Security for System Removal Sample Clauses

Security for System Removal. Twelve (12) months prior to the expiration of the Term, Licensee shall provide Trustees with an estimate of the cost to remove the System and restore the Site and Licensed Area in accordance with the Section 13.1. Licensee and Trustees shall then meet and confer within thirty (30) calendar days after such estimate is provided to resolve any concerns regarding such removal and the amount of the estimated cost, and a revised estimate taking those concerns into account shall then constitute the final restoration cost estimate. Licensee shall then either provide a performance bond covering such final restoration cost estimate or establish a cash escrow account with an acceptable financial institution subject to approval of Trustees of the escrow instructions for accessing the funds into which a portion of payments under the Agreement necessary to equal the estimate of the cost to remove the System and restore the Site and Licensed Area in accordance with the Section 13.1 during the remainder of the Term shall be deposited by Trustees for amounts otherwise due to Licensee for Electricity delivered to Trustees until the escrow reaches the final restoration cost estimate. The escrow account shall serve as the security for the restoration of the Site, and such funds shall be released to Licensee when the Site and Licensed Area restoration are accepted by Trustees. In event that Licensee fails to fulfill its obligations under Section 13.1, Trustees shall have the right to all the funds in the escrow account for purposes of removing the System and restoring the Licensed Area and Site. Interest on the escrow account shall be retained in the escrow account for the benefit of whichever Party is entitled to the funds in the escrow account
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Security for System Removal. No less than three (3) years prior to the expiration of the Term, LICENSEE shall provide the DGS with the estimated cost to remove the System and restore the Licensed Area in accordance with Section‌ 11.1. LICENSEE and the DGS and HOST shall then meet and confer within thirty
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Security for System Removal. Three (3) years prior to the expiration of this SLA, LICENSEE shall provide UNIVERSITY a “System Removal Work Letter”, including an estimate of the cost to remove the System and restore the Facility at the end of the Term. LICENSEE and UNIVERSITY shall then meet and confer within ten (10) days after such estimate is provided to resolve any concerns regarding such estimated cost, and a revised estimate taking those concerns into account shall then constitute the final restoration cost estimate. LICENSEE shall then provide either (i) a performance bond covering such final restoration cost estimate, or (ii) an account established with a financial institution reasonably satisfactory to UNIVERSITY, requiring the signatures of both LICENSEE and UNIVERSITY for all withdrawals, into which payments under the SPPA shall be deposited by UNIVERSITY until the balance in such account reaches the final restoration cost estimate. Such account shall serve as the security for the restoration of the Facility, and such funds shall be released to LICENSEE when the Facility restoration is accepted by UNIVERSITY. In event of a default by LICENSEE, UNIVERSITY shall have the right to use all the funds in the escrow account for purposes of restoring the Facility. Interest on the escrow account shall be retained in the account for the benefit of whichever party is entitled to the funds in the account.
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Related to Security for System Removal

  • Snow Removal Only the right of way will be plowed in the parking lots. Licensee is responsible for removing snow around his/her own vehicle (without causing damage or inconvenience to any other vehicles lawfully on the Premises).

  • Provision and Removal of Equipment B2.1 The Contractor shall provide all the Equipment necessary for the supply of the Services.

  • Conduct and Removal While performing the Project, Grantee Agents must comply with applicable Contract terms, State and federal rules, regulations, HHSC’s policies, and HHSC’s requests regarding personal and professional conduct; and otherwise conduct themselves in a businesslike and professional manner. If HHSC determines in good faith that a particular Grantee Agent is not conducting himself or herself in accordance with the terms of the Contract, HHSC may provide Grantee with notice and documentation regarding its concerns. Upon receipt of such notice, Xxxxxxx must promptly investigate the matter and, at HHSC’s election, take appropriate action that may include removing the Grantee Agent from performing the Project.

  • Responsibility for Subcustodians Except as provided in the last sentence of this Section 8.6, the Custodian shall be liable to the Fund for any loss or damage to the Fund caused by or resulting from the acts or omissions of any Subcustodian to the extent that such acts or omissions would be deemed to be negligence, gross negligence or willful misconduct in accordance with the terms of the relevant subcustodian agreement under the laws, circumstances and practices prevailing in the place where the act or omission occurred. The liability of the Custodian in respect of the countries and Subcustodians designated by the Custodian, from time to time on the Global Custody Network Listing shall be subject to the additional condition that the Custodian actually recovers such loss or damage from the Subcustodian.

