{"component": "clause", "props": {"groups": [{"snippet_links": [{"key": "seller-shall", "type": "clause", "offset": [52, 64]}, {"key": "in-accordance-with", "type": "clause", "offset": [96, 114]}, {"key": "the-following-terms-and-conditions", "type": "clause", "offset": [115, 149]}, {"key": "development-fee", "type": "clause", "offset": [171, 186]}, {"key": "net-contract-capacity", "type": "definition", "offset": [247, 268]}, {"key": "following-the-effective-date", "type": "clause", "offset": [295, 323]}, {"key": "additional-development", "type": "definition", "offset": [343, 365]}, {"key": "at-the-end-of-the", "type": "clause", "offset": [494, 511]}, {"key": "the-development", "type": "clause", "offset": [553, 568]}, {"key": "by-buyer", "type": "clause", "offset": [592, 600]}, {"key": "form-of", "type": "clause", "offset": [621, 628]}, {"key": "cash-deposit", "type": "definition", "offset": [638, 650]}, {"key": "a-letter-of-credit", "type": "definition", "offset": [654, 672]}, {"key": "failure-to-commence", "type": "clause", "offset": [867, 886]}, {"key": "term-start-date", "type": "definition", "offset": [899, 914]}, {"key": "extension-of-the-term", "type": "clause", "offset": [916, 937]}, {"key": "failure-to-meet", "type": "clause", "offset": [950, 965]}, {"key": "subject-to-seller", "type": "definition", "offset": [987, 1004]}, {"key": "right-to-extend", "type": "definition", "offset": [1007, 1022]}, {"key": "exhibit-f", "type": "definition", "offset": [1083, 1092]}, {"key": "a-force-majeure", "type": "definition", "offset": [1111, 1126]}, {"key": "claiming-party", "type": "clause", "offset": [1153, 1167]}, {"key": "subject-to-section", "type": "clause", "offset": [1169, 1187]}, {"key": "not-commence", "type": "clause", "offset": [1212, 1224]}, {"key": "buyer-may", "type": "definition", "offset": [1259, 1268]}, {"key": "if-applicable", "type": "definition", "offset": [1309, 1322]}, {"key": "terminate-this-agreement", "type": "clause", "offset": [1356, 1380]}, {"key": "neither-party-shall", "type": "clause", "offset": [1386, 1405]}, {"key": "liability-for-damages-for", "type": "clause", "offset": [1411, 1436]}, {"key": "failure-to-deliver", "type": "clause", "offset": [1437, 1455]}, {"key": "the-product", "type": "definition", "offset": [1468, 1479]}, {"key": "date-of", "type": "clause", "offset": [1500, 1507]}], "samples": [{"hash": "gvI3vUEhM3", "uri": "/contracts/gvI3vUEhM3#development-security", "label": "Power Purchase and Sale Agreement", "score": 33.0717926025, "published": true}, {"hash": "aFKCusWvHJ1", "uri": "/contracts/aFKCusWvHJ1#development-security", "label": "Power Purchase and Sale Agreement", "score": 32.3053283691, "published": true}, {"hash": "dSAqTrVqsPC", "uri": "/contracts/dSAqTrVqsPC#development-security", "label": "Power Purchase and Sale Agreement", "score": 31.9576816559, "published": true}], "size": 12, "snippet": "If Seller is required to post Development Security, Seller shall post such Development Security in accordance with the following terms and conditions: Seller shall post a development fee (the \u201cDevelopment Security\u201d) in the amount of $20 per kW of Net Contract Capacity on or before the 30th day following the Effective Date. Seller shall post additional Development Security in the amount of $40 per kW of Net Contract Capacity (for a total posted amount of $60 per kW of Development Security) at the end of the 18th month following the Effective Date. The Development Security shall be held by Buyer and shall be in the form of either a cash deposit or a Letter of Credit; and If Seller establishes the Development Security by means of a Letter of Credit, such Letter of Credit shall be substantially in the form of Exhibit P. Forfeiture of Development Security for Failure to Commence Term by the Term Start Date; Extension of the Term Start Date. Failure to Meet the Term Start Date. Subject to Seller\u2019s right to extend the Term Start Date as provided in Section 4(c)(ii) of this Exhibit F or as a result of a Force Majeure as to which Seller is the Claiming Party (subject to Section 5.03), if the Term does not commence on or before the Term Start Date, Buyer may retain the entire Development Security (if applicable) and, if not already terminated, terminate this Agreement, and neither Party shall have liability for damages for failure to deliver or purchase the Product after the effective date of such termination.", "hash": "1769276c5c6df7a4a614e3773b9f5b33", "id": 1}, {"snippet_links": [{"key": "seller-shall", "type": "clause", "offset": [7, 19]}, {"key": "the-performance", "type": "clause", "offset": [25, 40]}, {"key": "during-the-development-period", "type": "clause", "offset": [70, 99]}, {"key": "construction-period", "type": "definition", "offset": [104, 123]}, {"key": "date-of-this-agreement", "type": "clause", "offset": [180, 202]}, {"key": "unconditional-guarantee", "type": "definition", "offset": [223, 246]}, {"key": "acceptable-financial-institution", "type": "definition", "offset": [255, 287]}, {"key": "insert-amount", "type": "clause", "offset": [353, 366]}, {"key": "schedule-b", "type": "clause", "offset": [463, 473]}, {"key": "by-seller", "type": "clause", "offset": [553, 562]}, {"key": "into-effect", "type": "clause", "offset": [598, 609]}, {"key": "bid-security", "type": "definition", "offset": [615, 627]}, {"key": "force-and-effect", "type": "clause", "offset": [644, 660]}, {"key": "days-after", "type": "definition", "offset": [683, 693]}, {"key": "date-of-the-agreement", "type": "definition", "offset": [698, 719]}, {"key": "provision-of-the", "type": "clause", "offset": [735, 751]}, {"key": "to-seller", "type": "definition", "offset": [846, 855]}, {"key": "in-this-agreement", "type": "clause", "offset": [915, 932]}, {"key": "in-the-event", "type": "clause", "offset": [934, 946]}, {"key": "period-of", "type": "definition", "offset": [1012, 1021]}, {"key": "security-and", "type": "clause", "offset": [1095, 1107]}, {"key": "all-rights", "type": "clause", "offset": [1156, 1166]}, {"key": "of-seller", "type": "clause", "offset": [1204, 1213]}, {"key": "arising-out-of", "type": "definition", "offset": [1223, 