Examples of Adequate Assurance in a sentence
In addition to any other Adequate Assurance, SCO Supplier shall be required to post the Default Fee Collateral with Columbia to secure payment of the Default Fee on all volumes that the SCO Supplier is obligated to serve during the term of this Agreement.
SCO Supplier agrees that, in the Event of Default as defined in this Agreement that is not remedied within the time period specified in the Tariff, and in addition to any other rights and remedies Columbia may enjoy, Colum- bia shall have the right to liquidate and use the proceeds from any and all of SCO Supplier’s Adequate Assurance to satisfy SCO Supplier’s obligations under the Agreement.
If Columbia has reasonable grounds for insecurity regarding the performance of any obligation under the Agree- ment (whether or not then due) by SCO Supplier (including, without limitation, the occurrence of a material change in the creditworthiness of SCO Supplier), Columbia may demand Adequate Assurance.
Y hereby grants to X a continuing first priority security interest in, lien on and right of setoff against all Adequate Assurance of Performance in the form of cash transferred by Y to X pursuant to this Section 10.1. Upon the return by X to Y of such Adequate Assurance of Performance, the security interest and lien granted hereunder on that Adequate Assurance of Performance shall be released automatically and, to the extent possible, without any further action by either party.
SCO Supplier agrees that, in the Event of Default as defined in this Agreement, and in addition to any other rights and remedies Columbia may enjoy, Columbia shall have the right to liquidate and use the proceeds from any and all of SCO Supplier’s Adequate Assurance to satisfy SCO Supplier’s obligations under the Agreement.