Common use of SECURE PERFORMANCE Clause in Contracts

SECURE PERFORMANCE. The Fund so established shall be used solely to pay EGLE for monitoring, operation, and maintenance necessary to assure the effectiveness and integrity of the corrective action documented in the Corrective Action Plan and to meet [SUBMITTER’S] financial assurance obligations as set forth in the Corrective Action Plan. Upon receipt of a notice of request for reimbursement from the Beneficiary, the Escrow Agent shall reimburse EGLE. All notices of request for disbursement, except for the Escrow Agent’s fee which is to be paid to the Escrow Agent directly by the Grantor, are to be made by the Beneficiary to the Escrow Agent with a copy sent to the Grantor. The Escrow Agent shall remit payment to EGLE within thirty (30) days of receipt of the notice. Funds disbursed to EGLE under this Paragraph shall be delivered to the address indicated in Subsection (B) (2) of Section III (Notices).

SECURE PERFORMANCE. The Fund so established shall be used solely to pay EGLE the MDEQ for monitoring, operation, and maintenance necessary to assure the effectiveness and integrity of the corrective action documented in the Corrective Action Plan and to meet [SUBMITTER’S] financial assurance obligations as set forth in the Corrective Action Plan. Upon receipt of a notice of request for reimbursement from the Beneficiary, the Escrow Agent shall reimburse EGLEthe MDEQ. All notices of request for disbursement, except for the Escrow Agent’s fee which is to be paid to the Escrow Agent directly by the Grantor, are to be made by the Beneficiary to the Escrow Agent with a copy sent to the Grantor. The Escrow Agent shall remit payment to EGLE the MDEQ within thirty (30) days of receipt of the notice. Funds disbursed to EGLE the MDEQ under this Paragraph shall be delivered to the address indicated in Subsection (B) (2) of Section III (Notices).