1237]}, {"key": "mutual-agreement-of-the-parties", "type": "clause", "offset": [1406, 1437]}], "samples": [{"hash": "dGKJ4En3cwo", "uri": "/contracts/dGKJ4En3cwo#development-security", "label": "Energy Supply and Purchase Agreement", "score": 33.1238021851, "published": true}, {"hash": "hz4Dyr3ajCc", "uri": "/contracts/hz4Dyr3ajCc#development-security", "label": "Energy Supply and Purchase Agreement", "score": 32.8359451294, "published": true}], "size": 7, "snippet": "6.1.1. Seller shall, for the performance of its obligations hereunder during the Development Period and Construction Period, provide to CEB no later than 30 (thirty) days from the date of this Agreement, an irrevocable and unconditional guarantee from an Acceptable Financial Institution operating in Mauritius for a sum equivalent to [\u2026\u2026.] MUR [Please insert amount in words] (Amount to be 3 million MUR/ installed MWp capacity) million in the form set forth in Schedule B (\u201cDevelopment Security\u201d). Until such time the Development Security is provided by Seller pursuant hereto and the same comes into effect, the Bid Security shall remain in force and effect up to 45 (forty-five) days after the date of the Agreement, and upon such provision of the Development Security pursuant hereto, CEB shall release the Bid Security without any interest to Seller.\n6.1.2. Notwithstanding anything to the contrary contained in this Agreement, in the event that the Development Security is not provided by Seller within a period of 30 (thirty) days from the date of this Agreement, CEB may encash the Bid Security and appropriate the proceeds thereof, and thereupon all rights, privileges, claims and entitlements of Seller under or arising out of this Agreement shall be deemed to have been waived by, and to have ceased with the concurrence of Seller, and this Agreement shall be deemed to have been terminated by mutual agreement of the Parties.", "hash": "814e114c3fd683f6134f3539134ae07f", "id": 2}, {"snippet_links": [{"key": "the-definition", "type": "definition", "offset": [34, 48]}, {"key": "power-purchase-agreement", "type": "clause", "offset": [66, 90]}], "samples": [{"hash": "c8oy13JESvi", "uri": "/contracts/c8oy13JESvi#development-security", "label": "Agency Agreement", "score": 31.8327789307, "published": true}, {"hash": "5rE4AVjqCQm", "uri": "/contracts/5rE4AVjqCQm#development-security", "label": "Power Sales Agreement", "score": 31.3390369415, "published": true}, {"hash": "lLHg3ZEIpDU", "uri": "/contracts/lLHg3ZEIpDU#development-security", "label": "Agency Agreement", "score": 30.3053283691, "published": true}], "size": 6, "snippet": "\u201cDevelopment Security\u201d shall have the definition set forth in the Power Purchase Agreement.", "hash": "aa77b203de28699bba37e43119c72c37", "id": 3}, {"snippet_links": [{"key": "seller-shall", "type": "clause", "offset": [0, 12]}, {"key": "in-accordance-with", "type": "clause", "offset": [44, 62]}, {"key": "the-following-terms-and-conditions", "type": "clause", "offset": [63, 97]}, {"key": "development-fee", "type": "clause", "offset": [123, 138]}, {"key": "contract-capacity", "type": "clause", "offset": [216, 233]}, {"key": "following-the-effective-date", "type": "clause", "offset": [260, 288]}, {"key": "the-development", "type": "clause", "offset": [290, 305]}, {"key": "by-buyer", "type": "clause", "offset": [329, 337]}, {"key": "form-of", "type": "clause", "offset": [358, 365]}, {"key": "cash-deposit", "type": "definition", "offset": [375, 387]}, {"key": "a-letter-of-credit", "type": "definition", "offset": [391, 409]}], "samples": [{"hash": "jZ4lw94uEg4", "uri": "/contracts/jZ4lw94uEg4#development-security", "label": "Power Purchase and Sale Agreement", "score": 25.6447639465, "published": true}, {"hash": "c8S3NvgrfBZ", "uri": "/contracts/c8S3NvgrfBZ#development-security", "label": "Power Purchase and Sale Agreement", "score": 23.1981067657, "published": true}, {"hash": "c9IYT299g81", "uri": "/contracts/c9IYT299g81#development-security", "label": "Power Purchase and Sale Agreement", "score": 22.2947750092, "published": true}], "size": 5, "snippet": "Seller shall post such Development Security in accordance with the following terms and conditions:\n(i) Seller shall post a development fee (the \u201cDevelopment Security\u201d) in the amount of $20 per kW of the As-Available Contract Capacity on or before the 30th day following the Effective Date. The Development Security shall be held by Buyer and shall be in the form of either a cash deposit or a Letter of Credit; and\n(ii) If Seller establishes the Development Security by means of a Letter of Credit, such Letter of Credit shall be substantially in the form of Exhibit L.", "hash": "ce3a3ccc8d86646f3cfe971e9edd1032", "id": 4}, {"snippet_links": [{"key": "the-facility", "type": "definition", "offset": [3, 15]}, {"key": "seller-shall", "type": "clause", "offset": [77, 89]}, {"key": "equal-to", "type": "definition", "offset": [140, 148]}, {"key": "nominal-contract-value", "type": "definition", "offset": [173, 195]}, {"key": "execution-of-this-agreement", "type": "clause", "offset": [201, 228]}, {"key": "the-development", "type": "clause", "offset": [230, 245]}, {"key": "by-company", "type": "clause", "offset": [269, 279]}, {"key": "seller-meeting", "type": "clause", "offset": [296, 310]}, {"key": "milestone-schedule", "type": "clause", "offset": [366, 384]}, {"key": "section-43", "type": "clause", "offset": [400, 411]}, {"key": "form-of", "type": "clause", "offset": [454, 461]}, {"key": "cash-deposit", "type": "definition", "offset": [471, 483]}, {"key": "a-letter-of-credit", "type": "definition", "offset": [487, 505]}, {"key": "section-64", "type": "clause", "offset": [525, 536]}, {"key": "disposition-of", "type": "clause", "offset": [576, 590]}, {"key": "date-established", "type": "definition", "offset": [718, 734]}, {"key": "on-the-effective-date", "type": "clause", "offset": [735, 756]}, {"key": "to-seller", "type": "definition", "offset": [808, 817]}, {"key": "upon-seller", "type": "clause", "offset": [818, 829]}, {"key": "credit-support", "type": "definition", "offset": [843, 857]}, {"key": "article-6", "type": "clause", "offset": [889, 