Request for Financial Security Clause Samples

Request for Financial Security. (a) The Financial Security may only be requested under clause 3.3 when it is reasonably necessary to protect the legitimate business interests of the Multiplex Licensee and shall be of an amount and in a form which is reasonable in all the circumstances. (b) As a statement of general principle the amount of any Financial Security shall be calculated by reference to the aggregate value of all services likely to be provided to the Access Seeker under this Agreement over a reasonable period or the value of amounts invoiced under this Agreement but unpaid (excluding any amounts in respect of which there is a current Billing Dispute).