Common use of Grant of Security Interest/Remedies Clause in Contracts

Grant of Security Interest/Remedies. To secure its obligations under this Agreement and to the extent that the DS Supplier posted performance assurance collateral to cover Margin hereunder, the DS Supplier hereby grants to the Company a present and continuing security interest in, and lien on (and right of setoff against), and assignment of, all cash collateral and cash equivalent collateral and any and all proceeds resulting therefrom or the liquidation thereof, whether now or hereafter held by, on behalf of, or for the benefit of, the Company, and the DS Supplier and the Company agree to take such action as is reasonably required to perfect the secured Party’s first priority security interest in, and lien on (and right of setoff against), such collateral and any and all proceeds resulting therefrom or from the liquidation thereof. Upon or any time after the occurrence or deemed occurrence and during the continuation of an Event of Default or an Early Termination Date, the Company may do any one or more of the following: (i) exercise any of the rights and remedies of the Company with respect to all collateral, including any such rights and remedies under law then in effect; (ii) exercise its rights of setoff against any and all property of the DS Supplier in the possession of the Company whether held in connection with this Agreement or any other agreement(s) between the Company and the DS Supplier for the provision of DS Supply; (iii) draw on any outstanding letter of credit issued for its benefit; and (iv) liquidate all security held by or for the benefit of the Company free from any claim or right of any nature whatsoever of the DS Supplier, including any equity or right of purchase or redemption by the DS Supplier. The Company shall apply the proceeds of the collateral realized upon the exercise of such rights or remedies to reduce the DS Supplier’s obligation under this Agreement or any other agreement(s) between the Company and the DS Supplier for the provision of DS Supply (the DS Supplier remaining liable for any amounts owing to the Company after such application), subject to the Company’s obligation to return any surplus proceeds remaining after such obligations are satisfied in full. All notices, demands or requests regarding credit requirements and credit related security or deposit transfers shall be in writing and shall be personally delivered or sent by overnight express mail, courier service or facsimile transmission (with the original transmitted by any of the other aforementioned delivery methods) addressed as follows: If to a DS Supplier to: Copy to: If to the Company to: Copy to: Notice received after the close of the Business Day shall be deemed received on the next Business Day; provided that notice by facsimile transmission shall be deemed to have been received by the recipient if the recipient confirms receipt telephonically or in writing.

Grant of Security Interest/Remedies. To secure its obligations under this Agreement and to the extent that the DS Supplier posted performance assurance collateral to cover Margin hereunderAgreement, the DS SSO Supplier hereby grants to the Company Companies a present and continuing security interest in, and lien on (and right of setoff against), its right, title and assignment ofinterest, whether now owned or hereafter acquired or arising, in (i) all cash collateral deposit accounts in the name of any Company or partially in the name of any Company or held for the benefit of any Company and cash equivalent collateral and all funds credited to any and all of the foregoing, (ii) all securities, instruments (including promissory notes), money (each of the foregoing terms as defined in the UCC), cash and other tangible property delivered to and held by any Company (or its agents or custodians) and (iii) all proceeds resulting therefrom or (as defined in the liquidation thereof, whether now or hereafter held by, on behalf of, or for UCC) of any and all of the benefit of, the Company, and the DS foregoing. The SSO Supplier and the Company agree agrees to take such action as is reasonably required to create and perfect the secured Party’s Companies' first priority security interest in, and lien on (and right of setoff against), such collateral and any and all proceeds resulting therefrom or from the liquidation thereof. Upon or at any time after the occurrence or deemed occurrence and during the continuation of an Event of Default where an SSO Supplier is the Defaulting Party or an Early Termination DateDate (whether or not such SSO Supplier was the Defaulting Party), the Company Companies may do any one or more of the followingfollowing in any order: (i) exercise any of the rights and remedies of the Company Companies, including the right to set-off and liquidation, against any and all ICR Collateral, Margin Collateral or other collateral of such SSO Supplier in the possession of the Companies, whether held in connection with respect to all collateralthis Agreement or any Other SSO Supply Agreement, including any such rights and remedies under law then in effect; (ii) exercise its rights of setoff against any and all property of the DS Supplier in the possession of the Company whether held in connection with this Agreement or any other agreement(s) between the Company and the DS Supplier for the provision of DS Supply; (iii) draw on any outstanding letter of credit issued for its benefit; and (iv) liquidate all security held by or for the benefit of the Company , free from any claim or right of any nature whatsoever of the DS such SSO Supplier, including ; (ii) draw on any equity outstanding Letter of Credit provided by such SSO Supplier and (iii) exercise any and all rights remedies available to it under and against any First Mortgage Bonds delivered or right of purchase or redemption by the DS Supplierpledged in accordance with Section 6.9(c). The Company shall Companies will apply the proceeds of the collateral realized upon the exercise of such rights or remedies to reduce the DS such SSO Supplier’s obligation under this Agreement or and under any other agreement(s) between the Company Other SSO Supply Agreement, and the DS such SSO Supplier for the provision of DS Supply (the DS Supplier remaining shall remain liable for any amounts owing to the Company Companies after such application), subject to the Company’s Companies’ obligation to return any surplus proceeds remaining after all such obligations are satisfied in full. All notices, demands or requests regarding credit requirements and credit credit-related security or deposit transfers shall be sent in writing and shall be personally delivered or sent by overnight express mail, courier service or facsimile transmission (accordance with the original transmitted by any of the other aforementioned delivery methods) addressed as follows: If to a DS Supplier to: Copy to: If to the Company to: Copy to: Notice received after the close of the Business Day shall be deemed received on the next Business Day; provided that notice by facsimile transmission shall be deemed to have been received by the recipient if the recipient confirms receipt telephonically or in writingSection 13.1.

