SUMMARY OF SECURITY REQUIREMENTS Sample Clauses

SUMMARY OF SECURITY REQUIREMENTS. To guarantee compliance with the terms of this contract, payment of special assessments, payment of the costs of all public and private improvements, and construction of all public and private improvements, the Developer shall furnish the City with a letter of credit, in a format acceptable to the City, from a bank, cash escrow or a combination cash escrow and letter of credit ("security") for $2,116,044. The amount of the security was calculated as follows: ESTIMATED COSTS ITEM Developer- Installed (1) Private (2) Total Street Construction $450,700 $450,700 Turn Lane Construction 94,400 94,400 Sanitary Sewer System 235,700 235,700 Watermain System 331,900 331,900 Storm Sewer System 176,800 4,300 181,100 Boulevard and Drainage Swale Sod 13,100 13,100 Street and Traffic Control Signs 2,500 2,500 Wetland Buffer Posts & Signs ($100 per buffer post) 2,700 2,700 Sidewalk Improvements 75,400 75,400 Trail Improvements 21,200 21,200 CR 101 Trail Improvements 202,000 202,000 Landscaping 15,000 15,000 Street Lighting 5,000 5,000 Site Grading & Drainage Improvements 277,000 277,000 Erosion Control 34,800 34,800 Setting Iron Monuments ($100 per iron) 16,800 16,800 Sub-Total 1,491,500 467,800 1,959,300 Design, Admin. Insp, As-builts (8%) 119,320 37,424 156,744 TOTAL ESTIMATED COST: 1,610,820 505,224 2,116,044
Sample 1See All (6)
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SUMMARY OF SECURITY REQUIREMENTS. To guarantee compliance with the terms of this Agreement and construction of all work included, the Developer shall furnish the City, in addition to the amounts escrowed hereunder for City Engineering Administration and Construction Observation costs, with an irrevocable letter of credit issued from a bank with a branch in Dakota County, Minnesota, cash escrow or a combination cash escrow and letter of credit (“security”) for $481,250. The amount of the security was calculated based on 125% of the estimated grading and erosion control costs of $385,000 provided by the Developer. The bank and form of the letter of credit shall be subject to the approval of the Finance Director. The City may draw down the security, without notice, for any violation of the terms of this Agreement or if the security is allowed to lapse prior to the end of the required term. If the required public improvements are not completed at least thirty (30) days prior to the expiration of the security, the City may also draw it down. If the security is drawn down, the proceeds shall be used to cure the default.
Sample 1
SUMMARY OF SECURITY REQUIREMENTS. To guarantee compliance with the terms of this contract, payment of special assessments, payment of the costs of all public and private improvements, and construction of all public and private improvements, the Developer shall furnish the City with a letter of credit, in a format acceptable to the City, from a bank, cash escrow or a combination cash escrow and letter of credit ("security") for $272,214. The amount of the security was calculated as follows: ESTIMATED COSTS Developer ITEM Installed (1) Private (2) Total Street Construction: 46,500 46,500 Sanitary Sewer System: 32,000 32,000 Watermain System: 15,400 15,400 Storm Sewer System: 43,400 43,400 Boulevard and Drainage Swale Sod: 5,000 5,000 Filtration Basin: 40,000 40,000 Street and Traffic Control Signs: 600 600 Wetland Buffer Posts & Signs: 750 750 Sidewalk Improvements: 1,000 1,000 Trail Improvements 17,100 17,100 Landscaping: 2,500 2,500 Street Lighting: 500 500 Erosion Control (3) 7,500 7,500 Site Grading & Drainage Improvements: 33,000 33,000 Setting Iron Monuments: 1,800 1,800 Tree Preservation/Protection (3) 5,000 5,000 SUB-TOTAL: 177,900 74,150 252,050 Design, Admin., Insp., As-Builts (8%): 14,232 5,932 20,164 TOTAL: $192,132 $80,082 $272,214
Sample 1
SUMMARY OF SECURITY REQUIREMENTS. To guarantee compliance with the terms of this Agreement, payment of the costs of all improvements, and construction of all public and private improvements, the Developer shall furnish the City with a letter of credit, in the form attached hereto, from a bank (“security”) for $108,886.62. The amount of the security includes all of the security requirements set forth in the preceding sections of this Agreement, and was calculated as follows: OTHER COSTS: Landscaping $58,993.75 Right of Way Permit $35,000.00 Grading and Erosion Control Permit $14,892.12 TOTAL SECURITIES: $108,886.62 This breakdown is for historical reference; it is not a restriction on the use of the security. The bank shall be subject to the approval of the City Administrator. The security shall be for a term ending November 30, 2020. Individual security instruments may be for shorter terms provided they are replaced at least thirty (30) days prior to their expiration. The City may draw down the security, upon five (5) business days prior written notice to Developer, for any violation of the terms of this Agreement. Amounts drawn shall not exceed the amounts necessary to cure to the default. If the security is drawn down, the proceeds shall be used to cure the default. Upon receipt of proof satisfactory to the City that work has been completed and financial obligations to the City have been satisfied in accordance with approved plans, the security shall be reduced from time to time by ninety percent (90%) of the financial obligations that have been satisfied. Ten percent (10%) of the amounts certified by the Developer's engineer shall be retained as security until all improvements have been completed and all financial obligations to the City satisfied. The City standard specifications for utilities and street construction outline procedures for security reductions.
Sample 1
