Project Security Sample Clauses
The Project Security clause establishes the requirements and responsibilities for maintaining the safety and security of a project site, its personnel, and assets. It typically outlines measures such as access controls, surveillance, and protocols for handling security breaches, and may specify which party is responsible for implementing these measures. By clearly defining security obligations, this clause helps prevent unauthorized access, theft, or damage, thereby protecting the project's integrity and minimizing potential risks.
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Project Security. All of the Security Documents and the HVAC Services Agreement, in form and substance satisfactory to the Funding Agents party thereto and (in the case of the Bank Security Documents) the Arranger (as defined in the Bank Credit Agreement), shall have been executed and delivered to the secured parties thereunder and be in full force and effect and all actions necessary or desirable, including all filings, in the reasonable opinion of the Funding Agents party thereto and (in the case of the Bank Security Documents) the Arranger (as defined in the Bank Credit Agreement) to perfect the security interests granted therein as a valid security interest over the Project Security (or, in the case of the security interest granted in the HVAC Services Agreement, the HVAC Component) having the priority contemplated therefor by this Agreement, the Intercreditor Agreement, the HVAC Services Agreement and the Security Documents shall have been taken or made.
Project Security. All of the Security Documents shall continue to be in full force and effect and all actions necessary or desirable (including all filings) in the reasonable opinion of the Funding Agents party thereto to perfect the security interests granted therein as a valid security interest over the Project Security thereunder having the priority contemplated therefor by this Agreement and the Security Documents shall have been taken or made. All property, rights and assets required for the Project shall be free and clear of all encumbrances except for Permitted Liens. The Disbursement Agent shall be entitled to rely upon the certification of the Company in the relevant Advance Request or, if applicable, in the Company's Opening Date Certificate or Completion Certificate, in determining that this condition has been satisfied unless the Disbursement Agent shall have actual knowledge that the Company's certification is inaccurate.
Project Security. On or before the date of Financial Close for the Project, Seller shall furnish a separate performance and payment bond (the “Bond”) in an amount equal to the total Contract Price and otherwise in form and substance substantially similar to the forms of bond set forth in Attachment 13 (“Form of Performance/Payment Bond”). The Bond shall secure performance by Seller (other than for the portion of the Work constituting design services and any warranty and Performance Guarantees) of all of its obligations under this Contract to cause Unit #1 to achieve Substantial Completion as provided in Article 10 herein and shall also secure payment by Seller of each Subcontractor performing work with respect to Unit #1. The Bond applicable to Unit #1 shall only secure performance with respect to Unit #1. The Contract Price includes * in respect of this Bond. If Seller is unable to obtain or maintain the Bond, then Purchaser may terminate this Contract in whole or in part for such inability by Seller pursuant to this Article 3 and such termination shall be Purchaser’s sole remedy in such event. If Purchaser terminates this Contract pursuant to this Article 3, then Purchaser shall also be entitled to terminate all of the other Multi-Hearth Furnace Contracts pursuant to Article 3 thereunder. If Purchaser terminates any of the other Multi-Hearth Furnace Contracts pursuant to Article 3 thereunder, then Purchaser shall also be entitled to terminate this Contract pursuant to Article 3 hereunder. At any time following the Unit Installation Completion Date, Purchaser may direct or approve, by written notice to Seller, a reduction in amount or termination of the Bond for Unit #1 so as to facilitate the issuance or enhancement of performance security provided by or on behalf of Seller under the other Multi-Hearth Furnace Contracts. Any termination of this Contract by Purchaser under this Article 3 shall be effective upon receipt by Seller of written notice thereof. Upon receipt of such termination notice, Seller shall cease (and not merely suspend) performance of the Work. In the event of termination under this Article 3, Seller shall be entitled to the following payments:
Project Security. All of the Security Documents, in form and substance satisfactory to (a) in the case of the Bank Security Documents, the Bank Agent, (b) in the case of the Second Mortgage Notes Security Documents, the Representatives of the Underwriters and (c) in the case of the FF&E Security Documents, the FF&E Agent, shall have been executed and delivered to the secured parties thereunder and shall be in full force and effect and all actions necessary or desirable, including all filings, in the opinion of the Funding Agents party thereto to perfect the security interests granted therein as a valid security interest over the Project Security (or in the case of the FF&E Agent, the FF&E Component) having the priority contemplated therefor by this Agreement, the Intercreditor Agreements and the Security Documents shall have been taken or made.