898]}, {"key": "section-44", "type": "clause", "offset": [990, 1001]}, {"key": "period-of", "type": "definition", "offset": [1008, 1017]}, {"key": "days-or-less", "type": "clause", "offset": [1021, 1033]}, {"key": "extended-date", "type": "definition", "offset": [1101, 1114]}, {"key": "a-portion", "type": "definition", "offset": [1149, 1158]}, {"key": "number-of", "type": "definition", "offset": [1246, 1255]}, {"key": "calendar-days", "type": "clause", "offset": [1256, 1269]}, {"key": "the-original", "type": "clause", "offset": [1323, 1335]}, {"key": "not-to-exceed", "type": "definition", "offset": [1363, 1376]}, {"key": "divided-by", "type": "clause", "offset": [1386, 1396]}, {"key": "section-45", "type": "clause", "offset": [1665, 1676]}, {"key": "ratio-of", "type": "clause", "offset": [1835, 1843]}, {"key": "contract-amount", "type": "definition", "offset": [1856, 1871]}, {"key": "resulting-from-the", "type": "clause", "offset": [1872, 1890]}, {"key": "original-contract", "type": "definition", "offset": [1907, 1924]}, {"key": "kept-by", "type": "definition", "offset": [2048, 2055]}, {"key": "to-the-seller", "type": "definition", "offset": [2946, 2959]}, {"key": "section-61", "type": "clause", "offset": [2971, 2982]}, {"key": "within-thirty", "type": "clause", "offset": [3005, 3018]}, {"key": "business-days-of", "type": "clause", "offset": [3024, 3040]}, {"key": "interest-paid", "type": "clause", "offset": [3096, 3109]}, {"key": "security-requirements", "type": "definition", "offset": [3151, 3172]}, {"key": "cash-to-company", "type": "clause", "offset": [3186, 3201]}, {"key": "section-66", "type": "clause", "offset": [3252, 3263]}, {"key": "in-the-event-the", "type": "clause", "offset": [3265, 3281]}, {"key": "pursuant-to-section", "type": "definition", "offset": [3355, 3374]}, {"key": "terminate-this-agreement", "type": "clause", "offset": [3392, 3416]}, {"key": "section-91", "type": "definition", "offset": [3429, 3440]}, {"key": "days-after", "type": "definition", "offset": [3552, 3562]}, {"key": "the-agreement", "type": "clause", "offset": [3593, 3606]}, {"key": "further-extension", "type": "clause", "offset": [3630, 3647]}, {"key": "by-the-parties", "type": "clause", "offset": [3670, 3684]}, {"key": "the-parties-acknowledge-and-agree-that", "type": "clause", "offset": [3686, 3724]}, {"key": "to-determine", "type": "definition", "offset": [3755, 3767]}, {"key": "amount-of-damages", "type": "clause", "offset": [3787, 3804]}, {"key": "to-operate", "type": "definition", "offset": [3884, 3894]}, {"key": "agreed-by", "type": "clause", "offset": [3960, 3969]}, {"key": "failure-of-seller", "type": "clause", "offset": [4019, 4036]}, {"key": "actual-damages", "type": "clause", "offset": [4127, 4141]}, {"key": "this-article", "type": "definition", "offset": [4219, 4231]}, {"key": "nature-of-liquidated-damages", "type": "clause", "offset": [4245, 4273]}, {"key": "not-a-penalty", "type": "clause", "offset": [4279, 4292]}, {"key": "fair-and-reasonable", "type": "clause", "offset": [4302, 4321]}, {"key": "reasonable-estimate", "type": "clause", "offset": [4357, 4376]}, {"key": "compensation-for-the", "type": "clause", "offset": [4385, 4405]}, {"key": "available-under", "type": "clause", "offset": [4495, 4510]}, {"key": "of-the-seller", "type": "clause", "offset": [4576, 4589]}, {"key": "article-4", "type": "definition", "offset": [4682, 4691]}], "samples": [{"hash": "9RSPrv69OWM", "uri": "/contracts/9RSPrv69OWM#development-security", "label": "Solar Alternative Energy Credits Sale and Purchase Agreement", "score": 29.9220962524, "published": true}, {"hash": "7KAZeDg2hMS", "uri": "/contracts/7KAZeDg2hMS#development-security", "label": "Solar Alternative Energy Credits Sale and Purchase Agreement", "score": 29.8591365814, "published": true}], "size": 4, "snippet": "If the Facility has not achieved Commercial Operation by the Effective Date, Seller shall post and thereafter maintain development security equal to two percent (2%) of the Nominal Contract Value upon execution of this Agreement. The Development Security shall be held by COMPANY as security for Seller meeting the Commercial Operation Date or any other Significant Milestone Schedule as provided in Section 4.3. The Development Security shall be in the form of either a cash deposit or a Letter of Credit as provided for in Section 6.4. The following provisions shall govern disposition of the Development Security: In the event that the Facility achieves Commercial Operation on or prior to the Commercial Operation Date established on the Effective Date, the entire Development Security shall be returned to Seller upon Seller\u2019s posting of credit support as further discussed herein in Article 6. In the event that the Commercial Operation Date is extended pursuant to the provisions of Section 4.4 for a period of 30 days or less and the Facility achieves Commercial Operation on or prior to such extended date, Seller shall be entitled only to a portion of the Development Security equal to the Development Security, multiplied by (1 \u2013 (the number of calendar days that the Commercial Operation Date is delayed beyond the original Commercial Operation Date, not to exceed 30 days) divided by 180). The portion of the Development Security retained by COMPANY shall be kept as liquidated damages. In the event that the Commercial Operation Date is not extended pursuant to the provisions of Section 4.4, but the Facility is resized pursuant to the provisions of Section 4.5, Seller shall be entitled only to a portion of the Development Security equal to (i) two percent (2%) times the Nominal Contract Value multiplied by (ii) the ratio of the revised Contract Amount resulting from the resizing to the original Contract Amount prior to the resizing, provided such ratio does not exceed 100%. The remainder of the Development Security shall be kept by COMPANY as liquidated damages. In the event that the Commercial Operation Date is extended pursuant to the provisions of Section 4.4 for a period of 30 days or less and the Seller meets such extended date but the Facility is resized pursuant to the provisions of Section 4.5, Seller shall be entitled only to a portion of the Development