Common use of Additional Financial Assurance Clause in Contracts

Additional Financial Assurance. In addition to the initial lease-specific financial assurance discussed above, the Lessee is also required to provide additional supplemental bonds associated with the SAP and COP, or other form of financial assurances and a decommissioning bond or other approved means of meeting the Lessee’s decommissioning obligations.‌ (1) Prior to the Lessor’s approval of a SAP, the Lessor will require an additional supplemental bond or other form of financial assurance in an amount determined by the Lessor based on the complexity, number, and location of all facilities involved in the site assessment activities planned in the SAP, and estimates of the costs to meet all accrued obligations, in accordance with applicable BOEM regulations (30 CFR 585.515- 537). The supplemental financial assurance requirement is in addition to the initial lease-specific financial assurance in the amount of $100,000. The Lessee may meet these obligations by providing a new bond or other acceptable form of financial assurance, or increasing the amount of its existing bond or other form of financial assurance.‌‌ (2) Prior to the Lessor’s approval of a COP, the Lessor may require an additional supplemental bond or other form of financial assurance in an amount determined by the Lessor based on the complexity, number, location of all facilities, activities and Commercial Operations planned in the COP, and estimates of the costs to meet all‌ accrued obligations, in accordance with applicable BOEM regulations (30 CFR 585.515- 537). The supplemental financial assurance requirement is in addition to the initial lease-specific financial assurance in the amount of $100,000 and an additional supplemental bond or other form of financial assurance required with the SAP. The Lessee may meet this obligation by providing a new bond or other acceptable form of financial assurance, or increasing the amount of its existing bond or other form of financial assurance.‌ (3) The Lessor will require a decommissioning bond or other form of financial assurance based on the anticipated decommissioning costs in accordance with applicable BOEM regulations (30 CFR 585.515-537). The decommissioning obligation must be guaranteed through an acceptable form of financial assurance and will be due according to the schedule beginning before commencement of the installation of commercial facilities on a date or dates to be determined by the Lessor.

Additional Financial Assurance. In addition to the initial lease-specific financial assurance previously discussed aboveand as set forth in 30 CFR 585.516-.517, the Lessee is also required to provide additional supplemental bonds associated with the SAP and COP, or other form of financial assurances and a decommissioning bond or other approved means of meeting the Lessee’s decommissioning obligations.‌obligations. (1) Prior to the Lessor’s approval of a SAP, the Lessor will require an additional supplemental bond or other form of financial assurance in an amount determined by the Lessor based on the complexity, number, and location of all facilities involved in the site assessment activities planned in the SAP, and estimates of the costs to meet all accrued obligations, in accordance with applicable BOEM regulations (30 CFR 585.515- 585.515-537). The supplemental financial assurance requirement is in addition to the initial lease-specific financial assurance in the amount of $100,000. The Lessee may meet these obligations by providing a new bond or other acceptable form of financial assurance, or increasing the amount of its existing bond or other form of financial assurance.‌‌assurance. (2) Prior to the Lessor’s approval of a COP, the Lessor may require an additional supplemental bond or other form of financial assurance in an amount determined by the Lessor based on the complexity, number, location of all facilities, activities and Commercial Operations planned in the COP, and estimates of the costs to meet all‌ all accrued obligations, in accordance with applicable BOEM regulations (30 CFR 585.515- 585.515-537). The supplemental financial assurance requirement is in addition to the initial lease-specific financial assurance in the amount of $100,000 100,000, and an any additional supplemental bond or other form of financial assurance required with the SAP. The Lessee may meet this obligation these obligations by providing a new bond or other acceptable form of financial assurance, or increasing the amount of its existing bond or other form of financial assurance.‌assurance. (3) The Lessor will require a decommissioning bond or other form of financial assurance based on the anticipated decommissioning costs in accordance with applicable BOEM regulations (30 CFR 585.515-537). The decommissioning obligation must be guaranteed through an acceptable form of financial assurance assurance, and will be due according to the schedule beginning before commencement of the installation of commercial facilities on a date or dates schedule to be determined approved by BOEM in accordance with the Lessornumber of facilities installed or being installed.

