Amount of Default Security Clause Samples

Amount of Default Security. The amount of the Default Security required by Section 8.2.1 shall be
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Amount of Default Security. The amount of the Default Security required by Section 8.2.1 shall be one hundred dollars ($100) per kW of Expected Nameplate Capacity Rating and will be held until the agreement expires.
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Amount of Default Security. The amount of the Default Security required by Section 7.2.1 shall be sufficient to provide replacement power and corresponding Renewable Energy Credits under this Agreement for the next eighteen (18) calendar months. This amount shall be deemed equal to the positive difference between (a) the forward power prices at Palo Verde (as determined by PacifiCorp in good faith using information from a commercially reasonable independent source) for the next eighteen (18) calendar months (or, if the remaining Term is less than eighteen (18) calendar months), then for the remainder of the Term) plus $5 per MWh, minus (b) the Contract Price, multiplied by the MWhs that would be delivered for such period under this Agreement (assuming Net Output based on the total of the estimated monthly output set forth on Exhibit B for that period); provided, however, that the Default Security shall be no less than and shall not exceed . An Example illustrating the calculation of this amount under certain stated conditions is included in Exhibit 7.2.2.
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Amount of Default Security. The amount of the Default Security required by Section 8.2.1 shall be sufficient to provide replacement power and corresponding Green Tags under this Agreement for the next eighteen (18) calendar months. This amount shall be deemed equal to the positive difference between the forward power prices at [specify appropriate liquid market hub] (as determined by PacifiCorp in good faith using information from a commercially reasonable independent source) for the next eighteen (18) calendar months (or, if the remaining Term is less than eighteen (18) calendar months), then for the remainder of the Term) multiplied by 110%, minus the Purchase Price, multiplied by the MWhs that would be delivered for such period under this Agreement (assuming Net Output based on the total of the estimated monthly outputs set forth on Exhibit D for that period); provided, however, that the Default Security shall not exceed the purchase price applicable to the next eighteen (18) calendar month period multiplied by the total estimated monthly output for that period as set forth on Exhibit D. An Example illustrating the calculation of this amount under certain stated conditions is included in Exhibit G.
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Amount of Default Security. The amount of the Default Security required
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Amount of Default Security. The amount of the Default Security required by Section 8.2.1 shall be sufficient to provide replacement power and corresponding Green Tags under this Agreement for the next 18 calendar months. This amount shall be deemed equal to the positive difference between (a) the forward power prices at Palo Verde (as determined in good faith using information from a commercially reasonable independent source) for the next 18 calendar months (or, if the remaining Term is less than 18 calendar months), then for the remainder of the Term), multiplied by 110 percent, plus the Green Tag component of PacifiCorp's Cost to Cover, minus (b) the Contract Price, multiplied by the MWhs that would be delivered for such period under this Agreement (assuming Net Output based on the total of the estimated monthly output set forth on Exhibit B for that period); provided, however, that the amount of Default Security shall in no event be less than the amount equal to the payments PacifiCorp would make for three average months based on Seller's average monthly volumes over the term of the Agreement (assuming Net Output) and utilizing the average forward power prices at Palo Verde (as determined in good faith using information from a commercially reasonable independent source); provided, however, that the initial amount of Default Security is estimated to be and shall be recalculated prior to Commercial Operation. An Example illustrating the calculation of this amount under certain stated conditions is included in Exhibit 8.2.2.
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Amount of Default Security. The amount of the Default Security required by Section 8.2.1 shall be sufficient to provide replacement power and corresponding Green Tags under this Agreement for the next eighteen (18) calendar months. This amount shall be deemed equal to the positive difference between (a) and (b) below, where (a) equals the forward power prices at Palo Verde (as determined in good faith using information from a commercially reasonable independent source) for the next eighteen (18) calendar months (or, if the remaining Term is less than eighteen (18) calendar months), then for the remainder of the Term), multiplied by 110 percent plus the Green Tag component of PacifiCorp’s Cost to Cover, and (b) equals the Contract Price multiplied by the MWhs that would be delivered for such period under this Agreement (assuming Net Output based on the total of the estimated monthly output set forth on Exhibit A for that period); provided, however, that the amount of Default Security shall in no event be less than the amount equal to the payments PacifiCorp would make for three average months based on Seller's average monthly volumes over the term of the Agreement (assuming Net Output) and utilizing the average forward power prices at Palo Verde (as determined in good faith using information from a commercially reasonable independent source).
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Amount of Default Security. The amount of the Default Security required by Section 8.2.1 shall be fifty dollars ($50) per kW of Nameplate Capacity Rating during the first ten (10) Contract Years, an ninety ($90) per kW of Nameplate Capacity Rating during the last ten (10) Contract Years.
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Related to Amount of Default Security

