Financial Assurance Requirements Sample Clauses

Financial Assurance Requirements. Developer, prior to commencing construction of any phase, shall deposit with the Township or a financial institution acceptable to the Township, cash, certified check, or an automatically renewing irrevocable letter of credit, or such other assurance as may be required by the Township, whichever Developer elects, running to the Township, to provide financial assurance (the “Financial Assurance”) for the construction of the System, water and sewer, and roads (referred to as “Public Improvements”) in accordance with Township policy. The Financial Assurance required shall be in the amount of One Hundred Ten (110%) percent of the cost of construction of the Public Improvements, for the particular phase being developed as specified in a contract for construction, which estimate has been approved by the Township’s Engineer. The Financial Assurance shall secure the completion of the Public Improvements. If and to the extent the another governmental entity having jurisdiction requires a bond or other security to secure the completion of any of the Public Improvements, and to avoid imposing on Developer the obligation of bonding twice for the same Public Improvement, the amount of the Financial Assurance required by this Agreement shall be reduced by the amount of the financial assurance required by the other governmental entity. The Township will rebate to Developer as work progresses, and if approved by the Township, amounts of any cash deposits, or reduce the irrevocable letter of credit, as may be applicable, equal to the ratio of the work completed on the Public Improvements in each respective phase of the Project. However, at no time shall the amount retained for any incomplete work total less than 110% of the value of the remaining work, as determined by the Township’s Engineer. Concurrently with approval by the Township of any streets or other Public Improvements, a two (2) year maintenance bond or such other assurance reasonably acceptable to the Township, in the amount of 110% of the total cost of the road running from the date of final approval of the Public Improvements, as established by the Township, or other Financial Assurance, running to the Township equal to 25% of the construction costs for the Public Improvements shall be posted by Developer. Additionally, in accordance with the Township’s Engineering Design Standards, as-built plans certified by a licensed engineer, reviewed by the Township’s engineer, shall be submitted to the Township.
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Financial Assurance Requirements. ‌ NDOR, as the Agreement sponsor, will be responsible and will provide documentation that identifies the securing of adequate funding for operation and maintenance of the Agreement during its operational life as well as for the long-term management of the wetlands, streams, and/or other aquatic resources, as necessary. Should NDOR sell or transfer ownership of a Site, all site protection instruments associated with the Site would remain intact. NDOR is a governmental unit with the financial capability to implement mitigation banking. Thus, NDOR has access to the necessary financial resources to cover Agreement needs, including long-term management of Sites and unforeseen events as determined by the IRT. Written documentation (letter format) of NDOR’s financial resource commitments will be provided to USACE as part of a Site Development Plan. NDOR would provide the necessary financial commitment documentation to USACE for long-term management by a third party should responsibilities for management for a Site be transferred (as defined in the Site Development Plan or at a later date). Any transfer of responsibilities to a third party shall be approved by USACE prior to transfer.
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Financial Assurance Requirements. The Sponsor intends to satisfy its obligations 13 under this Instrument by obtaining sufficient funding to carry out all design, development, 14 monitoring, remediation and site management responsibilities. Financial Assurances are 15 provided for the work described in this Instrument. Funding for all responsibilities and 16 obligations arising under this Instrument has been included in the credit price estimation 17 calculations, and mitigation fees collected are based on full cost accounting (see Appendix F).
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Financial Assurance Requirements. The Sponsor intends to satisfy its obligations under this Instrument by obtaining sufficient funding to carry out all design, development, monitoring, remediation and site management responsibilities. The following Financial Assurances are provided for the work described in this Instrument. Funding for all responsibilities and obligations arising under this Instrument has been included in the ILF credit price estimation calculations, and mitigation fees collected are based on full cost accounting (see Appendix  , Program Account, Section  ). Project approval by the IRT, Ecology, and the Corps is contingent upon each project being fully funded at the time of its approval to cover the Sponsor’s obligations under this Instrument. If funds allocated to the Mitigation Program Account are insufficient to cover the costs associated with ILF Mitigation Projects, then funds may be directed per Article IV.E., Ability to Direct Funds, from the following accounts to cover the shortfall(s) in any Service Area: [if only one Service Area, revise text as necessary] Contingency Account, Long Term Management Account, and/or Land Fee Account. To the extent, if any, that these funds are insufficient to fully and timely fund the Sponsor’s obligations as delineated in this Instrument, the   [insert Sponsor, Program Administrator name, or entity responsible for making such request] shall include in its budget request appropriations sufficient to cover the balance of the Sponsor’s obligations under this Instrument, and will use all reasonable and lawful means to fulfill its obligations hereunder. In the event the   [insert county, Tribal council, or other legislative appropriation body] does not appropriate funds in sufficient amounts to discharge these obligations, the   [insert Sponsor, Program Administrator name] shall use its best efforts to procure funding in order to satisfy its obligations under this Instrument from any other source of funds legally available for this purpose. Nothing herein shall constitute, nor be deemed to constitute, an obligation of future appropriations by the   [insert name of Sponsor’s governing body]. [Revision of the paragraph immediately above will be necessary for ILF Programs with non-profit conservation or natural resource entities as Sponsors].
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Financial Assurance Requirements. Should any financial assurance requirements pursuant to Environmental Laws be imposed on Tenant’s use of, or activities at, the Premises by a governmental authority, Tenant promptly and timely shall comply with those requirements as they take effect.
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Financial Assurance Requirements. A. Town Code requires the subdivider to secure a Performance Bond, Escrow Account Agreement, or a Letter of Credit in the amount sufficient to secure to the Town the satisfactory construction, installation, completion and dedication of the required infrastructure improvements in one of the forms set forth in Exhibits No.’s 1, 2 & 3.
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Financial Assurance Requirements. Computation The warehouse operator agrees:
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Financial Assurance Requirements. The Sponsor agrees to provide the following financial assurances for the work described in this Banking Instrument. [Include information about the specific financial assurance (e.g., performance bond, letter of credit, escrow account) to be provided by the Sponsor. For example, “The Sponsor shall deposit in the following manner:
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Financial Assurance Requirements. The Sponsor agrees to provide a Financial Assurance document, payable to DSL for $70,000. The Financial Assurance may be released incrementally on the following schedule: For the initial release of credits (not to exceed 30% of the total number of credits that could be derived from this site) the Sponsor agrees to provide adequate financial assurances to ensure that wetland acreage would be restored on site in the event of a default (see also Part V, F). Release of funds from this financial assurance will be recommended by the MBRT incrementally on the following schedule if, and only if, all performance standards, as described in Section V. E. are being met: 30 percent – one year after the first credit release; 30 percent – two years after first credit release; 30 percent– five years after first credit is released; and 10% or the remainder upon submittal of the final monitoring report at bank closure, 5 years after the last credit sale.
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Related to Financial Assurance Requirements