Security equal to (i) two percent (2%) times the Nominal Contract Value multiplied by (ii) the ratio of the revised Contract Amount resulting from the resizing to the original Contract Amount prior to the resizing multiplied by (iii) (1 \u2013 (the number of calendar days that the Commercial Operation Date is delayed beyond the original Commercial Operation Date, not to exceed 30 days) divided by 180). The remainder of the Development Security shall be kept by COMPANY as liquidated damages. If some or all of the Development Security is to be returned to the Seller under this Section 6.1, it shall be returned within thirty (30) Business Days of the achievement of the Commercial Operation Date, with interest paid only if Seller satisfied the Development Security requirements by providing Cash to COMPANY. Such interest shall be calculated as provided in Section 6.6. In the event the Seller fails to obtain the Commercial Operation Date, as may be extended pursuant to Section 4.4, COMPANY may terminate this Agreement pursuant to Section 9.1 and retain the entire Development Security. In any event if Seller fails to achieve Commercial Operation by 30 days after the Commercial Operation Date the Agreement shall terminate unless further extension is mutually agreed to by the Parties. The Parties acknowledge and agree that it is difficult or impossible to determine with precision the amount of damages that would or might be incurred by COMPANY as a result of the Facility failing to operate by the Commercial Operation Date Milestone. It is understood and agreed by the Parties that (a) COMPANY shall be damaged by failure of Seller to meet such obligations, (b) it would be impracticable or extremely difficult to fix the actual damages resulting therefrom, (c) any sums which would be creditable or payable under this Article 6 are in the nature of liquidated damages, and not a penalty, and are fair and reasonable, and (d) each payment represents a reasonable estimate of fair compensation for the losses that may reasonably be anticipated from each such failure. The liquidated damages available under this Section shall constitute COMPANY\u2019s sole damages for failure of the Seller to achieve the Commercial Operation Date or for any resizing of the Facility as provided in Article 4.", "hash": "9647b7cda99e1ca390ff42fa5a2282fb", "id": 5}, {"snippet_links": [{"key": "condition-of", "type": "clause", "offset": [5, 17]}, {"key": "obligations-under-this-agreement", "type": "clause", "offset": [53, 85]}, {"key": "developer-shall", "type": "clause", "offset": [87, 102]}, {"key": "the-performance", "type": "clause", "offset": [136, 151]}, {"key": "prior-to-the", "type": "clause", "offset": [189, 201]}, {"key": "outside-commercial-operation-date", "type": "definition", "offset": [202, 235]}, {"key": "cash-deposit", "type": "definition", "offset": [238, 250]}, {"key": "the-development", "type": "clause", "offset": [281, 296]}, {"key": "the-deposit", "type": "clause", "offset": [328, 339]}, {"key": "control-account", "type": "definition", "offset": [340, 355]}, {"key": "after-the-effective-date", "type": "clause", "offset": [386, 410]}, {"key": "right-to-draw", "type": "clause", "offset": [432, 445]}, {"key": "sole-discretion", "type": "clause", "offset": [487, 502]}, {"key": "a-non", "type": "clause", "offset": [511, 516]}, {"key": "exclusive-remedy", "type": "definition", "offset": [517, 533]}, {"key": "available-to", "type": "definition", "offset": [534, 546]}, {"key": "termination-by", "type": "definition", "offset": [586, 600]}, {"key": "in-the-event", "type": "clause", "offset": [615, 627]}, {"key": "fails-to-pay", "type": "clause", "offset": [721, 733]}, {"key": "delay-liquidated-damages", "type": "definition", "offset": [734, 758]}, {"key": "expiration-of", "type": "clause", "offset": [868, 881]}, {"key": "notice-and-cure-periods", "type": "clause", "offset": [893, 916]}, {"key": "to-reimburse", "type": "definition", "offset": [945, 957]}, {"key": "failure-to-perform", "type": "clause", "offset": [1036, 1054]}, {"key": "unless-this-agreement", "type": "clause", "offset": [1093, 1114]}, {"key": "obligation-of-developer", "type": "clause", "offset": [1205, 1228]}, {"key": "required-amount", "type": "definition", "offset": [1274, 1289]}, {"key": "business-days-of", "type": "clause", "offset": [1307, 1323]}], "samples": [{"hash": "cbRLB3AtVeM", "uri": "/contracts/cbRLB3AtVeM#development-security", "label": "Solar Power Purchase and Development Agreement", "score": 34.9618453979, "published": true}, {"hash": "b9NQ8jBPlFg", "uri": "/contracts/b9NQ8jBPlFg#development-security", "label": "Solar Power Purchase and Development Agreement", "score": 32.9496269226, "published": true}], "size": 2, "snippet": "As a condition of CVEC\u2019s execution of and continuing obligations under this Agreement, Developer shall provide to CVEC, as security for the performance of Developer\u2019s obligations hereunder prior to the Outside Commercial Operation Date a cash deposit (the \u201cDevelopment Security\u201d). The Development Security shall be deposited in the Deposit Control Account within five (5) Business Days after the Effective Date. CVEC shall have the right to draw upon the Development Security, at CVEC\u2019s sole discretion: (i) as a non-exclusive remedy available to CVEC under Section 2.4(b) \u2013 (f) (Early Termination by CVEC; or (ii) in the event Developer fails to achieve Commercial Operation by the Outside Commercial Operation Date and fails to pay Delay Liquidated Damages as provided in Section 3.11.; (iii) if Developer fails to make any payments owing under this Agreement after expiration of applicable notice and cure periods; or (iv) if Developer fails to reimburse CVEC for costs that CVEC has incurred or may incur as a result of Developer\u2019s failure to perform its obligations under this Agreement. Unless this Agreement is terminated, any such drawing on the Development Security by CVEC shall give rise to an obligation of Developer to replenish the Development Security to its required amount within three (3) Business Days of the drawing.", "hash": "b35f8c9744cd804f7d046164d2bfb188", "id": 