Initial Contract Security. No more than five (5) Business Days after the Effective Date, unless otherwise agreed to by NYSERDA, Seller must provide Contract Security, in the form of cash, certified funds, a Letter of Credit conforming to the requirements of Section 15.03, or an Acceptable Guaranty conforming to the requirements of Section 15.05, in an amount equal to the product of the Offer Capacity (in MW) and five thousand dollars ($5,000). Seller may provide the Contract Security through any combination of the forms set forth in the preceding sentence.
Initial Contract Security. On or before the Effective Date, unless otherwise agreed to by NYSERDA, Seller must provide Contract Security, in the form of cash, certified funds or a Letter of Credit conforming to the requirements of Section 15.03, in an amount equal to the product of the Offer Capacity (in MW) and five thousand dollars ($5,000).
Initial Contract Security. No more than five (5) Business Days after the Effective Date, unless otherwise agreed to by NYSERDA, Seller must provide Contract Security, in the form of cash, certified funds, a Letter of Credit conforming to the requirements of Section 15.03, or an Acceptable Guaranty conforming to the requirements of Section 15.05, in an amount equal to the product of the Offer Capacity (in MW) and forty thousand dollars ($40,000) [plus an additional [AMOUNT] representing the amount of contract security required pursuant to the terminated Offshore Wind Renewable Energy Certificate Purchase and Sale Agreement dated [DATE] by and between the Parties]. Seller may provide the Contract Security through any combination of the forms set forth in the preceding sentence.