  • Insurance Requirements Vendor agrees to maintain the following minimum insurance requirements for the duration of this Agreement. All policies held by Vendor to adhere to this term shall be written by a carrier with a financial size category of VII and at least a rating of “A‐” by A.M. Best Key Rating Guide. The coverages and limits are to be considered minimum requirements and in no way limit the liability of the Vendor(s). Any immunity available to TIPS or TIPS Members shall not be used as a defense by the contractor's insurance policy. Only deductibles applicable to property damage are acceptable, unless proof of retention funds to cover said deductibles is provided. "Claims made" policies will not be accepted. Vendor’s required minimum coverage shall not be suspended, voided, cancelled, non‐renewed or reduced in coverage or in limits unless replaced by a policy that provides the minimum required coverage except after thirty (30) days prior written notice by certified mail, return receipt requested has been given to TIPS or the TIPS Member if a project or pending delivery of an order is ongoing. Upon request, certified copies of all insurance policies shall be furnished to the TIPS or the TIPS Member. Vendor agrees that when Vendor or its subcontractors are liable for any damages or claims, Vendor’s policy, shall be primary over any other valid and collectible insurance carried by the Member or TIPS. General Liability: $1,000,000 each Occurrence/Aggregate Automobile Liability: $300,000 Includes owned, hired & non‐owned Workers' Compensation: Statutory limits for the jurisdiction in which the Vendor performs under this Agreement. If Vendor performs in multiple jurisdictions, Vendor shall maintain the statutory limits for the jurisdiction with the greatest dollar policy limit requirement. Umbrella Liability: $1,000,000 each Occurrence/Aggregate

