Security Clause Example from Business Contracts

This example Security clause appears in 10 contracts from 1 company

Security. Notwithstanding anything herein to the contrary (but subject to Section 27 of this Agreement), to the extent requested by Indemnitee and approved by the Board, the Company may at any time and from time to time provide security to Indemnitee for the Company's obligations hereunder through an irrevocable bank line of credit, funded trust or other collateral. Any such security, once provided to Indemnitee, may not be revoked or released without the prior written consent of Indemnitee.