Financial Close Security Clause Samples
Financial Close Security. In the event that Financial Close does not occur on the Effective Date, and unless earlier delivered by or on behalf of Developer to Authority, Developer will deliver the Financial Close Security to Authority on the Effective Date, and Authority will return the same not later than two Business Days following Financial Close.
Financial Close Security. On or before the Commercial Close Date, Developer delivered to PGCPS cash, in escrow, and/or one or more standby letter(s) of credit, financial close bond(s), or demand guarantee(s) in an aggregate amount equal to Ten Million Dollars ($10,000,000.00) (the “Financial Close Security”). The Financial Close Security shall designate PGCPS as the beneficiary.
Financial Close Security. Concurrently with execution of this Agreement, the Developer shall deliver, or has delivered, the Financial Close Security to the LA DOTD. Subject to the LA DOTD’s rights under this Agreement, the LA DOTD will return to Developer the Financial Close Security within seven days after the Financial Close Date.
Financial Close Security. 2.2.1.1 Developer shall have delivered to the Owner the Financial Close Security as a condition precedent to the effectiveness of this Agreement.
2.2.1.2 Within five (5) Business Days following (a) the achievement of Financial Close, or (b) termination of this Agreement under Section 21.1.1, as applicable, the Owner will return the Financial Close Security to Developer.
Financial Close Security