Security Sum Sample Clauses

Security Sum. 3.4.1 The Access Seeker shall have deposited the Security Sum as security for the performance of all the Access Seeker’s obligations under this Agreement. The amount of the initial Security Sum for each Facility or Services shall be as stipulated respective Facility or Services description. For the purpose of clarification, the Security Sum does not relieve the Access Seeker from its obligations to pay amounts to SACOFA as they become due and payable, nor does it constitute a waiver of the SACOFA’s right to suspend, disconnect, or terminate the relevant Facilities or Services due to non-payment of any sums due or payable to SACOFA. (a) SACOFA shall be entitled, from time to time, to revise the Security Sum in any of the following event:- (i) where, in the opinion of SACOFA, there is a material change in circumstances in relation to the Access Seeker’s creditworthiness. In such cases, SACOFA may request for additional security in addition to the sum stated under the respective Facilities and/or Service to sufficiently and reasonably mitigate its risk in providing the Facilities and Services to the Access Seeker. For clarification, material change in circumstances includes, but is not limited to, failure to pay on the Due Date in respect of three (3) Invoices rendered in the preceding six (6) months, so long as those amounts have not been disputed in good faith; and/or (ii) as provided under the respective Facilities and/or Service descriptions, (b) Where the amount of the Security Sum is, at any time, less than the amount stated in the respective Facilities and/or Services (including when a demand has been made by SACOFA) determined by SACOFA, the Access Seeker shall within thirty (30) days from the written request of SACOFA, deposit a new security equivalent to the requested sum. (c) Upon termination of the Agreement: (i) the Security Sum deposited with SACOFA or parts thereof shall be returned and/or refunded to the Access Seeker within sixty (60) days from the date of termination provided all other amounts payable by the Access Seeker to SACOFA have been paid; and (ii) SACOFA shall immediately in writing unconditionally waive its rights under any guarantee provided as Security Sum in respect of future performance of this Agreement by the Access Seeker if any, since this Agreement has been terminated save and except that the guarantee shall remain in full force in respect of any antecedent breaches under this Agreement or in respect of any amounts payable...
Sample 1
AutoNDA by SimpleDocs
Security Sum. 3.3.1 The Access Provider may request for Security Sum to be specified by the Access Provider in accordance with Condition 5.3 prior to the provision of the Service.
Sample 1
Security Sum. 5.3.1 The Security Sum shall be paid to the Access Provider within fourteen (14) days from the date of this Agreement. For the purpose of clarification, the Security Sum does not relieve the Access Seeker from its obligations to pay amounts of any invoices to the Access Provider as they become due and payable, nor does it constitute a waiver of the Access Provider’s right to suspend, disconnect, or terminate the relevant Services due to non- payment of any sums due or payable to the Access Provider and shall not be subject to any deduction or set-off unless otherwise agreed in writing by the Access Provider. 5.3.2 The Access Provider shall only vary the amount and type of any security requirements imposed on Access Seeker at maximum of once in any twelve (12) months period in any of the following event:- (a) upon the provisioning of new network services to the Access Seeker; or (b) where there is material change in circumstances in relation to the Access Xxxxxx’s creditworthiness. For clarification, a material change in circumstances includes, but is not limited to, a failure by the Access Seeker to pay on the due dates at least three (3) invoices rendered in the preceding six (6) months (so long as those amounts have not been disputed in good faith). If the amounts in the invoices are disputed in good faith, this will not constitute a material change in circumstances for purposes of this Condition 5.3.2 (c). 5.3.3 Where the Security Sum is revised pursuant to Condition 5.3.2 (a) above, the Access Seeker shall within ten (10) Business Days from the written request of the Access Provider, deposit the new Security Sum with the Access Provider provided that the Access Provider’s written request shall include a valid reason as to why the Security Sum is revised and that such revision is mutually agreed by both Access Provider and Access Seeker.
Sample 1
Security Sum. The Security Sum in the form of a Bank Guarantee or a Security Deposit under this Agreement shall be Ringgit Malaysia One Million Two Hundred Thousands (RM1,200,000.00) and payable to MYTV within fourteen (14) days upon execution of this Agreement and further subject to Condition 5.3 of this Agreement.
Sample 1
Security Sum. SACOFA shall request the Access Seeker to provide a Security Sum which shall be for the sum stated in the respective Facilities and/or Services description. For avoidance of doubt, in event the Access Seeker does not made payment of the Security Sum, the Facilities and/or Services shall not be provided by SACOFA.
Sample 1

Related to Security Sum

  • Security Cameras Security cameras have been installed throughout the Facility; however, they will not routinely be used in areas where there is an expectation of privacy, such as restrooms or patient care areas.

