Use of the Security Sample Clauses

Use of the Security. If the City draws on the Security, the proceeds may be used to pay: (a) the reasonable costs incurred by the City when drawing on the Security including, but not limited to, transportation and actual out of pocket expenses; (b) all costs incurred by the City in completing any work required to maintain, repair, remove, restore, or rectify any deficiencies in the work undertaken by the Owners, including, but not limited to: (i) administrative costs incurred when arranging to complete the work; (ii) consulting and contracting fees required to retain outside consultants and contractors; (iii) costs related to labour, materials, testing, and inspection; and (iv) administrative and engineering costs required to obtain CCCs and FACs for the Municipal Improvements, including supporting documentation, testing, maintenance and deficiency repairs; (c) all costs incurred by the City in rectifying any default by the Owners under this Agreement; and
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Use of the Security. If the City draws on the Security, the proceeds may be used to pay: (a) the reasonable costs incurred by the City when drawing on the Security including, but not limited to, transportation and actual out of pocket expenses; (b) all costs incurred by the City in completing any work required to maintain, repair, remove, restore, or rectify any deficiencies in the work undertaken by the Owners, including, but not limited to: (i) administrative costs incurred when arranging to complete the work; (ii) consulting and contracting fees required to retain outside consultants and contractors; and (iii) costs related to labour, materials, testing, and inspection; (c) all costs incurred by the City in rectifying any default by the Owners under this Agreement. If the City draws on the Security, the City agrees to provide an accounting to the Owners indicating how the proceeds of the Security were used within sixty (60) days of rectifying any default. The City shall pay the Owners any surplus funds not required to rectify any defaults within sixty (60) days after completion of work required to return the Development Lands to the condition it was prior to the commencement of construction of the Showhomes, including the removal of all buildings constructed on the Development Lands. No interest will be paid on any surplus funds.
Sample 1
Use of the Security. Information is restricted to the term of this Contract. The Security Information shall no longer be used after the Contract has ended. Unless obligations to retain Security Information are stipulated by law, the INDEPENDENT WORKSHOP is obligated to delete all Security Information made available for its use under the terms of this Contract as soon as it is no longer needed and, in any case, immediately when this Contract ends.
Sample 1
Use of the Security by the Township shall not relieve the Owner of any of its obligations pursuant to this Agreement.
Sample 1

Related to Use of the Security

  • Issuance of the Securities The Securities are duly authorized and, when issued and paid for in accordance with the applicable Transaction Documents, will be duly and validly issued, fully paid and nonassessable, free and clear of all Liens imposed by the Company other than restrictions on transfer provided for in the Transaction Documents. The Underlying Shares, when issued in accordance with the terms of the Transaction Documents, will be validly issued, fully paid and nonassessable, free and clear of all Liens imposed by the Company other than restrictions on transfer provided for in the Transaction Documents. The Company has reserved from its duly authorized capital stock a number of shares of Common Stock for issuance of the Underlying Shares at least equal to the Required Minimum on the date hereof.

  • Issuance of the Securities; Registration The Securities are duly authorized and, when issued and paid for in accordance with the applicable Transaction Documents, will be duly and validly issued, fully paid and nonassessable, free and clear of all Liens imposed by the Company. The Warrant Shares, when issued in accordance with the terms of the Warrants, will be validly issued, fully paid and nonassessable, free and clear of all Liens imposed by the Company. The Company has reserved from its duly authorized capital stock the maximum number of shares of Common Stock issuable pursuant to this Agreement and the Warrants. The Company has prepared and filed the Registration Statement in conformity with the requirements of the Securities Act, which became effective on May 23, 2018 (the “Effective Date”), including the Prospectus, and such amendments and supplements thereto as may have been required to the date of this Agreement. The Registration Statement is effective under the Securities Act and no stop order preventing or suspending the effectiveness of the Registration Statement or suspending or preventing the use of the Prospectus has been issued by the Commission and no proceedings for that purpose have been instituted or, to the knowledge of the Company, are threatened by the Commission. The Company, if required by the rules and regulations of the Commission, shall file the Prospectus with the Commission pursuant to Rule 424(b). At the time the Registration Statement and any amendments thereto became effective, at the date of this Agreement and at the Closing Date, the Registration Statement and any amendments thereto conformed and will conform in all material respects to the requirements of the Securities Act and did not and will not contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein not misleading; and the Prospectus and any amendments or supplements thereto, at the time the Prospectus or any amendment or supplement thereto was issued and at the Closing Date, conformed and will conform in all material respects to the requirements of the Securities Act and did not and will not contain an untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading. The Company was at the time of the filing of the Registration Statement eligible to use Form S-3. The Company is eligible to use Form S-3 under the Securities Act and it meets the transaction requirements with respect to the aggregate market value of securities being sold pursuant to this offering and during the twelve (12) months prior to this offering, as set forth in General Instruction I.B.6 of Form S-3.

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