Common use of Third Party Security Clause in Contracts

Third Party Security. arrange for a third party to provide one or a combination of the following securities, in a form acceptable to the Distributor, for the amount required by the Distributor in accordance with this clause 12, provided the party providing the security maintains an acceptable credit rating in accordance with clause (f); (i) Guarantee or letter of credit: an unconditional guarantee or letter of credit in favour of the Distributor; or (ii) Third party guarantee: an unconditional third party guarantee in favour of the Distributor; or (iii) ▇▇▇▇: a security bond in favour of the Distributor; or

Third Party Security. arrange for a third party to provide one or a combination of the following securities, in a form acceptable to the Distributor, for the amount required by the Distributor in accordance with this clause 12, provided the party providing the security maintains an acceptable credit rating in accordance with clause (f)12.3; (i) Guarantee or letter of credit: an unconditional guarantee or letter of credit in favour of the Distributor; or (ii) Third party guarantee: an unconditional third party guarantee in favour of the Distributor; or (iii) ▇▇▇▇Bond: a security bond in favour of the Distributor; or;