Common use of Owner Security Clause in Contracts

Owner Security. (a) In order to secure Owner’s obligations under this Agreement in the period beginning on the Effective Date and continuing through and including the date that all of Owner’s obligations under this Agreement are satisfied, Owner shall be required to post Credit Support (i) prior to the Commercial Operation Date, prior to the Assignment Effective Date in the amount of $4,983,480 and on and after the Assignment Effective Date in the amount of $9,555,480 and (ii) on and after the Commercial Operation Date, in the amount of $4,983,480 (“Owner Security”). $2,491,740 of the Owner Security shall be provided to Distribution Company within three (3) Business Days following the Execution Date; $2,491,740 of the Owner Security shall be provided to Distribution Company within fifteen

Owner Security. (a) In order to secure Owner’s obligations under this Agreement in the period beginning on the Effective Date and continuing through and including the date that all of Owner’s obligations under this Agreement are satisfied, Owner shall be required to post Credit Support (i) prior to the Commercial Operation Date, prior to the Assignment Effective Date in the amount of $4,983,480 5,793,350 and on and after the Assignment Effective Date in the amount of $9,555,480 11,108,350 and (ii) on and after the Commercial Operation Date, in the amount of $4,983,480 5,793,350 (“Owner Security”). $2,491,740 2,896,675 of the Owner Security shall be provided to Distribution Company within three (3) Business Days following the Execution Date; $2,491,740 2,896,675 of the Owner Security shall be provided to Distribution Company within fifteen