Security Funds. The Development Period Security and Operating Period Security, including L/C Proceeds therefrom (collectively referred to as the "Security Funds") established, funded, and maintained by Seller pursuant to the provisions of this Article 14 (Credit Assurance and Security) shall provide security for the performance of Seller's obligations under this Agreement and shall be available to be drawn on by Company as provided in Section 14.7 (Company's Right to Draw from Security Funds). Seller shall maintain the Security Funds at the contractually-required level throughout the Term of this Agreement. Seller shall replenish the Security Funds to such required level within fifteen (15) Business Days after any draw on the Security Funds by Company or any reduction in the value of Security Funds below the required level for any other reason. Notwithstanding the foregoing, Seller's obligation to replenish the Development Period Security shall not exceed in total three (3) times the original amount of the Development Period Security required under Section 14.2 (Development Period Security) of this Agreement.
Security Funds. The Development Period Security and Operating Period Security (collectively referred to as the "Security Funds") established, funded, and maintained by Seller pursuant to the provisions of this Article 14 (Credit Assurance and Security) shall provide security for the performance of Seller's obligations under this Agreement and shall be available to be drawn on by Company as provided in Section 14.7 (Company's Right to Draw from Security Funds). Seller shall maintain the Security Funds at the contractually-required level throughout the Term of this Agreement. Seller shall replenish the Security Funds to such required level within fifteen (15) Business Days after any draw on the Security Funds by Company or any reduction in the value of Security Funds below the required level for any other reason.
Security Funds. Section 23.01.
Security Funds. You acknowledge and agree that:
(a) the security funds do not constitute a deposit, are not insured by the Canada Deposit Insurance Corporation, or any other government deposit insurer or agency, and will be held in an account at a depository institution we select;
(b) the security funds may not be used to offset Obligations (nor to effect compensation in respect of the Obligations, if you are a resident of the province of Quebec), meaning you cannot use the security funds to pay your monthly payment or any other amounts owing under the Cardholder Agreement;
(c) you have no right to access or withdraw the security funds, except as described below; and
(d) any interest earned on the security funds will become our sole property.
Security Funds. The Development Period Security and Operating Period Security, including L/C Proceeds therefrom (collectively referred to as the "Security Funds") established, funded, and maintained by Seller pursuant to the provisions of this Article 14 (Credit Assurance and Security) shall provide security for the performance of Seller's obligations under this Agreement and shall be available to be drawn on by Company as provided in Section
Security Funds. Any amounts otherwise payable to Lessee -------------- under this Lease or any other Operative Document but which shall be paid to or retained by Lessor pursuant to the terms hereof as a result of any Lease Default or Lease Event of Default shall be held by the Lessor, as security for the obligations of Lessee under this Lease and the other Operative Documents and, at such time as there shall not be continuing any such Lease Default or Lease Event of Default, such amounts, net of any amounts theretofore applied to Lessee's obligations hereunder or under any other Operative Document, shall be paid to Lessee. Any such amounts which are held by the Lessor pending payment to Lessee shall, until paid to Lessee as provided herein or until applied against Lessee's obligations hereunder, under any other Operative Document in connection with any exercise of remedies hereunder, be invested in Permitted Investments by the Lessor as directed from time to time by Lessor for the benefit and at the risk and expense of the Lessee.
Security Funds. Section 6.01.
Security Funds. The Security Funds established, funded, and maintained by Seller pursuant to the provisions of this Section 7.1 (Security Fund) shall provide security for the performance of Seller’s obligations under this Agreement and shall be available to be drawn on by Company as provided in Section 7.1(G) (Company's Right to Draw from Security Funds). Seller shall maintain the Security Funds at the contractually-required level throughout the Term of this Agreement, and Seller shall replenish the Security Funds to such required level within fifteen (15) Business Days after any draw on the Security Funds by Company or any reduction in the value of Security Funds below the required level for any other reason.
Security Funds. You may be asked to provide us with Security Funds before or after the Account is opened. By providing us with the required Security Funds and accepting the terms and conditions of this Agreement, you agree that if you breach any term or condition of this Agreement, you authorize us to set off (and effect compensation if you are resident in Quebec) and apply those Security Funds against any amounts you owe to us under this Agreement. We can do all of this without notifying you or sending you a demand for payment. You also agree that:
(a) the Security Funds do not constitute a deposit with us (and are therefore not insured under the Canada Deposit Insurance Corporation Act) and will be held in an unsegregated account at a financial institution of our choice; and
(b) you have no right at any time to access or withdraw any Security Funds, except in the circumstances described below for returning any remaining Security Funds. You represent and warrant to us that there are no legal or bankruptcy proceedings against you that might affect our ability to hold, withdraw or apply any Security Funds you have provided to us and you agree that you have not transferred, and will not transfer or offer any interest in, any Security Funds to anyone else, except us. Any interest earned on the Security Funds will become our sole property. We will return any remaining Security Funds to you at your last known address in our records within 60 days of the closing of the Account or the date of payment in full of all amounts you owe to us under this Agreement, whichever comes last.
Security Funds. (Security Funds) has not been incorporated by reference, provided that to the extent Sublandlord receives funds from the Master Landlord or Indenture Trustee pursuant to Section 26.19 of the Master Lease, Sublandlord agrees to promptly deliver such funds to the Subtenant.
