Initial Security. Initial security, in a form and amount acceptable to the Parties, for Interconnection Customer’s obligations with respect to Transmission Provider’s Interconnection Facilities (including transmission line outage costs) must be provided by Interconnection Customer to Transmission Provider prior to commencement of the construction of facilities in accordance with Articles 5.5.3, 5.6.4, and 11.5 of this Agreement. Based upon the Transmission Provider’s Interconnection Facilities as set forth in Appendix A, and Interconnection Customer’s payment under the E&P Agreement for Transmission Provider’s Interconnection Facilities, the Interconnection Customer shall provide the Transmission Provider the initial security for Interconnection Customer’s obligations with respect to the Transmission Provider’s Interconnection Facilities in the amount of $455,000 no later than July 1, 2015. The provision of such security is consistent with Article 11.5 of the Agreement. If Interconnection Customer does not promptly pay its obligations with respect to the Transmission Provider’s Interconnection Facilities, Transmission Provider may exercise its rights and remedies with respect to the security therefor. Finally, upon receipt of final payment for (or upon Transmission Provider’s determination that Interconnection Customer is owed a refund based on) the Final Invoice, in accordance with Article 12.2, the Transmission Provider will release any remaining security associated with the Transmission Provider’s Interconnection Facilities. The Transmission Provider’s Interconnection Facilities costs and/or the Construction and Payment Schedule may be subject to change if the Interconnection Customer does not meet the written notice to proceed deadline or the security deadlines set forth above. Furthermore, if the Agreement is suspended by the Interconnection Customer for any reason (e.g., Article 5.16), then additional Interconnection Studies and/or an amendment to the Agreement may be required.
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Initial Security. Initial security, in a form and amount acceptable to the Parties, security for Interconnection Customer’s obligations with respect to Transmission Provider’s Interconnection Facilities (including transmission line outage costs) and Network Upgrades must be provided by Interconnection Customer to Transmission Provider at least thirty (30) days prior to commencement of the construction of facilities in accordance with Articles 5.5.3, 5.6.4, and 11.5 of this Agreement. Based upon the Transmission Provider’s Interconnection Facilities as estimated Construction and Payment Schedule set forth in on page 4 of this Appendix A, and Interconnection Customer’s payment under the E&P Agreement for Transmission Provider’s Interconnection FacilitiesB, the Interconnection Customer shall provide the Transmission Provider the initial security for Interconnection Customer’s obligations with respect to the Transmission Provider’s Interconnection Facilities and Network Upgrades in the amount of $455,000 1,696,000 no later than July 1February 15, 20152016. The provision of such security is consistent with Article 11.5 of the Agreement. Should a prior- queued request be withdrawn, terminated, suspended, or delayed, the Transmission Provider will notify Interconnection Customer of any additional security requirements, based on the prior-queued Construction and Payment Schedule set forth on page 4 of this Appendix B. If Interconnection Customer does not promptly pay its obligations with respect to the Transmission Provider’s Interconnection FacilitiesFacilities and/or Network Upgrades, Transmission Provider may exercise its rights and remedies with respect to the security therefor. Finally, upon receipt of final payment for (or upon Transmission Provider’s determination that Interconnection Customer is owed a refund based on) the Final Invoice, in accordance with Article 12.2, the Transmission Provider will release any remaining security associated with the Transmission Provider’s Interconnection Facilities. The Transmission Provider’s Interconnection Facilities costs cost, the Network Upgrade costs, and/or the Construction and Payment Schedule may be subject to change if the Interconnection Customer does not meet the written notice to proceed deadline or the security deadlines set forth above. Furthermore, if the Agreement is suspended by the Interconnection Customer for any reason (e.g., Article 5.16), then additional Interconnection Studies and/or an amendment to the Agreement may be required.
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