Security Clause Example from Business Contracts

Security. To the extent requested by Indemnitee and approved by the Board, the Company may, to the fullest extent permitted by applicable law, 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 the Indemnitee.