Grant of Security Interest/Remedies. To secure its obligations under this Agreement and to the extent that the DS Supplier posted performance assurance collateral to cover Margin hereunder, the DS Supplier hereby grants to the Company a present and continuing security interest in, and lien on (and right of setoff against), and assignment of, all cash collateral and cash equivalent collateral and any and all proceeds resulting therefrom or the liquidation thereof, whether now or hereafter held by, on behalf of, or for the benefit of, the Company, and the DS Supplier and the Company agree to take such action as is reasonably required to perfect the secured Party’s first priority security interest in, and lien on (and right of setoff against), such collateral and any and all proceeds resulting therefrom or from the liquidation thereof. Upon or any time after the occurrence or deemed occurrence and during the continuation of an Event of Default or an Early Termination Date, the Company may do any one or more of the following: (i) exercise any of the rights and remedies of the Company with respect to all collateral, including any such rights and remedies under law then in effect; (ii) exercise its rights of setoff against any and all property of the DS Supplier in the possession of the Company whether held in connection with this Agreement or any other agreement(s) between the Company and the DS Supplier for the provision of DS Supply; (iii) draw on any outstanding letter of credit issued for its benefit; and (iv) liquidate all security held by or for the benefit of the Company free from any claim or right of any nature whatsoever of the DS Supplier, including any equity or right of purchase or redemption by the DS Supplier. The Company shall apply the proceeds of the collateral realized upon the exercise of such rights or remedies to reduce the DS Supplier’s obligation under this Agreement or any other agreement(s) between the Company and the DS Supplier for the provision of DS Supply (the DS Supplier remaining liable for any amounts owing to the Company after such application), subject to the Company’s obligation to return any surplus proceeds remaining after such obligations are satisfied in full. All notices, demands or requests regarding credit requirements and credit related security or deposit transfers shall be in writing and shall be personally delivered or sent by overnight express mail, courier service or facsimile transmission (with the original transmitted by any of the other aforementioned delivery methods) addressed as follows: If to a DS Supplier to: Copy to: If to the Company to: Attn: Xxxxx Xxxxxx – Snr. Manager, Credit Risk Xxx Xxxxx Xxxxx Xxxxxx, XX0, Xxxxxxxxx, XX 00000 Copy to: Xxxxx X. Xxxxxxx – Supervisor, Energy Procurement Xxx Xxxxx Xxxxx Xxxxxx, XXXX0, Xxxxxxxxx, XX 00000 Notice received after the close of the Business Day shall be deemed received on the next Business Day; provided that notice by facsimile transmission shall be deemed to have been received by the recipient if the recipient confirms receipt telephonically or in writing.

