SECURITY DEPOSIT (PERFORMANCE BOND Sample Clauses

SECURITY DEPOSIT (PERFORMANCE BOND. 6.1 In the event the Order issued by the Buyer stipulates that the Seller is required to lodge with the Buyer a security deposit for the due and faithful performance of the Seller’s obligations pursuant to the Order and these conditions, the Seller shall deposit with the Buyer a Bank Draft or issue a Banker’s Guarantee (“Security Deposit”) acceptable to the Buyer within two weeks from the date of acceptance of the Order or as per supply agreement. The Buyer shall thereafter be entitled to utilize and make payments out of or deductions from the said Security Deposit in the event the Seller fails to meet its obligation relating to the Purchase Order for whatever reason and whether in whole or in part.
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SECURITY DEPOSIT (PERFORMANCE BOND. 17.1 Lessor shall maintain with Lessee the sum of fifteen thousand dollars ($15,000), on file with the Treasurer of Sacramento County, as a security deposit/performance bond (deposit) for the faithful performance by Xxxxxx of the provisions of this Agreement. Lessor is authorized to use the deposit, or any portion of it, to cure any default of Lessee or to compensate Lessor for any damage sustained by Lessor resulting from Xxxxxx’s default.
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SECURITY DEPOSIT (PERFORMANCE BOND. 3.13.1 Lessee shall provide a security deposit of Ten Thousand Dollars ($10,000) to the City, or at Lessee's option, Lessee shall provide a performance bond of Thirty Thousand Dollars ($30,000.00) to the City. This deposit and/or bond shall be used by the City, at the option and in the sole discretion of the City, to reimburse the City for any default by the Lessee, as defaults are defined in Paragraph 4 herein) of any provision of this Agreement, including, but not limited to, failure to pay rent, failure to maintain or restore premises, failure to provide adequate insurance coverage, failure to pay for utilities, or any other violation of any term of this lease. This amount is not intended by either party to cover all damages resulting from Lessee's breach of this Agreement.
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SECURITY DEPOSIT (PERFORMANCE BOND a. Security deposit shall be as per GCC volume-I
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SECURITY DEPOSIT (PERFORMANCE BOND. To ensure the faithful performance of the Agreement between the Concessionaire and the Town, Concessionaire shall post a security deposit with the Town. Said Security Deposit shall be in one (1) (or a combination) of the following surety arrangements each year, which shall in total equal twenty-five percent of the annual rental fee for that year; (1) an irrevocable bank letter of credit; or (2) cash which shall be held by the Town in a non-interest bearing Reserve Account (and which may be co-mingled with other funds of the Town; or (3) other acceptable surety arrangements agreed upon between the Town and Concessionaire. The security deposit agreed upon by the parties must be approved and posted prior to Concessionaire taking possession of the premises, and the actual surety documents shall be available upon execution of this Agreement. Said security deposit may be used by the Town, in its sole discretion, to cover: shortfalls in payments to the Town by Concessionaire, unpaid obligations to third-parties incurred by Concessionaire, cost of obtaining substitute performance of any of the obligations of Concessionaire, and/or damage to equipment owned by the town caused by Concessionaire, and its agents or employees, whether or not said equipment is used by Concessionaire in its business.
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Related to SECURITY DEPOSIT (PERFORMANCE BOND

