Common use of Operating Security Clause in Contracts

Operating Security. Within five (5) Days from the Operations Start Date, the Company shall provide and deliver to the Agency a surety bond callable on demand in the form set out in Schedule 7 (Form of Performance Security) as security for the performance by the Company of all of its obligations under this Agreement from the Provisional Operations Start Date until the Termination Date (the “Operating Security”), including:

Operating Security. Within five (5) Days from the Operations Start Date, the Company shall provide and deliver to the Agency a surety bond callable on demand in the form set out in Schedule 7 E (Form of Performance Security) as security for the performance by the Company of all of its obligations under this Agreement from the Provisional Operations Start Date until the Termination Date (the “Operating Security”), including:. The Operating Security shall have a value equivalent to [] and shall be issued by a Performance Security Issuer in favor of the Agency. The Company shall ensure that the Operating Security is always valid and regularly renewed or extended.