Common use of CONTRIBUTION PAYMENTS Clause in Contracts

CONTRIBUTION PAYMENTS. (a) There are three circumstances in which you will be required to make Contribution Payments to Powerbank: i. The initial Contribution Payment required under clause 7; ii. When a Low Balance Contribution Payment is requested under clause 8; and iii. When a Consumption Contribution Payment is requested under clause 9; (b) Your Powerbank Contribution Payments will be held in the Powerbank trust account in your name as beneficiary and may only be used to cover you for price variability in the electricity you purchase from us or an increase in your average electricity consumption. It is not a security deposit. (c) Powerbank funds will be held in one or more separate interest-bearing trust account with a Tier 1 bank. Any movement of funds requires two signatories (d) Beyond making a 100% Powerbank contribution under Clause 7 and Clause 8, in the unlikely event of a reduction in your Powerbank account below the levels defined in Clause 8, you may choose to make additional Contribution Payments under Clause 10. (e) A sample Contribution Notification is set out in the schedule to this Powerbank Agreement.

CONTRIBUTION PAYMENTS. (a) There are three circumstances in which you will be required to make Contribution Payments to Powerbank: i. The initial Contribution Payment required under clause Clause 7; ii. When a Low Balance low balance Contribution Payment is requested under clause Clause 8; and iii. When a Consumption further Contribution Payment is requested under clause Clause 9; (b) Your Powerbank Contribution Payments will be held in the Powerbank trust account in for your name as beneficiary benefit and may only be used to cover you for price variability in the electricity you purchase from us or an increase in your average electricity consumption. It is not a security deposit. (c) Powerbank funds will be held in one or more separate interest-bearing trust account with a Tier 1 bank. Any movement of funds requires two signatoriessignatories from Directors and/or the Company Secretary. (d) Beyond making a 100% Powerbank contribution under Clause 7 and Clause 8, in the unlikely event of a reduction in your Powerbank account below the levels defined in Clause 8, you may choose to make additional Contribution Payments under Clause 10. (e) A sample Contribution Notification is set out in the schedule to this Powerbank Agreement.