Common use of Apply Security Clause in Contracts

Apply Security. The LFC may, without recourse to the Service Provider, deduct any overdue amount owed by the Service Provider under this Agreement (other than amounts that are subject to a dispute in accordance with clauses 7.6 or 7.7) from any Security,and if it does so it will promptly notify the Service Provider of the amount deducted. Any such deduction will be without prejudice to the Service Provider’s continuing obligation to maintain the Security in accordance with the requirements of clause 8.2. The Service Provider will ensure that, within ten

Apply Security. The LFC may, without recourse to the Service Provider, deduct any overdue amount owed by the Service Provider under this Agreement (other than amounts that are subject to a dispute in accordance with clauses 7.6 or 7.7) from any Security,, and if it does so it will promptly notify the Service Provider of the amount deducted. Any such deduction will be without prejudice to the Service Provider’s continuing obligation to maintain the Security in accordance with the requirements of clause 8.2. The Service Provider will ensure that, within tenclause