Grant of Security Interest/Remedies. To secure its obligations under this Agreement and to the extent that the DS Supplier posted performance assurance Margin/collateral to cover Margin hereunder, the DS Supplier hereby grants to the Company a present and continuing security interest in, and lien on (and right of setoff against), and assignment of, all cash collateral and cash equivalent collateral and any and all proceeds resulting therefrom or the liquidation thereof, whether now or hereafter held by, on behalf of, or for the benefit of, the Company, and the DS Supplier and the Company agree to take such action as is reasonably required to perfect the secured Party’s first priority security interest in, and lien on (and right of setoff against), such collateral and any and all proceeds resulting therefrom or from the liquidation thereof. Upon or any time after the occurrence or deemed occurrence and during the continuation of an Event of Default or an Early Termination Date, the Company may do any one or more of the following: (i) exercise any of the rights and remedies of the Company with respect to all collateral, including any such rights and remedies under law then in effect; (ii) exercise its rights of setoff against any and all property of the DS Supplier in the possession of the Company Company, whether held in connection with this Agreement or any other agreement(s) between the Company and the DS Supplier for the provision of DS Supply; (iii) draw on any outstanding letter of credit issued for its benefit; and (iv) liquidate all security held by or for the benefit of the Company free from any claim or right of any nature whatsoever of the DS Supplier, including any equity or right of purchase or redemption by the DS Supplier. The Company shall apply the proceeds of the collateral realized upon the exercise of such rights or remedies to reduce the DS Supplier’s obligation under this Agreement or any other agreement(s) between the Company and the DS Supplier for the provision of DS Supply (the DS Supplier remaining liable for any amounts owing to the Company after such application), subject to the Company’s obligation to return any surplus proceeds remaining after such obligations are satisfied in full. All notices, demands or requests regarding credit requirements and credit related security or deposit transfers shall be in writing and shall be personally delivered or sent by overnight express mail, courier service or facsimile transmission (with the original transmitted by any of the other aforementioned delivery methods) addressed as follows: If to a DS Supplier to: Copy to: If to the Company to: Xxxxx X. Xxxxxxxx, Assistant Treasurer Duquesne Light Company 000 Xxxxxxx Xxxxxx, Xxxxxxxxxx, XX 00000 Copy to: Xxxx Xxxxxxx, Procurement Analyst Duquesne Light Company 000 Xxxxxxx Xxxxxx, Xxxxxxxxxx, XX 00000 Notice received after the close of the Business Day shall be deemed received on the next Business Day; provided that notice by facsimile transmission shall be deemed to have been received by the recipient if the recipient confirms receipt telephonically or in writing.

Grant of Security Interest/Remedies. ‌ To secure its obligations under this Agreement and to the extent that the DS Supplier posted performance assurance Margin/collateral to cover Margin hereunder, the DS Supplier hereby grants to the Company a present and continuing security interest in, and lien on (and right of setoff against), and assignment of, all cash collateral and cash equivalent collateral and any and all proceeds resulting therefrom or the liquidation thereof, whether now or hereafter held by, on behalf of, or for the benefit of, the Company, and the DS Supplier and the Company agree to take such action as is reasonably required to perfect the secured Party’s first priority security interest in, and lien on (and right of setoff against), such collateral and any and all proceeds resulting therefrom or from the liquidation thereof. Upon or any time after the occurrence or deemed occurrence and during the continuation of an Event of Default or an Early Termination Date, the Company may do any one or more of the following: (i) exercise any of the rights and remedies of the Company with respect to all collateral, including any such rights and remedies under law then in effect; (ii) exercise its rights of setoff against any and all property of the DS Supplier in the possession of the Company whether held in connection with this Agreement or any other agreement(s) between the Company and the DS Supplier for the provision of DS Supply; (iii) draw on any outstanding letter of credit issued for its benefit; and (iv) liquidate all security held by or for the benefit of the Company free from any claim or right of any nature whatsoever of the DS Supplier, including any equity or right of purchase or redemption by the DS Supplier. The Company shall apply the proceeds of the collateral realized upon the exercise of such rights or remedies to reduce the DS Supplier’s obligation under this Agreement or any other agreement(s) between the Company and the DS Supplier for the provision of DS Supply (the DS Supplier remaining liable for any amounts owing to the Company after such application), subject to the Company’s obligation to return any surplus proceeds remaining after such obligations are satisfied in full. All notices, demands or requests regarding credit requirements and credit related security or deposit transfers shall be in writing and shall be personally delivered or sent by overnight express mail, courier service or facsimile transmission (with the original transmitted by any of the other aforementioned delivery methods) addressed as follows: If to a DS Supplier to: Copy to: If to the Company to: FirstEnergy Corp. 000 Xxxxx Xxxx Xxxxx Xxxxx, XX 00000 Attn: Credit Risk Management Phone: (000) 000-0000(330) 000 0000 Facsimile: (000) 000-0000 Email: xxxxxx@xxxxxxxxxxxxxxx.xxxXxxxxx_Xxxx@xxxxxxxxxxxxxxx.xxx Copy to: FirstEnergy Corp. P.O. Box 16001 Reading, PA 19612-6001 Attn: Xxxx Xxxxxxx Supervising CounselAssociate General Counsel Phone: (000) 000-0000 Facsimile: (000) 000-0000 Email: xxxxxxxx@xxxxxxxxxxxxxxx.xxx Notice received after the close of the Business Day shall be deemed received on the next Business Day; provided that notice by facsimile transmission shall be deemed to have been received by the recipient if the recipient confirms receipt telephonically or in writing.