SUMMARY OF SECURITY REQUIREMENTS. To guarantee compliance with the terms of this Agreement, payment of the costs of all improvements, and construction of all public and private improvements, the Developer shall furnish the City with a letter of credit, in the form attached hereto, from a bank (“security”) for $334,107.50$372,434.00. The amount of the security includes all of the security requirements set forth in the preceding sections of this Agreement, and was calculated as follows: CONSTRUCTION COSTS: Storm Sewer/Drain tile $10,955.00 Erosion Control/Grading Certification $7,073.00 Streets $52,450.00 Sidewalk/Trail $15,336.00 Park Improvements $178,611.65 CONSTRUCTION $249,243.00264,425.00 SUB-TOTAL OTHER COSTS: Landscape Screen$45,843.00 Lot Corners/Iron Monuments $2,861.00 OTHER COSTS SUB-TOTAL $48,704.00 2,861.00 TOTAL SECURITIES: $267,28697,947.0065 GRAND TOTAL SECURITIES (125%) $33472,434107.500 This breakdown is for historical reference; it is not a restriction on the use of the security. The bank shall be subject to the approval of the City Administrator. The security shall be for a term ending November 30, 20212. Individual security instruments may be for shorter terms provided they are replaced at least thirty
Sample 1
SUMMARY OF SECURITY REQUIREMENTS. To guarantee compliance with the terms of this Agreement, payment of the costs of all improvements, and construction of all public and private improvements, the Developer shall furnish the City with a letter of credit, in the form attached hereto, from a bank (“security”) for $109,957.50. The amount of the security includes all of the security requirements set forth in the preceding sections of this Agreement, and was calculated as follows: CONSTRUCTION COSTS: Right-of-Way $15,000.00 Erosion Control/Grading Certification $7,350.00 OTHER COSTS: Landscaping $65,616.00 TOTAL SECURITIES: $87,966.00 GRAND TOTAL SECURITIES (125%) $109,957.50 This breakdown is for historical reference; it is not a restriction on the use of the security. The bank shall be subject to the approval of the City Administrator. The irrevocable letter of credit or other security deemed acceptable to the City is referred to throughout this Agreement as the “Security”. The Security shall be in the form attached hereto as Exhibit C, form a bank approved by the City. The bank shall be authorized to do business in the State of Minnesota. The Security shall extend through completion and acceptance (including the expected warranty period) by the City of the Development Work. The Security shall be for a term ending November 30, 2023. Individual security instruments may be for shorter terms provided they are replaced at least thirty (30) days prior to their expiration. The City may draw down the security, upon five
Sample 1
SUMMARY OF SECURITY REQUIREMENTS. To guarantee compliance with the terms of this Contract, payment of the costs of all improvements, and construction of all public and private improvements, the Developer shall furnish the City with a cash escrow ("Security") in the amount of $1,387,387.50. The amount of the Security was calculated as follows: CONSTRUCTION COSTS: Outside Utilities (installation of water main, sanitary sewer, storm drain and drain tile) $579,410.00 Erosion Control/Grading Certification $110,000.00 Streets, Parking Lots, and Interior Walks $408,000.00 CONSTRUCTION SUB-TOTAL $1,097,410.00 OTHER COSTS: Tree Dedication Contribution $10,000.00 Lot Corners/Iron Monuments $2,500.00 OTHER COSTS SUB-TOTAL $12,500.00 TOTAL SECURITIES: $1,109,910.00 GRAND TOTAL SECURITIES (125%) $1,387,387.50 This breakdown is for historical reference; it is not a restriction on the use of the security. The bank shall be subject to the approval of the City Administrator. The security shall be for a term ending November 30, 2022. Individual security instruments may be for shorter terms provided they are replaced at least thirty (30) days prior to their expiration. The City may draw down the security, upon five (5) business days prior written notice to Developer, for any violation of the terms of this Agreement. Amounts drawn shall not exceed the amounts necessary to cure to the default. If the security is drawn down, the proceeds shall be used to cure the default. Upon receipt of proof satisfactory to the City that work has been completed and financial obligations to the City have been satisfied in accordance with approved plans, the security shall be reduced from time to time by ninety percent (90%) of the financial obligations that have been satisfied. Ten percent (10%) of the amounts certified by the Developer's engineer shall be retained as security until all improvements have been completed and all financial obligations to the City satisfied. The City standard specifications for utilities and street construction outline procedures for security reductions.
Sample 1
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SUMMARY OF SECURITY REQUIREMENTS. To guarantee compliance with the terms of this contract, payment of special assessments, payment of the costs of all public and private improvements, and construction of all public and private improvements, the Developer shall furnish the City with a letter of credit, in a format acceptable to the City, from a bank, cash escrow or a combination cash escrow and letter of credit ("security") for $956,022. The amount of the security was calculated as follows: ESTIMATED COSTS Developer ITEM Installed (1) Private (2) Total Street Construction: 204,026 204,026 Sanitary Sewer System: 133,233 133,233 Watermain System: 133,748 133,748 Storm Sewer System: 223,371 223,371 Boulevard and Drainage Swale Sod: 8,400 8,400 Retaining Walls: 46,497 46,497 Filtration Basin: 18,771 18,771 Street and Traffic Control Signs: 1,250 1,250 Buffer/Park Posts & Signs: 1,000 1,000 Sidewalk Improvements: 23,494 23,494 Private Trailway Improvements: 8,150 8,150 Removal/Restoration of Temp. Cul-De-Sac: 2,500 2,500 Street Lighting: 1,000 1,000 Erosion Control: 3,505 3,000 6,505 (3) Site Grading & Drainage Improvements: 34,731 34,730 69,461 Setting Iron Monuments: 3,800 3,800 Tree Preservation/Protection: (3) SUB-TOTAL: 799,132 86,074 885,206 Design, Admin., Insp., As-Builts (8%): 63,930 6,886 70,816 TOTAL: 863,062 92,960 $956,022 (1) Developer installed public improvements. City to own and maintain after development completed.
Sample 1

