discharge such obligations, the payment terms Customer hereby grants Custodian a continuing security interest in and conditions right of this Agreementsetoff against the balance from time to time in any non-custodian account of the Customer (the "Pledged Balances"), Authorityand Custodian may, in addition to any other rights and remedies available to Authority at law or in equity, may at any time or from time to time at Custodian's sole option and without notice, appropriate and apply the security or any part thereof toward the payment of Company's obligations under this Agreementsuch obligations, the Pledged Balances. If at any time Property in the Account or such applicable portion thereof and the Pledged Balances are insufficient to fully collateralize such obligations, Customer shall provide to Custodian additional collateral in form and amount satisfactory to Custodian and shall grant to Custodian a continuing security interest in and right of setoff against such collateral. In any such an event, within five days after notice, Company will restore the security to its original amount. Authority will not be required to pay Company any interest on the security. 16.03 In the event Company has satisfactorily performed all payment terms, conditions case and covenants contained herein for 18 consecutive months, any security provided pursuant to this section may be returned to Company upon written request. Upon the expiration of this Agreement, Authority will return any security provided pursuant to this Section within 90 days subject to any outstanding rents, fees or other payments due hereunder. 16.04 Notwithstanding without limiting the foregoing, Authority will have Custodian shall be entitled to take such other action(s) or exercise such other options, powers and rights as Custodian now or hereafter has a secured creditor under the right in its sole discretion to impose New York Uniform Commercial Code or re- impose the requirements of Section .01 above on Company upon occurrence of any act or omission that would have been an event of default enumerated in this Agreementother applicable law.