Handover Security Sample Clauses

Handover Security. 10.3.1 Twelve (12) months prior to the Handover Date or immediately after the issuance of a Termination Notice by either Party in case of Early Termination of this Agreement, the Concessionaire shall provide to the Grantor an unconditional and irrevocable on-demand bank guarantee, issued by a bank with a credit rating of at least AA- under the Standard and Poor's rating or with Aa3 under the ▇▇▇▇▇'▇ rating or such other rating as the relevant Public Authority may agree, in accordance with the Applicable Law (the "Handover Security") for an amount in US Dollars equal to the sum of: (a) the amount of the Operation Security to be issued at that time by the Concessionaire in accordance with the provisions of Article 10.2; and (b) the amount determined by the Independent Expert in carrying out the first Handover Condition Survey in accordance with Article 45.2.1.1, and in the form set out in Appendix 9 (Security Forms), to secure the due performance of the Concessionaire's handover obligations under Article 45. If the rating of the bank issuing the Handover Security falls at any time below the rating required under this Article 10.3.1, the Concessionaire shall, as soon as possible, issue a new Handover Security for the same amount remaining at the time of such occurrence, with a bank of a rating complying with the rating required under this Article 10.3.1. 10.3.2 The Handover Security shall be valid for a period of twenty-four (24) months following the Handover Date unless cancelled earlier by the Grantor. 10.3.3 Promptly after the Handover Security is issued, the Grantor shall return to the Concessionaire the Operation Security. 10.3.4 Without prejudice to any other right which the Grantor may have under this Agreement, the Grantor shall have the right to draw on the Handover Security and claim the amount guaranteed on demand upon the Concessionaire's failure to honour any of its obligations, responsibilities or commitments contained in, arising from or related to those contained in Article 45.
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Handover Security. 10.3.1 Twelve (12) months prior to the Handover Date (or immediately after the issuance of the Termination Notice by either Party in case of Early Termination of this Agreement), the Concessionaire shall provide to the Grantor an unconditional and irrevocable on-demand bank guarantee, issued by a bank reasonably acceptable to the Grantor and with a credit rating of at least BBB under the Standards and Poor's rating or with Baa2 under the ▇▇▇▇▇'▇ rating for the amount which shall be determined by the Independent Expert in the first survey to be prepared in accordance with Article 45.1.2, and in the form set out in Appendix 9 (Security Forms) to secure the due performance of the Concessionaire's handover obligations under Article 45 (the "Handover Security"). If the rating of the bank issuing the Handover Security falls at any time below the minimum-required rating specified in this Article, the Concessionaire shall, as soon as possible, issue a new Handover Security for the same amount remaining at the time of such occurrence, with a bank of a rating complying with this Article. 10.3.2 The Handover Security shall be valid for a period of twenty-four (24) months following the Handover Date unless cancelled earlier by the Grantor.
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Related to Handover Security

  • Server Security Servers containing unencrypted PHI COUNTY discloses to 4 CONTRACTOR or CONTRACTOR creates, receives, maintains, or transmits on behalf of COUNTY 5 must have sufficient administrative, physical, and technical controls in place to protect that data, based 6 upon a risk assessment/system security review.

  • Cyber Security Insurance for loss to the Owner due to data security and privacy breach, including costs of investigating a potential or actual breach of confidential or private information. (Indicate applicable limits of coverage or other conditions in the fill point below.) « »

  • User Security You agree to take every precaution to ensure the safety, security and integrity of your account and transactions when using Mobile Banking. You agree not to leave your Device unattended while logged into Mobile Banking and to log off immediately at the completion of each access by you. You agree not to provide your username, password or other access information to any unauthorized person. If you permit other persons to use your Device, login information, or other means to access Mobile Banking, you are responsible for any transactions they authorize and we will not be liable for any damages resulting to you. You agree not to use any personally identifiable information when creating shortcuts to your Account. We make no representation that any content or use of Mobile Banking is available for use in locations outside of the United States. Accessing Mobile Banking from locations outside of the United States is at your own risk.

  • Tender Security 18.1 The Tenderer shall furnish as part of its Tender, either a Tender-Securing Declaration or a Tender Security, as specified in the TDS, in original form and, in the case of a Tender Security, in the amount and currency specified in the TDS. 18.2 A Tender Securing Declaration shall use the form included in Section IV, Tendering Forms. 18.3 If a Tender Security is specified pursuant to ITT 18.1, the Tender Security shall be a demand guarantee in any of the following forms at the Tenderer option: i) cash; ii) a bank guarantee; iii) a guarantee by an insurance company registered and licensed by the Insurance Regulatory Authority listed by the Authority; or

  • Other Security To the extent that the Obligations are now or hereafter secured by property other than the Collateral or by the guarantee, endorsement or property of any other person, firm, corporation or other entity, then the Secured Party shall have the right, in its sole discretion, to pursue, relinquish, subordinate, modify or take any other action with respect thereto, without in any way modifying or affecting any of the Secured Party’s rights and remedies hereunder.