Related to SUMMARY OF SECURITY REQUIREMENTS

  • Security Requirements 11.1 The Supplier shall comply, and shall procure the compliance of the Suppliers Personnel, with the Security Policy and the Security Plan and the Supplier shall ensure that the Security Plan produced by the Supplier fully complies with the Security Policy.

  • Data Security Requirements A. Data Transport. When transporting Confidential Information electronically, including via email, the data will be protected by:

  • Form of Security Any Security issued hereunder shall be in substantially the following form: DESERT CAPITAL REIT, INC. Junior Subordinated Note due 2036 No. _____________ $ ____________ Desert Capital REIT, Inc., a corporation organized and existing under the laws of Maryland (hereinafter called the “Company,” which term includes any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to JPMorgan Chase Bank, National Association, not in its individual capacity, but solely as Property Trustee for Desert Capital TRS Statutory Trust I, or registered assigns, the principal sum of Thirty Million Nine Hundred Twenty Eight Thousand Dollars ($30,928,000) [if the Security is a Global Security, then insert— or such other principal amount represented hereby as may be set forth in the records of the Securities Registrar hereinafter referred to in accordance with the Indenture] on July 30, 2036. The Company further promises to pay interest on said principal sum from June 16, 2006, or from the most recent Interest Payment Date to which interest has been paid or duly provided for, quarterly in arrears on January 30, April 30, July 30 and October 30 of each year, commencing July 30, 2006, or if any such day is not a Business Day, on the next succeeding Business Day (and no interest shall accrue in respect of the amounts whose payment is so delayed for the period from and after such Interest Payment Date until such next succeeding Business Day), except that, if such Business Day falls in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case, with the same force and effect as if made on the Interest Payment Date, at a variable rate equal to LIBOR plus 4.00% per annum, together with Additional Tax Sums, if any, as provided in Section 10.5 of the Indenture, until the principal hereof is paid or duly provided for or made available for payment; provided, further, that any overdue principal, premium, if any, or Additional Tax Sums and any overdue installment of interest shall bear Additional Interest at a variable rate equal to LIBOR plus 4.00% per annum (to the extent that the payment of such interest shall be legally enforceable), compounded quarterly, from the dates such amounts are due until they are paid or made available for payment, and such interest shall be payable on demand. The amount of interest payable for any period shall be computed on the basis of a 360-day year and the actual number of days elapsed in the relevant Distribution period. The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date shall, as provided in the Indenture, be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest installment. Any such interest not so punctually paid or duly provided for shall forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to Holders of Securities not less than ten (10) days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities may be listed, and upon such notice as may be required by such exchange, all as more fully provided in the Indenture. Payment of principal of, premium, if any, and interest on this Security shall be made in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts. Payments of principal, premium, if any, and interest due at the Maturity of this Security shall be made at the Place of Payment upon surrender of such Securities to the Paying Agent, and payments of interest shall be made, subject to such surrender where applicable, by wire transfer at such place and to such account at a banking institution in the United States as may be designated in writing to the Paying Agent at least ten (10) Business Days prior to the date for payment by the Person entitled thereto unless proper written transfer instructions have not been received by the relevant record date, in which case such payments shall be made by check mailed to the address of such Person as such address shall appear in the Security Register. Notwithstanding the foregoing, so long as the Holder of this Security is the Property Trustee, the payment of the principal of (and premium, if any) and interest (including any overdue installment of interest and Additional Tax Sums, if any) on this Security will be made at such place and to such account as may be designated by the Property Trustee. The indebtedness evidenced by this Security is, to the extent provided in the Indenture, subordinate and junior in right of payment to the prior payment in full of all Senior Debt, and this Security is issued subject to the provisions of the Indenture with respect thereto. Each Holder of this Security, by accepting the same, (a) agrees to and shall be bound by such provisions, (b) authorizes and directs the Trustee on his or her behalf to take such actions as may be necessary or appropriate to effectuate the subordination so provided and (c) appoints the Trustee his or her attorney-in-fact for any and all such purposes. Each Holder hereof, by his or her acceptance hereof, waives all notice of the acceptance of the subordination provisions contained herein and in the Indenture by each holder of Senior Debt, whether now outstanding or hereafter incurred, and waives reliance by each such holder upon said provisions. Unless the certificate of authentication hereon has been executed by the Trustee by manual signature, this Security shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose.

