Common use of Execution Conditions Clause in Contracts

Execution Conditions. ‌ Within fifteen (15) Business Days of receiving the final GIA, and prior to, and as a condition precedent to IPA’s execution of the GIA, Interconnection Customer shall provide IPA with (A) reasonable evidence of continued Site Control or (B) if Site Control has not been demonstrated by reasonable evidence, additional security in the amount specified in the Deposit Amount Schedule, which shall be applied toward future construction costs, as specified in the GIA. At the same time, Interconnection Customer also shall provide reasonable evidence that one or more of the following milestones in the development of the Generating Facility has been achieved: (i) the execution of a contract for the supply or transportation of fuel to the Generating Facility; (ii) the execution of a contract for the supply of cooling water to the Generating Facility; (iii) execution of a contract for the engineering for, procurement of major equipment for, or construction of, the Generating Facility; (iv) execution of a contract for the sale of electric energy or capacity from the Generating Facility; or (v) application for an air, water, or land use permit.