Common use of Guarantee Amount Clause in Contracts

Guarantee Amount. The Developer shall maintain a Letter Of Credit as specified in Section 5.1 above in an amount (the “Guarantee Amount”) equal to the sum of five (5) years of Access Fees, plus and additional amount agreed upon in writing by an Authorized Representative of MIRA sufficient to cover the cost of decommissioning the CEF. Developer shall maintain the Letter Of Credit in the Guarantee Amount for the Term of the Development Agreement and shall maintain and/or extend or renew such Enhanced Letter Of Credit within thirty (30) days prior to any scheduled expiration date set forth in a Letter Of Credit.

Guarantee Amount. ‌ The Developer shall maintain a Letter Of Credit as specified in Section 5.1 above in an amount (the “Guarantee Amount”) equal to the sum of five (5) years of Access Fees, plus and an additional amount agreed upon in writing by an Authorized Representative of MIRA sufficient to cover the cost of decommissioning the CEF. Developer shall maintain the Letter Of Credit in the Guarantee Amount for the Term of the Development Agreement and shall maintain and/or extend or renew such Enhanced Letter Of Credit within thirty (30) days prior to any scheduled expiration date set forth in a Letter Of Credit.