  • Compliance with Legal/Insurance Requirements, Etc Subject to the provisions of Section 5.1.2(b) and Article 8, Tenant, at its sole expense, shall (a) comply with (or cause to be complied with) all material Legal Requirements and Insurance Requirements in respect of the use, operation, maintenance, repair, alteration and restoration of any Property and with the terms and conditions of any ground lease affecting any Property, (b) perform (or cause to be performed) in a timely fashion all of Landlord’s obligations under any ground lease affecting any Property and (c) procure, maintain and comply with (or cause to be procured, maintained and complied with) all material licenses, certificates of need, permits, provider agreements and other authorizations and agreements required for any use of any Property and Tenant’s Personal Property, if any, then being made, and for the proper erection, installation, operation and maintenance of the Leased Property or any part thereof.

  • Compliance With Insurance Requirements Borrower will comply with all Insurance requirements and will not permit any condition to exist on the Mortgaged Property that would invalidate any part of any Insurance coverage required under this Loan Agreement.

  • Compliance with Legal and Insurance Requirements, etc Subject to Section 8.3(b) below and Section 12.2 (relating to permitted contests), Lessee, at its expense, will promptly (a) comply with all applicable Legal Requirements and Insurance Requirements in respect of the use, operation, maintenance, repair and restoration of the Leased Property, and (b) procure, maintain and comply with all appropriate Licenses and other authorizations required for any use of the Leased Property and Lessee’s Personal Property then being made, and for the proper erection, installation, operation and maintenance of the Leased Property or any part thereof.

  • Review of insurance requirements The Security Trustee shall be entitled to review the requirements of this Clause 13 from time to time in order to take account of any changes in circumstances after the date of this Agreement which are, in the opinion of the Security Trustee, significant and capable of affecting the Borrowers, the Ships and their Insurances (including, without limitation, changes in the availability or the cost of insurance coverage or the risks to which each Borrower may be subject), and may appoint insurance consultants in relation to this review at the cost of the relevant Borrower.

  • Additional Insurance Requirements The policies shall include, or be endorsed to include, the following provisions:

  • Compliance with Legal and Insurance Requirements Subject to Article XII relating to permitted contests, Lessee, at its expense, (a) shall comply, in all material respects with all Legal Requirements and Insurance Requirements applicable to Lessee and the use, operation, maintenance, repair and restoration of the Facilities and the Leased Property, whether or not compliance therewith shall require structural change in any of the Leased Improvements or interfere with the use and enjoyment of the Leased Property; (b) shall not use the Leased Property and Lessee’s Personal Property for any unlawful purpose; (c) shall procure, maintain and comply with all material Licenses and any other licenses, certificates, certifications, consents, permits, governmental approvals, and authorizations required under the Legal Requirements for any use of the Leased Property and Lessee’s Personal Property then being made, and for the proper erection, installation, operation and maintenance of the Leased Property or any part thereof, including, without limitation, any Capital Additions; and (d) shall use its commercially reasonable efforts to require under the Tenant Leases that all Tenants acquire and maintain all material Licenses necessary to operate any portion of the Leased Property subleased to them for any appropriate and permitted uses conducted on the Leased Property as may be permitted from time to time hereunder, it being acknowledged by Lessor that any failure by any Tenant under this clause (d) shall not cause (or be deemed to cause) a breach by Lessee of this Section 8.1 unless Lessee has so failed to use commercially reasonable efforts. Lessee’s use of the Leased Property, the use of all Lessee’s Personal Property used in connection with the Leased Property, and the maintenance, alteration, and operation of the same, and all parts thereof, shall at all times conform in all material respects to all Legal Requirements. Upon Lessor’s request, Lessee shall deliver to Lessor copies of all such Licenses that are currently held by Lessee or its Affiliates to the extent applicable to the Leased Property. Lessee shall indemnify and defend, at Lessee’s sole cost and expense, and hold Lessor, its Affiliates and their respective successors and assigns harmless from and against and agrees to reimburse Lessor, its Affiliates and their respective successors and assigns with respect to any and all claims, demands, actions, causes of action, losses, damages, liabilities, reasonable, out-of-pocket costs and expenses (including, without limitation, reasonable attorneys’ fees and court costs) of any and every kind or character, known or unknown, fixed or contingent, asserted against or incurred by Lessor, its Affiliates and their respective successors and assigns, at any time and from time to time by reason or arising out of any breach by Lessee of any of the provisions of this Article VIII or any breach or violation by Lessee of any Legal Requirements, including any and all such claims, demands, liabilities, damages, costs and expenses relating to immaterial violations or breaches of the Legal requirements, except to the extent arising solely as a result of the gross negligence or willful misconduct of Lessor or its Affiliates. All such damages and reasonable out-of-pocket costs and expenses payable to Lessor under this Section 8.1 shall be due and payable by Lessee within thirty (30) days after delivery of written demand from Lessor, its Affiliates or their respective successors and assigns.

