Insufficient Security Clause Samples

The Insufficient Security clause defines the obligations and liabilities of parties in the event that security measures are deemed inadequate to protect data or assets. Typically, this clause outlines the minimum security standards required, the process for identifying and remedying deficiencies, and the consequences if those standards are not met, such as notification requirements or potential liability for breaches. Its core function is to ensure that both parties maintain appropriate security protocols, thereby reducing the risk of data breaches and clarifying responsibility if a security failure occurs.
Insufficient Security. ‌ No Artist shall work for, or be required to work for, or continue in the engagement of any Theatre, should the amount of security deposited or arranged with Equity be insufficient to satisfy the terms of Article 33:00 of this Agreement and/or insufficient security for the payment of any outstanding claim.
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Insufficient Security. If the proceeds of the Security are not sufficient to cover the items listed in Article 3.6, the Owners agree to pay any shortfall to the City within thirty (30) days of being invoiced. Despite any other terms in this Agreement, if the Owners fail to pay the shortfall within thirty (30) days, the City may offset any shortfall against any Overexpenditure Recovery Amounts that would have otherwise been payable to the Owners as outlined in Article 2, or any other funds that would otherwise be payable to the Owners by the City under this Agreement.
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Insufficient Security. If Purchaser defaults in carrying out Final Decommissioning as and when required, and one of the Sellers undertakes the Final Decommissioning, the calling of any Decommissioning Security or Backstop Letter of Credit shall not release or discharge the Final Decommissioning obligations of the Purchaser, and if the Decommissioning Security, together with any Backstop Letter of Credit, is insufficient to cover the full costs of the Final Decommissioning, Purchaser shall indemnify the Sellers for any amounts which any Seller incurs in carrying out the Final Decommissioning in excess of the amounts received as a result of calling the Decommissioning Security and any Backstop Letter of Credit.
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Insufficient Security. If at any time DevelopmentWA reasonably considers the Bonded Amount does not represent sufficient security to DevelopmentWA, having regard to the User's undischarged liabilities (including any contingent liabilities) or obligations under this Agreement, the User will, within 5 Business Days after receiving written Notice from DevelopmentWA to do so, procure a replacement or additional bond from one or more sureties reasonably acceptable to DevelopmentWA. In any such event, this Agreement will be construed (as the context permits) so that Conditions 11.2 to 11.4 (inclusive) apply equally to the replacement or additional bond.
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Insufficient Security. Any determination by ExxonMobil, in its sole determination, that ExxonMobil has insufficient security for payment of amounts owing by Distributor.
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Insufficient Security. If at any time the Operator reasonably considers the Bonded Amount does not represent sufficient security to the Operator, having regard to the User's undischarged liabilities (including any contingent liabilities) or obligations under this Agreement, the User must, within five (5) Business Days after receiving written Notice from the Operator to do so, procure a replacement or additional bond from one or more sureties reasonably acceptable to the Operator. In any such event, this Agreement will be construed (as the context permits) so that clauses 12.2 to 12.4 (inclusive) apply equally to the replacement or additional bond.
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Related to Insufficient Security

  • Payment Security To secure all of CAISO’s payment obligations to Owner under this Agreement, CAISO agrees to grant Owner a security interest and lien in the following collateral (collectively, the “Collateral”): (a) all past, present and future accounts and other amounts Responsible Utility owes CAISO at any time pursuant to Section 41 of the CAISO Tariff attributable to invoices submitted by Owner under this Agreement (collectively, the “Accounts”), (b) the RMR Owner Facility Trust Account, all funds in the RMR Owner Facility Trust Account at any time, and all funds paid on account of any Accounts, (c) all proceeds of the Collateral, if any, and (d) all of CAISO’s right, title and interest in the Collateral. CAISO represents and warrants to Owner that (a) CAISO has the authority to grant such security interest, (b) CAISO will have good, marketable and exclusive title to all of the Collateral, (c) such security interest and lien will at all times be a valid, enforceable and first-priority lien on the Collateral, and (d) such security interest will be duly perfected by the filing of a financing statement under the California Uniform Commercial Code describing the Collateral in the office of the Secretary of State of California and the delivery of a written notice of Owner’s security interest to the bank with which the RMR Owner Facility Trust Account is maintained. If CAISO defaults on its obligation to pay under this Agreement, Owner shall be entitled to enforce such securityinterest, to exercise its rights in the Collateral, to collect the Accounts from Responsible Utility, to collect all funds in the RMR Owner Facility Trust Account, and to exercise all other rights and remedies under the California Uniform Commercial Code. CAISO agrees to promptly execute and deliver all financing statements and other documents Owner reasonably requests, including but not limited to a written notice of Owner’s security interest in the Collateral to the bank with which the RMR Owner Facility Trust Account is maintained, in order to maintain, perfect and enforce such security interest.

  • Insufficient Funds If at any time insufficient funds are received by and available to the Administrative Agent to pay fully all amounts of principal, L/C Borrowings, interest and fees then due hereunder, such funds shall be applied (i) first, toward payment of interest and fees then due hereunder, ratably among the parties entitled thereto in accordance with the amounts of interest and fees then due to such parties, and (ii) second, toward payment of principal and L/C Borrowings then due hereunder, ratably among the parties entitled thereto in accordance with the amounts of principal and L/C Borrowings then due to such parties.

  • MANAGEMENT SECURITY Section 1. The Federation hereby accepts liability for any damage to or loss of state property that is the proximate cause of action by striking employees of this bargaining unit, provided however, that liability under this section shall be restricted to include any alleged loss of revenue or other incidental or punitive damage sought by the Employer.

  • Replacement Securities If the Holder of a Security claims that the Security has been mutilated, destroyed, lost or stolen, the Corporation may issue and the Trustee shall authenticate a replacement Security of the same series with identical terms as the Securities exchanged if the requirements of Section 8-405 of the Uniform Commercial Code (or any successor provision) are met. Such Holder shall furnish an indemnity bond sufficient in the judgment of the Corporation and the Trustee to protect the Corporation, the Trustee, the Paying Agent, the Registrar and any co-registrar from any loss that any of them may suffer if a Security is replaced. The Corporation and the Trustee may charge for their expenses in replacing a Security. In case any such mutilated, destroyed, lost or stolen Security has become due and payable, the Corporation in its discretion may, instead of issuing a new Security, pay such Security (without surrender thereof, except in the case of a mutilated Security) if the applicant for such payment shall furnish to the Corporation, the Trustee, the Paying Agent, the Registrar and any co-registrar for such Security such security or indemnity as may be required by them to hold each of them harmless, and in case of destruction, loss or theft, evidence satisfactory to the Corporation, the Trustee, the Paying Agent, the Registrar and any co-registrar, and any agent of any of them, of the destruction, loss or theft of such Security and the ownership thereof. Upon the issuance of any new Security under this Section, the Corporation may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses in connection therewith (including all fees and expenses of the Trustee, the Paying Agent, the Registrar and any co-registrar for such Security). Every new Security of any series issued pursuant to this Section in lieu of any destroyed, lost or stolen Security or in exchange for any mutilated Security, shall constitute an original additional obligation of the Corporation, whether or not the destroyed, lost or stolen Security shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Securities of the same series. The provisions of this Section are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities.

  • Government Securities 16 Guarantee................................................... 16 Guarantor................................................... 17 Holder...................................................... 17 Incur....................................................... 17