Payment Security. To secure all of CAISO’s payment obligations to Owner under this Agreement, CAISO agrees to grant Owner a security interest and lien in the following collateral (collectively, the “Collateral”): (a) all past, present and future accounts and other amounts Responsible Utility owes CAISO at any time pursuant to Section 41 of the CAISO Tariff attributable to invoices submitted by Owner under this Agreement (collectively, the “Accounts”), (b) the RMR Owner Facility Trust Account, all funds in the RMR Owner Facility Trust Account at any time, and all funds paid on account of any Accounts, (c) all proceeds of the Collateral, if any, and (d) all of CAISO’s right, title and interest in the Collateral. CAISO represents and warrants to Owner that (a) CAISO has the authority to grant such security interest, (b) CAISO will have good, marketable and exclusive title to all of the Collateral, (c) such security interest and lien will at all times be a valid, enforceable and first-priority lien on the Collateral, and (d) such security interest will be duly perfected by the filing of a financing statement under the California Uniform Commercial Code describing the Collateral in the office of the Secretary of State of California and the delivery of a written notice of Owner’s security interest to the bank with which the RMR Owner Facility Trust Account is maintained. If CAISO defaults on its obligation to pay under this Agreement, Owner shall be entitled to enforce such securityinterest, to exercise its rights in the Collateral, to collect the Accounts from Responsible Utility, to collect all funds in the RMR Owner Facility Trust Account, and to exercise all other rights and remedies under the California Uniform Commercial Code. CAISO agrees to promptly execute and deliver all financing statements and other documents Owner reasonably requests, including but not limited to a written notice of Owner’s security interest in the Collateral to the bank with which the RMR Owner Facility Trust Account is maintained, in order to maintain, perfect and enforce such security interest.
Payment Security per week or part thereof. GUVNL shall provide an Irrevocable and unconditional revolving Letter of Credit in favour of, and for the sole benefit of the Power Producer for the contracted capacity. All the cost incurred by GUVNL for opening, maintenance and other cost related to establishment of Letter of Credit shall be borne by the Power Producer.
Payment Security. 9.4.1 MSEDCL shall provide to the SPV, in respect of payment of its Bills and/or Supplementary Bills, a monthly unconditional, revolving and irrevocable letter of credit (“Letter of Credit”), opened and maintained which may be drawn upon by the SPV in accordance with this Article 9.
Payment Security. 11.1 The Security Deposit submitted as part of the RFP no. RFP/RJ-ON-90/1/2023/3 will be used as Payment Security Bank Guarantee for the Buyer’s payment obligations under this Agreement.
Payment Security. 11.1 The Buyer shall provide to each of the Sellers (as per the percentage interest share as provided by Xxxxxxx) as security for its payment obligations hereunder an irrevocable, unconditional, on demand bank guarantee from a bank included in the list provided in Annexure - 8, in favour of the Sellers, for an amount specified in Clause 11.2 below, in a form provided at Annexure 6, to be in place prior to the Start Date. Bank Guarantee in favour of Vedanta and ONGC shall be in INR and for CEHL shall be in USD. In case if Buyer is unable to provide BG to CEHL in USD, they may provide the BG in INR, payable in USD by BG issuing bank directly to overseas account on invocation.
Payment Security. Provision of SERVICE is contingent on credit approval by Sprint. Upon request by Sprint, Customer shall provide Sprint with financial statements or other indications of Customer's financial and business circumstances. If Customer's financial or business circumstances or payment history is or, during the TERM, becomes unacceptable to Sprint, then Sprint may require a deposit, irrevocable letter of credit or other form of security acceptable to Sprint. Customer's failure to provide such security within 15 days following Sprint's reasonable request shall constitute a default under Subparagraph 4.2.
Payment Security. The Retailer may require that the Customer provide the Retailer with adequate security against the Customer’s future gas bills before connection to supply or continuation of supply. The payment security is applicable where the Customer is:
Payment Security. 1. The BUYER shall provide to the SELLER as security for its payment obligations under this Agreement an irrevocable, unconditional, on demand Bank Guarantee from a reputed bank of good standing, acceptable to the SELLER, in favour of SELLER, for an amount specified in Clause 10.4.2 below, in a mutually agreed format, to be in place five (5) days prior to the Start Date.
Payment Security. Prior to the commencement of this Permit, the Permittee shall provide the County with a cash deposit, an irrevocable letter of credit, or other form of security acceptable to MDAD and so endorsed as to be readily negotiable by the County, as security for the payments required hereunder, in the amount of not less than $1,000.00, or such other amount as may be directed from time to time by MDAD, plus any applicable State sales taxes applicable to the security deposit as may be required by law. Following the commencement of commercial activities hereunder, the amount of such payment security may be increased annually or periodically as MDAD determines, to an amount equal to three times the average monthly payment made by the Permittee in the prior year or in the prior period. Such payment security, as adjusted from time to time, shall be kept in full force throughout the term of this Permit. MDAD may draw upon such payment security cash or instrument if the Permittee fails to pay the fees and charges required to be paid under this Permit within the time or times required herein for such payment.
Payment Security. 12.1.1 The Aggregator shall, no later than 30 (thirty) days prior to the likely date of the Appointed Date, provide to the Supplier, an unconditional, revolving and irrevocable letter of credit with for an amount equivalent to 20% (twenty percent) of the annual Capacity Charge (the “Letter of Credit”), which may be drawn upon by the Supplier for recovery of payment due against the Monthly Invoice in accordance with the provisions of this Agreement. The Letter of Credit shall be substantially in the form specified in Schedule-C and shall come into effect on the Appointed Date, and shall be modified once every year to reflect the revision in 20% (twenty percent) of the annual Capacity Charge in accordance with the provisions of this Agreement.
