Security Payment definition

Security Payment means a security payment specified in Clause 7.3 of the Preliminary Agreement that is a way to secure performance of the Lessee’s obligations under and in connection with the Preliminary Agreement, in the meaning specified in Article 381.1 of the Civil Code of the Russian Federation;
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Security Payment means, together, the First Part of the Security Payment and the Second Part of the Security Payment;
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Security Payment means money received by, and that is gross income of, the holder of a security arrangement for any loss suffered because that arrangement is not performed. A “security arrangement” is a financial arrangement that secures the holder against failure of a person to perform their obligations under another arrangement. That other arrangement does not need to be a financial arrangement. A payment made under a guarantee is a security payment.
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Examples of Security Payment in a sentence

  • Deviations or reservations to critical provisions such as those concerning Performance Security, Payment Terms and Delivery of works will be deemed to be a material deviation.

  • The Lessor and the Lessee agree that the Security Payment is a method expressly specified in the Civil Code of the Russian Federation to ensure that the Lessee fulfills its obligations under this Lease Agreement.

  • If the Lessee does not object to the received notice of deduction, the Lessee is obliged to restore the amount of the Security Payment to the originally agreed amount within seven (7) banking days from the date of receiving the notice of deduction.

  • The availability of the Security Payment and an opportunity of deductions from it do not release the Lessee from responsibility to fulfill its financial obligations stipulated in the Agreement (in full or in part).

  • The amount of the Security Payment is at the disposal of the Lessor (and can be used by it) until the amount of the Security Payment shall be returned to the Lessee in the event of the lease term expiration or the Agreement termination; however, no interest for the disposal and use of the Security Payment amount in favour of the Lessee is accrued or paid.


More Definitions of Security Payment

Security Payment means the amount which we may ask you to provide us with
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Security Payment. As specified in Section 5.4.
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Security Payment means any payment or distribution by or on behalf of the Company or any of its Subsidiaries, directly or indirectly, of assets of the Company or any of its Subsidiaries of any kind or character, whether in cash, property or securities, on account of the Securities, any of the other Related Documents or any Securities Amounts (including the purchase, redemption or other acquisition thereof), as a result of any collection, sale or other disposition of Collateral, or by setoff, exchange or in any other manner.
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Security Payment means a payment of two thousand dollars ($2,000) payable by the Buyer to secure its obligations under this Contract where they have made a Land Rent Lease Election; Specimen Crown Lease means the Specimen Land Rent Lease and the Specimen Standard Lease; Specimen Land Rent Lease means the specimen land rent lease annexed to this Contract; Specimen Standard Lease means the specimen standard lease annexed to this Contract;
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Security Payment means an amount which we may ask you to provide us in advance to secure a Contract;
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Security Payment means Security Payment 1 or Security Payment 2, as applicable;
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Security Payment means the payment by the Company under the Securities on the Security Maturity Date.
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