SUBSTITUTION OF SECURITY. In accordance with Public Contract Code section 22300, the District will permit the substitution of securities for any moneys withheld by the District to ensure performance under the Construction Services Agreement. At the request and expense of the Contractors, securities equivalent to the amount withheld shall be deposited with the District, or with a state or federally chartered bank as the escrow agent, who shall then pay such moneys to the Contractor. Upon satisfactory completion of the Construction Services Agreement the securities shall be returned to the Contractor.
SUBSTITUTION OF SECURITY. (a) The Sponsor may at any time withdraw Reserved BSE Common Equity that it has previously committed and replace it with any combination of Cash Collateral and Reserve Letters of Credit in an aggregate amount that is equal to the BSE Common Equity Contribution Value of the Reserved BSE Common Equity being withdrawn.
SUBSTITUTION OF SECURITY. At any time while this Agreement is in effect, Debtor shall have the right to post an irrevocable letter of credit in substitution for this Agreement in an amount equal to the then outstanding balance of the Obligations and containing such terms as are reasonably acceptable to Secured Party, and upon such posting Secured Party shall discharge all security interests with respect to the Collateral.
SUBSTITUTION OF SECURITY. 76.1 Upon the Contractor’s request, the District will make payment of funds withheld from progress payments to ensure performance under the Contract pursuant to the requirements of Public Contract Code section 22300 if the Contractor deposits in escrow with the District or with a bank acceptable to the District, securities eligible for investment under Government Code section 16430, bank or savings and loan certificates of deposit, or other security mutually agreed to by the Contractor and the District, subject to the following conditions:
SUBSTITUTION OF SECURITY. (a) At any time the Developer providing Security may substitute it with one or more Securities of the same value.
SUBSTITUTION OF SECURITY. The Lender may after obtaining all approvals required by the Lender, upon the written request of the Borrower and the Borrower furnishing such Security and/or guarantees required pursuant to such approvals, agree to release any Security under the Security Documents at the cost and expense of the Borrower, provided that, immediately after such release, the ratio of Loan to Total Security Value does not exceed 1.00 / 0.65.
SUBSTITUTION OF SECURITY. As soon as is practicable after the Land Owner has any entered into an assignment, transfer or novation in accordance with clause 15.1, clause 15.2 or clause 15.3 and the relevant Transferee provides a new Guarantee in terms acceptable to the Council in accordance with this deed in substitution for an existing Guarantee, the Council must, if so directed by the Land Owner that provided the existing Guarantee, promptly release and return the existing Guarantee to the Land Owner.
SUBSTITUTION OF SECURITY. A. Upon Builder's request, the District will make payment of funds withheld from Sublease payments under the Sublease to ensure performance under the contract pursuant to the requirements of Public Contract Code section 22300 if Builder deposits in escrow with the District or with a bank acceptable to the District, securities eligible for investment under Government Code section 16430 or bank or savings and loan certificates of deposit, or other security mutually agreed to by Builder and the District, subject to the following conditions: .
SUBSTITUTION OF SECURITY. As soon as is practicable after the Developer or Landowners have any Dealings and the incoming party or Transferee provide a Guarantee in terms acceptable to the Council in accordance with this agreement, the Council must, if so directed by the Developer or Landowners (as the case may be), promptly release and return the Guarantee held at that time to the Developer or Landowners.
SUBSTITUTION OF SECURITY. In the event the Developer and the Owner request the City Council to release the restriction prohibiting the conveyance of lots within the Subdivision prior to the completion of all public and other required Subdivision improvements in order to permit the conveyance of one (1) or more lots within the Subdivision, a new Subdivision Improvements Agreement shall be entered into between Owner, Developer and the City providing for the delivery of a letter of credit, performance bond, or escrow deposit to secure the completion of the remaining public and other required Subdivision improvements. Upon approval of such Agreement by the Fruita City Council, the City shall release the restriction prohibiting the conveyance of any lots within the Subdivision.
