Request for Security Sample Clauses
A Request for Security clause allows one party to require the other party to provide financial assurance, such as a bond, guarantee, or deposit, to secure the performance of contractual obligations. Typically, this clause is invoked if there are concerns about a party’s ability to fulfill its commitments, for example, if there are signs of financial instability or default. Its core practical function is to mitigate the risk of non-performance by ensuring that funds or guarantees are available to cover potential losses, thereby protecting the requesting party’s interests.
Request for Security. SunWater may request the provision of security if:
(a) the Customer commits a breach nominated in either of clause 12.2(a), (b), (c) or
Request for Security. ROL Holder may request the provision of security if:
(a) the Customer commits a breach nominated in either of clause 14.2(a)(i), 14.2(a)(ii), 14.2(a)(iii) and 14.2(a)(v) of this Agreement, whether ROL Holder has given a direction or not; or
(b) ROL Holder is not reasonably satisfied as to the financial capacity of the Customer to comply with its obligations under this Agreement.
Request for Security. (a) The Scheme Owner may request the provision of Security if:
(i) (breach): the Customer commits a breach nominated in any of clause 13.2(a)(i), 13.2(a)(ii), 13.2(a)(iii) or 13.2(a)(v), whether the Scheme Owner has given a direction or not; or
(ii) (financial capacity): the Scheme Owner is not reasonably satisfied as to the financial capacity of the Customer to comply with its obligations under this Agreement; or
(iii) (initial customers on the LMA Start Date): this Agreement arose pursuant to section 738I(5) of the Water Act and as at immediately before the LMA Start Date, the Customer:
(A) is the holder of a water allocation to whom water was supplied under the Resource Operations Licence immediately before the LMA Start Date; and
(B) provided security in connection with a Customer’s Bulk Water Contract (including a contract for bundled bulk and distribution services between the Customer and the holder of a Resource Operations Licence which is in place as at immediately before the LMA Start Date) (Pre-LMA Start Date Contract Security), subject, in the case of a request under this clause 26.1(a)(iii), to the restrictions in clause 26.1(b);
(iv) (new water allocation after the LMA Start Date): this Agreement arose pursuant to section 738I(7) of the Water Act and the Scheme Owner is not reasonably satisfied as to the financial capacity of the Customer to comply with its obligations under this Agreement; or
(v) (lease or transfer of water allocation): this Agreement arose pursuant to section 738I(9) of the Water Act and the Scheme Owner is not reasonably satisfied as to the financial capacity of the Customer to comply with its obligations under this Agreement.
(b) The Scheme Owner may not request the provision of Security under clause 26.1(a)(iii) unless:
(i) the type of Security requested under clause 26.1(a)(iii) is the same as the type of the Pre-LMA Start Date Contract Security (or the Customer and the Scheme Owner agree that a different type of security may be requested);
Request for Security. In accordance with s.149 of the Water Act, Seqwater may require the Customer to provide reasonable security for supplying and storing the Customer's Allocation. Without limiting its rights under s.149 of the Water Act, Seqwater may request security from the Customer, in the following circumstances:
(a) if the Customer commits a material breach of this Agreement; or
(b) Seqwater is not satisfied as to the financial capacity of the Customer to comply with its obligations under this Agreement.
Request for Security. Fitzroy River Water may request the provision of security if:
(a) the Customer commits a breach nominated in either of clause 12.2(a)(i), (ii), (iii) or (v) of this Agreement, whether Fitzroy River Water has given a direction or not; or
(b) Fitzroy River Water is not reasonably satisfied as to the financial capacity of the Customer to comply with its obligations under this Agreement.
Request for Security. (a) Alinta Energy may by notice in writing request the Customer to provide Alinta Energy with an unconditional bank guarantee or other form of security to secure the due and punctual performance of the Customer’s obligations under this Agreement
(i) at any time prior to the commencement of the Term; and
(ii) at any time on or after the commencement of the Term but only if:
(A) Alinta Energy considers, acting reasonably, that there has been a material change in the Customer ’s creditworthiness since the date of this Agreement; or
(B) the Customer fails to pay in full (or any lesser amount permitted by clause 10.4(a)) any two invoices by the due date for payment within any 12 month period.
Request for Security. (a) The Scheme Owner may request the provision of Security if:
(i) (breach): the Customer commits a breach nominated in any of clause 13.2(a)(i), 13.2(a)(ii), 13.2(a)(iii) or 13.2(a)(v), whether the Scheme Owner has given a direction or not; or
(ii) (financial capacity): the Scheme Owner is not reasonably satisfied as to the financial capacity of the Customer to comply with its obligations under this Agreement; or
(iii) (initial customers on the LMA Start Date): this Agreement arose pursuant to section 738I(5) of the Water Act and as at immediately before the LMA Start Date, the Customer:
Request for Security. The Scheme Owner may request the provision of Security if:
Request for Security. (a) Stanwell may by notice request the Customer to provide Stanwell with an unconditional bank guarantee or other form of security acceptable to Stanwell, for an amount not exceeding the total of Stanwell's reasonable estimate for the next three invoices to be issued under this contract.
(b) Unless otherwise specified by Stanwell, the security must be in a form and on terms and conditions acceptable to Stanwell.