  • Security Assessment If Accenture reasonably determines, or in good faith believes, that Supplier’s security practices or procedures do not meet Supplier’s obligations under the Agreement, then Accenture will notify Supplier of the deficiencies. Supplier will without unreasonable delay: (i) correct such deficiencies at its own expense; (ii) permit Accenture, or its duly authorized representatives, to assess Supplier’s security-related activities that are relevant to the Agreement; and (iii) timely complete a security questionnaire from Accenture on a periodic basis upon Accenture’s request. Security issues identified by Accenture will be assigned risk ratings and an agreed-to timeframe to remediate. Supplier will remediate all the security issues identified within the agreed to timeframes. Upon Supplier’s failure to remediate any high or medium rated security issues within the stated timeframes, Accenture may terminate the Agreement in accordance with Section 8 above.

  • Security Safeguards Contractor shall store and process District Data in accordance with commercial best practices, including implementing appropriate administrative, physical, and technical safeguards that are no less rigorous than those outlined in SANS Top 20 Security Controls, as amended, to secure such data from unauthorized access, disclosure, alteration, and use. Contractor shall ensure that all such safeguards, including the manner in which District Data is collected, accessed, used, stored, processed, disposed of and disclosed, comply with all applicable federal and state data protection and privacy laws, regulations and directives, including without limitation C.R.S. § 00-00-000 et seq., as well as the terms and conditions of this Addendum. Without limiting the foregoing, and unless expressly agreed to the contrary in writing, Contractor warrants that all electronic District Data will be encrypted in transmission and at rest in accordance with NIST Special Publication 800-57, as amended.

  • Site Security While providing services at a DSHS location, the Contractor, its agents, employees, or Subcontractors shall conform in all respects with physical, fire, or other security regulations specific to the DSHS location.

  • Security System The site and the Work area may be protected by limited access security systems. An initial access code number will be issued to the Contractor by the County. Thereafter, all costs for changing the access code due to changes in personnel or required substitution of contracts shall be paid by the Contractor and may be deducted from payments due or to become due to the Contractor. Furthermore, any alarms originating from the Contractor’s operations shall also be paid by the Contractor and may be deducted from payments due or to become due to the Contractor.

  • Security Bond The security bond provides protection to Owner if Contractor presents an acceptable guaranteed maximum price (“GMP”) to Owner but is unable to deliver the required payment and performance bonds within the time period stated below.

  • Security over Lenders’ rights In addition to the other rights provided to Lenders under this Clause 26, each Lender may without consulting with or obtaining consent from any Obligor, at any time charge, assign or otherwise create Security in or over (whether by way of collateral or otherwise) all or any of its rights under any Finance Document to secure obligations of that Lender including, without limitation: (a) any charge, assignment or other Security to secure obligations to a federal reserve or central bank; and (b) in the case of any Lender which is a fund, any charge, assignment or other Security granted to any holders (or trustee or representatives of holders) of obligations owed, or securities issued, by that Lender as security for those obligations or securities, except that no such charge, assignment or Security shall: (i) release a Lender from any of its obligations under the Finance Documents or substitute the beneficiary of the relevant charge, assignment or other Security for the Lender as a party to any of the Finance Documents; or (ii) require any payments to be made by an Obligor or grant to any person any more extensive rights than those required to be made or granted to the relevant Lender under the Finance Documents.

  • Security Services CONTRACTOR shall provide security services designed for preventing escapes, maintaining order, providing care, custody, control, supervision and management of the inmate population. A successful security program depends heavily on staff training, effective administration, and the establishment of inmate programs. The organization, staffing, and administration of the security program are vital to the Facility. The direction provided by a well-organized and clearly articulated operations manual, and emergency planning provides a solid base for successful administration. The final operations manual shall be submitted to the Bureau prior to the Service Commencement Date and shall be reviewed annually and updated as needed. Documentation of the review shall be provided annually to the On- Site Contract Monitor. Changes to the plan require written permission by the Contract Manager. The Department reserves the right to require changes to plans submitted to the Bureau.

  • Security Service Tenant acknowledges and agrees that, while Landlord may patrol the Project, Landlord is not providing any security services with respect to the Premises and that Landlord shall not be liable to Tenant for, and Tenant waives any claim against Landlord with respect to, any loss by theft or any other damage suffered or incurred by Tenant in connection with any unauthorized entry into the Premises or any other breach of security with respect to the Premises.

  • Security Systems The Service may not be compatible with security systems. You may be required to maintain a telephone connection through your local exchange carrier in order to use any alarm monitoring functions for any security system installed in your home or business. You are responsible for contacting the alarm monitoring company to test the compatibility of any alarm monitoring or security system with the Service.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!