Security Required. (a) Owner shall file with the District prior to the date the District signs the Improvement Plans and prior to the date of Owner obtaining permits from the District to construct the sanitary sewer improvements for the subject property, a good and sufficient improvement security in an amount not less than the estimated cost of the work and improvements for the faithful performance of the terms and conditions of this Agreement and a good and sufficient security for payment of labor and materials equal to the amount of the faithful performance bond to secure the claims to which reference is made in Title 15 of Part 4 of Division 3 of the Civil Code of the State of California (commencing with Section 3082).
(b) Acceptable types of security are:
(1) A bond or bonds by one or more duly authorized corporate sureties: or
(2) A deposit with the District of cash or negotiable bonds of the kind approved for securing deposits of public moneys; or
(3) An instrument of credit, in a form acceptable to the District's counsel, from an agency of the State, Federal, or local government when any such agency provides at least twenty percent of the financing for the portion of the act or agreement requiring security, or from one or more financial institutions subject to regulation by the state or federal government pledging that the funds necessary to carry out the agreement are on deposit and guaranteed for payment.
(4) A letter of credit, in a form acceptable to the District's counsel, issued by a financial institution that is subject to regulation by the state or federal government guaranteeing that all or any portion of the funds available pursuant to the letter of credit will be paid upon written demand of the District and that such written demand need not present documentation of any kind as a condition of payment, including proof of loss.
(c) Owner, if the improvement security is a bond and if the sureties, either on the Faithful Performance Bond or on the Bond securing payment of Labor and Materials, or both, or the amount of said bonds, in the reasonable opinion of the District becomes insufficient, agrees to renew each and every said bond or bonds with good and sufficient sureties or increase the amount of said bonds, or both, within ten (10) business days after being notified by the District that the sureties or amount are insufficient. Notwithstanding any other provision herein, if Owner fails to take such action as is necessary to comply with said notice, he shall ...
Security Required. (a) To the extent any cession is made hereunder on a coinsurance basis, the Reinsurer shall secure its obligations with respect to the Coinsured Liabilities by, at its option, either (i) posting a “clean”, irrevocable, unconditional and evergreen letter of credit issued by a bank acceptable to the Ceding Company in its sole discretion that meets the requirements of Applicable Law and would permit the Ceding Company full credit as admitted reinsurance of the Coinsured Liabilities (a “Letter of Credit”), (ii) establishing and funding a reinsurance trust account (the “Reinsurance Trust Account”) for the benefit of the Ceding Company, which Reinsurance Trust Account shall consist only of cash (United States legal tender), certificates of deposit (issued by a United States bank and payable in United States legal tender) and/or investments of the types permitted by Article 3.10, § (d), or Article 5.75-1, § (d) of the Texas Insurance Code and permitted by investment guidelines mutually agreed between the Ceding Company and the Reinsurer, provided, that such investments are issued by an institution that is not the parent, Subsidiary or other Affiliate of either the Ceding Company or the Reinsurer (“Authorized Investments”), deposited pursuant to a trust agreement in form and substance, and with a third party trustee, in each case satisfactory to the Ceding Company in its sole discretion that, at all times, meets the requirements of any Applicable Law, and that would permit the Ceding Company full credit as admitted reinsurance of the Coinsured Liabilities, or (iii) a combination of both a Letter of Credit and Reinsurance Trust Account. Assets deposited into the Reinsurance Trust Account shall be valued according to their current Fair Market Value.
(b) The Reinsurer shall maintain the face amount of the Letter of Credit plus the Fair Market Value of Reinsurance Trust Account Authorized Investments (“Collateral Value”) at an amount no less than the then-applicable Required Balance. The Required Balance shall be adjusted as of the end of each Accounting Period. “Required Balance” means, with respect to any Accounting Period, an amount equal to the Coinsured Liabilities as of the end of the most recent Accounting Period plus, to the extent required, any additional amount necessary to provide the Ceding Company full credit for reinsurance for the Coinsured Liabilities under Applicable Law.
