Agreement Security Sample Clauses

Agreement Security. Interconnection Customer shall provide to TVA security as specified below for compliance with the provisions of this Agreement in the form of an unconditional and irrevocable letter of credit (“Security”) issued by an Acceptable Financial Institution (as defined in Section GP-9.3) and substantially in the form of Attachment 1 (Form of Letter of Credit) to this Exhibit GP or otherwise in form and substance reasonably acceptable to TVA.

Agreement Security. (a) Unless Airline has provided regularly scheduled passenger flights to and from the Airport for the eighteen (18) months prior to Airline’s execution of this Agreement (or prior to the assignment of this Agreement to Airline) without committing an act or omission that would have been a default, breach, matter or condition (“Default”) under this Article XV if this Agreement had been in effect during this period, Airline shall provide City on the execution of this Agreement (or on the assignment of this Agreement to Airline) with a contract bond, irrevocable letter of credit or other security acceptable to City (“Agreement Security”) in an amount equal to three (3) months’ rentals, fees and charges payable by Airline under Article VII of this Agreement, to guarantee the faithful performance by Airline of its obligations under this Agreement and the payment of all rentals, fees and charges due hereunder. Airline shall be obligated to maintain such Agreement Security in effect until the expiration of eighteen (18) consecutive months (including any period prior to Airline’s execution of this Agreement or prior to the assignment of this Agreement of Airline during which Airline provided regularly scheduled passenger flights to and from the Airport) during which Airline commits no act of Default under this Article XV of this Agreement (and for any such prior period, no act or omission that would have been a Default hereunder). Such Agreement Security shall be in such form and with such company as shall be acceptable to the Director of Port Control through the use of reasonable discretion. In the event that any such Agreement Security shall be for a period of less than the full period required by this Agreement, or if such Agreement Security may be cancelled, Airline shall provide to the Director of Port Control a renewable or replacement Agreement Security for the period following the expiration or cancellation of such Agreement Security previously provided at least thirty (30) days prior to the date on which such previous Agreement Security expires or at least thirty (30) days prior to the effective date of such cancellation. (b) If Airline shall commit an act of Default under this Article XV of this Agreement, the Director of Port Control shall have the right by written notice to Airline given at any time within ninety (90) days of such Default, to impose or reimpose the requirements of Section 15.04(a) above on Airline. In such event, Airline shall within fi...

Agreement Security. The CONTRACTOR shall obtain and maintain throughout the term of this Agreement at its expense for the term of this Agreement both a Performance Bond and a Payment Bond as described below. Each Bond shall be written by a surety licensed in the State of Florida and acceptable to the CITY. The form of each Bond shall be subject to approval by the CITY and shall be reasonably acceptable to CITY based upon other CITY contracts for similar sized projects. Unless otherwise agreed by CITY, the surety shall be chosen from a list of sureties approved by the federal government for federal government projects (pursuant to the Department of Treasury’s most recent edition of its “Circular 570”, or any subsequent list of approved sureties for federal projects as published by the Department of Treasury or other applicable federal agency), and the form of the bond may in the CITY’S discretion be in a federally-approved form. The amount of the bonds shall be as follows: 6.6.1 Performance Bond - One hundred percent (100%) of the projected annual payment to the CONTRACTOR under this Agreement, computed based on the total actual tons of Accepted Waste received at the Facility during the previous calendar year and tonnage fees then currently in effect as updated annually.