  • ▇▇▇▇▇▇ of Default The happening of any of the following events or conditions shall constitute default hereunder which is herein referred to as ‘default’ or an ‘Event of Default’: (1) The Debtor fails to satisfy or perform any of the Obligations when due; (2) The non-payment when due, whether by acceleration or otherwise, of any principal or interest forming part of the indebtedness or the failure of Debtor to observe or perform any obligation, covenant, term, provision or condition contained in this Agreement or any other agreement between Debtor and Secured Party and such failure has not been waived or cured within any applicable period of grace; (3) The bankruptcy or insolvency of Debtor or any guarantor of the indebtedness; the filing against Debtor or any guarantor of the indebtedness of a petition in bankruptcy; the making of an authorized assignment for the benefit of creditors by ▇▇▇▇▇▇ or any guarantor of the indebtedness; the appointment of a receiver or trustee for Debtor or any guarantor of the indebtedness or for any assets of Debtor or any guarantor of the indebtedness; or the institution by or against Debtor or any guarantor of the indebtedness of any other type of insolvency proceeding under the Bankruptcy and Insolvency Act or otherwise; (4) The institution by or against the Debtor or any guarantor of the indebtedness of any formal or informal proceeding for the dissolution or liquidation of, settlement of claims against or winding up of affairs of Debtor or any guarantor of the indebtedness; (5) If any encumbrance affecting the Collateral becomes enforceable against the Collateral; (6) If Debtor or any guarantor of the indebtedness ceases or threatens to cease to carry on business or makes or agrees to make a bulk sale of assets without complying with applicable law or commits or threatens to commit an act of bankruptcy; (7) If any execution, sequestration, extent or other process of any court becomes enforceable against Debtor or any guarantor of the indebtedness or if a distress or analogous process is levied upon the assets of Debtor or any guarantor of the indebtedness or any part thereof; (8) If any certificate, statement, representation, warranty or audit report heretofore or hereafter furnished by or on behalf of Debtor pursuant to or in connection with this Agreement, or otherwise (including, without limitation, the representations and warranties contained herein) or as an inducement to Secured Party to enter into this or any other agreement with Debtor, proves to have been false in any material respect at the time as of which the facts therein set forth were stated or certified or becomes incorrect in any respect at any time or proves to have omitted any substantial contingent or unliquidated liability or claim against Debtor; or if upon the date of execution of this Agreement, there shall have been any material adverse change in any of the facts disclosed by any such certificate, representation, statement, warranty or audit report, which change shall not have been disclosed to Secured Party at or prior to the time of such execution; and (9) If Secured Party, in good faith, believes and has commercially reasonable grounds to believe that the prospect of payment of any indebtedness or performance of the Obligations is or is about to be placed in jeopardy.

  • Event of Default; Notice (a) The Guarantee Trustee shall, within 90 days after the occurrence of an Event of Default, transmit by mail, first class postage prepaid, to the Holders, notices of all Events of Default known to the Guarantee Trustee, unless such defaults have been cured before the giving of such notice, provided, that, except in the case of a default in the payment of a Guarantee Payment, the Guarantee Trustee shall be protected in withholding such notice if and so long as the Board of Directors, the executive committee or a trust committee of directors and/or Responsible Officers of the Guarantee Trustee in good faith determines that the withholding of such notice is in the interests of the Holders. (b) The Guarantee Trustee shall not be deemed to have knowledge of any Event of Default unless the Guarantee Trustee shall have received written notice, or a Responsible Officer charged with the administration of this Guarantee Agreement shall have obtained written notice, of such Event of Default.