Security Required. In order to secure the construction and installation of the public and other required Subdivision improvements, whether on-site or off-site, above described and as shown in the Subdivision Final Plat for the Property and all accompanying documents, drawings and plans submitted for the Approved for Construction drawings, for which the Developer is responsible, and in accordance with Section 17.21.100 of the Fruita Municipal Code, the Developer shall furnish the City with: (a) cash to be deposited in an escrow account that is acceptable to the City pursuant to the Escrow and Disbursement Agreement attached hereto as Exhibit " " and incorporated herein by this reference; or (b) an irrevocable standby letter of credit that is acceptable to the City; or (c) a performance bond issued by a surety approved by the City, in an amount equal to one hundred ten percent (110%) of the estimated cost of said facilities.
Security Required. The LESSEE MUST contract through the TOWN a Silverhill Police Officer as security to be present during any event at the Silverhill Community Center where alcoholic beverages are served. Lessee must be 21 years of age, copy of Driver’s License is required to rent the building and to serve alcoholic beverages to those in attendance and anyone that will be consuming any alcohol, this is monitored and those in violation will be dismissed. Failure to comply forfeits any deposits on hand with Town Hall.
Security Required. As general and continuing collateral security for the due payment of all present and future debts, liabilities and obligations of the Credit Parties to the Security Beneficiaries, there shall be provided (and the Borrower and each Guarantor agree to provide) the following security (together with all other security granted by any Credit Party in favour of the Collateral Agent for the benefit of any Security Beneficiaries in their capacities as such, the "SECURITY"), which shall be in form and substance satisfactory to the Lenders:
(a) the Collateral Agency and Intercreditor Agreement;
(b) a general security agreement from the Borrower in favour of the Collateral Agent constituting a first-priority Lien (subject only to Permitted Liens) on all of the present and future property of the Borrower;
(c) a securities pledge agreement from the Borrower in favour of the Collateral Agent constituting a first-priority Lien (subject only to Permitted Liens) on all of the present and future shares in the capital of its Subsidiaries (if any) acknowledged by such Subsidiaries, together with such resolutions and consents as the Agent may determine are legally required or advisable and the security certificates duly issued by each of such Subsidiaries evidencing such pledge of securities duly endorsed in blank for transfer;
(d) an assignment of all Material Contracts from the Borrower and each Guarantor in favour of the Collateral Agent with such consents or acknowledgements as the Lenders may require;
(e) unlimited guarantees and postponement of claims from each Guarantor guaranteeing to the Agent the due payment and performance of all Indebtedness and to the Collateral Agent the due payment and performance of all present and future debts, liabilities and obligations of the Borrower under any Secured Hedging Arrangement;
(f) a general security agreement from each Guarantor in favour of the Collateral Agent constituting a first-priority Lien (subject only to Permitted Liens) on all of the present and future property of each Guarantor;
(g) a securities pledge agreement from each Guarantor in favour of the Collateral Agent constituting a first-priority Lien (subject only to Permitted Liens) on all of the present and future shares in the capital of its Subsidiaries (including the Borrower), acknowledged by such Subsidiaries, together with such resolutions and consents as the Agent may determine are legally required or advisable and the security certificates duly issued by each...
Security Required. Is security required on execution from the Customer? (clause 21 of the Standard Conditions) Amount of security required : 8. Insurance $[ ] or N/A Amount of insurance required : $[ ] or N/A
Security Required. To ensure that the work covered by the improvement agreement will be completed, improvement security shall be furnished, in an amount, form, and manner consistent with the Act and/or as approved by the Review Authority based on a recommendation(s) of the City Engineer, to guarantee the faithful performance of any act or agreement.
Security Required. Police Officer(s) are required for rentals. The number of officers required will depend on the number of guest expected and the serving of alcohol. There is a four-hour minimum for each officer. Quinceanera party or celebration requires three (3) officers, independent of guest number or whether alcohol is served.
Security Required. In addition to (and without taking away from) any security already held by the Bank (or which in future may be held by the Bank), the security and security documents stated in SCHEDULE 2 must be provided and perfected for the Obligors’ obligations before any Facilities may be used or drawn-down.
Security Required. This is a description of the security to be provided by you in relation to the credit agreement. As security for the payment of all outstanding balances under this Agreement you assign to us with full title guarantee, by way of continuing security, all your rights, title and interest in and to the Policy/ies financed, any sums payable to you under the Policy/ies, and any rebate or reimbursement of insurance premiums to which you may become entitled.
