Common use of Performance Assurance Clause in Contracts

Performance Assurance. Seller agrees to deliver to Buyer the Performance Assurance in a form acceptable to Buyer to secure its obligations under this Agreement as required herein. Seller shall maintain the Performance Assurance in full force and effect for the required posting period with Buyer. The amount of the Performance Assurance shall be equal to the Delivery Term Security amount minus Seller's Collateral Threshold. The Performance Assurance shall be delivered to Buyer no later than five (5) Business Days after the Execution Date. If after the Execution Date Buyer determines that there has been a change to the Seller’s Collateral Threshold and such change results in an increase to the amount of Performance Assurance required under this Section 10.4(b), Buyer shall provide Notice to Seller of the amount of such increase and Seller shall deliver to Buyer additional Performance Assurance in that amount no later than five (5) Business Days after the date of Buyer’s Notice.

Performance Assurance. Seller agrees to deliver to Buyer the Performance Assurance in a form acceptable to Buyer to secure its obligations under this Agreement as required herein. Seller shall maintain the Performance Assurance in full force and effect for the required posting period with Buyer. The amount of the Performance Assurance shall be equal to the Delivery Term Security amount minus Seller's ’s Collateral Threshold. The Performance Assurance shall be delivered to Buyer no later than five (5) Business Days after the Execution Date. If after the Execution Date Buyer determines that there has been a change to the Seller’s Collateral Threshold and such change results in an increase to the amount of Performance Assurance required under this Section 10.4(b), Buyer shall provide Notice to Seller of the amount of such increase and Seller shall deliver to Buyer additional Performance Assurance in that amount no later than five (5) Business Days after the date of Buyer’s Notice.