Decommissioning Security. (a) Prior to Decommissioning, Security pursuant to the Decommissioning Security Agreement shall be provided by the Contractor in an amount equal to the sum of provisions made to the Decommissioning Costs Reserve, and taken as Recoverable Costs, in all previous years together with interest on such Recoverable Costs calculated to the end of the previous Calendar Year at the actual rate of Uplift.
Decommissioning Security. Concurrently with the execution of this Lease, PEF has furnished Ranchcorp with security for its obligations under Section 8.13 in the form required under Section 4.2(e) of the Option Agreement.
Decommissioning Security. Lessee shall maintain such bond, letter of credit or other security ("Decommissioning Security") securing payment of decommissioning costs for Solar Energy Facilities located on the Property as and to the extent required by applicable governmental authorities in connection with (and as part of) land use and permitting approvals for the Project. If the applicable governmental authority does not require Decommissioning Security, then on the date that is twenty-one (21) years after the Operations Date (the “Bonding Date”), Lessee shall obtain, and maintain in effect for Landowner's benefit throughout the remainder of the Extended Term, Decommissioning Security in an amount equal to the estimated costs of removing the Solar Energy Facilities and restore the Property in accordance with Section 12.3 above. The amount of such costs initially shall be as estimated by a reputable, independent contractor selected by Xxxxxx. From and after the Bonding Date, the amount of Decommissioning Security may be reviewed at Landowner's request every five (5) years. In the event such review indicates that the net decommissioning costs have increased since the Bonding Date, then the amount of the Decommissioning Security will be increased consistent with such revised estimate. The revised estimate will be obtained from a reputable, independent contractor selected by Xxxxxx. The Decommissioning Security shall further be available to Landowner with respect to any failure by Lessee to remediate hazardous materials released on the Property by Lessee, its agents or contractors. [Signature and Acknowledgment Pages Follow]
Decommissioning Security. 10.1 Each Party shall provide Security for its share of Decommissioning Costs (as set out in Clause 9) in accordance with the provisions of this Agreement by not later than the Relevant Date and by not later than [fourteen] days prior to each anniversary thereof.
Decommissioning Security. 10.1 Petrofina shall provide Security for its share of Decommissioning Costs (as set out in Clause 9) in accordance with the provisions of this Agreement by not later than the Relevant Date and by not later than [fourteen] days prior to each anniversary thereof.
Decommissioning Security
