Consumer Protection; Financial Security Sample Clauses

Consumer Protection; Financial Security. Project Sponsor shall provide financial security, to be held by Standard Buyer, as ordered by the Commission in accordance with section 9 of Chapter 312 of the Commission’s Rules, and will comply with any Commission Order regarding payments to be made from such security to subscribers following a finding of violation of consumer protection provisions or to the Commission for the payment of administrative penalties or any other sanction pursuant to Chapter 312 or other applicable statute or rule. Any cash provided by Project Sponsor as Financial Security for consumer protection purposes shall be held in an interest-bearing deposit account selected by Standard Buyer in its reasonable discretion; provided, however, that Standard Buyer shall have no obligation to segregate any cash provided as Financial Security in a segregated account. Interest shall accrue on the cash deposit at the daily Federal Funds Rate and shall be retained in that account. At any time during the Term, Project Sponsor may deliver to Standard Buyer Financial Security as allowed by the Commission. If an acceptable form of non-cash security is received by Project Sponsor, Standard Buyer shall release the Cash Financial Security along with any accrued interest. At the expiration of the Term, Standard Buyer shall return or release all unused Financial Security to Project Sponsor within ten (10) Business Days.
Sample 1
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Consumer Protection; Financial Security. Standard Buyer shall accept and hold Project Sponsor’s deposit of financial security in support of Project Sponsor’s consumer protection obligations as described in subsection 5.2(i).
Sample 1

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