6}, {"snippet_links": [{"key": "seller-shall", "type": "clause", "offset": [0, 12]}, {"key": "in-accordance-with", "type": "clause", "offset": [44, 62]}, {"key": "the-following-terms-and-conditions", "type": "clause", "offset": [63, 97]}, {"key": "development-fee", "type": "clause", "offset": [119, 134]}, {"key": "contract-capacity", "type": "clause", "offset": [212, 229]}, {"key": "following-the-effective-date", "type": "clause", "offset": [256, 284]}, {"key": "the-development", "type": "clause", "offset": [286, 301]}, {"key": "by-buyer", "type": "clause", "offset": [325, 333]}, {"key": "form-of", "type": "clause", "offset": [354, 361]}, {"key": "cash-deposit", "type": "definition", "offset": [371, 383]}, {"key": "a-letter-of-credit", "type": "definition", "offset": [387, 405]}, {"key": "failure-to-commence", "type": "clause", "offset": [600, 619]}, {"key": "term-start-date", "type": "definition", "offset": [632, 647]}, {"key": "extension-of-the-term", "type": "clause", "offset": [649, 670]}, {"key": "failure-to-meet", "type": "clause", "offset": [683, 698]}, {"key": "subject-to-seller", "type": "definition", "offset": [720, 737]}, {"key": "right-to-extend", "type": "definition", "offset": [740, 755]}, {"key": "exhibit-d", "type": "definition", "offset": [816, 825]}, {"key": "a-force-majeure", "type": "definition", "offset": [844, 859]}, {"key": "claiming-party", "type": "clause", "offset": [886, 900]}, {"key": "subject-to-section", "type": "clause", "offset": [902, 920]}, {"key": "not-commence", "type": "clause", "offset": [945, 957]}, {"key": "buyer-may", "type": "definition", "offset": [992, 1001]}, {"key": "if-applicable", "type": "definition", "offset": [1042, 1055]}, {"key": "terminate-this-agreement", "type": "clause", "offset": [1089, 1113]}, {"key": "neither-party-shall", "type": "clause", "offset": [1119, 1138]}, {"key": "liability-for-damages-for", "type": "clause", "offset": [1144, 1169]}, {"key": "failure-to-deliver", "type": "clause", "offset": [1170, 1188]}, {"key": "the-product", "type": "definition", "offset": [1201, 1212]}, {"key": "date-of", "type": "clause", "offset": [1233, 1240]}], "samples": [{"hash": "hRGqkwt7bjO", "uri": "/contracts/hRGqkwt7bjO#development-security", "label": "Power Purchase and Sale Agreement", "score": 32.3053283691, "published": true}, {"hash": "48RAA4lCsoL", "uri": "/contracts/48RAA4lCsoL#development-security", "label": "Power Purchase and Sale Agreement", "score": 32.3053283691, "published": true}], "size": 2, "snippet": "Seller shall post such Development Security in accordance with the following terms and conditions: Seller shall post a development fee (the \u201cDevelopment Security\u201d) in the amount of $20 per kW of the As-Available Contract Capacity on or before the 30th day following the Effective Date. The Development Security shall be held by Buyer and shall be in the form of either a cash deposit or a Letter of Credit; and If Seller establishes the Development Security by means of a Letter of Credit, such Letter of Credit shall be substantially in the form of Exhibit L. Forfeiture of Development Security for Failure to Commence Term by the Term Start Date; Extension of the Term Start Date. Failure to Meet the Term Start Date. Subject to Seller\u2019s right to extend the Term Start Date as provided in Section 4(c)(ii) of this Exhibit D or as a result of a Force Majeure as to which Seller is the Claiming Party (subject to Section 5.03), if the Term does not commence on or before the Term Start Date, Buyer may retain the entire Development Security (if applicable) and, if not already terminated, terminate this Agreement, and neither Party shall have liability for damages for failure to deliver or purchase the Product after the effective date of such termination.", "hash": "11af1843f8f99dc04bf81b8d0edc6ce5", "id": 7}, {"snippet_links": [{"key": "after-the-effective-date", "type": "clause", "offset": [40, 64]}, {"key": "seller-shall", "type": "clause", "offset": [66, 78]}, {"key": "buyer-security", "type": "clause", "offset": [90, 104]}, {"key": "for-seller", "type": "definition", "offset": [105, 115]}, {"key": "obligations-under-this-agreement", "type": "clause", "offset": [118, 150]}, {"key": "commercial-operation-date", "type": "definition", "offset": [181, 206]}, {"key": "by-seller", "type": "clause", "offset": [331, 340]}, {"key": "letters-of-credit", "type": "definition", "offset": [359, 376]}, {"key": "issued-by", "type": "clause", "offset": [377, 386]}, {"key": "qualified-issuers", "type": "clause", "offset": [387, 404]}, {"key": "similar-to", "type": "definition", "offset": [429, 439]}, {"key": "appendix-i", "type": "definition", "offset": [440, 450]}, {"key": "qualified-guarantor", "type": "definition", "offset": [475, 494]}, {"key": "appendix-j", "type": "clause", "offset": [530, 540]}, {"key": "provided-that", "type": "clause", "offset": [576, 589]}, {"key": "the-total", "type": "clause", "offset": [590, 599]}, {"key": "the-development", "type": "clause", "offset": [603, 618]}, {"key": "performance-security", "type": "clause", "offset": [778, 798]}, {"key": "pursuant-to-section", "type": "definition", "offset": [799, 818]}], "samples": [{"hash": "26ceXQ83ahB", "uri": "/contracts/26ceXQ83ahB#development-security", "label": "Power Purchase Agreement", "score": 26.6696338654, "published": true}], "size": 2, "snippet": "No later than twenty (20) Business Days after the Effective Date, Seller shall deliver to Buyer security for Seller\u2019s obligations under this Agreement before the achievement of the Commercial Operation Date (the \u201cDevelopment Security\u201d). Development Security may be provided in any one or more of the following forms (as determined by Seller): (i) one or more letters of credit issued by Qualified Issuers in a form substantially similar to Appendix I, (ii) a guaranty from a Qualified Guarantor in a form substantially similar to Appendix J, or (iii) any combination thereof; provided that the total of the Development Security shall equal three million seven hundred fifty thousand dollars ($3,750,000). Seller shall maintain the Development Security until Seller delivers the Performance Security pursuant to