Performance Assurance means collateral in the form of cash, letters of credit, or other security acceptable to the requesting Party.
Performance Assurance means collateral provided by Seller to Buyer to secure Seller’s obligations hereunder and includes Project Development Security and Delivery Term Security as applicable. Acceptable forms of collateral are cash or a Letter of Credit as designated in Section E of the Cover Sheet. The required form of Letter of Credit is attached hereto in Appendix I.
Performance Assurance means collateral (in the amount of the Performance Assurance Amount) for Seller’s performance under this Agreement in the form of cash, Letter(s) of Credit, or the Guaranty Agreement. Performance Assurance is only required to be posted by Seller if the Generating Facility is a New Qualifying Facility.
Examples of Performance Assurance in a sentence
GTT may, as a condition of providing new Services or continuing to provide Service, require Client to tender a Performance Assurance payment, if GTT reasonably determines that Client poses a material credit risk or Client has been late in paying invoices.
Any Services required by Client in excess of any such Performance Assurance payment will require Client to pre-pay or deposit an amount equal to or greater than the amount by which Client will exceed the Performance Assurance payment in order to continue using the Services.
More Definitions of Performance Assurance
Performance Assurance means all Eligible Collateral, all other property acceptable to the Party to which it is Transferred, and all proceeds thereof, that has been Transferred to or received by a Party hereunder and not subsequently Transferred to the other Party pursuant to Paragraph 5 or otherwise received by the other Party. Any Interest Amount or portion thereof not Transferred pursuant to Paragraph 6(a)(iii) will not constitute Performance Assurance. Any guaranty agreement executed by a Guarantor of a Party shall not constitute Performance Assurance hereunder.”
Performance Assurance. The definition of “Performance Assurance” in Section 1.45 is replaced in its entirety, as follows:
Performance Assurance means collateral provided by Seller to Buyer to secure Seller’s obligations hereunder and includes Project Development Security and Delivery Term Security.
Performance Assurance means collateral in the form of cash or Letter(s) of Credit from a Qualified Institution.
Performance Assurance means the collateral provided by Seller to Buyer pursuant to Article 4 to secure Seller’s obligations hereunder and includes [Project Development Security] and Delivery Term Security. [
Performance Assurance has the meaning set forth in Section 5.1(a). Performance Assurance must be in the form of Cash or Letter of Credit. Any Cash received and held by Buyer after drawing on any Letter of Credit will constitute Performance Assurance in the form of Cash.
Performance Assurance means either cash (US$) or a Letter of Credit.