Security Clause Samples

A Security clause establishes the rights and obligations related to collateral or guarantees provided to secure the performance of contractual obligations. Typically, this clause outlines what assets or interests are being pledged, the conditions under which the security can be enforced, and the procedures for releasing the security once obligations are fulfilled. For example, it may specify that a borrower must provide a lien over certain property or that a guarantor is required for a loan. The core practical function of a Security clause is to protect the interests of the party receiving the security by reducing the risk of non-performance or default.
POPULAR SAMPLE Copied 90 times
Security. Notwithstanding anything herein to the contrary, except for Section 27, to the extent requested by Indemnitee and approved by the Board, the Company may at any time and from time to time provide security to Indemnitee for the Company’s obligations hereunder through an irrevocable bank line of credit, funded trust or other collateral. Any such security, once provided to Indemnitee, may not be revoked or released without the prior written consent of Indemnitee.
Security. Any disclosure or removal of any District matter or property by Contractor shall be cause for immediate termination of this Contract. Contractor shall bear sole responsibility for any liability including, but not limited to attorney fees, resulting from any action or suit brought against District because of Contractor’s willful or negligent release of information, documents, or property contained in or on District property. District hereby deems all information, documents, and property contained in or on District property privileged and confidential.
Security. Each party shall take reasonable security precautions, at least as great as the precautions it takes to protect its own confidential information, to keep confidential the Confidential Information.
Security. 16.1 If requested to do so by the Buyer, before entering into this Call-Off Contract the Supplier will, within 15 Working Days of the date of this Call-Off Contract, develop (and obtain the Buyer’s written approval of) a Security Management Plan and an Information Security Management System. After Buyer approval the Security Management Plan and Information Security Management System will apply during the Term of this Call-Off Contract. Both plans will comply with the Buyer’s security policy and protect all aspects and processes associated with the delivery of the Services. 16.2 The Supplier will use all reasonable endeavours, software and the most up-to-date antivirus definitions available from an industry-accepted antivirus software seller to minimise the impact of Malicious Software. 16.3 If Malicious Software causes loss of operational efficiency or loss or corruption of Service Data, the Supplier will help the Buyer to mitigate any losses and restore the Services to operating efficiency as soon as possible. 16.4 Responsibility for costs will be at the: 16.4.1 Supplier’s expense if the Malicious Software originates from the Supplier software or the Service Data while the Service Data was under the control of the Supplier, unless the Supplier can demonstrate that it was already present, not quarantined or identified by the Buyer when provided 16.4.2 Buyer’s expense if the Malicious Software originates from the Buyer software or the Service Data, while the Service Data was under the Buyer’s control 16.5 The Supplier will immediately notify the Buyer of any breach of security of ▇▇▇▇▇’s Confidential Information (and the Buyer of any Buyer Confidential Information breach). Where the breach occurred because of a Supplier Default, the Supplier will recover the Buyer’s Confidential Information however it may be recorded. 16.6 Any system development by the Supplier should also comply with the government’s ‘10 Steps to Cyber Security’ guidance: 16.7 If a Buyer has requested in the Order Form that the Supplier has a Cyber Essentials certificate, the Supplier must provide the Buyer with a valid Cyber Essentials certificate (or equivalent) required for the Services before the Start date.
Security. The Borrower’s obligation to pay the principal of and interest on the Note and any other amounts payable by the Borrower hereunder (the “Loan Obligations”) are special, limited obligations of the Borrower payable solely from the Net Revenues, the I-70 MEXL Revenue Account and the I-70 MEXL Operating Account, and shall constitute “bond obligations” within the meaning of C.R.S. § 43-4-803(3). The Borrower hereby pledges, on a first lien basis, for the payment of the Loan Obligations: (a) the Net Revenues, (b) all Net Revenues (and the earnings thereon) on deposit in the I-70 MEXL Revenue Account; and (c) all amounts actually loaned by CDOT to the Borrower pursuant to the Intra-Agency Agreement, including all moneys on deposit in the I-70 MEXL Operating Account (collectively, the “Collateral”); provided that nothing herein shall be deemed to require CDOT to allocate funds to make any payment under the Intra-Agency Agreement. In accordance with C.R.S. § 43-4-807(1)(e), the Collateral shall immediately be subject to the lien of such pledge without any physical delivery or other act, and the lien of such pledge shall be valid and binding against all parties having claims of any kind in tort, contract or otherwise against the Borrower regardless of whether the claiming party has notice of such lien and even though it is not recorded or filed. The pledge of the Collateral pursuant to this Section does not limit the Borrower’s rights to withdraw money from the I-70 MEXL Revenue Account or the I-70 MEXL Operating Account pay for all lawful expenses and obligations of the Borrower related to the I-70 MEXL Project. Section ▇▇-▇▇-▇▇▇ of the Supplemental Public Securities Act provides that a public entity, including the Borrower, may elect in an act of issuance to apply all or any of the provisions of the Supplemental Public Securities Act. The Borrower hereby elects to apply all of the Supplemental Public Securities Act to this Agreement, the Loan and the Note.
Security. CONTRACTOR shall ensure the continuous security of all computerized data 26 systems containing DHCS PI and PII. CONTRACTOR shall protect paper documents containing ▇▇ ▇▇▇▇ ▇▇ and PII. These steps shall include, at a minimum: 28 1) Complying with all of the data system security precautions listed in Subparagraph
Security. If the Custodian advances cash or Securities to the Fund for any purpose, either at the Trust's request or as otherwise contemplated in this Agreement, or in the event that the Custodian or its nominee incurs, in connection with its performance under this Agreement, any claim, demand, loss, expense or liability (including reasonable attorneys' fees) (except such as may arise from its or its nominee's bad faith, negligence or willful misconduct), then, in any such event, any property at any time held for the account of the Fund shall be security therefor, and should the Fund fail promptly to repay or indemnify the Custodian, the Custodian shall be entitled to utilize available cash of such Fund and to dispose of other assets of such Fund to the extent necessary to obtain reimbursement or indemnification.
Security. Contractor warrants, covenants and represents that, in the performance of the Contract, Contractor, its agents, Subcontractors, officers, distributors, resellers and employees will comply fully with all security procedures of the Authorized User set forth in the Contract or Purchase Order or otherwise communicated in advance to the Contractor including but not limited to physical, facility, documentary and cyber security rules, procedures and protocols.
Security. Each of FIIOC and FSC represents and warrants that, to the best of its knowledge, the various procedures and systems which it has implemented with regard to the safeguarding from loss or damage attributable to fire, theft or any other cause (including provision for twenty–four hours a day restricted access) of the Trust's blank checks, certificates, records and other data and FIIOC’s and FSC's records, data, equipment, facilities and other property used in the performance of its obligations hereunder are adequate, and that it will make such changes therein from time to time as in its judgment are required for the secure performance of its obligations hereunder. FIIOC and FSC shall review such systems and procedures on a periodic basis and the Trust shall have access to review these systems and procedures.
Security. 16.1 If requested to do so by the Buyer, before entering into this Call-Off Contract the Supplier will, within 15 Working Days of the date of this Call-Off Contract, develop (and obtain the Buyer’s written approval of) a Security Management Plan and an Information Security