Common use of Drawing Upon Security BOTH Clause in Contracts

Drawing Upon Security BOTH. ‌ No Equity member shall work, or be required to work or continue in the engagement of the Theatre, if and when the security arrangements do not meet the requirements of this Article. Equity may draw upon the securities posted to meet payment to Artists of unpaid fees, including payments for additional services, applicable service taxes, deducted dues payments and joining fees, remittances to Equity, and transportation costs of the Artist to the point of origin and return to the Artist's place of residence, provided that it shall simultaneously inform the Theatre of its action. However, the Theatre recognizes Equity's need to protect the interests of its members in an emergency, and, therefore, should it prove impossible to contact the Theatre or its authorized representative in an emergency, Equity may proceed to draw upon security.