Delivery of Performance Assurance Sample Clauses

Delivery of Performance Assurance. Paragraph 4 is replaced in its entirety, as follows: “On any Calculation Date on which (a) no Event of Default or Potential Event of Default has occurred and is continuing with respect to the Secured Party, (b) no Early Termination Date has occurred or been designated as a result of an Event of Default with respect to the Secured Party for which there exist any unsatisfied payment Obligations, and (c) the Pledging Party’s Collateral Requirement equals or exceeds its Minimum Transfer Amount, after first rounding up to the nearest integer multiple of the Rounding amount, then the Secured Party may demand that the Pledging Party Transfer to the Secured Party, and the Pledging Party shall, after receiving such notice from the Secured Party, Transfer, or cause to be Transferred to the Secured Party, Performance Assurance for the benefit of the Secured Party, having a Collateral Value at least equal to the Pledging Party’s Collateral Requirement. Unless otherwise agreed in writing by the Parties, (i) Performance Assurance (other than Cash) demanded of a Pledging Party on or before the Notification Time on a Local Business Day shall be provided by the close of business on the next Local Business Day thereafter, (ii) Performance Assurance (other than Cash) demanded of a Pledging Party after the Notification Time on a Local Business Day shall be provided by the close of business on the second Local Business Day thereafter, (iii) Performance Assurance that is Cash demanded of a Pledging Party on or before the Notification Time on a Local Business Day shall be provided by the close of business on the next Local Business Day, and (iv) Performance Assurance that is Cash demanded of a Pledging Party after the Notification Time on a Local Business Day shall be provided by the close of business on the second Local Business Day thereafter. Any Letter of Credit or other type of Performance Assurance (other than Cash) shall be Transferred to such address as the Secured Party shall specify and any such demand made by the Secured Party pursuant to this Paragraph 4 shall specify account information for the account to which Performance Assurance in the form of Cash shall be Transferred.”
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Delivery of Performance Assurance. Paragraph 4 is replaced in its entirety with the following:
Sample 1Sample 2Sample 3See All (6)
Delivery of Performance Assurance. On any Calculation Date on which (a) no Default or Potential Event of Default has occurred and is continuing with respect to Secured Group, (b) no Underlying Master Agreements Close-Out has occurred or been designated as a result of a Default with respect to Secured Group, and (c) Pledging Group's Collateral Requirement equals or exceeds its Minimum Transfer Amount, then Secured Group may demand that Pledging Group Transfer to Secured Group, and Pledging Group shall, after receiving such notice from Secured Group, Transfer, or cause to be Transferred to Secured Group, Performance Assurance for the benefit of Secured Group, in an amount and with a Value at least equal to Pledging Group's Collateral Requirement. The amount of Performance Assurance required to be Transferred hereunder shall be rounded up to the nearest integral multiple of the Rounding Amount. Unless otherwise agreed in writing by the Parties, Performance Assurance demanded of Pledging Group on or before the Notification Time on a Business Day shall be Transferred by the close of business on the next Business Day, and if demanded after the Notification Time on a Business Day shall be Transferred by the close of business on the second following Business Day. Any Letter of Credit shall be delivered to such address as Secured Group shall specify and any such demand made by Secured Group pursuant to this Paragraph 4 shall specify account information for the account to which Performance Assurance in the form of Cash shall be delivered.
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Related to Delivery of Performance Assurance

  • Manner of Performance Subject to the provisions of Article XII hereof, the Contractor shall perform all of the Work described in the Statement of Work, or cause such Work to be performed in an efficient and expeditious manner and in accordance with all of the terms and provisions of this Agreement. The Contractor shall perform the Work in accordance with the current professional standards and with the diligence and skill expected for the performance of work of the type described in the Statement of Work. The Contractor shall furnish such personnel and shall procure such materials, machinery, supplies, tools, equipment and other items as may reasonably be necessary or appropriate to perform the Work in accordance with this Agreement.

  • Time of Performance Time for performance of the Scope of Services under this Agreement shall begin with receipt of the Notice to Proceed and end no later than December 31, 2026. Consultant shall complete the tasks described in the Scope of Services, within this time or within such additional time as may be extended by the County.

  • Standard of Performance Consultant represents and warrants that it has the qualifications, experience and facilities necessary to properly perform the services required under this Agreement in a thorough, competent and professional manner. Consultant shall at all times faithfully, competently and to the best of its ability, experience and talent, perform all services described herein. In meeting its obligations under this Agreement, Consultant shall employ, at a minimum, generally accepted standards and practices utilized by persons engaged in providing services similar to those required of Consultant under this Agreement.

  • Standards of Performance A. Standard of Care: The standard of care for all professional engineering and related services performed or furnished by Engineer under this Agreement will be the care and skill ordinarily used by members of the subject profession practicing under similar circumstances at the same time and in the same locality. Engineer makes no warranties, express or implied, under this Agreement or otherwise, in connection with any services performed or furnished by Engineer.

  • Suspension of Performance Notwithstanding any other provision hereof, if an Event of Default or a Potential Event of Default has occurred and is continuing, the Non-Defaulting Party, upon written notice to the Defaulting Party, has the right (i) to suspend performance under any or all Transactions and (ii) to the extent an Event of Default has occurred and is continuing, to exercise any remedy available at law or in equity, except as limited be Section 5.7.

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