Common use of Security Instrument Clause in Contracts

Security Instrument. Licensee will furnish and maintain throughout the term of this Agreement, and thereafter until all of the obligations of Licensee have been fully performed, a bond or other security instrument (“Security Instrument”) satisfactory in form and content to Licensor in substitution therefore, to guarantee the payment of any sums which may become due to Licensor or an Licensor Agent for Pole Attachment Rental Fees, inspections, inventories, Make Ready Costs, Unauthorized Attachment Fees, for work performed for the benefit of Licensee under this Agreement, including the removal of Attachments upon termination of this Agreement, for any expense that may be incurred by Licensor or an Licensor agent because of any Default of Licensee, or for any other expense that is to be borne by Licensee under this Agreement. The amount of said Security Instrument, which amount will be maintained throughout the term of the Agreement and thereafter until all of the obligations of Licensee have been fully performed, will be equal to ten thousand US dollars ($10,000), or twenty-five dollars ($25) per Attachment, whichever is larger. The amount of the Security Instrument may, in Licensor’s discretion, be adjusted if Licensee purchases, acquires, or obtains a controlling interest in additional broadband or other facilities within Licensor’s service territory not currently covered by this Agreement which results in a significant increase in the number of Attachments. Any such adjustment will not exceed twenty-five dollars ($25) per new Attachment. Failure to provide and maintain the aforementioned Security Instrument will be deemed a Default under this Agreement, in which event Licensor will have the right to pursue any and all remedies set forth in this Agreement and at law or equity. The furnishing of such Security Instrument will not affect, limit, diminish or otherwise reduce any obligations of Licensee under this Agreement.

Security Instrument. Licensee will shall furnish and maintain throughout the term of this Agreement, and thereafter until all of the obligations of Licensee have been fully performed, a bond bond, or other security instrument (“Security Instrument”) Instrument satisfactory in form and content to Licensor SLECA in substitution therefore, to guarantee the payment of any sums which may become due to Licensor SLECA or an Licensor a SLECA Agent for Pole Attachment Rental Fees, inspections, inventories, Make Ready Costs, Unauthorized Attachment Fees, for work performed for the benefit of Licensee under this Agreement, including the removal of Attachments upon termination of this Agreement, for any expense that may be incurred by Licensor SLECA or an Licensor agent a SLECA Agent because of any Default of Licensee, or for any other expense that is to be borne by Licensee under this Agreement. The amount of said Security Instrument, which amount will shall be maintained throughout the term of the Agreement and thereafter until all of the obligations of Licensee have been fully performed, will shall be equal to ten thousand US dollars ($10,000), or twenty-five dollars ($25) per Attachment, whichever is larger. The amount of the Security Instrument may, in LicensorSLECA’s discretion, be adjusted if Licensee purchases, acquires, or obtains a controlling interest in additional broadband or other facilities within LicensorSLECA’s service territory not currently covered by this Agreement which results in a significant increase in the number of Attachments. Any such adjustment will shall not exceed twenty-five dollars ($2525.00) per new Attachment. Failure to provide and maintain the aforementioned Security Instrument will shall be deemed a Default under this Agreement, in which event Licensor will SLECA shall have the right to pursue any and all remedies set forth in this Agreement and at law or equity. The furnishing of such Security Instrument will shall not affect, limit, diminish or otherwise reduce any obligations of Licensee under this Agreement.

Security Instrument. Licensee will shall furnish and maintain throughout the term of this Agreement, and thereafter until all of the obligations of Licensee have been fully performed, a bond or other security instrument (“Security Instrument”) satisfactory in form and content to Licensor in substitution therefore, to guarantee the payment of any sums which may become due to Licensor or an Licensor Agent for Pole Attachment Rental Fees, inspections, inventories, Make Ready Costs, Unauthorized Attachment Fees, for work performed for the benefit of Licensee under this Agreement, including the removal of Attachments upon termination of this Agreement, for any expense that may be incurred by Licensor or an Licensor agent because of any Default of Licensee, or for any other expense that is to be borne by Licensee under this Agreement. The amount of said Security Instrument, which amount will shall be maintained throughout the term of the Agreement and thereafter until all of the obligations of Licensee have been fully performed, will shall be equal to ten thousand US dollars ($10,000), or twenty-five dollars ($25) per Attachment, whichever is larger. The amount of the Security Instrument may, in Licensor’s discretion, be adjusted if Licensee purchases, acquires, or obtains a controlling interest in additional broadband or other facilities within Licensor’s service territory not currently covered by this Agreement which results in a significant increase in the number of Attachments. Any such adjustment will shall not exceed twenty-five dollars ($25) per new Attachment. Failure to provide and maintain the aforementioned Security Instrument will shall be deemed a Default under this Agreement, in which event Licensor will shall have the right to pursue any and all remedies set forth in this Agreement and at law or equity. The furnishing of such Security Instrument will shall not affect, limit, diminish or otherwise reduce any obligations of Licensee under this Agreement.

Security Instrument. Licensee will shall furnish and maintain throughout the term of this Agreement, and thereafter until all of the obligations of Licensee have been fully performed, a bond bond, or other security instrument (“Security Instrument”) Instrument satisfactory in form and content to Licensor EMC in substitution therefore, to guarantee the payment of any sums which may become due to Licensor EMC or an Licensor EMC Agent for Pole Attachment Rental Fees, inspections, inventories, Make Ready Costs, Unauthorized Attachment Fees, for work performed for the benefit of Licensee under this Agreement, including the removal of Attachments upon termination of this Agreement, for any expense that may be incurred by Licensor EMC or an Licensor agent EMC Agent because of any Default of Licensee, or for any other expense that is to be borne by Licensee under this Agreement. The amount of said Security Instrument, which amount will shall be maintained throughout the term of the Agreement and thereafter until all of the obligations of Licensee have been fully performed, will shall be equal to ten thousand US dollars ($10,000)10,000.00 US, or twenty-five dollars ($25) 25.00 US per Attachment, whichever is larger. The amount of the Security Instrument may, in Licensor’s EMC’S discretion, be adjusted by the change in the Handy Xxxxxxx Index for the South Atlantic Region, Account 364 to account for changes in the costs of owning and maintaining Poles, or if Licensee purchases, acquires, or obtains a controlling interest in additional broadband or other facilities within LicensorEMC’s service territory not currently covered by this Agreement which results in a significant increase in the number of Attachments. Any such adjustment will shall not exceed twenty-five dollars ($25) the then current rate per Pole per new Attachment. Failure to provide and maintain the aforementioned Security Instrument will shall be deemed a Default under this Agreement, in which event Licensor will EMC shall have the right to pursue any and all remedies set forth in this Agreement and at law or equity. The furnishing of such Security Instrument will shall not affect, limit, diminish or otherwise reduce any obligations of Licensee under this Agreement.