  • Existence; Compliance with Legal Requirements; Insurance Each Borrower and Operating Lessee shall do or cause to be done all things necessary to preserve, renew and keep in full force and effect its Entity existence, rights, licenses, Permits and franchises necessary for the conduct of its business and to comply or to initiate compliance in all material respects with all applicable Legal Requirements and Insurance Requirements applicable to it and each Individual Property. Each Borrower and Operating Lessee shall notify Lender promptly of any written notice or order that such Borrower or Operating Lessee receives from any Governmental Authority relating to such Borrower’s or Operating Lessee’s failure to comply with such applicable Legal Requirements relating to such Borrower’s or Operating Lessee’s applicable Individual Property and promptly take any and all actions necessary to bring its operations at such Individual Property into compliance with such applicable Legal Requirements (and shall fully comply with the requirements of such Legal Requirements that at any time are applicable to its operations at any Individual Property) provided, that such Borrower or Operating Lessee at its expense may, after prior notice to the Lender, contest by appropriate legal, administrative or other proceedings conducted in good faith and with due diligence, the validity or application, in whole or in part, of any such applicable Legal Requirements as long as (i) neither the applicable Collateral nor any part thereof or any interest therein, will be sold, forfeited or lost or subject to a continuing Lien if such Borrower or Operating Lessee pays the amount or satisfies the condition being contested, and such Borrower or Operating Lessee would have the opportunity to do so, in the event of such Borrower’s or Operating Lessee’s failure to prevail in the contest, (ii) Lender would not, by virtue of such permitted contest, be exposed to any risk of any civil liability or criminal liability, and (iii) such Borrower or Operating Lessee shall have furnished to the Lender additional security in respect of the claim being contested or the loss or damage that may result from such Borrower’s or Operating Lessee’s failure to prevail in such contest in such amount as may be reasonably requested by Lender but in no event less than one hundred twenty-five percent (125%) of the amount of such claim. Each Borrower and Operating Lessee shall at all times maintain, preserve and protect, or cause the maintenance, preservation and protection of, all franchises and trade names and preserve or cause the preservation of all the remainder of its property necessary for the continued conduct of its business and keep the applicable Individual Properties, or cause the same to be kept, in good repair, working order and condition, except for reasonable wear and use, and from time to time make, or cause to be made, all necessary repairs, renewals, replacements, betterments and improvements thereto, all as more fully provided in the Mortgages. Borrowers and Operating Lessee shall keep their Individual Properties insured at all times, as provided in the Mortgages.

  • Compliance with Applicable Requirements In carrying out its obligations under this Agreement, the Advisor shall at all times conform to:

  • Additional Reporting Requirements Contractor agrees to submit written quarterly reports to H-GAC detailing all transactions during the previous three (3) month period. Reports must include, but are not limited, to the following information:

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