Common use of Completion and Performance Security Clause in Contracts

Completion and Performance Security. ‌ (a) The Parties acknowledge that the Supplier has, as of the Contract Date, provided to the Buyer security in the form described in Section 6.2(a) for the performance of the Supplier’s obligations under this Agreement (the “Completion and Performance Security”) in an amount equal to $[⚫/MW of Maximum Contract Capacity]. [NTD: This is based on the Proposal Security amount set out in the LT1 RFP.] [Note to Finalization: To be updated prior to execution.]‌ (b) From and after the Contract Date and until the end of the Term, the Supplier shall maintain the Completion and Performance Security in the amount and for the period specified below: (i) from the Contract Date until COD, in an amount equal to $[⚫/MW of Maximum Contract Capacity] (which, for clarity, has been provided to the Buyer as set out in 6.1(a)); and [NTD: This is based on the Proposal Security amount set out in the LT1 RFP.] [Note to Finalization: To be updated prior to execution.] (ii) from COD until the end of the Term, in an amount equal to $[25,000]/MW of Maximum Contract Capacity. Draft (c) Notwithstanding any other provision of this Agreement, no delay, including a delay resulting from an event of Force Majeure, shall extend the date by which any component of the Completion and Performance Security is required to be provided by the Supplier. (d) In the event that the Buyer, in accordance with this Agreement, has recovered monies that were due to it using all or part of the Completion and Performance Security, the Supplier shall forthwith provide replacement security to cover an amount equal to that recovered or paid out of the Completion and Performance Security.

Completion and Performance Security. ‌ (a) The Parties acknowledge that the Supplier has, as of the Contract Date, provided to the Buyer security in the form described in Section 6.2(a) for the performance of the Supplier’s obligations under this Agreement (the “Completion and Performance Security”) in an amount equal to $[⚫/MW of Maximum Contract Capacity]. [NTD: This is based on the Proposal Security amount set out in the LT1 RFP.] [Note to Finalization: To be updated prior to execution.]‌$60,000/ MW of Maximum Contract Capacity for Large-Scale LT1 Projects and $45,000/MW of Maximum Contract Capacity for Small-Scale LT1 Projects.]‌‌ (b) From and after the Contract Date and until the end of the Term, the Supplier shall maintain the Completion and Performance Security in the amount and for the period specified below:below:‌ (i) from the Contract Date until COD, in an amount equal to $[⚫/MW of Maximum Contract Capacity] (which, for clarity, has been provided to the Buyer as set out in 6.1(a)); and [NTD: This is based on the Proposal Security amount set out in the LT1 RFP.] [Note to Finalization: To be updated prior to execution.]6.1(a));‌ (ii) from COD until the tenth anniversary of the COD, in an amount equal to‌ $25,000/MW of Maximum Contract Capacity; and (iii) from the tenth anniversary of the COD until the end of the Term, in an amount equal to $[25,000]/MW 15,000/MW of Maximum Contract Capacity. Draft. (c) Notwithstanding any other provision of this Agreement, no delay, including a delay resulting from an event of Force Majeure, shall extend the date by which any component of the Completion and Performance Security is required to be provided by the Supplier.Supplier.‌ (d) In the event that the Buyer, in accordance with this Agreement, has recovered monies that were due to it using all or part of the Completion and Performance Security, the Supplier shall forthwith provide replacement security to cover an amount equal to that recovered or paid out of the Completion and Performance Security.Security.‌

Completion and Performance Security. ‌ (a) The Parties acknowledge that the Supplier has, as of the Contract Date, provided to the Buyer security in the form described in Section 6.2(a) for the performance of the Supplier’s obligations under this Agreement (the “Completion and Performance Security”) in an amount equal to $[⚫/MW of Maximum Contract Capacity]. [NTD: This is based on the Proposal Security amount set out in the $60,000/ MW of Maximum Contract Capacity for Large-Scale LT1 RFP.] [Note to Finalization: To be updated prior to execution.]‌Projects and $45,000/MW of Maximum Contract Capacity for Small-Scale LT1 Projects.]‌‌ (b) From and after the Contract Date and until the end of the Term, the Supplier shall maintain the Completion and Performance Security in the amount and for the period specified below:below:‌ (i) from the Contract Date until COD, in an amount equal to $[⚫/MW of Maximum Contract Capacity] (which, for clarity, has been provided to the Buyer as set out in 6.1(a)); (ii) from COD until the tenth anniversary of the COD, in an amount equal to $[⚫]; and [NTD: This is based on the Proposal Security amount set out in the $25,000/ MW of Maximum Contract Capacity - for both Large-Scale LT1 RFP.] [Note to Finalization: To be updated prior to executionProjects and Small-Scale LT1 Projects.] (iiiii) from the tenth anniversary of the COD until the end of the Term, in an amount equal to $[25,000]/MW ⚫]. [NTD: $15,000/ MW of Maximum Contract Capacity. Capacity - for Large-Scale LT1 Projects and Small-Scale LT1 Projects.]‌ Draft (c) Notwithstanding any other provision of this Agreement, no delay, including a delay resulting from an event of Force Majeure, shall extend the date by which any component of the Completion and Performance Security is required to be provided by the Supplier.Supplier.‌‌ (d) In the event that the Buyer, in accordance with this Agreement, has recovered monies that were due to it using all or part of the Completion and Performance Security, the Supplier shall forthwith provide replacement security to cover an amount equal to that recovered or paid out of the Completion and Performance Security.Security.‌

Completion and Performance Security. ‌ (a) The Parties acknowledge that the Supplier has, as of the Contract Date, provided to the Buyer security in the form described in Section 6.2(a) for the performance of the Supplier’s obligations under this Agreement (the “Completion and Performance Security”) in an amount equal to $[⚫/MW of Maximum Contract Capacity]. [NTD: This is based on the Proposal Security amount set out in the $60,000/ MW of Maximum Contract Capacity for Large-Scale LT1 RFP.] [Note to Finalization: To be updated prior to execution.]‌Projects and $45,000/MW of Maximum Contract Capacity for Small-Scale LT1 Projects.]‌ Draft (b) From and after the Contract Date and until the end of the Term, the Supplier shall maintain the Completion and Performance Security in the amount and for the period specified below: (i) from the Contract Date until COD, in an amount equal to $[⚫/MW of Maximum Contract Capacity] (which, for clarity, has been provided to the Buyer as set out in 6.1(a)); (ii) from COD until the tenth anniversary of the COD, in an amount equal to $[⚫]; and [NTD: This is based on the Proposal Security amount set out in the $25,000/ MW of Maximum Contract Capacity - for both Large-Scale LT1 RFP.] [Note to Finalization: To be updated prior to executionProjects and Small-Scale LT1 Projects.] (iiiii) from the tenth anniversary of the COD until the end of the Term, in an amount equal to $[25,000]/MW ⚫]. [NTD: $15,000/ MW of Maximum Contract Capacity. DraftCapacity - for Large-Scale LT1 Projects and Small-Scale LT1 Projects.] (c) Notwithstanding any other provision of this Agreement, no delay, including a delay resulting from an event of Force Majeure, shall extend the date by which any component of the Completion and Performance Security is required to be provided by the Supplier. (d) In the event that the Buyer, in accordance with this Agreement, has recovered monies that were due to it using all or part of the Completion and Performance Security, the Supplier shall forthwith provide replacement security to cover an amount equal to that recovered or paid out of the Completion and Performance Security.