  • Events of Default, Etc During any period during which an Event of Default shall have occurred and be continuing: (a) each Loan Party shall, at the request of the Collateral Agent, assemble the Collateral owned by it at such place or places, as the Collateral Agent shall reasonably request; (b) the Collateral Agent may make any compromise or settlement deemed desirable with respect to any of the Collateral and may extend the time of payment, arrange for payment in installments, or otherwise modify in any manner the terms of, any of the Collateral; (c) the Collateral Agent shall have all of the rights and remedies with respect to the Collateral of a secured party under the Uniform Commercial Code (whether or not the Uniform Commercial Code is in effect in the jurisdiction where the rights and remedies are asserted) and such additional rights and remedies to which a secured party is entitled under all Requirements of Law in effect in any jurisdiction where any rights and remedies hereunder may be asserted, including the right, to the fullest extent permitted by applicable law, to exercise all voting, consensual and other powers of ownership pertaining to the Collateral as if the Collateral Agent were the sole and absolute owner thereof (and each Loan Party agrees to take all such action as may be appropriate to give effect to such right); (d) the Collateral Agent in its discretion may, in its name or in the name of any Loan Party or otherwise, demand, ▇▇▇ for, collect or receive any money or property at any time payable or receivable on account of or in exchange for any of the Collateral, but shall be under no obligation to do so; and (e) the Collateral Agent may, upon five (5) Business Days’ prior written notice to the Loan Parties of the time and place (or, if such sale is to take place on an established exchange or other recognized market, prior to the time of such sale or other Disposition), with respect to the Collateral or any part thereof which shall then be or shall thereafter come into the possession, custody or control of the Collateral Agent, the other Secured Parties or any of their respective agents, sell, assign or otherwise Dispose of all or any part of such Collateral, at such place or places as the Collateral Agent deems best, and for Cash or for credit or for future delivery (without thereby assuming any credit risk), at public or private sale, without demand of performance or notice of intention to effect any such Disposition or of the time or place thereof (except such notice as is required above or by applicable statute and cannot be waived), and the Collateral Agent or any other Secured Party or anyone else may be the purchaser, assignee or recipient of any or all of the Collateral so Disposed of at any public sale (or, to the extent permitted by law, at any private sale) and thereafter, to the fullest extent permitted by Requirements of Law, hold the same absolutely, free from any claim or right of whatsoever kind, including any right or equity of redemption (statutory or otherwise), of the Loan Parties, any such demand, notice and right or equity being hereby expressly waived and released, to the fullest extent permitted by law. The Collateral Agent may, without notice or publication, adjourn any public or private sale or cause the same to be adjourned from time to time by announcement at the time and place fixed for the sale, and such sale may be made at any time or place to which the sale may be so adjourned. The proceeds of each collection, sale or other Disposition under this Section 8.01 shall be deposited into the Custodial Account and applied in accordance with the Default Priority of Payments and any amounts obtained by the Collateral Agent on account of, or as a result of the exercise by, the Collateral Agent of any right of offset or banker’s lien or right of attachment or garnishment with respect to any funds at any time and from time to time on deposit in, or otherwise to the credit of, the Custodial Account shall be held by the Collateral Agent as additional collateral security for the repayment of the Secured Obligations and shall be applied as provided in accordance with the Default Priority of Payments. The Loan Parties recognize that, by reason of certain prohibitions contained in the Securities Act of 1933, as amended, and applicable state securities laws, the Collateral Agent may be compelled, with respect to any sale of all or any part of the Collateral, to limit purchasers to those who will agree, among other things, to acquire the Collateral for their own account, for investment and not with a view to the distribution or resale thereof. Each Loan Party acknowledges and agrees that any such private sale may result in prices and other terms less favorable than if such sale were a public sale and, notwithstanding such circumstances, agrees that any such private sale shall be deemed to have been made in a commercially reasonable manner. The Collateral Agent shall be under no obligation to delay a sale of any item of Collateral for the period of time necessary to permit the issuer thereof to register such securities for public sale under the Securities Act of 1933, as amended, or under applicable state securities laws, even if such issuer would agree to do so.

  • Events of Default; Notice (a) The Guarantee Trustee shall, within 90 days after the occurrence of an Event of Default, transmit by mail, first class postage prepaid, to the Holders of the Capital Securities and the Guarantor, notices of all Events of Default actually known to a Responsible Officer of the Guarantee Trustee, unless such defaults have been cured before the giving of such notice, provided, however, that the Guarantee Trustee shall be protected in withholding such notice if and so long as a Responsible Officer of the Guarantee Trustee in good faith determines that the withholding of such notice is in the interests of the Holders of the Capital Securities. (b) The Guarantee Trustee shall not be deemed to have knowledge of any Event of Default unless the Guarantee Trustee shall have received written notice from the Guarantor or a Holder of the Capital Securities (except in the case of a payment default), or a Responsible Officer of the Guarantee Trustee charged with the administration of this Guarantee shall have obtained actual knowledge thereof.

  • Notice of Default or Event of Default promptly, and in any event within five days after a Responsible Officer becoming aware of the existence of any Default or Event of Default or that any Person has given any notice or taken any action with respect to a claimed default hereunder or that any Person has given any notice or taken any action with respect to a claimed default of the type referred to in Section 11(f), a written notice specifying the nature and period of existence thereof and what action the Company is taking or proposes to take with respect thereto;