Common use of Financial Security Clause in Contracts

Financial Security. In compliance with the requirements of state law, ▇▇▇▇▇▇ agrees that it will secure the performance of the rental portion of this Lease by procuring and maintaining, during the term of this Lease, a corporate surety bond, a cash deposit, or by providing other financial security satisfactory to Lessor (herein referred to as the “Bond”), in an amount not less than two months (16.67%) of the sum of annual Rent, plus state leasehold excise tax. The Bond shall be in a form and issued by a surety company acceptable to Lessor and shall comply with the requirements of Washington law. Lessee shall obtain such Bond and forward evidence thereof to Lessor within fourteen (14) days of execution of this Lease, but in no event later than the Commencement Date of this Lease. Failure to comply with this requirement shall be grounds for termination of this Lease without notice by ▇▇▇▇▇▇. Such Bond shall be kept always in effect during the term of this Lease; failure to comply with this requirement shall render Lessee in default. The Bond shall be increased annually to reflect any adjustments in annual Rent. Upon any default by Lessee in its obligations under this Lease, Lessor may collect on the Bond to offset the liability of Lessee to Lessor. Collection on the Bond shall not relieve Lessee of liability, shall not limit any of Lessor’s other remedies, and shall not reinstate or cure the default or prevent termination of the Lease because of the default.

Financial Security. 5.4.1 In compliance with the requirements of state lawRCW 53.08.085 (as presently codified or hereafter amended) and other laws of the State of Washington, ▇▇▇▇▇▇ Lessee agrees that it will secure the its performance of the rental portion of this Lease by procuring and maintaining, during the term of this Lease, a corporate surety bond, a cash deposit, or by providing other financial security satisfactory to Lessor the Port (herein referred to as the “Bond”), in an amount not totaling: □ One-sixth of the total Rent for the then-current term of this Lease. □ Not less than two months One-Hundred percent (16.67100%) of the sum of annual Rent, plus state leasehold excise tax. □ Other: It is anticipated the Port Commission will exercise its authority and discretion pursuant to RCW 53.08.085 to waive any security requirement for the Lease. 5.4.2 The Bond shall be in a form and issued by a surety company acceptable to Lessor the Port and shall comply with the requirements of Washington law. Lessee shall obtain such Bond and forward evidence thereof to Lessor the Port within fourteen thirty (1430) days of execution of this Lease, but in no event later than the Commencement Date of this Lease. Failure to comply with this requirement shall be grounds for termination of this Lease without notice by ▇▇▇▇▇▇the Port. Such Bond shall be kept always in effect during the term of this Lease; failure . Failure to comply with this requirement shall render Lessee in default. The Bond shall be increased annually to reflect any adjustments in annual Rent. No future amendment or extension to this Lease shall be effective until the Port, surety or insurer has given its consent thereto and the amount of the Bond has been adjusted as required. 5.4.3 Upon any default by Lessee in its obligations under this Lease, Lessor and Lessee’s failure to cure such default in accordance with its right to do so under this Lease, the Port may collect on the Bond to offset the liability of Lessee to Lessorthe Port. Collection on the Bond shall not relieve Lessee of liabilityliability for any amounts not offset by the amount collected under the Bond, shall not limit any of Lessorthe Port’s other remedies, and shall not reinstate or cure the default or prevent termination of the Lease because of the default. 5.4.4 Any Bond may provide for termination on the anniversary date thereof upon not less than one (1) year's written notice to the Port if the Lease is not in default at the time of said notice. In the event of any such termination, Lessee shall obtain a new Bond or other security, also subject to the Port approval, to replace the security being so terminated to be effective on or before the date of termination.

Financial Security. In compliance with the requirements of state law, ▇▇▇▇▇▇ agrees that it will secure the performance of the rental portion of this Lease by procuring and maintaining, during the term of this Lease, a corporate surety bond, a cash deposit, or by providing other financial security satisfactory to Lessor (herein referred to as the “Bond”), in an amount not less than two months (rent ( 16.67%) of the sum of annual Rent, plus state leasehold excise tax. The Bond shall be in a form and issued by a surety company acceptable to Lessor and shall comply with the requirements of Washington law. Lessee shall obtain such Bond and forward evidence thereof to Lessor within fourteen (14) days of execution of this Lease, but in no event later than the Commencement Date of this Lease. Failure to comply with this requirement shall be grounds for termination of this Lease without notice by ▇▇▇▇▇▇. Such Bond shall be kept always in effect during the term of this Lease; failure to comply with this requirement shall render Lessee in default. The Bond shall be increased annually to reflect any adjustments in annual Rent. Upon any default by Lessee in its obligations under this Lease, Lessor may collect on the Bond to offset the liability of Lessee to Lessor. Collection on the Bond shall not relieve Lessee of liability, shall not limit any of Lessor’s other remedies, and shall not reinstate or cure the default or prevent termination of the Lease because of the default.

