Substituted Security Sample Clauses
The Substituted Security clause allows a party to replace an existing form of security or collateral with another, subject to the agreement of the other party. In practice, this might involve substituting a letter of credit for a cash deposit or replacing one guarantor with another, provided the new security is of equal or greater value and meets the contractual requirements. This clause provides flexibility for parties to manage their assets or obligations more efficiently while ensuring that the secured party's interests remain protected.
Substituted Security. In accordance with Section 22300 of the Public Contract Code, the County will, at the request and expense of the Contractor, accept securities equivalent to any amount withheld by the County to ensure performance under this Contract, including, but not limited to, the amount withheld under Attachment B, Paragraph IV of the Contract. Such substituted security must meet the requirements of said Section 22300, and shall be deposited with a California or federally chartered bank as escrow agent. The security shall be held by the escrow agent subject to a written escrow agreement between County, Contractor, and escrow agent, which Contract shall be in a for substantially similar to that contained in Public Contract Code, Section 22300.
Substituted Security. In accordance with Public Contract Code Section 22300 and at the request and expense of D-BE, County will accept securities equivalent to any amount withheld by County to ensure complete and proper performance under the Contract Documents, including the amount withheld as Retention under the “Payments” Section of the General Conditions. Substituted securities must meet the requirements of Public Contract Code Section 22300 and shall be deposited with County or with a California or federally chartered bank in California as escrow agent. The securities shall be held by the escrow agent subject to a written escrow agreement between County, D-BE, and escrow agent, which agreement shall be in a form substantially similar to that contained in Public Contract Code Section 22300.
Substituted Security. In accordance with Section 22300 of the Public Contract Code, the Director will, at the request and expenseof the Contractor, accept securities equivalent to any amount withheld by the County to ensure performance under this Contract, including, but not limited to, the amount withheld under Articles 5 and 8 of the Contract. Such substituted security must meet the requirements of said Section 22300 and shall be deposited with a California or federally chartered bank as escrow agent. The security shall be held by the escrow agent subject to a written escrow agreement between County, Contractor, and escrow agent, which agreement shall be in a form substantially similar to that contained in Public Contract Code, Section 22300.
Substituted Security. In accordance with Public Contract Code Section 22300 and at the request and expense of ▇▇▇▇, Owner will accept securities equivalent to any amount withheld by Owner to ensure complete and proper performance under the Contract Documents, including the amount withheld as Retention under the “Payments” Section of the General Conditions. Substituted securities must meet the requirements of Public Contract Code Section 22300 and shall be deposited with Owner or with a California or federally chartered bank in California as escrow agent. The securities shall be held by the escrow agent subject to a written escrow agreement between Owner, ▇▇▇▇, and escrow agent, which agreement shall be in a form substantially similar to that contained in Public Contract Code Section 22300.
Substituted Security. CUSO fails to provide any additional or substituted security requested by Members United.
Substituted Security. Member fails to provide any additional or substituted security reasonably requested by ▇▇▇▇▇▇.
Substituted Security. In accordance with Section 22300 of the Public Contract Code, the County will, at the request and expense of the Contractor, accept securities equivalent to any amount withheld by the County to ensure performance under this Contract, including, but not limited to, the amount withheld under Attachment B, Paragraph IV of the Contract. Such substituted security must meet the requirements of said Section 22300, and shall be deposited with a California or federally chartered bank as escrow agent. The security shall be held by the escrow agent subject to a written escrow agreement between County, Contractor, and escrow agent, which Contract shall be in a for substantially similar to that contained in Public Contract Code, Section 22300. DocuSign Envelope ID: FB9826DF-4A2F-4ED2-8519-0D4D85A2DE80
Substituted Security. In accordance with Public Contract Code Section 22300 and at the request and expense of D-BE, prior to the award of the contract, OWNER will accept securities equivalent to any amount withheld by OWNER to ensure complete and proper performance under the Contract Documents, including the amount withheld as Retention under the “PAYMENTS” Section of the General Conditions. Substituted securities must meet the requirements of Public Contract Code Section 22300 and shall be deposited with OWNER or with a California or federally chartered bank in California as escrow agent. The securities shall be held by the escrow agent subject to a written escrow agreement between OWNER, D-BE, and escrow agent, which agreement shall be in a form substantially similar to that contained in Public Contract Code Section 22300.
Substituted Security. In accordance with Public Contract Code Section 22300 and at the request and expense of CMARE, County will accept securities equivalent to any amount withheld by County to ensure complete and proper performance under the Contract Documents, including the amount withheld as Retention requirements of Public Contract Code Section 22300 and shall be deposited with County or with a California or federally chartered bank in California as escrow agent. The securities shall be held by the escrow agent subject to a written escrow agreement between County, CMARE, and escrow agent, which agreement shall be in a form substantially similar to that contained in Public Contract Code Section 22300.
Substituted Security. Member fails to provide any additional or substituted security reasonably requested by Alloya.