  • SECURITY DEPOSIT Upon execution of this Lease, Tenant shall deposit with Landlord the amount of the Security Deposit specified on [Page One], of this Lease. The Security Deposit will be returned to Tenant without interest upon the expiration of the Term of the Lease, provided that Xxxxxx has paid all amounts due under this Lease and has otherwise performed all obligations hereunder. In the event that Tenant defaults under any provision of this Lease, and after the expiration of any applicable cure period, Landlord may apply all, or any part of the Security Deposit to amounts owed by Tenant. In the event Landlord elects to apply the Security Deposit as provided for above, Tenant shall promptly restore such Security Deposit to the original amount. Landlord may, at its discretion, commingle such funds with its other funds, Upon any sale or other conveyance of the Building, Landlord may transfer the Security Deposit (or any amount of the Security Deposit remaining) to a successor/owner, and Xxxxxx agrees to look solely at the successor/owner for repayment of the same. Notwithstanding anything to the contrary in the paragraph above, in lieu of a cash Security Deposit, Tenant may deliver the Security Deposit in the form of an unconditional, clean, irrevocable standby letter of credit, in a form acceptable to Landlord, and issued by a bank reasonably acceptable to Landlord (the “Letter of Credit”) as security, provided the Letter of Credit shall be delivered to Landlord with executed copies of this Lease. The Letter of Credit shall (i) be unconditional, irrevocable, transferable, payable to Tenant upon presentment of original to the issuer in person or by courier, in partial or full draws, and (ii) contain an “evergreen” provision which provides that it is automatically renewed on an annual basis (subject to the permitted date of termination set forth below) unless the issuer delivers thirty (30) days’ prior written notice of cancellation to Landlord and Tenant. Without limiting any of Landlord’s rights or remedies hereunder, if the bank issuing the Letter of Credit provides Landlord with a cancellation notice, Landlord may immediately draw upon all or any part of the Letter of Credit and Tenant shall provide Landlord with an additional irrevocable stand-by letter of credit as provided below. Any and all fees or costs charged by the issuer in connection with the Letter of Credit shall be paid by Xxxxxx. The irrevocable stand-by Letter of Credit shall remain effective through the date that is sixty (60) days following the expiration date this Lease. If Tenant defaults with respect to any provision of this Lease beyond applicable notice and cure periods, including but not limited to the provisions relating to the payment of Rent, Landlord may draw upon all or any part of Tenant’s Letter of Credit. If any portion of the Security Deposit is so used, applied, or retained, Tenant will within ten (10) days after written demand from Landlord, provide to Landlord an additional irrevocable, stand-by letter of credit, which shall be in form and substance satisfactory to Landlord, issued by a bank reasonably acceptable to Landlord, in an amount sufficient to restore the Security Deposit to its required amount pursuant to this Section 8. Tenant’s failure to replenish the Security Deposit shall constitute a failure to pay Additional Rent and Tenant shall have ten (10) days from the date of notice to cure such default.

  • Security Deposits The Owner hereby grants the Agent power to collect security deposits from the tenants on the Property. Returning said security deposit shall be the responsibility of the: (check one) ☐ - Agent for returning to vacating tenants. ☐ - Owner for returning to vacating tenants.

  • Performance Bond Unless otherwise prohibited by law, the Department may require the Contractor to furnish, without additional cost to the Department, a performance bond or irrevocable letter of credit or other form of security for the satisfactory performance of work hereunder. The Department shall determine the type and amount of security.

  • Xxxxxxx Money (Security Deposit) 5.1 While submitting commercial bid, the BIDDER shall deposit an amount………. (to be specified in RFP) as Xxxxxxx Money/Security Deposit, with the BUYER through any of the following instruments:

  • Use of a security deposit (a) We may use your security deposit, and any interest earned on the security deposit, to offset any amount you owe under this contract:

  • Payment and Performance Bond Prior to the execution of this Contract, City may require Contractor to post a payment and performance bond (Bond). The Bond shall guarantee Contractor’s faithful performance of this Contract and assure payment to contractors, subcontractors, and to persons furnishing goods and/or services under this Contract.

  • Interest on security deposits Where you have paid a security deposit, we must pay you interest on the security deposit at a rate and on terms required by the Rules.

  • REFUND OF SECURITY DEPOSIT MANAGEMENT agrees to refund the security deposit to RESIDENT upon satisfaction of all lease provisions, and all of the following conditions, or as otherwise required by applicable Virginia Law.

  • Payment and Performance Bonds The Contractor shall comply with the following minimum bonding requirements:

  • Xxxxxxx Money Deposit (a) Within three (3) Business Days after the full execution and delivery of this Contract, Buyer shall deposit the sum of Three Hundred Thousand and No/100 Dollars ($300,000.00) in cash, certified bank check or by wire transfer of immediately available funds (the “Initial Deposit”) with the Title Company, as escrow agent (“Escrow Agent”), which sum shall be held by Escrow Agent as xxxxxxx money. If, pursuant to the provisions of Section 3.1 of this Contract, Buyer elects to terminate this Contract at any time prior to the expiration of the Review Period, then the Escrow Agent shall return the Xxxxxxx Money Deposit to Buyer promptly upon written notice to that effect from Buyer. If Buyer does not elect to terminate this Contract on or before the expiration of the Review Period, Buyer shall, prior to the expiration of the Review Period, deposit the Additional Deposit with the Escrow Agent. The Initial Deposit and the Additional Deposit, and all interest accrued thereon, shall hereinafter be referred to as the “Xxxxxxx Money Deposit.”

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