Waiver of Security Deposit Requirement for Airline’s Affiliate(s) Sample Clauses

Waiver of Security Deposit Requirement for Airline’s Affiliate(s). Notwithstanding the provisions of the airline operating agreement entered into by Airline’s Affiliate(s) with the City, if, and for the period that, Airline qualifies for a waiver of the Security Deposit requirement as set forth in Subsection 506(D) above, the City will waive the Security Deposit applicable to Airline’s Affiliate(s) to the extent of Airline’s guarantee in accordance with Section 512; provided, however, that any Affiliate that is under an event of default in accordance with the terms of that Affiliate’s operating agreement with the City shall not be eligible or shall be deemed ineligible, as the case may be, for the security deposit waiver.
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Related to Waiver of Security Deposit Requirement for Airline’s Affiliate(s)

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