Grant of Security Interest/Remedies. ‌ To secure its obligations under this Agreement and to the extent that the DS Supplier posted performance assurance Margin/collateral to cover Margin hereunder, the DS Supplier hereby grants to the Company a present and continuing security interest in, and lien on (and right of setoff against), and assignment of, all cash collateral and cash equivalent collateral and any and all proceeds resulting therefrom or the liquidation thereof, whether now or hereafter held by, on behalf of, or for the benefit of, the Company, and the DS Supplier and the Company agree to take such action as is reasonably required to perfect the secured Party’s first priority security interest in, and lien on (and right of setoff against), such collateral and any and all proceeds resulting therefrom or from the liquidation thereof. Upon or any time after the occurrence or deemed occurrence and during the continuation of an Event of Default or an Early Termination Date, the Company may do any one or more of the following: (i) exercise any of the rights and remedies of the Company with respect to all collateral, including any such rights and remedies under law then in effect; (ii) exercise its rights of setoff against any and all property of the DS Supplier in the possession of the Company whether held in connection with this Agreement or any other agreement(s) between the Company and the DS Supplier for the provision of DS Supply; (iii) draw on any outstanding letter of credit issued for its benefit; and (iv) liquidate all security held by or for the benefit of the Company free from any claim or right of any nature whatsoever of the DS Supplier, including any equity or right of purchase or redemption by the DS Supplier. The Company shall apply the proceeds of the collateral realized upon the exercise of such rights or remedies to reduce the DS Supplier’s obligation under this Agreement or any other agreement(s) between the Company and the DS Supplier for the provision of DS Supply (the DS Supplier remaining liable for any amounts owing to the Company after such application), subject to the Company’s obligation to return any surplus proceeds remaining after such obligations are satisfied in full. All notices, demands or requests regarding credit requirements and credit related security or deposit transfers shall be in writing and shall be personally delivered or sent by overnight express mail, courier service or facsimile transmission (with the original transmitted by any of the other aforementioned delivery methods) addressed as follows: If to a DS Supplier to: Copy to: If to the Company to: FirstEnergy Corp. 000 Xxxxx Xxxx Xxxxx Xxxxx, XX 00000 Attn: Credit Risk Management Phone: (000) 000-0000 Facsimile: (000) 000-0000 Email: Xxxxxx_Xxxx@xxxxxxxxxxxxxxx.xxx Copy to: FirstEnergy Corp. X.X. Xxx00000 Xxxxxxx, XX 00000-0000 Attn: Xxxx Xxxxxxx Associate General Counsel Phone: (000) 000-0000 Facsimile: (000) 000-0000 Email: xxxxxxxx@xxxxxxxxxxxxxxx.xxx Notice received after the close of the Business Day shall be deemed received on the next Business Day; provided that notice by facsimile transmission shall be deemed to have been received by the recipient if the recipient confirms receipt telephonically or in writing.

Grant of Security Interest/Remedies. ‌ To secure its obligations under this Agreement and to the extent that the DS Supplier posted performance assurance Margin/collateral to cover Margin hereunder, the DS Supplier hereby grants to the Company a present and continuing security interest in, and lien on (and right of setoff against), and assignment of, all cash collateral and cash equivalent collateral and any and all proceeds resulting therefrom or the liquidation thereof, whether now or hereafter held by, on behalf of, or for the benefit of, the Company, and the DS Supplier and the Company agree to take such action as is reasonably required to perfect the secured Party’s first priority security interest in, and lien on (and right of setoff against), such collateral and any and all proceeds resulting therefrom or from the liquidation thereof. Upon or any time after the occurrence or deemed occurrence and during the continuation of an Event of Default or an Early Termination Date, the Company may do any one or more of the following: (i) exercise any of the rights and remedies of the Company with respect to all collateral, including any such rights and remedies under law then in effect; (ii) exercise its rights of setoff against any and all property of the DS Supplier in the possession of the Company Company, whether held in connection with this Agreement or any other agreement(s) between the Company and the DS Supplier for the provision of DS Supply; (iii) draw on any outstanding letter of credit issued for its benefit; and (iv) liquidate all security held by or for the benefit of the Company free from any claim or right of any nature whatsoever of the DS Supplier, including any equity or right of purchase or redemption by the DS Supplier. The Company shall apply the proceeds of the collateral realized upon the exercise of such rights or remedies to reduce the DS Supplier’s obligation under this Agreement or any other agreement(s) between the Company and the DS Supplier for the provision of DS Supply (the DS Supplier remaining liable for any amounts owing to the Company after such application), subject to the Company’s obligation to return any surplus proceeds remaining after such obligations are satisfied in full. All notices, demands or requests regarding credit requirements and credit related security or deposit transfers shall be in writing and shall be personally delivered or sent by overnight express mail, courier service or facsimile electronic mail transmission (with the original transmitted by any of the other aforementioned delivery methods, unless agreed to otherwise by the parties) addressed as follows: If to a DS Supplier to: Copy to: If to the Company to: Xxxxx X. Xxxxxxxx, Treasurer Duquesne Light Company Mail Drop 7-3 000 Xxxxxxx Xxxxxx, Xxxxxxxxxx, XX 00000 xxxxxxxxx@xxxxxxxx.xxx Copy to: Energy Procurement Mail Drop 15-1 Duquesne Light Company 000 Xxxxxxx Xxxxxx, Xxxxxxxxxx, XX 00000 xxxxxxxxxxxx@xxxxxxxx.xxx Notice received after the close of the Business Day shall be deemed received on the next Business Day; provided that notice by facsimile electronic mail transmission shall be deemed to have been received by the recipient if the recipient confirms receipt telephonically or telephonically, in writing, or by responding in the same electronic mail conversation chain.

