Common use of Initial Deposit and Draws Clause in Contracts

Initial Deposit and Draws. Concurrently with the execution of this Agreement, Transmission Developer shall pay to IPA an initial deposit for the Facilities Study in the amount specified in the Deposit Amount Schedule of the Procedures, against which IPA will draw in order to reimburse IPA for the costs incurred in connection with its performance of this Agreement. The initial deposit shall not include any estimates of costs incurred by affected systems (i.e., other Transmission Providers, RTOs or ISOs). The Transmission Developer is responsible for the actual costs incurred by IPA and the Operating Agent for the Facilities Study. When the initial deposit has been drawn down to a remainder of twenty-five percent (25%) of the amount deposited by Transmission Developer, IPA shall provide Transmission Developer in writing with a good faith estimate of the expected remaining study costs to complete the Facilities Study, and the Transmission Developer shall pay IPA that amount as an additional study deposit within thirty (30) calendar days.

Initial Deposit and Draws. Concurrently with the execution of this Agreement, Transmission Developer shall pay to IPA an initial deposit for the Facilities Study SIS in the amount specified in the Deposit Amount Schedule of the Procedures, against which IPA will draw in order to reimburse IPA for the costs incurred in connection with its performance of this Agreement. The initial deposit shall not include any estimates of costs incurred by affected systems (i.e., other Transmission Providers, RTOs or ISOs). The Transmission Developer is responsible for the actual costs incurred by IPA and the Operating Agent for the Facilities StudySIS. When the initial deposit has been drawn down to a remainder of twenty-five percent (25%) of the amount deposited by Transmission Developer, IPA shall provide Transmission Developer in writing with a good faith estimate of the expected remaining study costs to complete the Facilities StudySIS, and the Transmission Developer shall pay IPA that amount as an additional study deposit within thirty (30) calendar days.