Project Security. All of the Security Documents other than those not required to be delivered as of the Closing Date, in form and substance satisfactory to (a) in the case of the Bank Security Documents, the Bank Agent, (b) in the case of the Second Mortgage Notes Security Documents, the Representatives of the Underwriters and (c) in the case of the FF&E Security Documents, the FF&E Agent, shall have been executed and delivered to the secured parties thereunder and shall be in full force and effect and all actions necessary or desirable, including all filings, in the opinion of the Funding Agents party thereto to perfect the security interests granted therein as a valid security interest over the Project Security (or in the case of the FF&E Agent, the FF&E Component) having the priority contemplated therefor by this Agreement, the Intercreditor Agreements and the Security Documents shall have been taken or made.
Project Security. Landlord shall provide, as part of the Project Operating Expenses and Building Operating Costs, twenty-four (24) hour security for the Project. The Building will be locked during non-business hours. Tenant shall have access to the Premises after normal building hours.
Project Security. All of the Security Documents other than those not required to be delivered as of the Closing Date, in form and substance satisfactory to the Bank Agent and the Representatives of the Initial Purchasers, shall have been executed and delivered to the Secured Parties thereunder and shall be in full force and effect and all actions necessary or desirable, including all filings, in the opinion of the Funding Agents party thereto to perfect the security interests granted therein as a valid security interest over the Project Security having the priority contemplated therefor by this Agreement, the Intercreditor Agreement and the Security Documents shall have been taken or made (except for any filings or recordings to perfect the Secured Parties’ lien in any motor vehicles).
Project Security. All actions necessary or desirable, including all filings, in the opinion of the Administrative Agent, to perfect the security interests granted in the Security Documents as a valid security interest over the Collateral having the priority contemplated therefor by this Agreement and the Security Documents shall have been delivered to the Administrative Agent.
Project Security. (a) To secure NPPH’s performance of its obligations under the EPC Contract, NPPH agrees to obtain:
(i) as a closing condition of the APA, an irrevocable draw-down letter of credit (or other form of security acceptable to NSPI, in its sole discretion) substantially in the form attached as Schedule E in the amount of $10 Million; and
(ii) on the earlier of:
1. the date on which the aggregate Contract Price invoiced under the EPC Contract meets or exceeds $10 million; and
2. January 7, 2011, a letter of credit in replacement of the letter of credit in (i) on the same terms as the letter of credit in (i) in the amount of $15 million.
(b) On the Commercial Operation Date, NPPH may reduce the letter of credit to $10 Million on the same terms as the original letter of credit. Unless the letter of credit is called, it will expire on the date that is the later of: (a) two weeks following the Total Completion Date; and (b) two weeks following the end of the warranty period set out in section 7(a).
(c) The EPC Contract will set out the process for renewing and replacing letters of credit before their expiry.
(d) Dollar amounts set out above are in Canadian dollars but the letters of credit and replacements thereof may be denominated in Canadian or US dollars. The EPC Contract will include judgement currency language.
Project Security. All of the Security Documents shall continue to be in full force and effect and all actions necessary or desirable (including all filings) in the reasonable opinion of the Disbursement Agent and the Funding Agents party thereto to perfect the security interests granted therein as a valid security interest over the applicable Project Security thereunder having the priority contemplated therefor by this Agreement and the Security Documents shall have been taken or made. All property, rights and assets then required for the Phase II Project shall be free and clear of all encumbrances except for Permitted Liens and Permitted Encumbrances.