Grant of Security Interest/Remedies. To secure its obligations under this Agreement and to the extent that Buyer delivers Performance Assurance in the DS Supplier posted performance assurance collateral to cover Margin form of cash hereunder, the DS Supplier Buyer hereby grants to the Company Seller a present and continuing security interest in, and lien on (and right of setoff against), and assignment of, all cash collateral and cash equivalent collateral such Performance Assurance and any and all proceeds resulting therefrom or the liquidation thereof, whether now or hereafter held by, on behalf of, or for the benefit of, the CompanySeller, and the DS Supplier and the Company agree each Party agrees to take such action as is the other Party reasonably required requires in order to perfect the secured PartySeller’s first first-priority security interest in, and lien on (and right of setoff against), such collateral and any and all proceeds resulting therefrom or from the liquidation thereof. Upon or any time after the occurrence or deemed occurrence and during the continuation of an Event of Default or an Early Termination Date, and Seller is the Company Non-Defaulting Party, Seller may do any one or more of the following: (i) exercise any of the rights and remedies of the Company a secured party with respect to all collateralPerformance Assurance, as applicable, including any such rights and remedies under law Law then in effect; (ii) exercise its rights of setoff against any and all property of the DS Supplier in the possession of the Company whether held in connection with this Agreement or any other agreement(s) between the Company and the DS Supplier for the provision of DS Supply; (iii) draw on any outstanding letter Letter of credit Credit issued for its benefit; and (iviii) liquidate all security Performance Assurance then held by or for the benefit of the Company Seller free from any claim or right of any nature whatsoever of Buyer except the DS Supplier, including any equity or right of purchase or redemption by the DS Supplierto receive surplus proceeds described below in this subsection. The Company Seller shall apply the proceeds of the collateral realized upon the exercise of any such rights or remedies to reduce Buyer’s obligations under the DS Supplier’s obligation under this Agreement or any other agreement(s) between the Company and the DS Supplier for the provision of DS Supply (the DS Supplier Buyer remaining liable for any amounts owing to the Company Seller after such application), subject to the Company’s obligation to . Seller shall return any surplus proceeds from the realization of collateral described in this subsection remaining after such obligations are satisfied in full. All notices, demands or requests regarding credit requirements and credit related security or deposit transfers shall be in writing full and shall be personally delivered or sent by overnight express mail, courier service or facsimile transmission (promptly provide Buyer with a written statement explaining in reasonable detail the original transmitted by any calculation of such amount and the other aforementioned delivery methods) addressed as follows: If to a DS Supplier to: Copy to: If to the Company to: Copy to: Notice received after the close of the Business Day shall be deemed received on the next Business Day; provided that notice by facsimile transmission shall be deemed to have been received by the recipient if the recipient confirms receipt telephonically or in writingsources for such calculation.

Grant of Security Interest/Remedies. To secure its obligations under this Agreement and to the extent that the DS Supplier posted performance assurance Margin/collateral to cover Margin hereunder, the DS Supplier hereby grants to the Company a present and continuing security interest in, and lien on (and right of setoff against), and assignment of, all cash collateral and cash equivalent collateral and any and all proceeds resulting therefrom or the liquidation thereof, whether now or hereafter held by, on behalf of, or for the benefit of, the Company, and the DS Supplier and the Company agree to take such action as is reasonably required to perfect the secured Party’s first priority security interest in, and lien on (and right of setoff against), such collateral and any and all proceeds resulting therefrom or from the liquidation thereof. Upon or any time after the occurrence or deemed occurrence and during the continuation of an Event of Default or an Early Termination Date, the Company may do any one or more of the following: (i) exercise any of the rights and remedies of the Company with respect to all collateral, including any such rights and remedies under law then in effect; (ii) exercise its rights of setoff against any and all property of the DS Supplier in the possession of the Company whether held in connection with this Agreement or any other agreement(s) between the Company and the DS Supplier for the provision of DS Supply; (iii) draw on any outstanding letter of credit issued for its benefit; and (iv) liquidate all security held by or for the benefit of the Company free from any claim or right of any nature whatsoever of the DS Supplier, including any equity or right of purchase or redemption by the DS Supplier. The Company shall apply the proceeds of the collateral realized upon the exercise of such rights or remedies to reduce the DS Supplier’s obligation under this Agreement or any other agreement(s) between the Company and the DS Supplier for the provision of DS Supply (the DS Supplier remaining liable for any amounts owing to the Company after such application), subject to the Company’s obligation to return any surplus proceeds remaining after such obligations are satisfied in full. All notices, demands or requests regarding credit requirements and credit related security or deposit transfers shall be in writing and shall be personally delivered or sent by overnight express mail, courier service or facsimile transmission (with the original transmitted by any of the other aforementioned delivery methods) addressed as follows: If to a DS Supplier to: Copy to: If to the Company to: FirstEnergy Corp. 000 Xxxxx Xxxx Xxxxx Xxxxx, XX 00000 Attn: Credit Risk Management Phone: (000) 000-0000 Facsimile: (000) 000-0000 Email: Xxxxxx_Xxxx@xxxxxxxxxxxxxxx.xxx Copy to: FirstEnergy Corp. X.X. Xxx00000 Xxxxxxx, XX 00000-0000 Attn: Xxxx Xxxxxxx Associate General Counsel Phone: (000) 000-0000 Facsimile: (000) 000-0000 Email: xxxxxxxx@xxxxxxxxxxxxxxx.xxx Notice received after the close of the Business Day shall be deemed received on the next Business Day; provided that notice by facsimile transmission shall be deemed to have been received by the recipient if the recipient confirms receipt telephonically or in writing.

