Common use of Security for Utility Adjustment Costs; Insurance Clause in Contracts

Security for Utility Adjustment Costs; Insurance. 6.8.9.1 Upon request from a Utility Owner entitled to reimbursement of Utility Adjustment costs, DB Contractor shall, at its sole cost, provide security for such reimbursement by way of a payment bond, letter of credit or retention account, in such amount and on such terms as are negotiated in good faith between DB Contractor and the Utility Owner.

Security for Utility Adjustment Costs; Insurance. 6.8.9.1 Upon request from a Utility Owner entitled to reimbursement of Utility Adjustment costs, DB Contractor shall, at its sole cost, provide security for such reimbursement by way of a payment bond, letter of credit or retention account, in such amount and on such terms as are negotiated in good faith between DB Contractor and the Utility OwnerOwner (or between TxDOT, DB Contractor, and the City of Dallas, where the Utility Owner is the City of Dallas).