Operating Period Security Sample Clauses

Operating Period Security. To guarantee the performance of Seller's obligations under the Agreement for the period starting from the Commercial Operations Date to the expiration or termination of this Agreement, Seller shall provide satisfactory operating period security to Company in the amount of $75/kW based on the Contract Capacity (the "Operating Period Security"). Seller shall provide such Operating Period Security to Company within five (5) Business Days after the Commercial Operations Date, provided that, at all times, some form of Security Funds shall be in place and available to Company, whether Development Period Security or Operating Period Security.
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Operating Period Security. To guarantee the performance of Seller's obligations under the Agreement for the period starting from the Commercial Operations Date to the expiration or termination of this Agreement, Seller shall provide operating period security to Company in the amount of $75/kW based on the Contract Capacity (the "Operating Period Security"). When the Commercial Operations Date has been achieved, the Development Period Security minus an amount that is due and owing to Company but not previously paid by Seller (including but not limited to Daily Delay Damages), shall be converted to Operating Period Security unless the Parties otherwise agree. Any additional amount necessary to fully fund the Operating Period Security shall be due within five (5) Days of the Commercial Operations Date.
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Operating Period Security. The Operating Period Security established, funded, and maintained by Seller pursuant to the provisions of this Article 14 (Credit Assurance and Security) shall be available to pay any amount due Company pursuant to this Agreement, and to provide Company security that Seller will construct the Facility to meet the Construction Milestones. The Operating Period Security shall also provide security to Company to cover damages, should the Seller fail operate the Facility in accordance with this Agreement. Seller shall maintain the Operating Period Security at the contractually-required level throughout the Term of this Agreement. Seller shall replenish the Operating Period Security to such required level within fifteen (15) Business Days after any draw on the Operating Period Security by Company.
Sample 1Sample 2Sample 3
Operating Period Security. To guarantee the performance of Subscriber Organization's obligations under the Agreement for the period starting from the Commercial Operations Date to the expiration or termination of this Agreement, Subscriber Organization shall provide satisfactory operating period security to Company in the amount of $75/kW based on the Contract Capacity (the "Operating Period Security"). Subscriber Organization shall provide such Operating Period Security to Company within five (5) Business Days after the Commercial Operations Date, provided that, at all times, some form of Security Funds shall be in place and available to Company, whether Development Period Security or Operating Period Security.
Sample 1Sample 2
Operating Period Security. To guarantee the performance of Seller’s obligations under the Agreement for the period starting from the Commercial Operation Date to the end of the Term, Seller shall provide financial security to Company in the amount equal to $3.8 million (the “Operating Period Security”). When the Commercial Operation Date has been achieved, the Development Period Security minus an amount that is due and owing to Company, but not previously paid by Seller (including but not limited to Daily Delay Damages) shall be converted to Operating Period Security unless the Parties otherwise agree. Any additional amount necessary to fully fund the Operating Period Security shall be due within thirty (30) Days of the Commercial Operation Date.
Sample 1
Operating Period Security. To guarantee the performance of Seller’s obligations under the Agreement for the period starting from the Commercial Operation Date to the expiration or termination of this Agreement, Seller shall provide financial security to Company in the amount equal to $175/kW of the Contract Firm Capacity based on the Contract Firm Capacity (the “Operating Period Security”)[OPERATING PERIOD SECURITY AMOUNT TO BE DETERMINED PRIOR TO PROVIDING THIS FORM TO SELLER]. When the Commercial Operation Date has been achieved, the Development Period Security minus an amount that is due and owing to Company but not previously paid by Seller (including but not limited to Daily Delay Damages), shall be converted to Operating Period Security unless the Parties otherwise agree. Any additional amount necessary to fully fund the Operating Period Security shall be, due within five (5) Days of the Commercial Operation Date.
Sample 1

Related to Operating Period Security

  • Distribution Compliance Period The Purchaser agrees not to resell, pledge or transfer any Purchased Shares within the United States or to any U.S. Person, as each of those terms is defined in Regulation S, during the 40 days following the Closing Date.

  • CONTRACT YEAR A twelve (12) month period during the term of the Agreement commencing on the Effective Date and each anniversary thereof.

  • Holding Period For the purposes of Rule 144 of the Securities Act, the Company acknowledges that the holding period of the Exchange Security may be tacked on the holding period of the Note, and the Company agrees not to a position contrary to this Section 6.

  • Funding Period The Funding Period, if any, shall not have terminated.

  • Month A period commencing at 10:00 a.m., Eastern Standard Time, on the first Day of a calendar month and extending until 10:00 a.m., Eastern Standard Time, on the first Day of the next succeeding calendar month. Monthly shall have the correlative meaning.

  • HSR Waiting Period The waiting period applicable to the consummation of the Merger under the HSR Act shall have expired or been terminated.

  • Payment Grace Period The Borrower shall have a ten (10) day grace period to pay any monetary amounts due under this Note, after which grace period a default interest rate of fifteen percent (15%) per annum shall apply to the amounts owed hereunder.

  • Waiting Period All full-time employees who are actively working and have completed thirty (30) days service shall be enrolled for the coverages and benefits set forth in this Exhibit as a condition of employment.

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