Common use of W ithdrawals from the Security Fund Clause in Contracts

W ithdrawals from the Security Fund. In the circumstances described in § 9.3 hereof, the City may withdraw from the Security Fund such amount as necessary to satisfy (to the degree possible) the Company’s obligations not otherwise met and to reimburse the City for costs, losses, or damages incurred as the result of the Company’s failure(s) to meet its obligations, provided, however, that the City may not make any withdrawal by reason of any breach or default until the Company has been given notice of such breach or default in accordance with § 9.2.2 hereof. The City may not seek recourse against the Security Fund for any costs or damages for which the City has previously been compensated through a withdrawal from the Security Fund or otherwise by the Company.