Common use of Administration of Performance Assurance Clause in Contracts

Administration of Performance Assurance. (i) Subparagraph 6(a)(i) is amended by inserting the words “(other than Paragraph 6(a)(ii)(B))” after the words “then the provisions of Paragraph 6(a)(ii)” in the fifth line. (ii) Subparagraph 6(a)(ii)(B) is amended by (a) deleting “to perfect the security interest of the Non-Downgraded Party” and replacing it with “to perfect the security interest of the Downgraded Party” in the eleventh line and (b) deleting the last two (2) sentences of that subparagraph. (iii) A new Subparagraph 6(a)(iv) is added as follows: (iv) Notwithstanding the above, any Cash received by Buyer may be temporarily commingled with its general Cash until such time as a separate account can be established on behalf of Seller at a Qualified Institution. Buyer shall use commercially reasonable efforts to establish a separate account on behalf of Seller as soon as reasonably possible. In addition, when funds are wired to Buyer’s general account, funds may be temporarily commingled until such time as the funds can be transferred from Buyer’s general receiving account to Buyer’s separate account on behalf of the Seller at the Qualified Institution. Such periods are generally of short duration and no interest shall be calculated or paid on amounts held during such time.

Administration of Performance Assurance. (i) Subparagraph 6(a)(i) is amended by inserting the words “(other than Paragraph 6(a)(ii)(B))” after the words “then the provisions of Paragraph 6(a)(ii)” in the fifth line. (ii) Subparagraph 6(a)(ii)(B) is amended by (a) deleting “to perfect the security interest of the Non-Downgraded Party” and replacing it with “to perfect the security interest of the Downgraded Party” in the eleventh line and (b) deleting the last two (2) sentences of that subparagraph. (iii) A new Subparagraph 6(a)(iv) is added as follows: (iv) Notwithstanding the above, any Cash received by Buyer may be temporarily commingled with its general Cash until such time as a separate account can be established on behalf of Seller at a Qualified Institution. Buyer shall use commercially reasonable efforts to establish a separate account on behalf of Seller ▇▇▇▇▇▇ as soon as reasonably possible. In addition, when funds are wired to Buyer▇▇▇▇▇’s general account, funds may be temporarily commingled until such time as the funds can be transferred from Buyer’s general receiving account to Buyer▇▇▇▇▇’s separate account on behalf of the Seller at the Qualified Institution. Such periods are generally of short duration and no interest shall be calculated or paid on amounts held during such time.

Administration of Performance Assurance. (i) Subparagraph 6(a)(i) is amended by inserting the words “(other than Paragraph 6(a)(ii)(B))” after the words “then the provisions of Paragraph 6(a)(ii)” in the fifth line. (ii) Subparagraph 6(a)(ii)(B) is amended by (a) deleting “to perfect the security interest of the Non-Downgraded Party” and replacing it with “to perfect the security interest of the Downgraded Party” in the eleventh line and (b) deleting the last two (2) sentences of that subparagraph. (iii) A new Subparagraph 6(a)(iv) is added as follows: (iv) Notwithstanding the above, any Cash received by Buyer may be temporarily commingled with its general Cash until such time as a separate account can be established on behalf of Seller at a Qualified Institution. Buyer shall use commercially reasonable efforts to establish a separate account on behalf of Seller ▇▇▇▇▇▇ as soon as reasonably possible. In addition, when funds are wired to Buyer▇▇▇▇▇’s general account, funds may be temporarily commingled until such time as the funds can be transferred from Buyer▇▇▇▇▇’s general receiving account to Buyer▇▇▇▇▇’s separate account on behalf of the Seller at the Qualified Institution. Such periods are generally of short duration and no interest shall be calculated or paid on amounts held during such time.

Administration of Performance Assurance. (i) Subparagraph 6(a)(i) is amended by inserting the words “(other than Paragraph 6(a)(ii)(B))” after the words “then the provisions of Paragraph 6(a)(ii)”.)” in the fifth line. (ii) Subparagraph 6(a)(ii)(B) is amended by (a) deleting “to perfect the security interest of the Non-Downgraded Party” and replacing it with “to perfect the security interest of the Downgraded Party” in the eleventh line and (b.((b) deleting the last two (2) sentences of that subparagraphparagraphsubparagraph. (iii) A new subsection,Subparagraph 6(a)(iv) is added added, as follows: (iv) Notwithstanding the above, any Cash received by the Buyer may be temporarily commingled with its general Cash until such time as a separate account can be established on behalf of the Seller at a Qualified Institution. , (if one does not currently exist).. Buyer shall use commercially reasonable efforts to establish a separate account on behalf of Seller ▇▇▇▇▇▇ as soon as reasonably possible. In addition, when funds are wired to the Buyer’s general account, funds may be temporarily commingled until such time as the funds can be transferred from the Buyer’s general receiving account to the Buyer’s separate account on behalf of the Seller at the Qualified Institution. Such periods are generally of short duration and no interest shall be calculated or paid on amounts held during such time.

Administration of Performance Assurance. (i) Subparagraph 6(a)(i) is amended by inserting the words “(other than Paragraph 6(a)(ii)(B))” after the words “then the provisions of Paragraph 6(a)(ii)”.)” in the fifth line. (ii) Subparagraph 6(a)(ii)(B) is amended by (a) deleting “to perfect the security interest of the Non-Downgraded Party” and replacing it with “to perfect the security interest of the Downgraded Party” in the eleventh line and (b.((b) deleting the last two (2) sentences of that subparagraphparagraphsubparagraph. (iii) A new subsection,Subparagraph 6(a)(iv) is added added, as follows: (iv) Notwithstanding the above, any Cash received by the Buyer may be temporarily commingled with its general Cash ▇▇▇▇ until such time as a separate account can be established on behalf of the Seller at a Qualified Institution. , (if one does not currently exist).. Buyer shall use commercially reasonable efforts to establish a separate account on behalf of Seller as soon as reasonably possible. In addition, when funds are wired to the Buyer’s general account, funds may be temporarily commingled until such time as the funds can be transferred from the Buyer’s general receiving account to the Buyer’s separate account on behalf of the Seller at the Qualified Institution. Such periods are generally of short duration and no interest shall be calculated or paid on amounts held during such time.