Lessor Determined Security Clause Samples

The Lessor Determined Security clause gives the lessor the authority to set the type and amount of security deposit or other financial assurance required from the lessee. In practice, this means the lessor can decide whether a cash deposit, letter of credit, or other form of security is necessary, and can adjust the required amount based on factors such as the lessee’s creditworthiness or changes in risk. This clause ensures the lessor has flexibility to protect their interests and mitigate potential losses from default or damage by the lessee.
Lessor Determined Security. The amount of bond or Letters of Credit to be obtained by Lessee, or cash from Lessee, for each phase of ▇▇▇▇▇▇’s operations described in this Lease, including Sections 8.2 and 8.3 and any adjustment under Section 8.1.4, will be determined in writing by ▇▇▇▇▇▇ and will be based on the then-current cost as determined by ▇▇▇▇▇▇ and reviewed by Lessor, plus fifteen percent (15%), of a third-party contractor’s completion of the Decommissioning and Reclamation Plan as may be required for each phase and as provided by Lessee. In the alternative, and at ▇▇▇▇▇▇’s sole cost, the Parties may hire a mutually agreeable third party to estimate and recommend appropriate amount of security for each phase under this Lease.
View SourceView Similar (3)
Lessor Determined Security. The amount of Security to be supplied by Lessee will be determined in writing by ▇▇▇▇▇▇.
View Source
Lessor Determined Security. The amount of bond or Letters of Credit to be obtained by Lessee, or cash from Lessee, for each phase of ▇▇▇▇▇▇’s operations described in this Lease, including Sections 8.2, 8.3, and 8.4 and any adjustment under Section 8.1.4, will be determined in writing by Lessor and will be based on the then-current cost as determined by Lessee and reviewed by Lessor, plus fifteen percent (15%) (including, but not limited to, costs to transport and deposit all materials to a recycling or disposal facility, net of salvage value), of a third-party contractor’s completion of the Decommissioning and Reclamation Plan as may be required for each phase and as provided by Lessee, or as otherwise determined by Lessor. In the alternative, and at ▇▇▇▇▇▇’s sole cost, the Parties may hire a mutually agreeable third party to estimate and recommend appropriate amount of security for each phase under this Lease. In addition to the financial assurances and/or security referenced in Sections 8.2, 8.3, and 8.4 and any adjustment under Section 8.1.4,, a bond shall be in place sufficient to cover two years’ rent extending through the complete reclamation upon termination, should operations cease for any reason, including through the complete reclamation of the Leased Premises in accordance with the terms and conditions of the Lease.
View Source

Related to Lessor Determined Security

  • Airport Security The Contractor shall be familiar with and conduct its operations in accordance with all regulations and directives of the Authority and the Transportation Security Administration, and any other federal, state or local government having jurisdiction over the airport, with respect to the maintenance of airport security.

  • Grant Security Grant Bank a security interest in any of Borrower’s assets. Negotiate Items. Negotiate or discount all drafts, trade acceptances, promissory notes, or other indebtedness in which Borrower has an interest and receive cash or otherwise use the proceeds.

  • Premises Security 10.1 Security of premises and control of access.

  • % Deposit Payment of The Fixed Reserve Price 5.1. E-Bidders must make deposit payment as required under the Conditions of Sale attached to Proclamation of Sale, i.e. 10% of the reserve price. 5.2. Payment of the deposit must be made via local bank transfer in favour of Rajan Auctioneers Bidders Account (BIDDER DEPOSIT). Transaction must be done with in one (1) working day before the auction date with the following details; a) Account’s Name : RAJAN AUCTIONEERS SDN BHD - ACC2 b) Name of Bank : RHB BANK BERHAD c) Account Number : 21242400054193 d) Description : BIDDER DEPOSIT 5.3. Evidence of the transfer must be uploaded and submitted at the time of registration. 5.4. E-Bidders residing outside Malaysia/ (“Foreign E-Bidders”) must make deposit payment as required under the Conditions of Sale attached to Proclamation of Sale, i.e. 10% of the reserve price. Payment of the deposit must be made to as per mentioned in Proclamation of Sale in favour of the Auctioneer in accordance with 5.2 herein above with Swift Code as: ▇▇▇▇▇▇▇▇ ,Branch :1812424, Jalan Stesyen Klang. Evidence of payment must be uploaded and submitted at ▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇@▇▇▇▇▇.▇▇▇ or WhatsApp to ▇▇▇-▇▇▇▇▇▇▇ within (4) working days before auction date.

  • JOB SECURITY 23.01 Subject to the willingness and capacity of individual employees to accept relocation and retraining, the Employer will make every reasonable effort to ensure that any reduction in the work force will be accomplished through attrition.