Grant of Security Interest/Remedies. To secure its obligations under this Agreement and to the extent that the DS Supplier posted performance assurance collateral to cover Margin hereunder, the DS Supplier hereby grants to the Company a present and continuing security interest in, and lien on (and right of setoff against), and assignment of, all cash collateral and cash equivalent collateral and any and all proceeds resulting therefrom or the liquidation thereof, whether now or hereafter held by, on behalf of, or for the benefit of, the Company, and the DS Supplier and the Company agree to take such action as is reasonably required to perfect the secured Party’s first priority security interest in, and lien on (and right of setoff against), such collateral and any and all proceeds resulting therefrom or from the liquidation thereof. Upon or any time after the occurrence or deemed occurrence and during the continuation of an Event of Default or an Early Termination Date, the Company may do any one or more of the following: (i) exercise any of the rights and remedies of the Company with respect to all collateral, including any such rights and remedies under law then in effect; (ii) exercise its rights of setoff against any and all property of the DS Supplier in the possession of the Company whether held in connection with this Agreement or any other agreement(s) between the Company and the DS Supplier for the provision of DS Supply; (iii) draw on any outstanding letter of credit issued for its benefit; and (iv) liquidate all security held by or for the benefit of the Company free from any claim or right of any nature whatsoever of the DS Supplier, including any equity or right of purchase or redemption by the DS Supplier. The Company shall apply the proceeds of the collateral realized upon the exercise of such rights or remedies to reduce the DS Supplier’s obligation under this Agreement or any other agreement(s) between the Company and the DS Supplier for the provision of DS Supply (the DS Supplier remaining liable for any amounts owing to the Company after such application), subject to the Company’s obligation to return any surplus proceeds remaining after such obligations are satisfied in full. full.‌ All notices, demands or requests regarding credit requirements and credit related security or deposit transfers shall be in writing and shall be personally delivered or sent by overnight express mail, courier service or facsimile transmission (with the original transmitted by any of the other aforementioned delivery methods) addressed as follows: If to a DS Supplier to: Copy to: If to the Company to: Copy to: Notice received after the close of the Business Day shall be deemed received on the next Business Day; provided that notice by facsimile transmission shall be deemed to have been received by the recipient if the recipient confirms receipt telephonically or in writing.

