Common use of Payment and Transfer of Interest Clause in Contracts

Payment and Transfer of Interest. Buyer shall pay interest on cash held as [Project Development Security] or Delivery Term Security, as applicable, at the Interest Rate; provided that, such interest shall be retained by Buyer until Seller posts the Delivery Term Security pursuant to Section 8.4(a)(iii). Upon Seller’s posting of the Delivery Term Security, all accrued interest on the [Project Development Security] shall be transferred to Seller in the form of cash by wire transfer to the bank account specified under “Wire Transfer” in Appendix XI, (Notices List). After Seller posts the Delivery Term Security, Buyer shall transfer (as described in the preceding sentence) on or before each Interest Payment Date the Interest Amount due to Seller for such Delivery Term Security. [Short Term Offers from Short Term Existing: Seller to replace Project Development Security with Pre-Delivery Term Security]

Payment and Transfer of Interest. Buyer shall pay interest on cash held as [Project Development Security] or Delivery Term Security, as applicable, at the Interest Rate; provided that, such interest shall be retained by Buyer until Seller posts the Delivery Term Security pursuant to Section 8.4(a)(iii). Upon Seller’s posting of the Delivery Term Security, all accrued interest on the [Project Development Security] shall be transferred to Seller in the form of cash by wire transfer to the bank account specified under “Wire Transfer” in Appendix XI, (Notices List). After Seller posts the Delivery Term Security, Buyer shall transfer (as described in the preceding sentence) on or before each Interest Payment Date the Interest Amount due to Seller for such Delivery Term Security. [Short Term Offers from Short Term Existingexisting ERRs: Seller to replace Project Development Security with Pre-Delivery Term Security]