Common use of Project Development Security; Delivery Term Security Clause in Contracts

Project Development Security; Delivery Term Security. To secure its obligations under this Agreement Seller agrees to deliver to Buyer collateral, which Seller shall maintain in full force and effect for the period posted with Buyer, as follows: (i) Project Development Security in the amount and in the form set forth in the Cover Sheet with respect to this subpart (i) from the Execution Date of this Agreement until Seller posts Project Development Security pursuant to subpart (ii) below, with Buyer; (ii) Project Development Security in the amount and in the form set forth in the Cover Sheet with respect to this subpart (ii) from a date not later than thirty (30) days following the date on which all of the Conditions Precedent set forth in Article Eleven are either satisfied or waived until Seller posts Delivery Term Security pursuant to subpart (iii) below, with Buyer; and (iii) from the Commercial Operation Date until the end of the Term, the Delivery Term Security in the amount and in the form set forth in the Cover Sheet with respect to this subpart (iii). Any such Performance Assurance shall not be deemed a limitation of damages, unless otherwise specifically provided by the terms set forth in this Agreement.

Project Development Security; Delivery Term Security. To secure its obligations under this Agreement Seller agrees to deliver to Buyer collateral, which Seller shall maintain in full force and effect for the period posted with Buyer, as follows: (i) Project Development Security in the amount and in the form set forth in the Cover Sheet with respect to this subpart (i) from a date not later than five (5) Business Days following the Execution Date of this Agreement until Seller posts the Project Development Security is returned or applied pursuant to subpart (ii) below, with BuyerSection 8.4(c); (ii) Project Development Security in the amount and in the form set forth in the Cover Sheet with respect to this subpart (ii) from a date not later than thirty (30) calendar days following the date on which all of Financial Closing Date until the Conditions Precedent set forth in Article Eleven are either satisfied Project Development Security is returned or waived until Seller posts Delivery Term Security applied pursuant to subpart (iii) below, with BuyerSection 8.4(c); and (iii) from the Commercial Operation Date until the end of the Term, the The Delivery Term Security in the amount and in the form set forth in the Cover Sheet with respect to this subpart (iii)) from the Initial Energy Delivery Date until the end of the Term as follows: (A) $ 9,000,000 Letter of Credit; and (B) $ 27,000,000 Lien, in accordance with Section 8.6. Any such Performance Assurance shall not be deemed a limitation of damages, unless otherwise specifically provided by the terms set forth in this Agreement. For avoidance of doubt, Seller has no obligation to add additional collateral in order to maintain any specified level of Performance Assurance if all or any portion of such Performance Assurance is drawn upon, set off, liquidated, applied or otherwise utilized pursuant to Section 8.4(b), or otherwise.

Project Development Security; Delivery Term Security. To secure its obligations under this Agreement Agreement, Seller agrees to deliver to Buyer collateral, which Seller shall maintain in full force and effect for the period posted with Buyer, as followsset forth below: (i) Project Development Security in the amount and in the form set forth in the Cover Sheet with respect to this subpart (i) from the Execution Date of this Agreement until Seller posts Project Development Security pursuant to subpart (ii) below, with Buyer;. (ii) Project Development Security in the amount and in the form set forth in the Cover Sheet with respect to this subpart (ii) as follows: (A) from a date not later than thirty (30) days following the later of (I) the date on which all of the Conditions Precedent set forth in Article Eleven are either satisfied or waived and (II) the date on which Seller receives PGC Funding Confirmation from the CEC until the earlier of (x) the Construction State Date or (y) the Guaranteed Construction Start Date; and (B) from a date not later than the earlier of the Construction Start Date or the Guaranteed Construction Start Date until Seller posts Delivery Term Security pursuant to subpart (iii) below, with Buyer; and. (iii) from the Commercial Operation Date until the end of the Term, the Delivery Term Security in the amount and in the form set forth in the Cover Sheet with respect to this subpart (iii)) from the Commercial Operation Date until the end of the Term. Any such Performance Assurance Delivery Term Security shall not be deemed a limitation of damages, unless otherwise specifically provided by the terms set forth in this Agreement.