Payment Security definition

Payment Security means an acceptable bond, irrevocable letter of credit or other similar security acceptable to Authority in an amount equal to the estimate of three (3) months’ Rents, tax assessments, and charges, payable by Company under this Agreement, to guarantee the faithful performance by Company of its obligations under this Agreement and the payment of all Rents, tax assessments and charges due under this Agreement, the Resolution, or Company’s Basic Agreement, as applicable.
Sample 1Sample 2Sample 3
Payment Security shall have the meaning set forth in Section 4.4. SAMPLE
Sample 1Sample 2Sample 3
Payment Security shall have the meaning ascribed thereto in Article 10.4 of this Mechanism” Agreement;
Sample 1Sample 2Sample 3

Examples of Payment Security in a sentence

  • The forms for Performance Security and Advance Payment Security, when required, shall only be completed by the successful tenderer after contract award.

  • If Payment Security is required on the Cover Sheet, Forum shall deliver to Customer an invoice for the Payment Security identified on the Cover Sheet.

  • Following such termination, Forum shall return any Payment Security and neither Party shall have any further liability hereunder.

  • Upon any such termination, Customer shall pay any remaining amounts owed to Forum and, if applicable, Forum shall return any Payment Security following receipt of such payment.


More Definitions of Payment Security

Payment Security has the meaning ascribed to it in Clause 6.8.
Sample 1Sample 2
Payment Security means security in the form of a bank guarantee as per the format mentioned under Schedule VI, which the Concessionaire shall provide to CoC for the payment of Concession Fee in accordance with Article 6.1.
Sample 1Sample 2
Payment Security means security to guarantee payment for labor and materials under a construction contract. “Performance security” is defined as security to guarantee the performance of a construction contract. Security is usually provided by a contractor in the form of a surety bond.
Sample 1Sample 2
Payment Security means security to guarantee payment to the 9 utility contractor, subcontractors, and suppliers that provide labor, materials, or
Sample 1Sample 2
Payment Security means support for Buyer’s payment obligation as described in Section
Sample 1Sample 2
Payment Security means the prepayment, Parent Company Guarantee, a guarantee from a guarantor acceptable to the Seller, a bank guarantee or any other financial instrument agreed between the Parties.
Sample 1Sample 2
Payment Security. Parties often put in place mechanisms to prevent interruptions to the projected stream of payments under the PPA.
Sample 1