Concessionaire Closing Security and Performance Security Sample Clauses

Concessionaire Closing Security and Performance Security. 3.2.1 The Concessionaire shall procure that the Closing Security is issued on or about fifteen (15) Business Days as of the date of signing of this Agreement by the Parties and remains valid and binding until the earlier of (i) the expiry of the period of sixty (60) Days following the Required Effective Date and (ii) the date which is three hundred and sixty-five (365) Days after the date of commencement of validity of the Closing Security ("Closing Security End Date"). 3.2.2 If the Closing Security, notwithstanding Clause 3.2.1, has an expiry date prior to the Closing Security End Date, the Concessionaire shall no later than forty-five