Grant of Security Interest/Remedies. To secure its obligations under this Agreement and to the extent that the DS Supplier posted performance assurance collateral to cover Margin hereunder, the DS Supplier hereby grants to the Company a present and continuing security interest in, and lien on (and right of setoff against), and assignment of, all cash collateral and cash equivalent collateral and any and all proceeds resulting therefrom or the liquidation thereof, whether now or hereafter held by, on behalf of, or for the benefit of, the Company, and the DS Supplier and the Company agree to take such action as is reasonably required to perfect the secured Party’s first priority security interest in, and lien on (and right of setoff against), such collateral and any and all proceeds resulting therefrom or from the liquidation thereof. Upon or any time after the occurrence or deemed occurrence and during the continuation of an Event of Default or an Early Termination Date, the Company may do any one or more of the following: (i) exercise any of the rights and remedies of the Company with respect to all collateral, including any such rights and remedies under law then in effect; (ii) exercise its rights of setoff against any and all property of the DS Supplier in the possession of the Company whether held in connection with this Agreement or any other agreement(s) between the Company and the DS Supplier for the provision of DS Supply; (iii) draw on any outstanding letter of credit issued for its benefit; and (iv) liquidate all security held by or for the benefit of the Company free from any claim or right of any nature whatsoever of the DS Supplier, including any equity or right of purchase or redemption by the DS Supplier. The Company shall apply the proceeds of the collateral realized upon the exercise of such rights or remedies to reduce the DS Supplier’s obligation under this Agreement or any other agreement(s) between the Company and the DS Supplier for the provision of DS Supply (the DS Supplier remaining liable for any amounts owing to the Company after such application), subject to the Company’s obligation to return any surplus proceeds remaining after such obligations are satisfied in full. All notices, demands or requests regarding credit requirements and credit related security or deposit transfers between a DS Supplier and the Company, other than posting or delivery of an LOC that allows for electronic issuance and presentation of documents (on the form provided in Exhibit 4b), which LOC will be posted and delivered by electronic issuance in accordance with the terms of such LOC), shall be in writing and shall be personally delivered or sent by overnight express mail, courier service or facsimile electronic transmission (with the original transmitted by any of the other aforementioned delivery methods) addressed as follows: If to a DS Supplier to:   Copy to:   If to the Company to: Attn: Xxxxxxx Xxxx – Manager XX&X Xxx Xxxxx Xxxxx Xxxxxx, XX00, Xxxxxxxxx, XX 00000 Copy to: Xxxxx X. Xxxxxxx – Regulatory Policy Manager Xxx Xxxxx Xxxxx Xxxxxx, XX00, Xxxxxxxxx, XX 00000 Notice received after the close of the Business Day shall be deemed received on the next Business Day; provided that notice by facsimile electronic transmission shall be deemed to have been received by the recipient if the recipient confirms receipt telephonically or in writing.

Grant of Security Interest/Remedies. To secure its obligations under this Agreement and to the extent that the DS Supplier posted performance assurance Margin/collateral to cover Margin hereunder, the DS Supplier hereby grants to the Company a present and continuing security interest in, and lien on (and right of setoff against), and assignment of, all cash collateral and cash equivalent collateral and any and all proceeds resulting therefrom or the liquidation thereof, whether now or hereafter held by, on behalf of, or for the benefit of, the Company, and the DS Supplier and the Company agree to take such action as is reasonably required to perfect the secured Party’s first priority security interest in, and lien on (and right of setoff against), such collateral and any and all proceeds resulting therefrom or from the liquidation thereof. Upon or any time after the occurrence or deemed occurrence and during the continuation of an Event of Default or an Early Termination Date, the Company may do any one or more of the following: (i) exercise any of the rights and remedies of the Company with respect to all collateral, including any such rights and remedies under law then in effect; (ii) exercise its rights of setoff against any and all property of the DS Supplier in the possession of the Company whether held in connection with this Agreement or any other agreement(s) between the Company and the DS Supplier for the provision of DS Supply; (iii) draw on any outstanding letter of credit issued for its benefit; and (iv) liquidate all security held by or for the benefit of the Company free from any claim or right of any nature whatsoever of the DS Supplier, including any equity or right of purchase or redemption by the DS Supplier. The Company shall apply the proceeds of the collateral realized upon the exercise of such rights or remedies to reduce the DS Supplier’s obligation under this Agreement or any other agreement(s) between the Company and the DS Supplier for the provision of DS Supply (the DS Supplier remaining liable for any amounts owing to the Company after such application), subject to the Company’s obligation to return any surplus proceeds remaining after such obligations are satisfied in full. All notices, demands or requests regarding credit requirements and credit related security or deposit transfers shall be in writing and shall be personally delivered or sent by overnight express mail, courier service or facsimile transmission (with the original transmitted by any of the other aforementioned delivery methods) addressed as follows: If to a DS Supplier to: Copy to: If to the Company to: FirstEnergy Corp. 000 Xxxxx Xxxx Xxxxx Xxxxx, XX 00000 Attn: Xxx Xxxxxxx Credit Analyst Phone: (000) 000-0000 Facsimile: (000)000-0000 Email: xxxxxxxx@xxxxxxxxxxxxxxx.xxx Copy to: FirstEnergy Corp. X.X. Xxx00000 Xxxxxxx, XX 00000-0000 Attn: Xxxx Xxxxxxx Associate General Counsel Phone: (000) 000-0000 Facsimile: (000) 000-0000 Email: xxxxxxxx@xxxxxxxxxxxxxxx.xxx Notice received after the close of the Business Day shall be deemed received on the next Business Day; provided that notice by facsimile transmission shall be deemed to have been received by the recipient if the recipient confirms receipt telephonically or in writing.

