Common use of Duty to Post Default Security Clause in Contracts

Duty to Post Default Security. Beginning on the date specified in Section 2.3(b), at any time during the Term when Seller does not satisfy the Credit Requirements, Seller shall post and maintain in favor of PacifiCorp (a) a guaranty from an entity that satisfies the Credit Requirements, in substantially the form attached hereto as Exhibit 8.2.1, or (b) a Letter of Credit (the "Default Security"), as provided in this Section 8.2. In the event Seller posts Default Security and thereafter satisfies the Credit Requirements, as demonstrated to the reasonable satisfaction of PacifiCorp, then Seller shall be entitled to a release by PacifiCorp of the Default Security for so long as Seller continues to satisfy the Credit Requirements. Seller and any party providing a guaranty for Seller shall provide within five Business Days from receipt of a written request from PacifiCorp all reasonable financial records necessary for PacifiCorp to confirm Seller and/or the guarantor satisfies the Credit Requirements.

Duty to Post Default Security. Beginning on the date specified in Section 2.3(b), at any time during the Term when Seller does not satisfy the Credit Requirements, Seller shall post and maintain in favor of PacifiCorp (a) a guaranty from an entity that satisfies the Credit Requirements, in substantially the form attached hereto as Exhibit 8.2.1, or (b) a Letter of Credit (the "Default Security"), as provided in this Section 8.2. In the event Seller posts Default Security and thereafter satisfies the Credit Requirements, as demonstrated to the reasonable satisfaction of PacifiCorp, then Seller shall be entitled to a release by PacifiCorp of the Default Security for so long as Seller continues to satisfy the Credit Requirements. Seller and any party providing a guaranty for Seller shall provide within five (5) Business Days from receipt of a written request from PacifiCorp all reasonable financial records necessary for PacifiCorp to confirm Seller and/or the guarantor satisfies the Credit Requirements.. by Section 8.2.1 shall be

Duty to Post Default Security. Beginning on the date specified in Section 2.3(b), at any time during the Term when Seller does not satisfy the Credit Requirements, Seller shall post and maintain in favor of PacifiCorp (a) a guaranty from an entity that satisfies the Credit Requirements, in substantially the form attached hereto as Exhibit 8.2.1D, or (b) a Letter of Credit (the "“Default Security"”), as provided in this Section 8.2. In the event Seller posts Default Security and thereafter satisfies the Credit Requirements, as demonstrated to the reasonable satisfaction of PacifiCorp, then Seller shall be entitled to a release by PacifiCorp of the Default Security for so long as Seller continues to satisfy the Credit Requirements. Seller and any party entity providing a guaranty for Seller shall provide within five (5) Business Days from receipt of a written request from PacifiCorp all reasonable financial records necessary for PacifiCorp to confirm Seller and/or the guarantor satisfies the Credit Requirements.

Duty to Post Default Security. Beginning on the date specified in Section 2.3(b), at any time during the Term when Seller does not satisfy the Credit Requirements, Seller shall post and maintain in favor of PacifiCorp (a) a guaranty from an entity that satisfies the Credit Requirements, in substantially the form attached hereto as Exhibit 8.2.1, or (b) a Letter of Credit (the "“Default Security"”), as provided in this Section 8.2. In the event Seller posts Default Security and thereafter satisfies the Credit Requirements, as demonstrated to the reasonable satisfaction of PacifiCorp, then Seller shall be entitled to a release by PacifiCorp of the Default Security for so long as Seller continues to satisfy the Credit Requirements. Seller and any party providing a guaranty for Seller shall provide within five (5) Business Days from receipt of a written request from PacifiCorp all reasonable financial records necessary for PacifiCorp to confirm Seller and/or the guarantor satisfies the Credit Requirements.Requirements.‌

Duty to Post Default Security. Beginning on the date specified in Section 2.3(b), at any time during the Term when Seller does not satisfy the Credit Requirements, Seller shall post and maintain in favor of PacifiCorp (a) a guaranty from an entity that satisfies the Credit Requirements, in substantially the form attached hereto as Exhibit 8.2.1C, or (b) a Letter of Credit (the "“Default Security"”), as provided in this Section 8.2. In the event Seller posts Default Security and thereafter satisfies the Credit Requirements, as demonstrated to the reasonable satisfaction of PacifiCorp, then Seller shall be entitled to a release by PacifiCorp of the Default Security for so long as Seller continues to satisfy the Credit Requirements. Seller and any party entity providing a guaranty for Seller shall provide within five (5) Business Days from receipt of a written request from PacifiCorp all reasonable financial records necessary for PacifiCorp to confirm Seller and/or the guarantor satisfies the Credit Requirements.