  • Another type of security fraud problem This is where there was another security or fraud problem, such as: o There was some other unauthorized access to your account. o Your password or PIN was compromised.

  • Principle of Security The Board and the Association agree that increased length of service in the employment of the Board entitles all employees covered by this Agreement to commensurate increase in security of teaching employment, provided that they possess the qualifications necessary for the positions available.

  • Warranty of Security Unless otherwise agreed in writing, the Contractor and its subcontractors will not perform any of the services from outside of the United States, and the Contractor will not allow any State of Florida data to be sent by any medium, transmitted, or accessed outside of the United States. The Contractor agrees that a violation of items listed above will result in immediate and irreparable harm to the Customer and will entitle the Customer to a credit as provided in the Contract documents. This credit is intended only to cover the Customer’s internal staffing and administrative costs as well as the diminished value of services provided under the Contract and will not preclude the Customer from recovering other damages it may suffer as a result of such violation. For purposes of determining the damages due hereunder, a group of violations relating to a common set of operative facts (e.g., same location, same time period, same off-shore entity) will be treated as a single event. A violation of this provision will also entitle the Customer to recover any damages arising from a breach of this section and constitutes an event of default. The Contractor must notify the Department and the Customer as soon as possible, in accordance with the requirements of section 501.171, F.S., if applicable, and in all events within one (1) business day in the event Contractor discovers any data is breached, any unauthorized access of data occurs (even by persons or companies with authorized access for other purposes), any unauthorized transmission of data occurs, or of any credible allegation or suspicion of a material violation of the above. This notification is required regardless of the number of persons or type of data affected. The notification must be clear and conspicuous and include a description of the following:

  • Additional security requirements The following provisions apply in respect of any Additional Security provided:

  • Release of Security (a) If a disposal of any asset subject to security created by a Security Document is made in the following circumstances:

  • Information Security Requirements In cases where the State is not permitted to manage/modify the automation equipment (server/computer/other) that controls testing or monitoring devices, the Contractor agrees to update and provide patches for the automation equipment and any installed operating systems or applications on a quarterly basis (at minimum). The Contractor will submit a report to the State of updates installed within 30 days of the installation as well as a Plan of Actions and Milestones (POA&M) to remediate any vulnerabilities ranging from Critical to Low. The contractor will provide an upgrade path or compensatory security controls for any operating systems and applications listed as beyond “end-of-life” or EOL, within 90 days of the EOL and complete the EOL system’s upgrade within 90 days of the approved plan.

  • Form of Securities Bearer Security. The Securities will be issued in global bearer form, evidenced on issue by a Temporary Bearer Global Security. Beneficial interests in a Temporary Bearer Global Security will be exchangeable for beneficial interests in a Permanent Bearer Global Security on or after the date which is 40 days after the date on which the Temporary Bearer Global Security is issued and upon certification as to non-U.S. beneficial ownership as required by U.S. Treasury regulations.

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