Development Period Security definition

Development Period Security shall have the meaning set forth in Section 6.1(a) hereof.
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Development Period Security. An amount equal to $50/kW of the Contract Capacity.
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Development Period Security means the Performance Assurance that Seller is required to maintain during the period and as otherwise specified in Section 8.4(a)[(i)/(ii)] to secure performance of its obligations hereunder.
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Examples of Development Period Security in a sentence

  • If the Development Period Security is at any time insufficient to pay the amount of the draw to which Company is then entitled, Seller shall pay any such deficiency to Company promptly upon demand.

  • Company shall draw upon the Development Period Security established pursuant to Section 7.1 (Security Fund) on a monthly basis for payment of the total Milestone Delay Damages and Daily Delay Damages incurred by Seller during the preceding Calendar Month.

  • Seller is required to post and maintain Development Period Security and Operating Period Security based on the requirements of this Article 7 (Credit Assurance and Security).

  • In the event Company receives notice from the issuing bank that a letter of credit for the Development Period Security or Operating Period Security will be cancelled or is set to expire and will not be extended, Company shall endeavor, but shall not be obligated, to provide Seller with notice of such cancellation or termination.

  • Buyer shall return any undrawn amount of the Development Period Security to Seller within thirty (30) days after the later of (x) Buyer’s receipt of an undisputed notice from Seller that the Commercial Operation Date has occurred or (y) Buyer’s receipt of the full amount of the Operating Period Security.


More Definitions of Development Period Security

Development Period Security has the meaning set forth in Section 14.1(a) (General).
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Development Period Security means collateral in the form of cash, which shall be provided by the Subscriber Organization to the EDC during the development of the SCEF;
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Development Period Security means collateral in the form of cash, which shall be provided by the Subscriber Organization to the EDC during the development of the SCEF. Development Period Security shall not earn interest;
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Development Period Security has the meaning set forth in Section 8.1(a). “Direct Claim” means any claim by an Indemnitee on account of an Indemnifiable Loss which does not result from a Third Party Claim.
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Development Period Security means a form of security posted by Seller in order to secure its obligations prior to the Commercial Operation of the Facility in an amount equal to $ 2,250,000, in the form of one or more of the following: (a) Letter of Credit, (b) a cash deposit, (c) a Parental Guarantee, or (d) such other form of credit support mutually agreed upon by the Parties, all of which shall be subject to the terms set forth in Section 9.3.
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Development Period Security means collateral in the form of (a) cash or (b) a letter of credit issued by a Qualified Bank in a form reasonably acceptable to the EDC, which shall be provided by the Subscriber Organization to the EDC;
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Development Period Security. An amount equal to $40/kW of the Committed Capacity.
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