Maintenance of Seller Credit Support. Seller shall maintain Credit Support for the benefit of PGE having an aggregate value at least equal to the Credit Support Amount then applicable to Seller until the later of (x) the end of the Delivery Term and (y) the date on which all of Seller’s obligations under this Agreement have been satisfied in full (other than contingent obligations with respect to which PGE has not made a claim). If the resolution of any disputed amount may result in a payment due from Seller, Seller’s payment obligations under this Agreement will not be deemed to have been satisfied until such Dispute is resolved and the amount, if any, payable by Seller upon such resolution has been paid in full. If following the Commercial Operation Date any portion of the Credit Support provided by Seller is applied by PGE to satisfy any outstanding obligations of Seller under this Agreement, then Seller shall within ten (10) Business Days following PGE’s written demand replenish such Credit Support so that the amount of Credit Support outstanding in favor of PGE is not less than the Delivery Period Security; provided that Seller’s obligation to replenish Credit Support following the Commercial Operation Date is limited to an aggregate amount of replenishment equal to the Delivery Period Security. For the avoidance of doubt, Xxxxxx has no obligation to replenish Credit Support prior to the Commercial Operation Date.
Appears in 3 contracts
Samples: Wholesale Renewable Power and Storage Capacity Purchase Agreement, Wholesale Renewable Power and Storage Capacity Purchase Agreement, Wholesale Renewable Power and Storage Capacity Purchase Agreement
Maintenance of Seller Credit Support. Seller shall maintain Credit Support for the benefit of PGE Buyer having an aggregate value at least equal to the Credit Support Amount then applicable to Seller until the later of (x) the end of the Delivery Term and (y) the date on which all of Seller’s obligations under this Agreement have been satisfied in full (other than contingent obligations with respect to which PGE Xxxxx has not made a claim). If the resolution of any disputed amount may result in a payment due from Seller, Seller’s payment obligations under this Agreement will not be deemed to have been satisfied until such Dispute is resolved and the amount, if any, payable by Seller upon such resolution has been paid in full. If following the Commercial Operation Date any portion of the Credit Support provided by Seller is applied by PGE Buyer to satisfy any outstanding obligations of Seller under this Agreement, then Seller shall within ten (10) Business Days following PGEBuyer’s written demand replenish such Credit Support so that the amount of Credit Support outstanding in favor of PGE Buyer is not less than the Delivery Operating Period SecurityCredit Support Amount; provided that Seller’s obligation to replenish Credit Support following the Commercial Operation Date is limited to an aggregate amount of replenishment equal to the Delivery Operating Period SecurityCredit Support Amount. For the avoidance of doubt, Xxxxxx has no obligation to replenish Credit Support prior to the Commercial Operation Date.
Appears in 2 contracts
Samples: Storage Capacity Agreement, Storage Capacity Agreement
