Financial Security Arrangements. At least 20 Business Days prior to the commencement of the design, procurement, installation, or construction of a discrete portion of the Public Utility's Interconnection Facilities and Upgrades, the Interconnection Customer shall provide the Public Utility, at the Interconnection Customer's option, a guarantee, a surety bond, letter of credit or other form of security that is reasonably acceptable to the Public Utility and is consistent with the Uniform Commercial Code of the jurisdiction where the Point of Common Coupling is located. Such security for payment shall be in an amount sufficient to cover the costs for constructing, designing, procuring, and installing the applicable portion of the Public Utility's Interconnection Facilities and Upgrades and shall be reduced on a dollar-for-dollar basis for payments made to the Public Utility under this Interconnection Agreement during its term. In addition:
Appears in 8 contracts
Samples: Generating Facility Electrical Interconnection Agreement, Interconnection Agreement, Generating Facility Electrical Interconnection Agreement