Additional Financial Assurance. In addition to the initial lease-specific financial assurance previously discussed aboveand as set forth in 30 CFR 585.516-517, the Lessee is also required to provide additional supplemental bonds associated with the SAP and COP, or other form of financial assurances and a decommissioning bond or other approved means of meeting the Lessee’s decommissioning obligations.‌assurance as provided below. (1) Prior to the Lessor’s approval of a SAP, the Lessor will require an additional supplemental bond or other form of financial assurance in an amount determined by the Lessor based on the complexity, number, and location of all facilities involved in the site assessment activities planned in the SAP, and estimates of the costs to meet all accrued obligations, in accordance with applicable BOEM regulations (30 CFR 585.515- 585.515-537). The supplemental financial assurance requirement is in addition to the initial lease-specific financial assurance in the amount of $100,000. The Lessee may meet these obligations by providing a new bond or other acceptable form of financial assurance, or increasing the amount of its existing bond or other form of financial assurance.‌‌assurance. (2) Prior to the Lessor’s approval of a COP, the Lessor may require an additional supplemental bond or other form of financial assurance in an amount determined by the Lessor based on the complexity, number, location of all facilities, activities and Commercial Operations planned in the COP, and estimates of the costs to meet all‌ all accrued obligations, in accordance with applicable BOEM regulations (30 CFR 585.515- 585.515-537). The supplemental financial assurance requirement is in addition to the initial lease-specific financial assurance in the amount of $100,000 100,000, and an any additional supplemental bond or other form of financial assurance required with the SAP. The Lessee may meet this obligation these obligations by providing a new bond or other acceptable form of financial assurance, or increasing the amount of its existing bond or other form of financial assurance.‌assurance. (3) The Lessor will require a decommissioning bond or other form of financial assurance based on the anticipated decommissioning costs in accordance with applicable BOEM regulations (30 CFR 585.515-537). The decommissioning obligation must be guaranteed through an acceptable form of financial assurance assurance, and will be due according to the schedule beginning before commencement of the installation of commercial facilities on a date or dates schedule to be determined approved by the LessorLessor in accordance with the number of facilities installed or being installed.

Additional Financial Assurance. In addition to the initial lease-specific and supplemental financial assurance discussed above, the Lessee is also required to provide an additional supplemental bonds associated with the SAP and COPbond, or other form of financial assurances assurance, and a decommissioning bond or other approved means of meeting the Lessee’s decommissioning obligations.‌obligations. (1) Prior to the Lessor’s approval of a SAP, the Lessor will require an additional supplemental bond or other form of financial assurance in an amount determined by the Lessor based on the complexity, number, and location of all facilities involved in the site assessment activities planned in the SAP, and estimates of the costs to meet all accrued obligations, in accordance with applicable BOEM regulations (30 CFR 585.515- 585.515-537). The supplemental financial assurance requirement is in addition to the initial lease-specific financial assurance in the amount of $100,000100,000 and the initial supplemental financial assurance in the amount of $292,494. The Lessee may meet these obligations by providing a new bond or other acceptable form of financial assurance, or increasing the amount of its existing bond or other form of financial assurance.‌‌assurance. (2) Prior to the Lessor’s approval of a COP, the Lessor may will require an additional supplemental bond or other form of financial assurance in an amount determined by the Lessor based on the complexity, number, location of all facilities, activities and Commercial Operations planned in the COP, and estimates of the costs to meet all‌ all accrued obligations, in accordance with applicable BOEM regulations (30 CFR 585.515- 585.515-537). The supplemental financial assurance requirement is in addition to the initial lease-specific financial assurance in the amount of $100,000 100,000, the initial supplemental financial assurance in the amount of $292,494 and an any additional supplemental bond or other form of financial assurance required with the SAP. The Lessee may meet this obligation these obligations by providing a new bond or other acceptable form of financial assurance, or increasing the amount of its existing bond or other form of financial assurance.‌assurance. (3) The Lessor will require a determine the amount and the schedule for providing the decommissioning bond or other form of financial assurance based on the anticipated decommissioning costs in accordance with applicable BOEM regulations (30 CFR 585.515-537). The decommissioning obligation must be guaranteed through an acceptable form of financial assurance and will be due according to the schedule beginning before commencement of the installation of commercial facilities on a date or dates to be determined by the Lessor.

