Security for Performance. In the event that Exhibit A Section 4 indicates the need for Consultant to provide additional security for performance of its duties under this Agreement, Consultant shall provide such additional security prior to commencement of its Required Services in the form and on the terms prescribed on Exhibit A, or as otherwise prescribed by the City Attorney.
Security for Performance. In the event that Exhibit A Section 4 indicates the need for Contractor/Service Provider to provide additional security for performance of its duties under this Agreement, Contractor/Service Provider shall provide such additional security prior to commencement of its Required Services in the form and on the terms prescribed on Exhibit A, or as otherwise prescribed by the City Attorney.
Security for Performance. The Owner hereby assigns its interest in the rents from the Project to TCAC as security for the performance of the Owner's obligations under this Agreement. However, until and unless the Owner defaults in its obligations under this Agreement, the Owner is entitled to collect, retain and apply such rents.
Security for Performance. Prior to the Operation Date and thereafter for the full term of this Agreement, Seller will provide Idaho Power with the following:
Security for Performance. The Company and Purchaser hereby ------------------------ acknowledge
(a) that Purchaser has agreed to pledge the Shares to secure the payment of all obligations existing under the Note whether for principal, interest, fees, expenses or otherwise and/or to ensure Purchaser's compliance with the terms and conditions of this Agreement and the Pledge Agreement and (b) that in connection with such pledge, Purchaser shall enter into the Pledge Agreement as of the Closing Date requiring that the certificates evidencing the Shares (the "Certificates") be held by the Company as security for the payment of all obligations existing under the Note, whether for principal, interest, fees, expenses or otherwise, and for Purchaser's compliance with the terms and conditions of this Agreement and the Pledge Agreement. Subject to compliance with the terms and conditions of this Agreement and of the Pledge Agreement, Purchaser shall exercise all rights and privileges of the registered holder of the Shares held by the Company pursuant to the Pledge Agreement and shall be entitled to receive any dividend or other distribution thereon.
Security for Performance. Each Affiliated Partner Group (the "Pledgor Group") shall and hereby does pledge and grant to the other Affiliated Partner Group (the "Pledgee Group") a first priority lien on and security interest in the Pledgor Group's Interests in the Partnership as security for the satisfaction of all the Pledgor Group's liabilities and the payment and performance of all the Pledgor Group's obligations and duties under this Agreement. At any time and from time to time, the Pledgor Group also will promptly execute and deliver all such further agreements, instruments and documents and take all such further action that may be necessary or desirable or that the Pledgee Group may reasonably request in order (i) to perfect and protect the lien and security interest created hereby, including the execution and filing of appropriate financing statements and
1. The Pledgor Group hereby authorizes the Pledgee Group to file, without the signature of such Pledgor Group granting the security interest provided for herein, where permitted by applicable law, at any time the Pledgee Group acting as a secured party deems necessary or appropriate to protect its lien and security interest under this Agreement, one or more financing or continuation statements, and amendments thereto, relating to such lien and security interest. If the Pledgor Group fails to perform any agreement or obligation contained in this Section 11.1., the Pledgee Group may perform, or cause performance of, such agreement or obligation, and the expenses of the Pledgee Group so performing incurred in connection therewith shall be payable to the Pledgee Group, on demand, by the Pledgor Group that has failed to so perform. The Pledgee Group shall not, without the prior written consent of the Pledgor Group, sell, assign, transfer, mortgage, pledge or otherwise encumber any of its rights in the Pledgor Group's Interests as pledged to the Pledgee Group under this Section 11.1. except with regard to a failure by the Pledgor Group to satisfy the Pledgor Group's liabilities, and the payment and performance of all its obligations and duties under this Agreement.
Security for Performance. Affiliated Airline (or Airline on behalf of Affiliated Airline) shall provide the Authority, on the Effective Date, with a direct pay irrevocable letter of credit or other similar security acceptable to the Authority (“Payment Security”) under the terms and conditions of the Space Rental Agreement as if such terms and conditions were set forth herein and applicable to Affiliated Airline and its Air Transportation Business at the Airport hereunder. Airline may provide a single Payment Security for both its obligations and those of Affiliated Airline.