  • Trash Removal The Licensee shall remove trash from the Cafeteria anytime that waste canisters are full or not less than once after every meal; whichever is greater. Any alteration to this provision must be directed in writing by the Licensing Officer.

  • Contractor Responsibility for System Agency’s Termination Costs If the System Agency terminates the Contract for cause, the Contractor shall be responsible to the System Agency for all costs incurred by the System Agency and the State of Texas to replace the Contractor. These costs include, but are not limited to, the costs of procuring a substitute vendor and the cost of any claim or litigation attributable to Contractor’s failure to perform any Work in accordance with the terms of the Contract.

  • OIG Removal of IRO In the event OIG has reason to believe the IRO does not possess the qualifications described in Paragraph B, is not independent and objective as set forth in Paragraph E, or has failed to carry out its responsibilities as described in Paragraph C, OIG shall notify Provider in writing regarding OIG’s basis for determining that the IRO has not met the requirements of this Appendix. Provider shall have 30 days from the date of OIG’s written notice to provide information regarding the IRO’s qualifications, independence or performance of its responsibilities in order to resolve the concerns identified by OIG. If, following OIG’s review of any information provided by Provider regarding the IRO, OIG determines that the IRO has not met the requirements of this Appendix, OIG shall notify Provider in writing that Provider shall be required to engage a new IRO in accordance with Paragraph A of this Appendix. Provider must engage a new IRO within 60 days of its receipt of OIG’s written notice. The final determination as to whether or not to require Provider to engage a new IRO shall be made at the sole discretion of OIG.

  • Selection of Subcontractors, Procurement of Materials and Leasing of Equipment The contractor shall not discriminate on the grounds of race, color, religion, sex, national origin, age or disability in the selection and retention of subcontractors, including procurement of materials and leases of equipment. The contractor shall take all necessary and reasonable steps to ensure nondiscrimination in the administration of this contract. a. The contractor shall notify all potential subcontractors and suppliers and lessors of their EEO obligations under this contract. b. The contractor will use good faith efforts to ensure subcontractor compliance with their EEO obligations.

  • Resignation and Removal of the Depositary The Depositary may at any time resign as Depositary hereunder by written notice of its election so to do delivered to the Company, such resignation to take effect upon the appointment of a successor depositary and its acceptance of such appointment as hereinafter provided. The Depositary may at any time be removed by the Company by 120 days prior written notice of such removal, to become effective upon the later of (i) the 120th day after delivery of the notice to the Depositary and (ii) the appointment of a successor depositary and its acceptance of such appointment as hereinafter provided. In case at any time the Depositary acting hereunder shall resign or be removed, the Company shall use its best efforts to appoint a successor depositary, which shall be a bank or trust company having an office in the Borough of Manhattan, The City of New York. Every successor depositary shall execute and deliver to its predecessor and to the Company an instrument in writing accepting its appointment hereunder, and thereupon such successor depositary, without any further act or deed, shall become fully vested with all the rights, powers, duties and obligations of its predecessor; but such predecessor, nevertheless, upon payment of all sums due it and on the written request of the Company shall execute and deliver an instrument transferring to such successor all rights and powers of such predecessor hereunder, shall duly assign, transfer and deliver all right, title and interest in the Deposited Securities to such successor and shall deliver to such successor a list of the Owners of all outstanding American Depositary Shares. Any such successor depositary shall promptly mail notice of its appointment to the Owners. Any corporation into or with which the Depositary may be merged or consolidated shall be the successor of the Depositary without the execution or filing of any document or any further act.

  • Performing Agency Responsibility for System Agency’s Termination Costs If the System Agency terminates the Contract for cause, the Performing Agency shall be responsible to the System Agency for all costs incurred by the System Agency and the State of Texas to replace the Performing Agency. These costs include, but are not limited to, the costs of procuring a substitute vendor and the cost of any claim or litigation attributable to Performing Agency’s failure to perform any Work in accordance with the terms of the Contract.

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