Additional Financial Assurance. In addition to the initial lease-specific financial assurance discussed above, the Lessee is also required to provide additional supplemental bonds associated with the SAP and COP, or other form of financial assurances assurances, and a decommissioning bond or other approved means of meeting the Lessee’s decommissioning obligations.‌obligations. (1) Prior to the Lessor’s approval of a SAP, the Lessor will require an additional supplemental bond or other form of financial assurance in an amount determined by the Lessor based on the complexity, number, and location of all facilities involved in the site assessment activities planned in the SAP, and estimates of the costs to meet all accrued obligations, in accordance with applicable BOEM regulations (30 CFR 585.515- 585.515-537). The supplemental financial assurance requirement is in addition to the initial lease-specific financial assurance in the amount of $100,000. The Lessee may meet these obligations this obligation by providing a new bond or other acceptable form of financial assurance, or increasing the amount of its existing bond or other form of financial assurance.‌‌assurance. (2) Prior to the Lessor’s approval of a COP, the Lessor may require an additional supplemental bond or other form of financial assurance in an amount determined by the Lessor based on the complexity, number, location of all facilities, activities and Commercial Operations planned in the COP, and estimates of the costs to meet all‌ all accrued obligations, in accordance with applicable BOEM regulations (30 CFR 585.515- 585.515-537). The supplemental financial assurance requirement is in addition to the initial lease-specific financial assurance in the amount of $100,000 and an additional supplemental bond or other form of financial assurance required with the SAP. The Lessee may meet this obligation by providing a new bond or other acceptable form of financial assurance, or increasing the amount of its existing bond or other form of financial assurance.‌assurance. (3) The Lessor will require a decommissioning bond or other form of financial assurance based on the anticipated decommissioning costs in accordance with applicable BOEM regulations (30 CFR 585.515-537). The decommissioning obligation must be guaranteed through an acceptable form of financial assurance and will be due according to the schedule beginning before commencement of the installation of commercial facilities on a date or dates to be determined by the Lessor.

Additional Financial Assurance. In addition to the initial lease-specific financial assurance discussed and as set forth above, the Lessee is also required to provide additional supplemental bonds associated with the SAP and COP, or other form of financial assurances and a decommissioning bond or other approved means of meeting the Lessee’s decommissioning obligations.‌ (1) Prior to the Lessor’s approval of a SAP, the Lessor will require an additional supplemental bond or other form of financial assurance in an amount determined by the Lessor based on the complexity, number, and location of all facilities involved in the site assessment activities planned in the SAP, and estimates of the costs to meet all accrued obligations, in accordance with applicable BOEM regulations (30 CFR 585.515- 585.515-537). The supplemental financial assurance requirement is in addition to the initial lease-specific financial assurance in the amount of $100,000. The Lessee may meet these obligations by providing a new bond or other acceptable form of financial assurance, or increasing the amount of its existing bond or other form of financial assurance.‌‌assurance.‌ (2) Prior to the Lessor’s approval of a COP, the Lessor may require an additional supplemental bond or other form of financial assurance in an amount determined by the Lessor based on the complexity, number, location of all facilities, activities activities, and Commercial Operations planned in the COP, and estimates of the costs to meet all‌ all accrued obligations, in accordance with applicable BOEM regulations (30 CFR 585.515- 585.515-537). The supplemental financial assurance requirement is in addition to the initial lease-specific financial assurance in the amount of $100,000 100,000, and an additional supplemental bond or other form of financial assurance required with the SAP. The Lessee may meet this obligation by providing a new bond or other acceptable form of financial assurance, or increasing the amount of its existing bond or other form of financial assurance.‌ (3) The Lessor will require a decommissioning bond or other form of financial assurance based on the anticipated decommissioning costs in accordance with applicable BOEM regulations (30 CFR 585.515-537). The decommissioning obligation must be guaranteed satisfied through an acceptable form of financial assurance and will be due according to the schedule beginning before commencement of the installation of commercial facilities on a date or dates to be determined by the Lessor.Lessor.‌