Security for Performance. Seller shall provide and maintain, as described herein, the Early Termination Security Amount specified in Exhibit A, Early Termination Security Amount Schedule for compliance with its payment obligations, for the term of the Agreement. Within five (5) Days after the Commercial Operation Date, Seller shall notify Buyer of the form of payment security that Seller has elected to use for performance of its contractual obligations under this Agreement. Such payment security shall be provided via one of the forms and consistent with the timing provided for in this Subsection 2.2. Any portion of the Early Termination Security Amount, including accumulated interest above the Early Termination Security Amount, remaining upon expiration or termination of this Agreement, after deduction for any payment obligations still owing to Buyer, shall be returned to Seller by Buyer within sixty (60) Days of such expiration or termination. Seller may change the form of such security at any time and from time to time upon reasonable prior notice to Buyer provided that (i) such security is at all times consistent with this Subsection 2.2 and (ii) Seller provides the replacement security instrument prior to terminating or withdrawing the then existing security instrument. The Early Termination Security Amount is intended to safeguard Buyer against undue financial risk associated with loss of Seller provided Product during the term of this Agreement. Notwithstanding the aforementioned referenced safeguard for financial risk associated with loss of Product provided by Seller, Seller shall also be responsible for other damages it may cause to Buyer unrelated to financial risk associated with loss of Product provided by Seller. If Seller selects the Letter of Credit form of providing security, Seller shall provide and maintain a Letter of Credit to Buyer in the amount set forth in Exhibit A within thirty (30) Days after the Commercial Operation Date. All Letters of Credit provided in accordance with this Agreement shall be subject to the following provisions: Unless otherwise agreed in writing by the Parties, each Letter of Credit shall be maintained for the benefit of the Buyer. The Seller shall (i) if necessary to maintain a Letter of Credit throughout the term of this Agreement, renew or cause the renewal of each outstanding Letter of Credit on a timely basis as provided in the relevant Letter of Credit, (ii) if the bank that issued an outstanding Letter of Credit has indicated it...
Security for Performance. No later than the Effective Date, Xxxxxxxxx’x shall provide a performance bond in the amount of one million five hundred thousand dollars ($1,500,000.00) representing the estimate of the security required to assure Xxxxxxxxx’x faithful performance of all obligations hereunder. The performance bond shall apply to all obligations hereunder, regardless of whether additional security for the performance of any obligation as to any or all portions of the Quarry is provided elsewhere in this Agreement. The performance bond shall be issued in favor of the City in case of breach of any obligation by Xxxxxxxxx’x hereunder (following the notice and cure provisions of Section 10.4 herein) to guarantee compensation for any costs and damages incurred by the City in performing Xxxxxxxxx’x obligations hereunder. However, if the XXXXX xxxx referenced in Section 9.7 is increased above nine hundred ninety eight thousand nine hundred and seventy two dollars ($998,972.00), the amount of the performance bond under this Section shall be reduced by a dollar for dollar amount, though in no event shall the performance bond hereunder be less than one million dollars ($1,000,000.00.)
Security for Performance. A. Unless AIRLINE has provided regularly scheduled flights to and from the Airport during the eighteen (18) months prior to the effective date of this Agreement without the occurrence of any act or omission that would have been an event enumerated in Section 12.01 of this Agreement, if this Agreement had been in effect during that period, and any such act or omission remains uncured, AIRLINE shall provide AUTHORITY on the Effective Date of this Agreement with a contract bond, irrevocable letter of credit or other similar security acceptable to AUTHORITY (“Contract Security”) in an amount equal to the estimate of three (3) months’ rentals, fees and charges payable by AIRLINE (excluding PFCs) pursuant to this Article 7, to guarantee the faithful performance by AIRLINE of its obligations under this Agreement and the payment of all rentals, fees and charges due hereunder. AIRLINE shall be obligated to maintain such Contract Security in effect until the expiration of eighteen
