Common use of Use of Performance Assurance Clause in Contracts

Use of Performance Assurance. If Buyer is permitted to hold Performance Assurance pursuant to (b) above, then Buyer will have the right to sell, pledge, rehypothecate, assign, invest, use, commingle or otherwise dispose of, or otherwise use in its business any Performance Assurance it holds, free from any claim or right of any nature whatsoever of Seller. Buyer will be deemed to continue to hold all Performance Assurance regardless of whether Buyer has exercised any rights with respect to any Performance Assurance pursuant to the previous sentence. In the event that Buyer is not entitled to hold Performance Assurance (“Default Event”), Buyer shall be required to deliver, not later than the close of business on the second (2nd) Business Day following such Default Event, all Performance Assurance in its possession or held on its behalf to a Qualified Institution in a segregated, safekeeping or custody account (“Collateral Account”) within such Qualified Institution with the title of the Collateral Account indicating that the property contained therein is being held as Performance Assurance for Buyer; provided, that, if the selected Qualified Institution no longer meets the definition of a Qualified Institution, such Qualified Institution shall in turn deliver all Performance Assurance in its possession to another Qualified Institution as provided above. A Qualified Institution shall serve as a Custodian with respect to the Performance Assurance in the Collateral Account, and shall hold such Performance Assurance in accordance with the terms of this Attachment A of the Confirmation Agreement and for the ownership of Seller, subject to the security interest of Buyer.

Use of Performance Assurance. If Buyer is permitted to hold Performance Assurance pursuant to (b) above, then Buyer will have the right to sell, pledge, rehypothecate, assign, invest, use, commingle or otherwise dispose of, or otherwise use in its business any Performance Assurance it holds, free from any claim or right of any nature whatsoever of Seller. Buyer will be deemed to continue to hold all Performance Assurance regardless of whether Buyer has exercised any rights with respect to any Performance Assurance pursuant to the previous sentence. In the event that Buyer is not entitled to hold Performance Assurance (“Default Event”), Buyer shall be required to deliver, not later than the close of business on the second fifth (2nd5th) Business Day following such Default Event, all Performance Assurance in its possession or held on its behalf to a Qualified Institution in a segregated, safekeeping or custody account (“Collateral Account”) within such Qualified Institution with the title of the Collateral Account indicating that the property contained therein is being held as Performance Assurance for Buyer; provided, that, if the selected Qualified Institution no longer meets the definition of a Qualified Institution, such Qualified Institution shall in turn deliver all Performance Assurance in its possession to another Qualified Institution as provided above. A Qualified Institution shall serve as a Custodian with respect to the Performance Assurance in the Collateral Account, and shall hold such Performance Assurance in accordance with the terms of this Attachment A B of the Confirmation Agreement and for the ownership of Seller, subject to the security interest of Buyer.

Use of Performance Assurance. If Buyer is permitted to hold Performance Assurance pursuant to (b) above, then Buyer will have the right to sell, pledge, rehypothecate, assign, invest, use, commingle or otherwise dispose of, or otherwise use in its business any Performance Assurance it holds, free from any claim or right of any nature whatsoever of Seller. Buyer will be deemed to continue to hold all Performance Assurance regardless of whether Buyer has exercised any rights with respect to any Performance Assurance pursuant to the previous sentence. In the event that Buyer is not entitled to hold Performance Assurance (“Default Event”), Buyer shall be required to deliver, not later than the close of business on the second fifth (2nd5th) Business Day following such Default Event, all Performance Assurance in its possession or held on its behalf to a Qualified Institution in a segregated, safekeeping or custody account (“Collateral Account”) within such Qualified Institution with the title of the Collateral Account indicating that the property contained therein is being held as Performance Assurance for Buyer; provided, that, if the selected Qualified Institution no longer meets the definition of a Qualified Institution, such Qualified Institution shall in turn deliver all Performance Assurance in its possession to another Qualified Institution as provided above. A Qualified Institution shall serve as a Custodian with respect to the Performance Assurance in the Collateral Account, and shall hold such Performance Assurance in accordance with the terms of this Attachment Exhibit A of the Confirmation Agreement and for the ownership of Seller, subject to the security interest of Buyer.

Use of Performance Assurance. If Buyer is permitted to hold Performance Assurance pursuant to (b) above, then Buyer will have the right to sell, pledge, rehypothecate, assign, invest, use, commingle or otherwise dispose of, or otherwise use in its business any Performance Assurance it holds, free from any claim or right of any nature whatsoever of Seller. Buyer will be deemed to continue to hold all Performance Assurance regardless of whether Buyer has exercised any rights with respect to any Performance Assurance pursuant to the previous sentence. In the event that Buyer is not entitled to hold Performance Assurance (“Default Event”), Buyer shall be required to deliver, not later than the close of business on the second fifth (2nd5th) Business Day following such Default Event, all Performance Assurance in its possession or held on its behalf to a Qualified Institution in a segregated, safekeeping or custody account (“Collateral Account”) within such Qualified Institution with the title of the Collateral Account indicating that the property contained therein is being held as Performance Assurance for Buyer; provided, that, if the selected Qualified Institution no longer meets the definition of a Qualified Institution, such Qualified Institution shall in turn deliver all Performance Assurance in its possession to another Qualified Institution as provided above. A Qualified Institution shall serve as a Custodian with respect to the Performance Assurance in the Collateral Account, and shall hold such Performance Assurance in accordance with the terms of this Attachment A of the Confirmation Agreement and for the ownership of Seller, subject to the security interest of Buyer.

