Termination Security definition

Termination Security at any time, means the aggregate of:
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Termination Security has the meaning assigned to it in Section 12.
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Termination Security at any time, means the aggregate of the security constituted by the potential obligations of the Payment Banks under Clause 5.7 of each Payment Agreement;
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Examples of Termination Security in a sentence

  • The Referee shall deliver to Executive and the Board as promptly as practicable (but no later than 30 days from the date of engagement of the Referee) a report setting forth its reasoned written determination as to the fair market value of the Termination Security (the “Referee Determination”).

  • Within twenty (20) Days after Buyer has provided notice of termination to Seller pursuant to this Section 10, Buyer shall draw upon the Letter of Credit or Surety Bond or withdraw the funds in the Escrow Account and apply such funds toward the satisfaction of Seller’s obligation to pay the Early Termination Security Amount.

  • The Early Termination Security Amount is intended to safeguard Buyer against undue financial risk associated with loss of Seller-provided capacity during the Contract Term of the Agreement as indicated in Part 1.

  • Upon termination by Buyer pursuant to Subsection 2.3 or this Section 10, Seller shall owe Buyer the Early Termination Security Amount.

  • Seller shall provide and maintain, as described herein, the Early Termination Security Amount specified in Part I for compliance with its payment obligations, for the term of the Agreement.

  • If Seller selects the Letter of Credit form of payment security as identified in Part I, Seller shall provide a Letter of Credit to Buyer in the amount of the Early Termination Security Amount by the date that is thirty (30) Days after the Start Date.

  • The amount retained each month shall be determined in accordance with the following formula: Monthly Escrow Payment ($) = $1,200 x ZRC-month All Monthly Escrow Payments and accumulated interest shall be retained in the Escrow Account until the Early Termination Security Amount is reached (the "Full Funding").

  • If Seller selects the One-Time Escrow Payment form of payment security as identified in Part I, Seller shall provide a cash payment to Buyer in the amount of the Early Termination Security Amount within thirty (30) days of Start Date.

  • The Early Termination Security Amount is intended to safeguard Buyer against undue financial risk associated with loss of Seller provided Product during the term of this Agreement.

  • Seller shall provide and maintain, as described herein, the Early Termination Security Amount specified in Exhibit A, Early Termination Security Amount Schedule for compliance with its payment obligations, for the term of the Agreement.