Grant of Security Interest/Remedies. To secure its obligations under this Agreement and to the extent that the DS TOU Supplier posted performance assurance collateral to cover Margin hereunder, the DS TOU Supplier hereby grants to the Company a present and continuing security interest in, and lien on (and right of setoff against), and assignment of, all cash collateral and cash equivalent collateral and any and all proceeds resulting therefrom or the liquidation thereof, whether now or hereafter held by, on behalf of, or for the benefit of, the Company, and the DS TOU Supplier and the Company agree to take such action as is reasonably required to perfect the secured Party’s first priority security interest in, and lien on (and right of setoff against), such collateral and any and all proceeds resulting therefrom or from the liquidation thereof. Upon or any time after the occurrence or deemed occurrence and during the continuation of an Event of Default or an Early Termination Date, the Company may do any one or more of the following: (i) exercise any of the rights and remedies of the Company with respect to all collateral, including any such rights and remedies under law then in effect; (ii) exercise its rights of setoff against any and all property of the DS TOU Supplier in the possession of the Company whether held in connection with this Agreement or any other agreement(s) between the Company and the DS TOU Supplier for the provision of DS TOU Supply; (iii) draw on any outstanding letter of credit issued for its benefit; and (iv) liquidate all security held by or for the benefit of the Company free from any claim or right of any nature whatsoever of the DS TOU Supplier, including any equity or right of purchase or redemption by the DS TOU Supplier. The Company shall apply the proceeds of the collateral realized upon the exercise of such rights or remedies to reduce the DS TOU Supplier’s obligation under this Agreement or any other agreement(s) between the Company and the DS TOU Supplier for the provision of DS TOU Supply (the DS TOU Supplier remaining liable for any amounts owing to the Company after such application), subject to the Company’s obligation to return any surplus proceeds remaining after such obligations are satisfied in full. All notices, demands or requests regarding credit requirements and credit related security or deposit transfers shall be in writing and shall be personally delivered or sent by overnight express mail, courier service or facsimile transmission (with the original transmitted by any of the other aforementioned delivery methods) addressed as follows: If to a DS TOU Supplier to: Copy to: If to the Company to: Attn: Xxxxx Xxxxx – Manager – FP&A Xxx Xxxxx Xxxxx Xxxxxx, XX0, Xxxxxxxxx, XX 00000 Copy to: Xxxxx X. Xxxxxxx – Regulatory Policy Manager Xxx Xxxxx Xxxxx Xxxxxx, XXXX0, Xxxxxxxxx, XX 00000 Notice received after the close of the Business Day shall be deemed received on the next Business Day; provided that notice by facsimile transmission shall be deemed to have been received by the recipient if the recipient confirms receipt telephonically or in writing.

Grant of Security Interest/Remedies. performance assurance collateral to cover Margin hereunder, the DS Deleted: Margin/ To secure its obligations under this Agreement and to the extent that the DS Supplier posted performance assurance collateral to cover Margin hereunder, the DS Supplier hereby grants to the Company a present and continuing security interest in, and lien on (and right of setoff against), and assignment of, all cash collateral and cash equivalent collateral and any and all proceeds resulting therefrom or the liquidation thereof, whether now or hereafter held by, on behalf of, or for the benefit of, the Company, and the DS Supplier and the Company agree to take such action as is reasonably required to perfect the secured Party’s first priority security interest in, and lien on (and right of setoff against), such collateral and any and all proceeds resulting therefrom or from the liquidation thereof. Upon or any time after the occurrence or deemed occurrence and during the continuation of an Event of Default or an Early Termination Date, the Company may do any one or more of the following: (i) exercise any of the rights and remedies of the Company with respect to all collateral, including any such rights and remedies under law then in effect; (ii) exercise its rights of setoff against any and all property of the DS Supplier in the possession of the Company whether held in connection with this Agreement or any other agreement(s) between the Company and the DS Supplier for the provision of DS Supply; (iii) draw on any outstanding letter of credit issued for its benefit; and (iv) liquidate all security held by or or‌ for the benefit of the Company free from any claim or right of any nature whatsoever of the DS Supplier, including any equity or right of purchase or redemption by the DS Supplier. The Company shall apply the proceeds of the collateral realized upon the exercise of such rights or remedies to reduce the DS Supplier’s obligation under this Agreement or any other agreement(s) between the Company and the DS Supplier for the provision of DS Supply (the DS Supplier remaining liable for any amounts owing to the Company after such application), subject to the Company’s obligation to return any surplus proceeds remaining after such obligations are satisfied in full. All notices, demands or requests regarding credit requirements and credit related security or deposit transfers shall be in writing and shall be personally delivered or sent by overnight express mail, courier service or facsimile transmission (with the original transmitted by any of the other aforementioned delivery methods) addressed as follows: If to a DS Supplier to: Copy to: If to the Company to: Copy to: Notice received after the close of the Business Day shall be deemed received on the next Business Day; provided that notice by facsimile transmission shall be deemed to have been received by the recipient if the recipient confirms receipt telephonically or in writing.