2Operations Security Sample Clauses

2Operations Security. On the Commercial Operations Date, the Company shall provide to Utility security (the “Operations Security”) in the amount of [AMOUNT] to ensure the completion and proper operation and maintenance of the Complex The Operations Security shall be an unconditional and irrevocable direct pay letter of credit issued by a bank acceptable to Utility in form and substance satisfactory to Utility. The amount of the Operations Security shall be adjusted from time to time in accordance with Schedule 6. The Operations Security may be applied to (i) the payment of liquidated damages and accrued interest thereon in accordance with Section 9.5; (ii) the repayment to Utility of amounts improperly drawn by the Company under the Letter of Credit, together with interest thereon as set forth in Section 9.7.4; and (iii) the payment of other Damages and interest that the Company shall be required to pay to Utility. Except as expressly provided in this Agreement, the Company shall maintain the Operations Security at the level designated in subsection (a) at all times; provided, however, that the Company may have [___________] Days from the date Utility gives notice to the Company that it has retained or collected funds from the Operations Security pursuant to this Section 9.4.2 to replenish the Operations Security so as to return it to the required level, as escalated. Upon termination of this Agreement, Utility shall be entitled to retain or collect, as the case may be, from the Operations Security any damages or moneys then due or reasonably expected to be due to Utility by the Company and shall pay or return to the Company the remainder of the Operations Security and accrued interest, if any. If, upon the termination of this Agreement, there shall be any dispute between the Company and Utility that has been referred to an expert for determination or is being arbitrated pursuant to the Agreement, then Utility shall be entitled to retain or collect, as the case may be, from the Operations Security, an amount equal to the damages or moneys that Utility, in its reasonable judgment, deems sufficient to satisfy any amount that may be due to Utility by reason of such dispute. Upon settlement or resolution of the dispute, Utility shall pay or return to the Company the remaining amount of Operations Security.56
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Related to 2Operations Security

  • Operations Security Supplier must enable logging and monitoring on all operating systems, databases, applications, and security and network devices that are involved in providing Deliverables. Supplier will maintain anti-malware controls that are designed to protect systems from malicious software, including malicious software that originates from public networks. In addition, Supplier will use anti-malware software (of Industry Standard or better quality), maintain such software at the then current major release, purchase maintenance & support available from the vendor for such software, and promptly implement new releases and versions of such software.

  • Obligations Secured The obligations secured hereby are any and all obligations of the Company now existing or hereinafter incurred to the Secured Party, whether oral or written and whether arising before, on or after the date hereof including, without limitation, those obligations of the Company to the Secured Party under this Agreement, the Transaction Documents, and any other amounts now or hereafter owed to the Secured Party by the Company thereunder or hereunder (collectively, the "Obligations").

  • E7 Security E7.1 The Authority shall be responsible for maintaining the security of the Authority’s Premises in accordance with its standard security requirements. The Contractor shall comply with all security requirements of the Authority while on the Authority’s Premises, and shall ensure that all Staff comply with such requirements.

  • Airport Security The Contractor shall be familiar with and conduct its operations in accordance with all regulations and directives of the Authority and the Transportation Security Administration, and any other federal, state or local government having jurisdiction over the airport, with respect to the maintenance of airport security.

  • Network Security 10.1 Protection of Service and Property. Each Party shall exercise the same degree of care to prevent harm or damage to the other Party and any third parties, its employees, agents or End User Customers, or their property as it employs to protect its own personnel, End User Customers and property, etc.

  • Premises Security 10.1 Security of premises and control of access.

  • JOB SECURITY 23.01 Subject to the willingness and capacity of individual employees to accept relocation and retraining, the Employer will make every reasonable effort to ensure that any reduction in the work force will be accomplished through attrition.

  • Operator’s Security Contact Information Xxxxxxx X. Xxxxxxx Named Security Contact xxxxxxxx@xxxxxxxxx.xxx Email of Security Contact (000) 000-0000 Phone Number of Security Contact

  • ARTICLE UNION SECURITY (a) It is agreed that all employees covered by this Agree- ment shall become and remain members of the Union in good standing as a condition of employment. New employees shall make application for membership in the Union at the time of their hiring and shall become and remain members of the Union in good standing, as a condition of employment. The Employer agrees that it will inform all new employees prior to or at the time of hiring of the Union security provisions of the Agree- ment. The Employer or designate will during the first three (3) weeks of each individual’s employment make known to the new employee the names and work locations of union stewards in the store. The Employer shall, during the term of this Agreement, as a condition of employment, deduct from members of the bargaining unit the regular weekly Union Dues and such Dues shall be remitted to the Union prior to the 15th day of the month following the month in which such deduction is made. The Employer shall notify the Union of new full-time employees’ classifications and rates of pay in addition to ter- minations, on a monthly basis. Deduction statements shall be documented by location, containing the full name of the employee and his starting date and social insurance number subject to the employee consenting to the use of his or her social insurance number. The Employer agrees to record the annual Union Dues deductions for each employee on his Form. Employers shall provide dues information to the Union in an electronic format acceptable to both parties. In the event that such weekly Dues are changed during the term of the Agreement, such change must be given to the Employer by notice properly authorized by Union Officials and shall become effective within one month following the date the notice is received. New employees shall be documented and documents for- warded to the Union Office within two (2) weeks of hiring. The first sixty (60) days worked at each store shall be con- sidered a probationary period. It is understood between the Employer and the Union that a probationary employee shall be considered an employee for all purposes of the Agree- ment save that a probationary employee may be dismissed at any time during the probationary period.

  • System Security (a) If any party hereto is given access to the other party’s computer systems or software (collectively, the “Systems”) in connection with the Services, the party given access (the “Availed Party”) shall comply with all of the other party’s system security policies, procedures and requirements that have been provided to the Availed Party in advance and in writing (collectively, “Security Regulations”), and shall not tamper with, compromise or circumvent any security or audit measures employed by such other party. The Availed Party shall access and use only those Systems of the other party for which it has been granted the right to access and use.

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