Financial Assurance. The Lessee must provide and maintain at all times a surety bond(s) or other form(s) of financial assurance approved by the Lessor in the amount specified in Addendum “B.” As required by the applicable regulations in 30 CFR Part 585, if, at any time during the term of this lease, the Lessor requires additional financial assurance, then the Lessee must furnish the additional financial assurance required by the Lessor in a form acceptable to the Lessor within 90 days after receipt of the Lessor’s notice of such adjustment.
Financial Assurance. The Lessor will base the determination for the amounts of all SAP, COP, and decommissioning financial assurance requirements on estimates of the cost to meet all accrued lease obligations. The Lessor determines the amount of supplemental and decommissioning financial assurance requirements on a case-by-case basis. The amount of financial assurance required to meet all lease obligations includes: The projected amount of rent and other payments due the Lessor over the next 12 months; Any past due rent and other payments; Other monetary obligations (e.g., fines, liens); and The estimated cost of facility decommissioning.
Financial Assurance. A. Unless waived by the Commissioner in writing, and before the commencement of mining activity, the Lessee shall provide financial assurance to guarantee payment of royalties and to comply with the terms and conditions of this Lease other than reclamation, which is covered under 19.2.2.39 NMAC. The Commissioner will determine the amount of financial assurance required.
Financial Assurance. 47. EPA, the States, and the Debtors shall take all appropriate steps under each financial assurance instrument to release all financial assurance maintained by the Debtors at Liquidated Sites or Transferred Real Properties, as listed in Exhibit E to this Settlement Agreement, within thirty days after the Debtors transfer all funds pursuant to Sections VI and XI of this Settlement Agreement.
Financial Assurance. (A) Financial Assurance under RCRA for closure, long-term care and corrective action at the Rowley Site shall be governed by the terms of the Utah Consent Decree, which controls. The Utah Consent Decree shall provide that financial assurance for closure and post- closure under RCRA will be based on the cost of a salt cap closure pending the outcome of the Salt Cap Study. US Mag shall implement the Salt Cap Study under the terms of the current or revised RI/FS administrative order, and on a timetable to be agreed upon by EPA and US Mag. If, based on the results of the Salt Cap Study, EPA determines that a salt cap is not adequately protective, US Mag shall submit a revised closure plan and cost estimate based on traditional closure technologies, and financial assurance shall be based on that cost estimate. If EPA determines that a salt cap would be adequately protective, then financial assurance shall continue to be based on that closure technology. Any determinations concerning the Salt Cap Study, whether a salt cap would be adequately protective, or the selection of the ultimate closure plan for the Retrofitted Pond, will be subject to the dispute resolution provisions of the Utah Consent Decree.
Financial Assurance. The Borrowers shall timely comply or cause compliance with the requirements of any Act or any other Law concerning Financial Assurance. If any funds are drawn on any Financial Assurance at any time, the Borrowers shall promptly notify the Agent in writing of the amount of and the reason for the draw. The Borrowers shall not maintain more in Financial Assurance than is required pursuant to any Act or any Law at any time. At the earliest available opportunity under any Act or other Law, the Borrowers shall request that the amount of Financial Assurance be reduced if and as permitted under the Act, or such other Law.
Financial Assurance. The relevant States and Debtors shall take all necessary steps to cancel or release the financial assurance instruments listed in Attachment D to this Settlement Agreement at the time the Environmental Response Trust is funded. Upon the Effective Date and Debtors’ transfer of the Properties and full funding of the Environmental Response Trust Accounts as set forth in Paragraphs 30 through 32 of this Settlement Agreement, and the funding of the Expendable Trust for the Framingham Landfill Site in Massachusetts and the 807 Trust Fund for the Danville Landfill Property in Illinois as required by Paragraphs 79 and 80 of this Settlement Agreement, the Governments agree not to seek and covenant not to sue or assert any administrative or other civil claims or causes of action against Debtors, the Environmental Response Trust or the Administrative Trustee, solely in his official capacity, with respect to any financial assurance required under environmental law relating to the Properties.
Financial Assurance. If Client admits in writing its inability to pay its debts as they become due, makes a general assignment for the benefit of its creditors, institutes or agrees to the institution of proceedings in bankruptcy or insolvency, or is the subject of a court order relating thereto, or if Laboratory in good faith determines that Client may not be able to timely pay for Services performed under the Agreement, Laboratory may refuse to perform additional Services until Client delivers adequate financial assurance to Laboratory, which may include advance cash payment, a guarantee from a creditworthy entity acceptable to Laboratory, or a letter of credit from a nationally recognized financial institution.
Financial Assurance. The Lessor will base the determination for the amounts of all Site Assessment Plan (SAP), COP, and decommissioning financial assurance requirements on estimates of the cost to meet all accrued lease obligations. The Lessor will determine the amount of supplemental and decommissioning financial assurance requirements on a case-by-case basis. The amount of financial assurance required to meet all lease obligations includes:
Financial Assurance. The State commissioned the final Independent Risk Analysis for the Straits Pipelines (Xxxxxxx, et al., September 15, 2018) (hereinafter “Independent Risk Analysis”) to assess a worst-case discharge from the Dual Pipelines, including the cost of responding to that worst-case discharge. Enbridge strongly disagrees with the methods and conclusions of the Independent Risk Analysis report, and nothing in this Second Agreement shall be construed to constitute Enbridge’s acceptance of those methods and conclusions. Enbridge nonetheless agrees that, so long as it continues to operate the Dual Pipelines, the Enbridge entity or entities that own and operate Line 5, or the parent companies of such Enbridge entity(ies), will maintain in force financial assurance mechanisms that meet or exceed the $1,878,000,000 estimate of Enbridge’s potential total quantifiable response liability for a worst-case discharge from the Dual Pipelines that is identified in the Independent Risk Analysis. To demonstrate compliance with this requirement, on an annual basis Enbridge will file with the State updated financial assurance information in a format similar to that provided in Appendix 3. Enbridge further agrees that, upon the request by the State, it will on an annual basis, make available to the State for inspection and review information regarding the amount, availability, and changes to liability insurance that it maintains. The State agrees that Enbridge’s compliance with the requirements under this Paragraph I.J. satisfies its financial assurance obligations specified under Paragraph J of the Easement.
