Common use of Use of Project Development Security Clause in Contracts

Use of Project Development Security. Buyer shall be entitled to draw upon the Project Development Security posted by Seller for Daily Delay Damages until such time as the Project Development Security is exhausted. Buyer shall also be entitled to draw upon the Project Development Security for any damages arising upon Buyer’s declaration of an Early Termination Date.

Appears in 17 contracts

Samples: Power Purchase and Sale Agreement, Power Purchase and Sale Agreement, Power Purchase and Sale Agreement

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Use of Project Development Security. Buyer shall be entitled to draw upon the Project Development Security posted by Seller for Daily Delay Damages until such time as the Project Development Security is exhausted. Buyer shall also be entitled to draw upon the Project Development Security for any damages arising upon Buyer’s declaration of an Early Termination Date.

Appears in 11 contracts

Samples: Power Purchase Agreement, Power Purchase Agreement, Power Purchase Agreement

Use of Project Development Security. Buyer shall be entitled to draw upon the Project Development Security posted by Seller for Daily Delay Damages until such time as the Project Development Security is exhausted. Buyer shall also be entitled to draw upon the Project Development Security for any damages arising upon Buyer’s declaration of an Early Termination Date.

Appears in 9 contracts

Samples: Power Purchase Agreement, Power Purchase Agreement, Power Purchase Agreement

Use of Project Development Security. Buyer shall be is entitled to draw upon the Project Development Security posted by Seller for Daily Delay Damages in accordance with Section 2.4(a) until such time as the Project Development Security is exhausted. Buyer shall is also be entitled to draw upon the Project Development Security for any damages arising upon Buyer’s declaration of an Early Termination DateDate in accordance with Section 7.2(b).

Appears in 6 contracts

Samples: Guaranty Agreement, Consent and Agreement, Consent and Agreement

Use of Project Development Security. Buyer shall be entitled to draw upon the Project Development Security posted by Seller for Daily Delay Damages until such time as the Project Development Security is exhausted. Buyer shall also be entitled to draw upon the Project Development Security for any damages arising upon Buyer’s declaration of an Early Termination Date.

Appears in 4 contracts

Samples: Master Power Purchase and Sale Agreement, Master Power Purchase and Sale Agreement, Master Power Purchase and Sale Agreement

Use of Project Development Security. Buyer shall be is entitled to draw upon the Project Development Security posted by Seller for Daily Delay Damages in accordance with Article One until such time as the Project Development Security is exhausted. Buyer shall also be is entitled to draw upon the Project Development Security for any damages arising upon Buyer’s declaration of an Early Termination DateDate in accordance with Section 7.2(b).

Appears in 3 contracts

Samples: Distribution Services Agreement, Distribution Services Agreement, Distribution Services Agreement

Use of Project Development Security. Buyer shall be is entitled to draw upon the Project Development Security posted by Seller for Daily Delay Damages in accordance with Section 13.2(a) until such time as the Project Development Security is exhausted. Buyer shall is also be entitled to draw upon the Project Development Security for any damages arising upon Buyer’s declaration of an Early Termination DateDate in accordance with Section 4.2(b).

Appears in 2 contracts

Samples: Consent and Agreement, Pro Forma Energy Storage Agreement

Use of Project Development Security. Buyer shall be is entitled to draw upon the Project Development Security posted by Seller for Daily Delay Damages in accordance with Section (a) until such time as the Project Development Security is exhausted. Buyer shall is also be entitled to draw upon the Project Development Security for any damages arising upon Buyer’s declaration of an Early Termination DateDate in accordance with Section (b).

Appears in 2 contracts

Samples: Guaranty Agreement, Guaranty Agreement

Use of Project Development Security. Buyer shall be entitled to draw upon the Project Development Security posted by Seller for Daily Delay Damages until such time as the Project Development Security is exhausted. Buyer shall also be entitled to draw upon the Project Development Security for any damages arising upon Buyer’s declaration of an Early Termination DateDate or a reduction in Contract Capacity by Seller in accordance with Section 3.9(c)(iv)(C).

Appears in 1 contract

Samples: Power Purchase Agreement

Use of Project Development Security. Buyer shall be entitled to draw upon the [Project Development Security Security] posted by Seller for Daily Delay Damages until such time as the [Project Development Security Security] is exhausted. Buyer shall also be entitled to draw upon the [Project Development Security Security] for any damages arising upon Buyer’s declaration of an Early Termination Date.

Appears in 1 contract

Samples: Power Purchase Agreement

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Use of Project Development Security. Buyer shall be entitled to draw upon the Project Development Security posted by Seller for Daily Delay Damages until such time as $ [insert dollar amount equal to $100/kw] of the Project Development Security is exhausted. Buyer shall also be entitled to draw upon the Project Development Security for any damages arising upon Buyer’s declaration of an Early Termination Date.

Appears in 1 contract

Samples: Power Purchase Agreement

Use of Project Development Security. Buyer shall be entitled to draw upon the Project Development Security posted by Seller for Daily Delay Damages until such time as the Project Development Security is exhausted. Buyer shall also be entitled to draw upon the Project Development Security for Partial Completion Damages and any damages arising upon Buyer’s declaration of an Early Termination Date.

Appears in 1 contract

Samples: Power Purchase Agreement

Use of Project Development Security. Buyer shall be entitled to draw upon the Project Development Security posted by Seller for Daily Delay Damages until such time as the Project Development Security is exhausted. Buyer shall also be entitled to draw upon the Project Development Security for any damages arising upon Buyer’s declaration of an Early Termination Date prior to the Commercial Operation Date, with such damages limited to the posted Project Development Security.

Appears in 1 contract

Samples: Power Purchase and Sale Agreement

Use of Project Development Security. Buyer shall be entitled to draw upon the [Project Development Security Security] posted by Seller for Daily Delay Damages until such time as the [Project Development Security Security] is exhausted. Buyer shall also be entitled to draw upon the [Project Development Security Security] for any damages damages, including the Damage Payment, arising upon Buyer’s declaration of an Early Termination Date.

Appears in 1 contract

Samples: Power Purchase Agreement

Use of Project Development Security. Buyer shall be entitled to draw upon the [Project Development Security Security] posted by Seller for Daily Delay Damages until such time as the [Project Development Security Security] is exhausted. Buyer shall also be entitled to draw upon the [Project Development Security Security] for any damages arising upon BuyerXxxxx’s declaration of an Early Termination Date.

Appears in 1 contract

Samples: Power Purchase Agreement

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