Pre-COD Security Sample Clauses
The Pre-COD Security clause establishes the requirements for security or guarantees that must be provided before the Commercial Operation Date (COD) of a project. Typically, this involves the project developer or contractor furnishing performance bonds, letters of credit, or other financial assurances to the project owner to cover potential risks or defaults during the construction phase. By mandating such security before the project becomes operational, this clause protects the owner's interests and ensures that there are remedies available if the contractor fails to meet its obligations prior to COD.
Pre-COD Security. On or before the 30th day following the Effective Date, Seller shall post the Pre-COD Security in the amount described in Section 9.1;
Pre-COD Security. Within ten (10) days following the Effective Date, Seller shall establish and fund the Pre-COD Security in accordance to Sections 10.1(a)(i) and 10.1(b);