Section 5.3(c), or until Buyer is required to return the Development Security under Section 5.3(d) below.", "hash": "d4d92c520d7a76209f3de77641c0dfd0", "id": 8}, {"snippet_links": [{"key": "seller-shall", "type": "clause", "offset": [53, 65]}, {"key": "a-security-deposit", "type": "clause", "offset": [83, 101]}, {"key": "in-any-form", "type": "definition", "offset": [131, 142]}, {"key": "section-43", "type": "clause", "offset": [156, 167]}, {"key": "the-development", "type": "clause", "offset": [169, 184]}, {"key": "after-the-effective-date", "type": "clause", "offset": [282, 306]}, {"key": "after-receipt-of", "type": "clause", "offset": [326, 342]}, {"key": "the-orders", "type": "clause", "offset": [343, 353]}, {"key": "equal-to", "type": "definition", "offset": [457, 465]}, {"key": "the-product", "type": "definition", "offset": [466, 477]}, {"key": "before-december", "type": "clause", "offset": [560, 575]}, {"key": "day-of", "type": "clause", "offset": [612, 618]}, {"key": "an-additional", "type": "clause", "offset": [671, 684]}, {"key": "total-amount", "type": "definition", "offset": [838, 850]}, {"key": "by-seller", "type": "clause", "offset": [884, 893]}, {"key": "by-june", "type": "clause", "offset": [903, 910]}, {"key": "to-ensure", "type": "clause", "offset": [1119, 1128]}, {"key": "actual-commercial-operation-date", "type": "definition", "offset": [1138, 1170]}, {"key": "scheduled-commercial-operation-date", "type": "definition", "offset": [1189, 1224]}, {"key": "if-applicable", "type": "definition", "offset": [1278, 1291]}, {"key": "interest-bearing", "type": "definition", "offset": [1353, 1369]}, {"key": "escrow-account", "type": "clause", "offset": [1370, 1384]}, {"key": "seller-will", "type": "clause", "offset": [1386, 1397]}, {"key": "responsible-for", "type": "clause", "offset": [1401, 1416]}, {"key": "payment-of", "type": "definition", "offset": [1421, 1431]}, {"key": "state-or-local-taxes", "type": "clause", "offset": [1453, 1473]}, {"key": "fees-of-the-escrow-agent", "type": "clause", "offset": [1511, 1535]}, {"key": "at-seller", "type": "definition", "offset": [1537, 1546]}, {"key": "fails-to-pay", "type": "clause", "offset": [1592, 1604]}, {"key": "escrow-fees", "type": "definition", "offset": [1623, 1634]}, {"key": "interest-on-the", "type": "clause", "offset": [1653, 1668]}, {"key": "time-payment", "type": "clause", "offset": [1707, 1719]}, {"key": "to-seller", "type": "definition", "offset": [1904, 1913]}, {"key": "provisions-of-this-agreement", "type": "clause", "offset": [1928, 1956]}, {"key": "for-any-reason", "type": "clause", "offset": [2129, 2143]}, {"key": "right-to-terminate-this-agreement", "type": "clause", "offset": [2193, 2226]}, {"key": "notice-of", "type": "clause", "offset": [2260, 2269]}, {"key": "in-the-event", "type": "clause", "offset": [2298, 2310]}, {"key": "agreement-to-terminate", "type": "clause", "offset": [2361, 2383]}, {"key": "prior-to-the", "type": "clause", "offset": [2399, 2411]}, {"key": "section-153", "type": "clause", "offset": [2507, 2519]}, {"key": "liquidated-damages", "type": "clause", "offset": [2580, 2598]}, {"key": "the-case", "type": "definition", "offset": [2691, 2699]}, {"key": "within-thirty", "type": "clause", "offset": [2718, 2731]}, {"key": "pursuant-to-subsection", "type": "clause", "offset": [2801, 2823]}, {"key": "if-seller-terminates", "type": "clause", "offset": [2850, 2870]}, {"key": "to-the-seller", "type": "definition", "offset": [3173, 3186]}, {"key": "date-of", "type": "clause", "offset": [3221, 3228]}, {"key": "subject-to-the", "type": "definition", "offset": [3247, 3261]}, {"key": "payment-to", "type": "clause", "offset": [3268, 3278]}, {"key": "all-amounts-due", "type": "clause", "offset": [3288, 3303]}, {"key": "section-44", "type": "clause", "offset": [3319, 3330]}, {"key": "either-party-may-terminate", "type": "clause", "offset": [3336, 3362]}, {"key": "notice-to-the", "type": "clause", "offset": [3401, 3414]}, {"key": "other-party", "type": "clause", "offset": [3415, 3426]}, {"key": "by-september", "type": "clause", "offset": [3485, 3497]}, {"key": "entered-into", "type": "clause", "offset": [3527, 3539]}, {"key": "letter-of-intent", "type": "clause", "offset": [3542, 3558]}, {"key": "gas-transmission", "type": "definition", "offset": [3573, 3589]}, {"key": "firm-transportation", "type": "definition", "offset": [3606, 3625]}, {"key": "cubic-feet", "type": "definition", "offset": [3642, 3652]}, {"key": "natural-gas", "type": "definition", "offset": [3656, 3667]}, {"key": "per-day", "type": "clause", "offset": [3668, 3675]}, {"key": "west-virginia", "type": "clause", "offset": [3692, 3705]}, {"key": "an-interconnection", "type": "clause", "offset": [3709, 3727]}, {"key": "the-term-of-this-agreement", "type": "clause", "offset": [3784, 3810]}, {"key": "transportation-of-a", "type": "clause", "offset": [3871, 3890]}, {"key": "the-facility", "type": "definition", "offset": [3974, 3986]}, {"key": "as-specified", "type": "clause", "offset": [3988, 4000]}, {"key": "agreement-or", "type": "definition", "offset": [4169, 4181]}, {"key": "in-lieu", "type": "clause", "offset": [4183, 4190]}, {"key": "a-third-party", "type": "clause", "offset": [4237, 4250]}, {"key": "transportation-agreement", "type": "clause", "offset": [4336, 4360]}, {"key": "operation-of", "type": "clause", "offset": [4614, 4626]}, {"key": "transmission-facilities", "type": "definition", "offset": [4627, 4650]}, {"key": "located-in", "type": "definition", "offset": [4724, 4734]}, {"key": "the-transmission", "type": "clause", "offset": [4818, 4834]}, {"key": "owned-by", "type": "definition", "offset": [4859, 4867]}, {"key": "as-of-the-effective-date", "type": "clause", "offset": [4874, 4898]}, {"key": "if-either-party", "type": "clause", "offset": [4900, 4915]}, {"key": "this-subsection", "type": "definition", "offset": [4954, 4969]}, {"key": "neither-party-shall", "type": "clause", "offset": [4978, 4997]}, {"key": "further-liability", "type": "clause", "offset": [5007, 5024]}, {"key": "april-1", "type": "definition", "offset": [5452, 5459]}, {"key": "by-april", "type": "clause", "offset": [5470, 5478]}, {"key": "gas-reserves", "type": "definition", "offset": [5592, 