Financial Security. In compliance with the requirements of state law, ▇▇▇▇▇▇ Lessee agrees that it will secure the performance of the rental portion of this Lease by procuring and maintaining, during the term Term of this Lease, a corporate surety bond, a cash deposit, or by providing other financial security satisfactory to Lessor (herein referred to as the “Bond”), ) in an amount not less than two months Thirty Three percent (16.6733%) of the sum of annual Rent, plus state leasehold excise tax. The Bond shall be in a form and issued by a surety company acceptable to Lessor and shall comply with the requirements of Washington law. Lessee shall obtain such Bond and forward evidence thereof to Lessor within fourteen (14) days of execution of this Lease, but in no event later than the Commencement Date of this Lease. Failure to comply with this requirement shall be grounds for termination of this Lease without notice by ▇▇▇▇▇▇Lessor. Such Bond shall be kept always in effect during the term Term of this Lease; failure to comply with this requirement shall render Lessee in default. The Bond shall be increased annually to reflect any adjustments in annual Rent. . 5.3.1 Upon any default by Lessee in its obligations under this Lease, Lessor may collect on the Bond to offset the liability of Lessee to Lessor. Collection on the Bond shall not relieve Lessee of liability, shall not limit any of Lessor’s other remedies, and shall not reinstate or cure the default or prevent termination of the Lease because of the default.

Financial Security. In compliance with the requirements of state law, ▇▇▇▇▇▇ agrees that it will secure the performance of the rental portion of this Lease by procuring and maintaining, during the term of this Lease, a corporate surety bond, a cash deposit, or by providing other financial security satisfactory to Lessor (herein referred to as the “Bond”), in an amount not less than two three months (16.67%) of the sum of annual Base Rent, plus state leasehold excise tax. The Bond shall be in a form and issued by a surety company acceptable to Lessor Lessor, and shall comply with the requirements of Washington law. Lessee shall obtain such Bond and forward evidence thereof to Lessor within fourteen (14) days of execution of this Lease, but in no event later than the Commencement Date of this Lease. Failure ; failure to comply with this requirement shall be grounds for termination of this Lease without notice by ▇▇▇▇▇▇Lessor. Such Bond shall be kept always in effect during the term of this Lease; failure to comply with this requirement shall render Lessee in default. The Bond shall be increased annually to reflect any adjustments in annual Rent. Upon any default by Lessee in its obligations under this Lease, Lessor may collect on the Bond to offset the liability of Lessee to Lessor. Collection on the Bond shall not relieve Lessee of liability, shall not limit any of Lessor’s other remedies, and shall not reinstate or cure the default or prevent termination of the Lease because of the default.

Financial Security. In compliance with the requirements of state law, ▇▇▇▇▇▇ agrees that it will secure the performance of the rental portion of this Lease by procuring and maintaining, during the term of this Lease, a corporate surety bond, a cash deposit, or by providing other financial security satisfactory to Lessor (herein referred to as the “"Bond”"), in an amount not less than two months (16.67%) of the sum of annual Rent, plus state leasehold excise tax. The Bond shall be in a form and issued by a surety company acceptable to Lessor and shall comply with the requirements of Washington law. Lessee shall obtain such Bond and forward evidence thereof to Lessor within fourteen (14) days of execution of this Lease, but in no event later than the Commencement Date of this Lease. Failure to comply with this requirement shall be grounds for termination of this Lease without notice by ▇▇▇▇▇▇. Such Bond shall be kept always in effect during the term of this Lease; failure to comply with this requirement shall render Lessee in default. The Bond shall be increased annually to reflect any adjustments in annual Rent. Upon any default by Lessee in its obligations under this Lease, Lessor may collect on the Bond to offset the liability of Lessee to Lessor. Collection on the Bond shall not relieve Lessee of liability, shall not limit any of Lessor’s 's other remedies, and shall not reinstate or cure the default or prevent termination of the Lease because of the default.