Security Requirement. In the event that the Cedent shall, at any time, notify the Reinsurer of its determination that security for reinsurance recoverables hereunder is or may be necessary for the Cedent to obtain any associated regulatory statement credit for reinsurance ceded to this Agreement on account of the Reinsurer being neither admitted or accredited as a reinsurer, the Reinsurer shall establish a trust ("the Trust") in accordance with Section B of this Article or the Reinsurer shall provide a letter of credit (an "LOC") in accordance with Section C of this Article.
Security Requirement. The User’s Obligation shall be secured by any one of the following:-
2.1 A Performance Bond or Letter of Credit from a Qualified Bank for the amount stated in the Secured Amount Statement as the estimated amount of the User’s Obligation to be secured, such Performance Bond or Letter of Credit to be Valid for at least the period stated in such Secured Amount Statement and to be renewed periodically where applicable in the manner stated in paragraph 3.3 of this Appendix M; or
2.2 A cash deposit in a Bank Account at least for the amount stated in the Secured Amount Statement as the estimated amount of the User’s Obligation to be secured, such cash deposit to be increased or reduced periodically where applicable in the manner stated in paragraph 3.4 of this Appendix M; or
2.3 A Performance Bond from a Qualified Company for the amount stated in the Secured Amount Statement as the estimated amount of the User’s Obligation to be secured, such Performance Bond to be Valid for at least the period stated in such Secured Amount Statement and to be renewed periodically where applicable in the manner stated in paragraph 3.3 of this Appendix M.
Security Requirement. Events serving alcohol will require two security guards. * Quinceanera/Sweet 16 will require three security guards regardless of serving Alcohol. Security Contract is due no later than 30 days before the event or the event may be cancelled with loss of deposit. Must be in the name of the rent on the contract.
Security Requirement. (a) The Bank, to secure the timely payment of Uninsured Deposits made by Depositor, has deposited with Custodian certain Securities as more fully described in the initial confirmation or Trust Receipt of such deposit delivered by Custodian to Bank and Depositor respectively. Pursuant to the Code, the Custodian shall act as a bailee or agent of the Depositor and, to the extent not inconsistent with such duties, shall hold Securities as a securities intermediary (as such term is defined in Chapter 8 of the Code) in accordance with the provisions of this Agreement, the Depository Agreement, and of any agreement entered into with the Custodian further governing the provision of Security by the Bank for Uninsured Deposits.
(i) To secure the timely payment of Uninsured Deposits made by Depositor with Bank, Bank agrees to deliver or cause to be delivered to Custodian for transfer to the Account, Eligible Collateral having a Market Value equal or greater than the Collateral Requirement.
(ii) If the Market Value of such Eligible Collateral on any Business Day is less than the Collateral Requirement for such day, the Bank shall be required to deliver additional Eligible Collateral having a Market Value equal to or greater than such deficiency as soon as possible but no later than the close of business of Custodian on the Business Day on which Bank determined such deficiency. If on any Business Day, the aggregate Market Value of the Eligible Collateral provided pursuant to this Agreement exceeds the Collateral Requirement for such day, Custodian shall, at the direction of Bank and with the approval of the Authorized Person acting on behalf of the Depositor, transfer from the Account to or for the benefit of Bank, Eligible Collateral having a Market Value no greater than such excess amount.
(iii) When additional Eligible Collateral is required to cover incremental Deposits, the Bank must receive the request for collateral one (1) Business Day prior to the Business Day the incremental Deposits are received, and the Bank shall be required to deliver additional Eligible Collateral having a Market Value equal to or greater than the deficiency on the Business Day the incremental Deposits are received.
(c) For any changes made to the Eligible Collateral held in the Account due to releases, substitutions, or additions of Eligible Collateral, the Custodian shall update its records of the Account accordingly as soon as possible and promptly issue a Trust Receipt to the Deposit...
Security Requirement. Events serving alcohol will require two security guards. * Quinceanera will require three security guards regardless of serving Alcohol.
Security Requirement. Events serving alcohol will require two security guards. Quinceanera will require three security guards. If alcoholic beverages are discovered, it will result in automatic loss of deposit and your event could be shut down. As signer of this Agreement, you are responsible for the actions of your guests. If they bring in alcoholic beverages without prior approval, it will result in automatic loss of deposit and your event could be shut down.
Security Requirement. We further refer to clause 12.2.1 (Security shortfall) of the Loan Agreement and hereby certify that, as at [insert date of valuation] and on the date hereof:
(i) the Security Value is in the amount of $[•], calculated as [shown in Appendix ●]; and
(ii) the Loan is in the amount of $[•], calculated as [shown in Appendix ●]; and
(iii) the Security Requirement ratio is [•]% versus the required ratio of 125%.
Security Requirement. Security must be provided to Horizon Utilities Corporation by all Commercial Customers who fail to qualify for a security deposit exemption and who are billed by Horizon Utilities Corporation. Exceptions:
1.01 Federal, Provincial and Municipal governments, their agencies and their guarantees.
Security Requirement. The intent of this Agreement is for the Cedent to obtain -------------------- credit on its annual statement for the reinsurance provided hereunder. If the Reinsurer is not authorized to do business or becomes unauthorized to do business in the Cedent's state of domicile, the Reinsurer agrees to take whatever steps that may be necessary for the Cedent to obtain statement credit either by obtaining a clean, unconditional, irrevocable and evergreen Letter of Credit, establishing a trust account, or amending this Agreement to provide for reserves to be held by the Cedent.
Security Requirement. To prevent unauthorized usage of the Service, you agree to ensure the security of the personal computer and/or mobile device you own and use to access the Service. By securing these devices, we specifically mean installing operating system patches, antivirus software, firewall and spyware detection as applicable and keeping this security software current, as well as securing the physical device from theft or unauthorized use. If you have authorized user(s) on your account, the user(s) will also have online access to the Remote Check Deposit Service. You and your authorized user(s) are equally responsible for adhering to all items disclosed in this Agreement.