5604]}, {"key": "the-limited", "type": "definition", "offset": [5613, 5624]}, {"key": "the-provisions-of-this", "type": "clause", "offset": [5718, 5740]}, {"key": "remaining-portion", "type": "definition", "offset": [6309, 6326]}], "samples": [{"hash": "3yq6nMDFbaQ", "uri": "/contracts/3yq6nMDFbaQ#development-security", "label": "Power Purchase Agreement (Panda Interfunding Corp)", "score": 18.0, "published": true}], "size": 1, "snippet": "(a) At the times and in the amounts set forth below, Seller shall provide to PEPCO a security deposit (the \"Development Security\") in any form set forth in Section 4.3. The Development Security shall be provided as follows:\n(i) Within the later of one hundred and twenty (120) Days after the Effective Date or sixty (60) Days after receipt of the orders required under Subsection 3.1\n(a) (i), one million one hundred fifty thousand dollars ($1,150,000.00) (equal to the product of five dollars ($5.00) per kilowatt multiplied by 230,000 kilowatts); (ii) On or before December 1, 1993, and on or before the first Day of every second Month thereafter through June 1, 1995, an additional two hundred thirty thousand dollars ($230,000.00) (equal to the product of one dollar ($1.00) per kilowatt multiplied by 230,000 kilowatts), so that the total amount of Development Security provided by Seller to PEPCO by June 1, 1995 shall equal three million four hundred fifty thousand dollars ($3,450,000.00) (equal to the product of fifteen dollars ($15) per kilowatt multiplied by 230,000 kilowatts). The Development Security is to ensure that the Actual Commercial Operation Date will occur by the Scheduled Commercial Operation Date or the Extended Scheduled Commercial Operation Date, if applicable. PEPCO will hold cash provided as Development Security in an interest bearing escrow account. Seller will be responsible for the payment of any and all federal, state or local taxes imposed on any such interest and any fees of the escrow agent. At Seller's election (or at PEPCO's election if Seller fails to pay any such taxes or escrow fees), any accumulated interest on the Development Security remaining at the time payment of any such taxes or escrow fees is due may be used to pay such taxes or escrow fees, thereby reducing the amount of accumulated interest that would be available for return or release to Seller under various provisions of this Agreement.\n(b) If the Actual Commercial Operation Date does not occur by the Scheduled Commercial Operation Date, or the Extended Scheduled Commercial Operation Date, if applicable, for any reason other than PEPCO's default, PEPCO shall have the right to terminate this Agreement immediately by providing written notice of such termination to Seller. In the event that PEPCO exercises any of its rights under this Agreement to terminate this Agreement prior to the Actual Commercial Operation Date, except for its right to terminate under Subsection 3.1(e) or Section 15.3, PEPCO may draw upon and retain the Development Security as liquidated damages and any interest accumulated on such Development Security shall be returned or released, as the case may be, to Seller within thirty (30) Days after such termination. If PEPCO terminates this Agreement pursuant to Subsection 3.1(e) or Section 15.3 or if Seller terminates this Agreement prior to the Scheduled Commercial Operation Date, or the Extended Scheduled Commercial Operation Date, if applicable, due to PEPCO's default, any remaining Development Security, and the accumulated interest on the Development Security, shall be returned or released, as the case may be, to the Seller within thirty (30) Days after the date of such termination, subject to the prior payment to PEPCO of all amounts due to PEPCO under Section 4.4.\n(c) Either Party may terminate this Agreement immediately by written notice to the other Party given within thirty (30) Days after September 1, 1993, if by September 1, 1993, Seller has not: (i) entered into a letter of intent with Columbia Gas Transmission Corporation for firm transportation of 23.7 million cubic feet of natural gas per day from Broad Run, West Virginia to an interconnection with the Columbia LNG pipeline at Loudoun, Virginia for the Term of this Agreement, (ii) entered into a letter of intent with Columbia LNG for transportation of a sufficient volume of natural gas per day to fuel the four (4) dispatch segments of the Facility (as specified in Subsection 6.2(b)(i)) from an interconnection with the Columbia Gas Transmission Corporation pipeline at Loudoun, Virginia to Waldorf, Maryland for the Term of this Agreement or, in lieu thereof, entered into a letter of intent with a third party whereby such third party will include Seller's gas under its existing or replacement transportation agreement with Columbia LNG, or as part of such third party's letter of intent with Columbia LNG, for transportation to Waldorf, Maryland, and (iii) entered into a letter of intent with Conrail (Consolidated Rail Corporation) for an easement for construction and operation of Transmission Facilities for the Term of this Agreement on that portion of Conrail's right-of-way located in Prince George's County, Maryland that extends from the Facility to that portion of the Transmission Facilities Site that is owned by PEPCO as of the Effective Date. If either Party terminates this Agreement pursuant to this Subsection 4.1(c), neither Party shall have any further liability to the other Party, except that PEPCO may retain the Development Security as liquidated damages for such termination, and the accumulated interest on the Development Security shall be returned or released, as the case may be, to Seller within thirty (30) Days after the date of such termination.