Development Security definition
Examples of Development Security in a sentence
Credit Support: • Section 8 of the PPA specifies Seller’s security and credit support requirements under the PPA, including Project Development Security through COD and Default Security at and after COD in the form of a guaranty meeting the Credit Requirements or cash or a Letter of Credit, each in the amount of $ per kW of Expected Nameplate Capacity Rating ($ ).
To secure its obligations under this Agreement, Seller shall deliver Development Security to Buyer within thirty (30) days after the Effective Date.
Prior to or concurrently with the submittal of the security, the developer shall submit a signed Subdivision Security and Deferred Improvement Agreement (for final plats) or a signed Development Security and Deferred Improvement Agreement (for site plan-reviewed developments) on the appropriate form prepared and provided by the city.
Seller may at its option exchange one permitted form of Development Security or Performance Security for another permitted form of Development Security or Performance Security, as applicable.