Return of Performance Assurance. Unless otherwise specified, Performance Assurance shall be returned to Seller either: (i) with the first payment for RECs from the System, or (ii) termination of this Agreement because the System was not constructed due to a Force Majeure Event, or (iii) termination of this Agreement due to an Event of Default by Buyer. For purposes of clarification, Xxxxx has no obligation to return Performance Assurance if the Agreement is terminated due to an Event of Default by Seller.
Appears in 6 contracts
Samples: Purchase and Sale Agreement, Cover Sheet, Purchase and Sale Agreement
Return of Performance Assurance. Unless otherwise specified, Performance Assurance shall be returned to Seller either: (i) with the first payment for RECs from the System, or (ii) termination of this Agreement because the System was not constructed due to a Force Majeure Event, or (iii) termination of this Agreement due to an Event of Default by Buyer. For purposes of clarification, Xxxxx Buyer has no obligation to return Performance Assurance if the Agreement is terminated due to an Event of Default by Seller.
Appears in 2 contracts
Samples: Purchase and Sale Agreement, Purchase and Sale Agreement
