Common use of Construction Security Clause in Contracts

Construction Security. a) On or prior to the Effective Date and with effect therefrom Seller shall provide to Purchaser the Construction Security; b) If the Full Commercial Operation Date has not occurred by the Required Full Commercial Operation Date then for each day occurring after the Required Full Commercial Operation Date and until such day as the Full Commercial Operation Date occurs, Purchaser shall be entitled to draw from the Construction Security the Daily Liquidated Damages Sum; c) If the Full Commercial Operation Date does not occur by the Long Stop Full Commercial Operation Date, then Purchaser shall be entitled to draw the balance remaining on the Construction Security; and d) If the Full Commercial Operation Date occurs before the Long Stop Full Commercial Operation Date, the Construction Security shall be returned by Purchaser to Seller, in full or as partially drawn upon in accordance with this Clause 3.3.

Construction Security. a) On or prior to the Effective Date and with effect therefrom Seller shall provide to Purchaser the Construction Security; b) ; If the Full Commercial Operation Date has not occurred by the Required Full Commercial Operation Date then for each day occurring after the Required Full Commercial Operation Date and until such day as the Full Commercial Operation Date occurs, Purchaser shall be entitled to draw from the Construction Security the Daily Liquidated Damages Sum; c) ; If the Full Commercial Operation Date does not occur by the Long Stop Full Commercial Operation Date, then Purchaser shall be entitled to draw the balance remaining on the Construction Security; and d) and If the Full Commercial Operation Date occurs before the Long Stop Full Commercial Operation Date, the Construction Security shall be returned by Purchaser to Seller, in full or as partially drawn upon in accordance with this Clause 3.3.