EPC Contract Security definition
EPC Contract Security means those certain Letter(s) of Credit posted by the EPC Guarantor, for the benefit of the Borrower, in a total aggregate amount of $220,000,000, to secure the EPC Contractor’s obligations under the EPC Contract.
Examples of EPC Contract Security in a sentence
At any time, Letters of Credit representing Development Security, the Delivery Term Security, the EPC Contract Security or the Mitigation Land Security or the LGIA Surety Bonds shall not be maintained in the amounts required pursuant to the terms of this Loan Guarantee Agreement (subject to the applicable reductions and releases under the Major Project Documents).
DOE shall have received evidence that the Development Security, the Delivery Term Security, the EPC Contract Security, the Mitigation Land Security and the LGIA Surety Bonds shall have been posted in the form of Letters of Credit, in each case, in form and substance reasonably satisfactory to DOE.