Operating Period Security definition

Operating Period Security shall have the meaning set forth in Section 6.1(b) hereof.

Operating Period Security. Shall have the meaning set forth in Section 14.4 (Operating Period Security).

Operating Period Security shall have the meaning set forth in Section 6.1(b) hereof. “Operative CPS Change” shall have the meaning set forth in Section 4.1(b) hereof.

Examples of Operating Period Security in a sentence

• 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.

• Seller shall provide such Operating Period Security to Company within five (5) Business Days after the Commercial Operations Date, provided that, at all times, some form of Security Funds shall be in place and available to Company, whether Development Period Security or Operating Period Security.

• Seller is required to post and maintain Development Period Security and Operating Period Security based on the requirements of this Article 14 (Credit Assurance and Security).

• 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.

• The Parties agree that if Seller has posted more than one type of Credit Support to Buyer, Seller can, in its sole discretion, select the type of Credit Support for Buyer to return; provided, however, that Buyer shall not be required to return the specified Credit Support if immediately after such return, Seller would be required to post additional Credit Support pursuant to the calculation of Operating Period Security.

More Definitions of Operating Period Security

Operating Period Security means collateral in the form of cash which shall be provided by the Subscriber Organization to the EDC during the operation of the SCEF;

Operating Period Security. The Operating Period Security shall be in the amount of $158,400 (which is equal to $40,000.00 per MWh per hour of Contract Maximum Amount), as adjusted in accordance with Section 3.3(b) and Section 3.3(c). If at any time on or after the Commercial Operation Date, the amount of Operating Period Security is reduced as a result of Buyer’s draw upon such Operating Period Security to less than the amount of Operating Period Security required to be provided by Seller, within five (5) Business Days after that draw Seller shall replenish such Operating Period Security to the amount required to be provided by Seller. Neither the Development Period Security nor the Operating Period Security includes any Default Credit Support, and the unused portion (if any) of such Default Credit Support will be returned to Seller within thirty (30) days after the earlier of (a) the cure of the related Default, or (b) the time Credit Support is required to be returned to Seller under Section

Operating Period Security means collateral in the form of cash which shall be provided by the Subscriber Organization to the EDC during the operation of the SCEF. Operating Period Security shall earn interest at the Interest Rate;

Operating Period Security has the meaning set forth in Section 9.1.

Operating 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;

Operating Period Security has the meaning set forth in Section 14.2 (Operating

Operating Period Security shall have the meaning set forth in Section 6.1(b) hereof. “Party” and “Parties” shall have the meaning set forth in the first paragraph hereof.