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

Project Development Security; Delivery Term Security. Seller agrees to deliver to Buyer collateral to secure its obligations under this Agreement, which Seller shall maintain in full force and effect for the period posted with Buyer, as follows: (i) Project Development Security pursuant to this Section 8.4(a)(i) in the amount of $20/kW multiplied by the capacity of the Project as reflected in the Cover Sheet for projects 5 MW and smaller, or $60/$90 /kW multiplied by the capacity of the Project as reflected in the Cover Sheet for As-Available/Baseload resources, respectively, for projects greater than 5 MW and up to 20 MW in size and in the form set forth on the Cover Sheet within five (5) Business Days following the Effective Date of this Agreement until Seller posts Delivery Term Security pursuant to Section 8.4(a)(ii) below with Buyer. (ii) Delivery Term Security pursuant to this Section 8.4(a)(ii) in the amount of $20/kW multiplied by the capacity of the Project as reflected in Seller’s Offer, or 5% of expected total project revenues for projects greater than 5 MW and up to 20 MW in size and in the form set forth on the Cover Sheet from the Commercial Operation Date until the end of the Term; provided that, with Buyer’s consent, Seller may elect to apply the Project Development Security posted pursuant to Section 8.4(a)(i) toward the Delivery Term Security posted pursuant to this Section 8.4(a)(ii). Except as provided in Section 5.2(c), the amount of Performance Assurance required under this Agreement shall not be deemed a limitation of damages. Except as specifically provided for in this Section 8.4(a), Buyer acknowledges that Seller shall not be required to post any additional security.

Project Development Security; Delivery Term Security. Seller agrees to deliver to Buyer collateral to secure its obligations under this Agreement, which Seller shall maintain in full force and effect for the period posted with Buyer, as follows: (i) Project Development Security pursuant to this Section 8.4(a)(i) in the amount of $2060/kW for As-Available resources or $90/kW for Baseload resources multiplied by the capacity of the Project as reflected in Section B of the Cover Sheet for projects 5 MW and smallerSheet, or $60/$90 /kW multiplied by the capacity of the Project as reflected in the Cover Sheet for As-Available/Baseload resources, respectively, for projects greater than 5 MW and up to 20 MW in size and in the form set forth on the Cover Sheet within five (5) Business Days following the Effective Date of this Agreement until Seller posts Delivery Term Security pursuant to Section 8.4(a)(ii) below with Buyer. (ii) Delivery Term Security pursuant to this Section 8.4(a)(ii) in the amount of $20/kW multiplied by the capacity of the Project as reflected in Seller’s Offer, or five percent (5% %) of expected total project Project revenues for projects greater than 5 MW and up to 20 MW in size and in the form set forth on the Cover Sheet from the Commercial Operation date required pursuant to Section 3.1(c)(i) as a condition precedent to the Initial Energy Delivery Date until the end of the Term; provided that, with Buyer’s consent, Seller may elect to apply the Project Development Security posted pursuant to Section 8.4(a)(i) toward the Delivery Term Security posted pursuant to this Section 8.4(a)(ii). Except as provided in Section 5.2(c), the The amount of Performance Assurance required under this Agreement shall not be deemed a limitation of damages. Except as specifically provided for in this Section 8.4(a), Buyer acknowledges that Seller shall not be required to post any additional security.