Common use of Performance Assurance Clause in Contracts

Performance Assurance. (a) On any Business Day, ENA may demand in writing that Counterparty establish and maintain (subject to increase as provided below) (1) Performance Assurance for the benefit of ENA equal to Counterparty's Collateral Requirement, rounded up to the next higher integral multiple of $100,000, or (2) increase the amount of any outstanding Performance Assurance so that after such increase the Collateral Requirement has been fully satisfied. Counterparty shall either establish such Performance Assurance or increase any outstanding Performance Assurance, in each case by either (i) increasing the amount of any outstanding Letter of Credit; (ii) establishing additional Letters of Credit; or (ii) delivering Cash to ENA. Unless otherwise agreed in writing by the parties, Performance Assurance demanded of Counterparty by 10:00 a.m., New York time, on a Business Day shall be provided by the close of business on the next succeeding Business Day; provided, however, that Letters of Credit shall be Transferred by the close of business on the second succeeding Business Day.

Performance Assurance. (a) On any Business Day, ENA may demand in writing that Counterparty establish and maintain (subject to increase as provided below) (1) Performance Assurance for the benefit of ENA equal to Counterparty's Collateral Requirement, rounded up to the next higher integral multiple of $100,000250,000, or (2) increase the amount of any outstanding Performance Assurance so that after such increase the Collateral Requirement has been fully satisfied. Counterparty shall either establish such Performance Assurance or increase any outstanding Performance Assurance, in each case by either (i) increasing the amount of any outstanding Letter of Credit; (ii) establishing additional Letters of Credit; or (iiiii) delivering Cash to ENA. Unless otherwise agreed in writing by the parties, Performance Assurance demanded of Counterparty by 10:00 a.m., New York time, on a Business Day shall be provided by the close of business on the next succeeding Business Day; provided, however, that Letters of Credit shall be Transferred by the close of business on the second succeeding Business Day.

Performance Assurance. (a) On any Business Day, ENA may demand in writing that Counterparty establish and maintain (subject to increase as provided below) (1) Performance Assurance for the benefit of ENA equal to Counterparty's Collateral Requirement, rounded up to the next higher integral multiple of $100,000250,000, or (2) increase the amount of any outstanding Performance Assurance so that after such increase the Collateral Requirement has been fully satisfied. Counterparty shall either establish such Performance Assurance or increase any outstanding Performance Assurance, in each case by either (i) increasing the amount of any outstanding Letter of Credit; (ii) establishing additional Letters of Credit; or (ii) delivering Cash to ENA. Unless otherwise agreed in writing by the parties, Performance Assurance demanded of Counterparty by 10:00 a.m., New York time, on a Business Day shall be provided by the close of business on the next succeeding Business Day; provided, however, that Letters of Credit shall be Transferred by the close of business on the second succeeding Business Day.

Performance Assurance. (a) On any Business Day, ENA may demand in writing that Counterparty establish and maintain (subject to increase as provided below) (1) Performance Assurance for the benefit of ENA equal to Counterparty's Collateral Requirement, rounded up to the next higher integral multiple of $100,00050,000, or (2) increase the amount of any outstanding Performance Assurance so that after such increase the Collateral Requirement has been fully satisfied. Counterparty shall either establish such Performance Assurance or increase any outstanding Performance Assurance, in each case by either (i) increasing the amount of any outstanding Letter of Credit; (ii) establishing additional Letters of Credit; or (ii) delivering Cash to ENA. Unless otherwise agreed in writing by the parties, Performance Assurance demanded of Counterparty by 10:00 a.m., New York time, on a Business Day shall be provided by the close of business on the next succeeding Business Day; provided, however, that Letters of Credit shall be Transferred by the close of business on the second succeeding Business Day.