Use of Performance Assurance. If Buyer is permitted to hold Performance Assurance pursuant to (b) above, then Buyer will have the right to sell, pledge, rehypothecate, assign, invest, use, commingle or otherwise dispose of, or otherwise use in its business any Performance Assurance it holds, free from any claim or right of any nature whatsoever of Seller. Buyer will be deemed to continue to hold all Performance Assurance regardless of whether Buyer has exercised any rights with respect to any Performance Assurance pursuant to the previous sentence. In the event that Buyer is not entitled to hold Performance Assurance (“Default Event”), Buyer shall be required to deliver, not later than the close of business on the second fifth (2nd5th) Business Day following such Default Event, all Performance Assurance in its possession or held on its behalf to a Qualified Institution in a segregated, safekeeping or custody account (“Collateral Account”) within such Qualified Institution with the title of the Collateral Account indicating that the property contained therein is being held as Performance Assurance for Buyer; provided, that, if the selected Qualified Institution no longer meets the definition of a Qualified Institution, such Qualified Institution shall in turn deliver all Performance Assurance in its possession to another Qualified Institution as provided above. A Qualified Institution shall serve as a Custodian with respect to the Performance Assurance in the Collateral Account, and shall hold such Performance Assurance in accordance with the terms of this Attachment A of the Confirmation Agreement Exhibit B and for the ownership of Seller, subject to the security interest of Buyer.

Use of Performance Assurance. If Buyer is permitted to hold Performance Assurance pursuant to (b) above, then Buyer will have the right to sell, pledge, rehypothecate, assign, invest, use, commingle or otherwise dispose of, or otherwise use in its business any Performance Assurance it holds, free from any claim or right of any nature whatsoever of Seller. Buyer will be deemed to continue to hold all Performance Assurance regardless of whether Buyer has exercised any rights with respect to any Performance Assurance pursuant to the previous sentence. In the event that Buyer Xxxxx is not entitled to hold Performance Assurance (“Default Event”), Buyer shall be required to deliver, not later than the close of business on the second fifth (2nd5th) Business Day following such Default Event, all Performance Assurance in its possession or held on its behalf to a Qualified Institution in a segregated, safekeeping or custody account (“Collateral Account”) within such Qualified Institution with the title of the Collateral Account indicating that the property contained therein is being held as Performance Assurance for Buyer; provided, that, if the selected Qualified Institution no longer meets the definition of a Qualified Institution, such Qualified Institution shall in turn deliver all Performance Assurance in its possession to another Qualified Institution as provided above. A Qualified Institution shall serve as a Custodian with respect to the Performance Assurance in the Collateral Account, and shall hold such Performance Assurance in accordance with the terms of this Attachment A B of the Confirmation Agreement and for the ownership of Seller, subject to the security interest of Buyer.

Use of Performance Assurance. If Buyer is permitted to hold Performance Assurance pursuant to (b) above, then Buyer will have the right to sell, pledge, rehypothecate, assign, invest, use, commingle or otherwise dispose of, or otherwise use in its business any Performance Assurance it holds, free from any claim or right of any nature whatsoever of Seller. Buyer will be deemed to continue to hold all Performance Assurance regardless of whether Buyer has exercised any rights with respect to any Performance Assurance pursuant to the previous sentence. In the event that Buyer Xxxxx is not entitled to hold Performance Assurance (“Default Event”), Buyer shall be required to deliver, not later than the close of business on the second fifth (2nd5th) Business Day following such Default Event, all Performance Assurance in its possession or held on its behalf to a Qualified Institution in a segregated, safekeeping or custody account (“Collateral Account”) within such Qualified Institution with the title of the Collateral Account indicating that the property contained therein is being held as Performance Assurance for Buyer; provided, that, if the selected Qualified Institution no longer meets the definition of a Qualified Institution, such Qualified Institution shall in turn deliver all Performance Assurance in its possession to another Qualified Institution as provided above. A Qualified Institution shall serve as a Custodian with respect to the Performance Assurance in the Collateral Account, and shall hold such Performance Assurance in accordance with the terms of this Attachment A of the Confirmation Agreement and for the ownership of Seller, subject to the security interest of Buyer.

Use of Performance Assurance. If Buyer is permitted to hold Performance Assurance pursuant to (b) above, then Buyer will have the right to sell, pledge, rehypothecate, assign, invest, use, commingle or otherwise dispose of, or otherwise use in its business any Performance Assurance it holds, free from any claim or right of any nature whatsoever of Seller. Buyer will be deemed to continue to hold all Performance Assurance regardless of whether Buyer has exercised any rights with respect to any Performance Assurance pursuant to the previous sentence. In the event that Buyer is not entitled to hold Performance Assurance (“Default Event”), Buyer shall be required to deliver, not later than the close of business on the second fifth (5th)second (2nd) Business Day following such Default Event, all Performance Assurance in its possession or held on its behalf to a Qualified Institution in a segregated, safekeeping or custody account (“Collateral Account”) within such Qualified Institution with the title of the Collateral Account indicating that the property contained therein is being held as Performance Assurance for Buyer; provided, that, if the selected Qualified Institution no longer meets the definition of a Qualified Institution, such Qualified Institution shall in turn deliver all Performance Assurance in its possession to another Qualified Institution as provided above. A Qualified Institution shall serve as a Custodian with respect to the Performance Assurance in the Collateral Account, and shall hold such Performance Assurance in accordance with the terms of this Attachment A of the Confirmation Agreement and for the ownership of Seller, subject to the security interest of Buyer.