Common use of Replacement Security Clause in Contracts

Replacement Security. Any performance security furnished by Metro West Ambulance in fulfillment of the requirements of this Agreement for performance security that includes an agreement with a person or entity other than the County or Metro West Ambulance shall provide that the third party shall not cancel the agreement for any reason except upon 30-days advance written notice to County of the intention to cancel said agreement. Not later than 20 days following the commencement of the 30-day notice period, Metro West Ambulance shall provide to the County a replacement agreement acceptable to the County.

Appears in 2 contracts

Sources: Franchise Agreement, Franchise Agreement