Insufficient Security Clause Samples
The Insufficient Security clause defines the obligations and liabilities of parties in the event that security measures are deemed inadequate to protect data or assets. Typically, this clause outlines the minimum security standards required, the process for identifying and remedying deficiencies, and the consequences if those standards are not met, such as notification requirements or potential liability for breaches. Its core function is to ensure that both parties maintain appropriate security protocols, thereby reducing the risk of data breaches and clarifying responsibility if a security failure occurs.
Insufficient Security. No Artist shall work for, or be required to work for, or continue in the engagement of any Theatre, should the amount of security deposited or arranged with Equity be insufficient to satisfy the terms of Article 33:00 of this Agreement and/or insufficient security for the payment of any outstanding claim.
Insufficient Security. If the proceeds of the Security are not sufficient to cover the items listed in Article 3.6, the Owners agree to pay any shortfall to the City within thirty (30) days of being invoiced. Despite any other terms in this Agreement, if the Owners fail to pay the shortfall within thirty (30) days, the City may offset any shortfall against any Overexpenditure Recovery Amounts that would have otherwise been payable to the Owners as outlined in Article 2, or any other funds that would otherwise be payable to the Owners by the City under this Agreement.
Insufficient Security. If Purchaser defaults in carrying out Final Decommissioning as and when required, and one of the Sellers undertakes the Final Decommissioning, the calling of any Decommissioning Security or Backstop Letter of Credit shall not release or discharge the Final Decommissioning obligations of the Purchaser, and if the Decommissioning Security, together with any Backstop Letter of Credit, is insufficient to cover the full costs of the Final Decommissioning, Purchaser shall indemnify the Sellers for any amounts which any Seller incurs in carrying out the Final Decommissioning in excess of the amounts received as a result of calling the Decommissioning Security and any Backstop Letter of Credit.
Insufficient Security. If at any time DevelopmentWA reasonably considers the Bonded Amount does not represent sufficient security to DevelopmentWA, having regard to the User's undischarged liabilities (including any contingent liabilities) or obligations under this Agreement, the User will, within 5 Business Days after receiving written Notice from DevelopmentWA to do so, procure a replacement or additional bond from one or more sureties reasonably acceptable to DevelopmentWA. In any such event, this Agreement will be construed (as the context permits) so that Conditions 11.2 to 11.4 (inclusive) apply equally to the replacement or additional bond.
Insufficient Security. Any determination by ExxonMobil, in its sole determination, that ExxonMobil has insufficient security for payment of amounts owing by Distributor.
Insufficient Security. If at any time the Operator reasonably considers the Bonded Amount does not represent sufficient security to the Operator, having regard to the User's undischarged liabilities (including any contingent liabilities) or obligations under this Agreement, the User must, within five (5) Business Days after receiving written Notice from the Operator to do so, procure a replacement or additional bond from one or more sureties reasonably acceptable to the Operator. In any such event, this Agreement will be construed (as the context permits) so that clauses 12.2 to 12.4 (inclusive) apply equally to the replacement or additional bond.