Common use of Recourse to Security Clause in Contracts

Recourse to Security. Aurizon Network may have recourse to the Security where the End User fails to pay any amount payable by the End User to Aurizon Network under, or in connection with, this Agreement: (a) if the amount is payable by a specified due date, by the due date for payment; or (b) if the amount is not payable by a specified due date, within a reasonable period after Aurizon Network has requested payment of the relevant amount.

Appears in 7 contracts

Sources: Access Holder Access Agreement, End User Access Agreement, End User Access Agreement

Recourse to Security. Aurizon Network may have recourse to the Security where the End User Operator fails to pay any amount payable by the End User Operator to Aurizon Network under, or in connection with, this Agreement: (a) if the amount is payable by a specified due date, by the due date for payment; or (b) if the amount is not payable by a specified due date, within a reasonable period after Aurizon Network has requested payment of the relevant amount.

Appears in 6 contracts

Sources: Operator Access Agreement, Train Operations Agreement, Operator Access Agreement

Recourse to Security. Aurizon Network may have recourse to the Security where the End User UserAccess Holder fails to pay any amount payable by the End User UserAccess Holder to Aurizon Network under, or in connection with, this Agreement: (a) if the amount is payable by a specified due date, by the due date for payment; or (b) if the amount is not payable by a specified due date, within a reasonable period after Aurizon Network has requested payment of the relevant amount; (c) if the amount is the subject of a Dispute, in accordance with clause 5.4(c)(i).

Appears in 1 contract

Sources: End User Access Agreement