Security for Performance Guarantee Period Clause Samples

Security for Performance Guarantee Period. As security for the guaranteed energy savings the Contractor shall provide to the Customer within thirty (30) days of the performance guarantee commencement date the performance guarantee security. The Customer may at any time, use the performance guarantee security to pay itself any amount claimed by the Customer from the Contractor arising from or in connection with the non‐payment of the guaranteed energy savings in accordance with this Agreement, but the Customer must have first given the Contractor an opportunity to pay the amount claimed within a period of seven (7) days after the Customer notifies the Contractor of the amount claimed. The fact that the Contractor disputes the amount claimed is not to preclude the Customer from drawing on the performance guarantee security or the relevant performance guarantee security provider paying under the performance guarantee security.