Security Funds. The Development Period Security and Operating Period Security, including L/C Proceeds therefrom (collectively referred to as the "Security Funds") established, funded, and maintained by Seller pursuant to the provisions of this Article 14 (Credit Assurance and Security) shall provide security for the performance of Seller's obligations under this Agreement and shall be available to be drawn on by Company as provided in Section 14.7 (Company's Right to Draw from Security Funds). Seller shall maintain the Security Funds at the contractually-required level throughout the Term of this Agreement. Seller shall replenish the Security Funds to such required level within fifteen (15) Business Days after any draw on the Security Funds by Company or any reduction in the value of Security Funds below the required level for any other reason. Notwithstanding the foregoing, Seller's obligation to replenish the Development Period Security shall not exceed in total three (3) times the original amount of the Development Period Security required under Section 14.2 (Development Period Security) of this Agreement.
Security Funds. The Development Period Security and Operating Period Security (collectively referred to as the "Security Funds") established, funded, and maintained by Seller pursuant to the provisions of this Article 14 (Credit Assurance and Security) shall provide security for the performance of Seller's obligations under this Agreement and shall be available to be drawn on by Company as provided in Section 14.7 (Company's Right to Draw from Security Funds). Seller shall maintain the Security Funds at the contractually-required level throughout the Term of this Agreement. Seller shall replenish the Security Funds to such required level within fifteen (15) Business Days after any draw on the Security Funds by Company or any reduction in the value of Security Funds below the required level for any other reason.
Security Funds. Section 23.01.
Security Funds. You acknowledge and agree that:
Security Funds. You may be asked to provide us with Security Funds before or after the Account is opened. By providing us with the required Security Funds and accepting the terms and conditions of this Agreement, you agree that if you breach any term or condition of this Agreement, you authorize us to set off (and effect compensation if you are resident in Quebec) and apply those Security Funds against any amounts you owe to us under this Agreement. We can do all of this without notifying you or sending you a demand for payment. You also agree that:
Security Funds. The Security Funds established, funded, and maintained by Seller pursuant to the provisions of this Section 7.1 (Security Fund) shall provide security for the performance of Seller’s obligations under this Agreement and shall be available to be drawn on by Company as provided in Section 7.1(G) (Company's Right to Draw from Security Funds). Seller shall maintain the Security Funds at the contractually-required level throughout the Term of this Agreement, and Seller shall replenish the Security Funds to such required level within fifteen (15) Business Days after any draw on the Security Funds by Company or any reduction in the value of Security Funds below the required level for any other reason.
Security Funds. Section 6.01.
Security Funds. Any amounts otherwise payable to Lessee -------------- under this Lease or any other Operative Document but which shall be paid to or retained by Lessor pursuant to the terms hereof as a result of any Lease Default or Lease Event of Default shall be held by the Lessor, as security for the obligations of Lessee under this Lease and the other Operative Documents and, at such time as there shall not be continuing any such Lease Default or Lease Event of Default, such amounts, net of any amounts theretofore applied to Lessee's obligations hereunder or under any other Operative Document, shall be paid to Lessee. Any such amounts which are held by the Lessor pending payment to Lessee shall, until paid to Lessee as provided herein or until applied against Lessee's obligations hereunder, under any other Operative Document in connection with any exercise of remedies hereunder, be invested in Permitted Investments by the Lessor as directed from time to time by Lessor for the benefit and at the risk and expense of the Lessee.
Security Funds. 48 Section 23.10 Discharge of Lessee's Obligations by its Affiliates ........................... 48 Section 23.11
Security Funds. In some cases, you may be asked to provide us with security funds, which we hold as collateral for payment of amounts you owe to us under this agreement. By providing us with security funds and accepting the terms of this agreement, you agree that if you’re in default under this agreement, you authorize Plastk to set off (and effect compensation, if you’re a resident of the province of Québec) and apply those funds against your obligations under this agreement (whether or not then immediately due and payable). We can do all of this without notifying you or sending you a demand for payment. You also agree to the following: • The security funds do not constitute a deposit with Plastk, and will be held in an account at a depository institution we select; • You will have no right to access or withdraw the security funds, except as described below; • Any interest earned on the security funds will become our sole property; and • Security funds may be used to offset purchases or cash advances. You represent that there are no lawsuits or bankruptcy proceedings that might affect our ability to withdraw and apply the security funds you provide, and you agree that you haven’t and won’t transfer or offer any interest in the funds to anybody other than Plastk. We will return any remaining funds to you at your last known address in our records within 60 days of the closing of your account, and the payment in full of your obligations under this agreement, whichever comes last.
