Common use of Realization of Security Clause in Contracts

Realization of Security. The Gas Distributor reserves the right realize the security provided to it by the Gas Vendor upon the Gas Vendor failing to meet any of its financial obligations set out in this Agreement, provided that: (a) the Gas Distributor has given notice to the Gas Vendor that payment has not been received from the Gas Vendor on the date due for payment; and (b) five business days have elapsed from the date of receipt by the Gas Vendor of the notice referred to in section 3.7(a).

Realization of Security. The Gas Distributor reserves the right to realize the security provided to it by the Gas Vendor upon the Gas Vendor failing to meet any of its financial obligations set out in this the Agreement, provided that: (a) the Gas Distributor has given notice to the Gas Vendor that payment has not been received from the Gas Vendor on the date due for payment; and (b) five business days have elapsed from the date of receipt by the Gas Vendor of the notice referred to in section 3.7(a).

Realization of Security. The Gas Distributor reserves the right realize the security provided to it by the Gas Vendor upon the Gas Vendor failing to meet any of its financial obligations set out in this Agreement., provided that: (a) the Gas Distributor has given notice to the Gas Vendor that payment has not been received from the Gas Vendor on the date due for payment; and (b) five business days have elapsed from the date of receipt by the Gas Vendor of the notice referred to in section 3.7(a).. Article 4 - Financial Arrangements‌