Common use of Composition of Security Clause in Contracts

Composition of Security. (a) Prior to the Term Commencement Date, where the Commercial Operation Date occurs after the date of this Agreement, the Completion and Performance Security shall be provided in the form of a Letter of Credit, certified cheque, bank draft, or other equivalent form of surety instrument acceptable to the Buyer, acting reasonably, for the full amount, but for certainty, shall not include guarantees.

Composition of Security. (a) Prior to the Term Commencement Date, where the Commercial Operation Date occurs after the date of this Agreement, the Completion and Performance Security shall be provided in the form of a Letter of Credit, certified cheque, bank draft, or other equivalent form of surety instrument acceptable to the Buyer, acting reasonably, for the full amount, but for greater certainty, such security shall not include guaranteesGuarantees.