Performance Assurance definition

Performance Assurance means collateral in the form of cash, letters of credit, or other security acceptable to the requesting Party.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Performance Assurance means collateral in the form of cash or letters of credit, or other security acceptable to the requesting Party.

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

If the Parties enter into a Performance Assurance Plan under this Agreement, nothing in this Section 5.8.2 shall limit amounts due and owing under any Performance Assurance Plan or any penalties associated with Docket No. UT-991358.
If the Parties enter into a Performance Assurance Plan under this Agreement nothing in this Section 5.8.2 shall limit amounts due and owing under any Performance Assurance Plan or any penalties associated with Docket No. UT 991358.
In the event that Seller, as the defaulting Party, fails to pay the Termination Payment in full within the time period set forth in Section 11.7, the Buyer may draw upon any Performance Assurance provided by the Seller hereunder to satisfy the unpaid portion of the Termination Payment.
In the event that the Buyer is the indemnified party hereunder, it may draw upon any Performance Assurance to satisfy the unpaid portion of any such indemnity claim.
If the Parties enter into a Performance Assurance Plan under this Agreement, nothing in this Section 5.8.2 shall limit amounts due and owing under any Performance Assurance Plan.

More Definitions of Performance Assurance

Performance Assurance. The definition of “Performance Assurance” in Section 1.45 is replaced in its entirety, as follows:

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.” 9. Section 1.50—“Recording”: Delete the reference to “Section 2.4” and replace it with “Section 2.5”.

Performance Assurance means collateral provided by Seller to Buyer to secure Seller’s obligations hereunder and includes Project Development Security and Delivery Term Security. Acceptable forms of collateral are cash or a Letter of Credit. A Form of Letter of Credit is attached hereto in Appendix I.

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 provided by Seller to Buyer to secure Seller’s obligations hereunder and includes Project Development Security and Delivery Term Security.

Performance Assurance means either cash (US$) or a Letter of Credit.

Performance Assurance means collateral in the form of cash, Letter of Credit, Guaranty Agreement or other security acceptable to Buyer in its sole discretion required to be provided to Buyer under Section 11.2.