\n(d) Either Party may terminate this Agreement immediately by written notice to the other Party given within thirty (30) Days after April 1, 1994, if by April 1, 1994, Seller has not provided evidence reasonably satisfactory to PEPCO demonstrating that sufficient natural gas reserves to fuel the Limited Dispatch Portion are available for purchase by Panda at prices that are economic in light of the provisions of this Agreement. If either Party terminates this Agreement pursuant to this Subsection 4.1(d), neither Party shall have any further liability to the other Party, except that PEPCO may retain the Development Security as liquidated damages for such termination, and the accumulated interest on the Development Security shall be returned or released, as the case may be, to Seller within thirty (30) Days after the date of such termination.\n(e) Within thirty (30) Days after the Actual Commercial Operation Date, PEPCO will return or release, as the case may be, to Seller the remaining portion of the Development Security against which PEPCO does not assert a claim, with any accumulated interest thereon.", "hash": "79c46c2479479322688e1abaf66abf3e", "id": 9}, {"snippet_links": [{"key": "to-secure", "type": "clause", "offset": [0, 9]}, {"key": "obligations-under-this-agreement", "type": "clause", "offset": [14, 46]}, {"key": "seller-shall", "type": "clause", "offset": [48, 60]}, {"key": "to-buyer", "type": "definition", "offset": [90, 98]}, {"key": "business-days-of", "type": "clause", "offset": [115, 131]}, {"key": "the-effective-date", "type": "clause", "offset": [132, 150]}, {"key": "the-development", "type": "clause", "offset": [174, 189]}, {"key": "full-force-and-effect", "type": "definition", "offset": [202, 223]}, {"key": "no-obligation-to-replenish", "type": "clause", "offset": [252, 278]}, {"key": "in-the-event", "type": "clause", "offset": [304, 316]}, {"key": "for-any-reason", "type": "clause", "offset": [386, 400]}, {"key": "performance-security", "type": "clause", "offset": [482, 502]}, {"key": "termination-of-this-agreement", "type": "clause", "offset": [534, 563]}, {"key": "to-seller", "type": "definition", "offset": [609, 618]}, {"key": "in-accordance-with", "type": "clause", "offset": [643, 661]}, {"key": "a-letter-of-credit", "type": "definition", "offset": [709, 727]}, {"key": "the-issuer", "type": "clause", "offset": [732, 742]}, {"key": "to-maintain", "type": "clause", "offset": [778, 789]}, {"key": "minimum-credit-rating", "type": "clause", "offset": [794, 815]}, {"key": "the-definition-of", "type": "definition", "offset": [829, 846]}, {"key": "prior-to-the-commercial-operation-date", "type": "clause", "offset": [960, 998]}, {"key": "substitute-letter-of-credit", "type": "clause", "offset": [1183, 1210]}, {"key": "equal-to", "type": "definition", "offset": [1224, 1232]}, {"key": "meets-the-requirements", "type": "definition", "offset": [1292, 1314]}], "samples": [{"hash": "9JxDoSeC95", "uri": "/contracts/9JxDoSeC95#development-security", "label": "Resource Adequacy Agreement", "score": 33.0907821655, "published": true}], "size": 1, "snippet": "To secure its obligations under this Agreement, Seller shall deliver Development Security to Buyer within ten (10) business days of the Effective Date. Seller shall maintain the Development Security in full force and effect; provided Seller shall have no obligation to replenish the Development Security in the event Buyer collects or draws down any portion of the Development Security for any reason permitted under this Agreement. Upon the earlier of (i) Seller\u2019s delivery of the Performance Security, or (ii) sixty (60) days after termination of this Agreement, \u2587\u2587\u2587\u2587\u2587 shall return the Development Security to Seller, less the amounts drawn in accordance with this Agreement. If the Development Security is a Letter of Credit and the issuer of such Letter of Credit (i) fails to maintain the minimum Credit Rating specified in the definition of Letter of Credit, (ii) indicates its intent not to renew such Letter of Credit and such Letter of Credit expires prior to the Commercial Operation Date, or (iii) fails to honor Buyer\u2019s properly documented request to draw on such Letter of Credit by such issuer, Seller shall have ten (10) Business Days to either post cash or deliver a substitute Letter of Credit in an amount equal to the Development Security then held by \u2587\u2587\u2587\u2587\u2587 that otherwise meets the requirements set forth in the definition of Development Security.", "hash": "7290ea6c38266615bf7060b088c83659", "id": 10}], "next_curs": "Cl0SV2oVc35sYXdpbnNpZGVyY29udHJhY3RzcjkLEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2Ih1kZXZlbG9wbWVudC1zZWN1cml0eSMwMDAwMDAwYQyiAQJlbhgAIAA=", "clause": {"title": "Development Security", "children": [["posting-requirements", "Posting Requirements"], ["amount", "Amount"], ["full-return-of-development-security", "Full Return of Development Security"], ["return-of-development-security", "Return of Development Security"], ["daily-delay-liquidated-damages-to-extend-commercial-operation-deadline", "Daily Delay Liquidated Damages to Extend Commercial Operation Deadline"]], "parents": [["credit-and-collateral", "Credit and Collateral"], ["compliance-expenditure-cap", "Compliance Expenditure Cap"], ["resource-adequacy-benefits", "Resource Adequacy Benefits"], ["obligations-of-the-parties", "Obligations of the Parties"], ["development-security", "Development Security"]], "size": 88, "id": "development-security", "related": [["management-security", "MANAGEMENT SECURITY", "MANAGEMENT SECURITY"], ["payment-security", "Payment Security", "Payment Security"], ["replacement-securities", "Replacement Securities", "Replacement Securities"], ["employment-security", "Employment Security", "Employment Security"], ["government-securities", "Government Securities", "Government Securities"]], "related_snippets": [], "updated": "2025-07-18T05:44:56+00:00", "also_ask": [], "drafting_tip": null, "explanation": "The Development Security clause requires a party, typically a developer, to provide a financial guarantee or security to ensure the fulfillment of their obligations during a development project. This security can take the form of a bank guarantee, bond, or cash deposit, and is usually held by the other party until certain milestones or the completion of the project. Its core practical function is to protect the recipient against non-performance or default by the developer, thereby allocating risk and ensuring the project is completed as agreed."}, "json": true, "cursor": ""}}