Common use of Acceptable Types of Security Clause in Contracts

Acceptable Types of Security. Acceptable types of security under this Lease include bonds, irrevocable letters of credit (“Letters of Credit”), cash bonds, or cash (collectively or individually “security”). All security must be in a form acceptable to Lessor and conditioned on ▇▇▇▇▇▇’s compliance with the following: all laws and rules of the State, all provisions of this Lease, and any terms or conditions imposed by any State agency. All bonds must be issued by an Idaho qualified U.S. Bonding Corporation, and any Letters of Credit must be issued by an FDIC insured bank located in the state of Idaho or with an approved intermediary facilitating bank located in Idaho for purposes of presentation and payment on the Letters of Credit in Idaho. Any bond or Letters of Credit shall be subject to Lessor’s approval. Any bond or Letters of Credit shall provide for notice to Lessor prior to any cancellation or lapse thereof.

Acceptable Types of Security. Acceptable types of security under this Lease include bonds, irrevocable letters of credit (“Letters of Credit”), cash bonds, or cash (collectively or individually “securitySecurity”). All security Security must be in a form acceptable to Lessor and conditioned on ▇▇▇▇▇▇’s compliance with the following: all laws and rules of the State, all provisions of this Lease, and any terms or conditions imposed by any State agency. All bonds must be issued by an Idaho qualified U.S. Bonding Corporation, and any Letters of Credit must be issued by an FDIC insured bank located in the state of Idaho or with an approved intermediary facilitating bank located in Idaho for purposes of presentation and payment on the Letters of Credit in Idaho. Any bond or Letters of Credit shall be subject to Lessor’s approval. Any bond or Letters of Credit shall provide for notice to Lessor prior to any cancellation or lapse thereof.