Common use of Security for Performance Clause in Contracts

Security for Performance. 6.1 Seller’s Support. (a) Seller shall be required to post Credit Support in the total amount of $35,938,000 (which is equal to $20,000.00 per MWh per hour of the Contract Maximum Amount, , as adjusted in accordance with Section 3.1(c), to secure Seller’s obligations in the period between the Effective Date and the Commercial Operation Date (“Development Period Security”). $2,114,000 of the Development Period Security (which is equal to $10,000.00 per MWh per hour of the Contract Maximum Amount) shall be provided to Buyer on the Effective Date; $2,114,000 of the Development Period Security (which is equal to $10,000.00 per MWh per hour of the Contract Maximum Amount) shall be provided to Buyer within fifteen (15) Business Days after receipt of the Regulatory Approval; If at any time, the amount of Development Period Security is reduced as a result of Buyer’s draw upon such Development Period Security to less than the amount of Development Period Security required to be provided by Seller, within of that draw Seller shall replenish such Development Period Security to the amount of Development Period Security required to be provided by Seller through the period ending fifteen (15) days after receipt of the Regulatory Approval. Buyer shall return any undrawn amount of the Development Period Security to Seller within thirty (30) days after the later of (x) Buyer’s receipt of an undisputed notice from Seller that the Commercial Operation Date has occurred or (y) Buyer’s receipt of the full amount of the Operating Period Security (except to the extent that Development Period Security is converted into Operating Period Security as provided in Section 6.1(b)).‌ (b) Beginning not later than ten (10) days following the Commercial Operation Date, Seller shall provide Buyer with Credit Support to secure Seller’s obligations under this Agreement after the Commercial Operation Date through and including the date that all of Seller’s obligations under this Agreement are satisfied (“Operating Period Security”). The Operating Period Security shall be in the amount of $4,228,000 (which is equal to $20,000.00 per MWh per hour of the Contract Maximum Amount), as adjusted in accordance with Section 3.3(b). If at any time on or after the Commercial Operation Date, the amount of Operating Period Security is reduced as a result of Buyer’s draw upon such Operating Period Security, within of that draw Seller shall replenish such Operating Period Security to the total amount required under this Section 6.1(b).

Security for Performance. 6.1 Seller’s Support. (a) Seller shall be required to post Credit Support in the total amount of $35,938,000 (which is equal to $20,000.00 per MWh per hour of the Contract Maximum Amount, , as adjusted in accordance with Section 3.1(c), 750,000 to secure Seller’s obligations in the period between the Effective Date and the Commercial Operation Date (“Development Period Security”). $2,114,000 Fifty percent (50%) of the Development Period Security (which is equal to $10,000.00 per MWh per hour of the Contract Maximum Amount) shall be provided to Buyer on within thirty (30) days after the Effective Date; $2,114,000 and the remaining fifty percent (50%) of the Development Period Security (which is equal to $10,000.00 per MWh per hour of the Contract Maximum Amount) shall be provided to Buyer within fifteen (15) Business Days after receipt of the Regulatory Approval; . If at any timetime prior to the Commercial Operation Date, the amount of Development Period Security is reduced as a result of Buyer’s draw upon such Development Period Security to less than the amount of Development Period Security required to be provided by SellerSeller through the period ending fifteen (15) days after receipt of the Regulatory Approval, within of that draw Seller shall replenish such Development Period Security to the amount of Development Period Security required to be provided by Seller through the period ending fifteen (15) days after receipt of the Regulatory ApprovalApproval within five (5) days of that draw. Buyer shall return any undrawn amount of the Development Period Security to Seller within thirty (30) days after the later of (x) Buyer’s receipt of an undisputed notice from Seller that the Commercial Operation Date has occurred or (y) Buyer’s receipt of the full amount of the Operating Period Security (except to the extent that Development Period Security is converted into Operating Period Security as provided in Section 6.1(b)).‌Security. (b) Beginning not later than ten (10) days following the Commercial Operation Date, Seller shall provide Buyer with Credit Support to secure Seller’s obligations under this Agreement after the Commercial Operation Date through and including the date that all of Seller’s obligations under this Agreement are satisfied (“Operating Period Security”). The Operating Period Security shall be in the an amount of $4,228,000 (which is equal to $20,000.00 per MWh per hour of the Contract Maximum Amount), as adjusted in accordance with Section 3.3(b)750,000. If at any time on or after the Commercial Operation Date, the amount of Operating Period Security is reduced as a result of Buyer’s draw upon such Operating Period Security, within of that draw Seller shall replenish such Operating Period Security to the total amount required under this Section 6.1(b)) within five (5) Business Days of that draw.

