Posting of Security Clause Samples

Posting of Security. Any security delivered by Owner pursuant to paragraph (ii) or paragraph (iii) above shall be in cash or the form of security required for Material Alterations under Section 4.12.2 hereof (and if cash, shall be deposited into the Scheduled PIP Reserve Account and disbursed in accordance with Section 6.6.2 of the Mortgage Loan Agreement). If such security is in the form of a Letter of Credit or other non-cash security permitted under Section 4.12.2, then, in lieu of disbursements from the Scheduled PIP Reserve Account, Mortgage Lender shall grant approved reductions in the amount of such Letter of Credit or other security upon satisfaction of the same conditions that are applicable to disbursements of Scheduled PIP Reserve Funds from the Scheduled PIP Reserve Account in accordance with Section 6.5.2 of the Mortgage Loan Agreement. In no event shall there be any duplication of any reserve or security requirements by reason of the obligations under Section 6.5.1(a), paragraph (ii) above and paragraph (iii) above.

Posting of Security. Any security delivered by Borrower pursuant to paragraph (ii) or paragraph (iii) above shall be in cash or the form of security required for Material Alterations under Section 4.12.2 hereof (and if cash, shall be deposited into the Scheduled PIP Reserve Account and disbursed in accordance with Section 6.5.2). If such security is in the form of a Letter of Credit or other non-cash security permitted under Section 4.12.2, then, in lieu of disbursements from the Scheduled PIP Reserve Account, Lender shall grant approved reductions in the amount of such Letter of Credit or other security upon satisfaction of the same conditions that are applicable to disbursements of Scheduled PIP Reserve Funds from the Scheduled PIP Reserve Account in accordance with Section 6.5.2. In no event shall there be any duplication of any reserve or security requirements by reason of the obligations under Section 6.5.1(a), paragraph (ii) above and paragraph (iii) above.

Posting of Security. (1) A Theatre shall be ineligible to employ Actors unless and until such Theatre shall have furnished security in such amount and in such manner and form as may be satisfactory to Equity to insure the payment of the claims of Actors against such Theatre. (2) No Actor shall work or be required to work or continue in the employment of any person or Theatre or any company, if and when Equity shall be dissatisfied with the quality or amount of any security which may be offered or given or requested by Equity to secure the payment of any claim, present or future, of any Actor.

Posting of Security. No later than the Commercialization Date, and for the remaining duration of the Commercial Term (as it may be extended), Company shall post or arrange for the posting of security funds in a manner and amount sufficient to ensure decommissioning of the Solar Facility and removal of the Solar Facility Equipment from the Leased Property consistent with the Decommissioning Cost Estimate, as it may be updated (“Decommissioning Security”). The Decommissioning Security may be posted with an appropriate commercial entity, or if required, a local government agency. The form of the Decommissioning Security shall be in the form of a guaranty, bond, letter of credit, or other form of surety from an entity with an unsecured debt rating of at least BBB- by S&P or Baa3 by ▇▇▇▇▇’▇. Landowner shall have the right to review and approve the form of and plan for using the Decommissioning Security; provided, however, such approval shall not be unreasonably withheld, conditioned or delayed. In the event that a governmental entity with jurisdiction over the Solar Facility requires Company to post a bond or security to secure its performance in removing the Solar Facility Equipment and restoring the Leased Property, then Company’s posting of such bond or security shall be deemed to satisfy its obligations arising under this Section 7.4 to the extent of the amount of such bond or security. To the extent of any deficiency between the Decommissioning Cost Estimate and the amount required to be posted by the governmental authority, then Company shall post security in the amount of the deficiency consistent with acceptable forms of such security listed in this Section 7.4. Company shall provide written evidence to Landowner of Company’s posting of security within thirty (30) days of such posting. The Decommissioning Security shall remain in effect until Company has completed the decommissioning of the Solar Facility and the removal of the Solar Facility Equipment from the Leased Property and met all of Company’s obligations required under Section 7.1 of this Lease. The failure of Company to secure, update and maintain the Decommissioning Security shall constitute a default of Company under this Lease.

Posting of Security. ‌ The Engager shall be ineligible to engage Equity Artists unless and until the Engager shall have furnished security as required in Clause 25:01 to ensure the payment of claims arising from unpaid benefits and fees (including but not limited to fees, additional services, per diem, and transportation) as well as any claim arising from the provisions of Article 48:00 Arbitration.

Posting of Security. For availability and use during any term of this Lease, and prior to the earlier of (i) three (3) years before the end of the Initial Term of the Lease, or (ii) upon a Termination per section 7(b), Tenant shall provide a performance assurance (i.e. letter of credit, surety bond, parent guaranty, etc., as may be elected by Tenant) to the Landlord for the decommissioning of the Generating Facility and restoration of the Site. Tenant shall obtain Landlord’s consent to Tenant’s choice as to the form of performance insurance, provided that Landlord’s consent shall not be unreasonably withheld, conditioned, or delayed. The amount of the performance assurance shall be based on the reasonably estimated cost to dismantle and remove the Generating Facility while taking into consideration the salvage value of solar modules, inverters, support structures and the like that is reasonably determined by a qualified engineer selected by Tenant and approved by Landlord, such approval not to be unreasonably withheld, conditioned, or delayed (“Decommissioning Costs”). Notwithstanding the foregoing, Tenant is not required to provide a performance assurance to the Landlord if Tenant provides a performance assurance to any governmental authority or agency in connection with the removal of the Generating Facility from the Property, provided that such performance assurance is in a form reasonably satisfactory to Landlord.

Posting of Security. Where the Contractor is delinquent more than once during the term of this Collective Agreement, in remitting contributions the Union may require the Contractor to post security in the form of a letter of credit, cash deposit or other form of security acceptable to the Union, in the amount of $50,000.00. The letter of credit or cash deposit shall be held by the Union, in trust, for a period to be determined by the Union. In the event that the Contractor fails to make any payment otherwise required under this Agreement, in its absolute discretion the Union may draw against the letter of credit or cash deposition in any amount not to exceed $50,000.00 to satisfy amounts due.

Posting of Security. The Theatre Company/Producer shall post a security deposit prior to the beginning of the summer season in accordance with the provisions of Art.8 of this Agreement.

Posting of Security. Prior to the recordation of a Final Plat of subdivision for a Development Phase for the Property and in lieu of any other City bonding requirements, Applicant shall post with the City adequate security. Unless another form of security is approved by the City Engineer, the security shall be in the form of an irrevocable letter of credit (“Security”) with the City covering the categories of public improvements hereinafter set forth in an amount equal to one hundred ten percent (110%) of the Applicant‟s engineer‟s estimate of the cost of said public improvements but not the cost of engineering and inspection fees, as approved by the City Engineer, which approval shall not be unreasonably withheld. The categories of improvements shall be as follows: i. Earthwork, excavation and grading and erosion control (public ii. Sanitary sewer; iii. Storm sewer; iv. Water mains; v. Storm water detention areaManagement Facilities; vi. Subgrade preparation, aggregate base course, curb, gutter and vii. Street lighting; viii. Final paving surface course; ix. Landscaping associated with and in Stormwater Management x. Electric improvements; xi. Public sidewalks; and