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. [Short Term Offers from existing ERRs, Seller to revise as follows: Buyer shall be entitled to draw upon the Pre-Delivery Term Security posted by Seller in the event an Early Termination Date has occurred, as applicable, and may retain the Pre-Delivery Term Security until all payment obligations of Seller arising under this Agreement, including compensation for the Termination Payment, indemnification payments or other damages are paid in full (whether directly or indirectly such as through set-off or netting) until such time as the Pre-Delivery Term Security is exhausted.]

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 BuyerXxxxx’s declaration of an Early Termination Date. [Short Term Offers from existing ERRsShort Term Existing, Seller to revise as follows: Buyer shall be entitled to draw upon the Pre-Delivery Term Security posted by Seller in the event an Early Termination Date has occurred, as applicable, and may retain the Pre-Delivery Term Security until all payment obligations of Seller arising under this Agreement, including compensation for the Termination Payment, indemnification payments or other damages are paid in full (whether directly or indirectly such as through set-off or netting) until such time as the Pre-Delivery Term Security is exhausted.]

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 BuyerXxxxx’s declaration of an Early Termination Date. [Short Term Offers from existing ERRs, Seller to revise as follows: Buyer shall be entitled to draw upon the Pre-Delivery Term Security posted by Seller in the event an Early Termination Date has occurred, as applicable, and may retain the Pre-Delivery Term Security until all payment obligations of Seller arising under this Agreement, including compensation for the Termination Payment, indemnification payments or other damages are paid in full (whether directly or indirectly such as through set-off or netting) until such time as the Pre-Delivery Term Security is exhausted.]

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. [Short Term Offers from existing ERRs, : Seller to revise as follows: Buyer shall be entitled to draw upon the Pre-Delivery Term Security posted by Seller in the event an Early Termination Date has occurred, as applicable, and may retain the Pre-Delivery Term Security until all payment obligations of Seller arising under this Agreement, including compensation for the Termination Payment, indemnification payments or other damages are paid in full (whether directly or indirectly such as through set-off or netting) until such time as the Pre-Delivery Term Security is exhausted.]