Security for Performance. 6.1 Seller’s Support. (a) Seller shall be required to post Credit Support in the total amount of [$ ] [$35,938,000 (which is equal to $20,000.00 30 per MWh per hour kwh of the Contract Maximum Amount, , as adjusted in accordance with Section 3.1(c), Amount if the Facility has an expected capacity factor of 50% or more; $20 per kwh of Contract Maximum Amount if the Facility has an expected capacity factor more than 20% but less than 50%; and $10 per kwh of Contract Maximum Amount if the Facility has an expected capacity factor of 20% or less]$750,000 to secure Seller’s obligations in the period between the Effective Date and the Commercial Operation Date (“Development Period Security”). $2,114,000 Fifty percent (50%) of the Development Period Security (which is equal to $10,000.00 per MWh per hour of the Contract Maximum Amount) shall be provided to Buyer on onwithin thirty (30) days after the Effective Date; $2,114,000 and the remaining fifty percent (50%) of the Development Period Security (which is equal to $10,000.00 per MWh per hour of the Contract Maximum Amount) shall be provided to Buyer within fifteen (15) Business Days after receipt of the Regulatory Approval; . If at any timetime prior to the Commercial Operation Date, the amount of Development Period Security is reduced as a result of Buyer’s draw upon such Development Period Security to less than the amount of Development Period Security required to be provided by SellerSeller through the period ending fifteen (15) days after receipt of the Regulatory Approval, within of that draw Seller shall replenish such Development Period Security to the amount of Development Period Security required to be provided by Seller through the period ending fifteen (15) days after receipt of the Regulatory ApprovalApproval within five (5) days of that draw. Buyer shall return any undrawn amount of the Development Period Security to Seller within thirty (30) days after the later of (x) Buyer’s receipt of an undisputed notice from Seller that the Commercial Operation Date has occurred or (y) Buyer’s receipt of the full amount of the Operating Period Security (except to the extent that Development Period Security is converted into Operating Period Security as provided in Section 6.1(b)).‌Security. (b) Beginning not later than ten (10) days following the Commercial Operation Date, Seller shall provide Buyer with Credit Support to secure Seller’s obligations under this Agreement after the Commercial Operation Date through and including the date that all of Seller’s obligations under this Agreement are satisfied (“Operating Period Security”). The Operating Period Security shall be in the an amount of $4,228,000 (which is equal to [$ ] [$20,000.00 30 per MWh per hour kwh of the Contract Maximum Amount), as adjusted in accordance with Section 3.3(b)Amount if the Facility has an expected capacity factor of 50% or more; $20 per kwh of Contract Maximum Amount if the Facility has an expected capacity factor more than 20% but less than 50%; and $10 per kwh of Contract Maximum Amount if the Facility has an expected capacity factor of 20% or less].$750,000. If at any time on or after the Commercial Operation Date, the amount of Operating Period Security is reduced as a result of Buyer’s draw upon such Operating Period Security, within of that draw Seller shall replenish such Operating Period Security to the total amount required under this Section 6.1(b)) within five (5) Business Days of that draw.

