Owner Security Clause Samples

Owner Security. (a) Owner shall be required to post Credit Support in the amount of $4,983,480.00 (“Owner Security”) to secure Owner’s obligations under this Agreement in the period beginning on the Effective Date and continuing through and including the date that all of Owner’s obligations under this Agreement are satisfied. Fifty percent (50%) of the Owner Security shall be provided to Distribution Company within three (3) Business Days following the Execution Date; and the remaining fifty percent (50%) shall be provided to Distribution Company within fifteen (15) Business Days after receipt of the Regulatory Approval. (b) If at any time during the Term of this Agreement, the amount of Credit Support is reduced as a result of Distribution Company’s draw upon such Credit Support, Owner shall replenish such Credit Support to the total amount required under this Section 16.1 within five (5) Business Days of that draw, provided that any replenishment obligation shall be subject to the limitations on total liability set forth in Section 14.7. (c) Any Cash provided by Owner as Credit Support under this Agreement shall be held in an account selected by Distribution Company in its reasonable discretion. Interest shall accrue on that Cash deposit at the daily Federal Funds Rate and shall be remitted to Owner upon written request to Distribution Company, with such request not more often than on a quarterly basis, and Distribution Company shall remit such accrued interest to the Owner within a reasonable time following receipt of such request. Owner agrees to comply with the commercially reasonable requirements of Distribution Company in connection with the receipt and retention of any Cash provided as Credit Support under this Agreement. (d) Any unused Credit Support provided under this Agreement shall be returned to Owner only after any such Credit Support has been used to satisfy any outstanding obligations of Owner in existence at the time of the expiration or termination of this Agreement. Provided such obligations have been satisfied, such Credit Support shall be returned to Owner within thirty (30) days after the expiration or earlier termination of this Agreement.
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Owner Security. Owner Building Security requires sign-in/sign-out at the front desk, as a procedure, and is not intended to provide security for the conferencing center.
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Owner Security. (a) In order to secure Owner’s obligations under this Agreement in the period beginning on the Effective Date and continuing through and including the date that all of Owner’s obligations under this Agreement are satisfied, Owner shall be required to post Credit Support (i) prior to the Commercial Operation Date, prior to the Assignment Effective Date in the amount of $4,983,480 and on and after the Assignment Effective Date in the amount of $9,555,480 and (ii) on and after the Commercial Operation Date, in the amount of $4,983,480 (“Owner Security”). $2,491,740 of the Owner Security shall be provided to Distribution Company within three (3) Business Days following the Execution Date; $2,491,740 of the Owner Security shall be provided to Distribution Company within fifteen
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Owner Security. The Owner shall establish for the benefit of the Program Manager, a letter of credit or equivalent escrow account (the "Owner Security") on terms and with a bank reasonably acceptable to the Program Manager as security for payment of the Reimbursable Costs. The Owner Security shall be issued and outstanding at all times during performance of the Services in an amount necessary to meet the monthly cash-flow requirements set forth in Exhibit M hereto. Prior to exercising any rights against the Owner Security, the Program Manager shall notify the Owner that the Owner has failed to pay, within the period specified for such payment, an amount due and payable to the Program Manager in respect of a Reimbursement Invoice duly submitted by the Program Manager in accordance with this Section 7. The Owner shall, to the extent that no Event of Default nor other event entitling the Owner to withhold payments to the Program Manager has occurred and is continuing, reimburse the requested amount to the Program Manager by the close of business on the [REDACTED] next succeeding the Program Manager's notice, whereupon the Owner's failure to do so, shall entitle the Program Manager to draw upon the Owner Security in the amount of such outstanding payment.
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Owner Security. The Owner shall establish for the benefit of the Program Manager, a letter of credit or equivalent escrow account (the "Owner Security") on terms and with a bank reasonably acceptable to the Program Manager as security for payment of the Reimbursable Costs. The Owner Security shall be issued and outstanding at all times during performance of the Services in an amount necessary to meet the monthly cash-flow requirements set forth in Exhibit M hereto. Prior to exercising any rights against the Owner Security, the Program Manager shall notify the Owner that the Owner has failed to pay, within the period specified for such payment, an amount due and payable to the Program Manager in respect of a Reimbursement Invoice duly submitted by the Program Manager in accordance with this Section 7. The Owner shall, to the extent that no Event of Default nor other event entitling the Owner to withhold payments to the Program Manager has occurred and is continuing, reimburse the requested amount to the Program Manager by the close of business on the [REDACTED] next succeeding the Program Manager's notice, whereupon the Owner's failure to do so, shall entitle the Program Manager to draw upon the Owner Security in the amount of such outstanding payment.
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Related to Owner Security

  • 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.

  • 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.) « »

  • 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.

  • 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.