Security for Performance. 6.1 Seller’s Support. (a) Seller shall be required to post Credit Support in the total amount of $35,938,000 4,228,000 (which is equal to $20,000.00 per MWh per hour of the Contract Maximum Amount, ), as adjusted in accordance with Section 3.1(c), to secure Seller’s obligations in the period between the Effective Date and the Commercial Operation Date (“Development Period Security”). $2,114,000 of the Development Period Security (which is equal to $10,000.00 per MWh per hour of the Contract Maximum Amount) shall be provided to Buyer on the Effective Date; and $2,114,000 of the Development Period Security (which is equal to $10,000.00 per MWh per hour of the Contract Maximum Amount) shall be provided to Buyer within fifteen (15) Business Days after receipt of the Regulatory Approval; . If at any time, the amount of Development Period Security is reduced as a result of Buyer’s draw upon such Development Period Security to less than the amount of Development Period Security required to be provided by Seller, within of that draw Seller shall replenish such Development Period Security to the amount of Development Period Security required to be provided by Seller through the period ending fifteen (15) days after receipt of the Regulatory Approval. Buyer shall return any undrawn amount of the Development Period Security to Seller within thirty (30) days after the later of (x) Buyer’s receipt of an undisputed notice from Seller that the Commercial Operation Date has occurred or (y) Buyer’s receipt of the full amount of the Operating Period Period‌ Security (except to the extent that Development Period Security is converted into Operating Period Security as provided in Section 6.1(b)).‌6.1(b)). (b) Beginning not later than ten (10) days following the Commercial Operation Date, Seller shall provide Buyer with Credit Support to secure Seller’s obligations under this Agreement after the Commercial Operation Date through and including the date that all of Seller’s obligations under this Agreement are satisfied (“Operating Period Security”). The Operating Period Security shall be in the amount of $4,228,000 (which is equal to $20,000.00 per MWh per hour of the Contract Maximum Amount), as adjusted in accordance with Section 3.3(b). If at any time on or after the Commercial Operation Date, the amount of Operating Period Security is reduced as a result of Buyer’s draw upon such Operating Period Security, within of that draw Seller shall replenish such Operating Period Security to the total amount required under this Section 6.1(b).

Security for Performance. 6.1 Seller’s Support. (a) Seller shall be required to post Credit Support in the total amount of $35,938,000 (which is equal to $20,000.00 per MWh per hour of the Contract Maximum Amount, , as adjusted in accordance with Section 3.1(c), to secure Seller’s obligations in the period between the Effective Date and the Commercial Operation Date (“Development Period Security”). $2,114,000 Fifty percent (50%) of the Development Period Security (which is equal to $10,000.00 per MWh per hour of the Contract Maximum Amount) shall be provided to Buyer on the Effective Date; $2,114,000 and the remaining fifty percent (50%) of the Development Period Security (which is equal to $10,000.00 per MWh per hour of the Contract Maximum Amount) shall be provided to Buyer within fifteen (15) Business Days after receipt of the Regulatory Approval; . If at any timetime prior to the Commercial Operation Date, the amount of Development Period Security is reduced as a result of Buyer’s draw upon such Development Period Security to less than the amount of Development Period Security required to be provided by SellerSeller through the period ending fifteen (15) days after receipt of the Regulatory Approval, within of that draw Seller shall replenish such Development Period Security to the amount of Development Period Security required to be provided by Seller through the period ending fifteen (15) days after receipt of the Regulatory ApprovalApproval within five (5) days of that draw. Buyer shall return any undrawn amount of the Development Period Security to Seller within thirty (30) days after the later of (x) Buyer’s receipt of an undisputed notice from Seller that the Commercial Operation Date has occurred or (y) Buyer’s receipt of the full amount of the Operating Period Security (except to Security. Deleted: [$ ] [$30 per kwh of Contract Maximum Amount if the extent Facility has an expected capacity factor of 50% or more; $20 per kwh of Contract Maximum Amount if the Facility has an expected capacity factor more than 20% but less than 50%; and $10 per kwh of Contract Maximum Amount if the Facility has an expected capacity factor of 20% or less]. Deleted: its reasonable discretion. All Deleted: held in that Development Period Security is converted into Operating Period Security as provided in Section 6.1(b)).‌account (b) Beginning not later than ten (10) days following the Commercial Operation Date, Seller shall provide Buyer with Credit Support to secure Seller’s obligations under this Agreement after the Commercial Operation Date through and including the date that all of Seller’s obligations under this Agreement are satisfied (“Operating Period Security”). The Operating Period Security shall be in the an amount of $4,228,000 (which is equal to $20,000.00 per MWh per hour of the Contract Maximum Amount), as adjusted in accordance with Section 3.3(b). If at any time on or after the Commercial Operation Date, the amount of Operating Period Security is reduced as a result of Buyer’s draw upon such Operating Period Security, within of that draw Seller shall replenish such Operating Period Security to the total amount required under this Section 6.1(b)) within thirty (30) days of that draw.