Common use of Posting of Security Clause in Contracts

Posting of Security. No later than the Commercialization Date, and for the remaining duration of the Commercial Term (as it may be extended), Company shall post or arrange for the posting of security funds in a manner and amount sufficient to ensure decommissioning of the Solar Facility and removal of the Solar Facility Equipment from the Leased Property consistent with the Decommissioning Cost Estimate, as it may be updated (“Decommissioning Security”). The Decommissioning Security may be posted with an appropriate commercial entity, or if required, a local government agency. The form of the Decommissioning Security shall be in the form of a guaranty, bond, letter of credit, or other form of surety from an entity with an unsecured debt rating of at least BBB- by S&P or Baa3 by ▇▇▇▇▇’▇. Landowner shall have the right to review and approve the form of and plan for using the Decommissioning Security; provided, however, such approval shall not be unreasonably withheld, conditioned or delayed. In the event that a governmental entity with jurisdiction over the Solar Facility requires Company to post a bond or security to secure its performance in removing the Solar Facility Equipment and restoring the Leased Property, then Company’s posting of such bond or security shall be deemed to satisfy its obligations arising under this Section 7.4 to the extent of the amount of such bond or security. To the extent of any deficiency between the Decommissioning Cost Estimate and the amount required to be posted by the governmental authority, then Company shall post security in the amount of the deficiency consistent with acceptable forms of such security listed in this Section 7.4. Company shall provide written evidence to Landowner of Company’s posting of security within thirty (30) days of such posting. The Decommissioning Security shall remain in effect until Company has completed the decommissioning of the Solar Facility and the removal of the Solar Facility Equipment from the Leased Property and met all of Company’s obligations required under Section 7.1 of this Lease. The failure of Company to secure, update and maintain the Decommissioning Security shall constitute a default of Company under this Lease.

Posting of Security. No later than the Commercialization Date, and for the remaining duration of the Commercial Term (as it may be extended), Company shall post or arrange for the posting of security funds in a manner and amount sufficient to ensure decommissioning of the Solar Facility and removal of the Solar Facility Equipment from the Leased Property consistent with the Decommissioning Cost Estimate, as it may be updated (“Decommissioning Security”). The Decommissioning Security may be posted with an appropriate commercial entity, or if required, a local government agency. The form of the Decommissioning Security shall be in the form of a guaranty, bond, letter of credit, or other form of surety from an entity with an unsecured debt rating of at least BBB- A- by S&P or Baa3 A3 by ▇▇▇▇▇’▇. Landowner shall have the right to review and approve the form of and plan for using the Decommissioning Security; provided, however, such approval shall not be unreasonably withheld, conditioned or delayed. In the event that a governmental entity with jurisdiction over the Solar Facility requires Company to post a bond or security to secure its performance in removing the Solar Facility Equipment and restoring the Leased Property, then Company’s posting of such bond or security shall be deemed to satisfy its obligations arising under this Section 7.4 to the extent of the amount of such bond or security. To the extent of any deficiency between the Decommissioning Cost Estimate and the amount required to be posted by the governmental authority, then Company shall post security in the amount of the deficiency consistent with acceptable forms of such security listed in this Section 7.4. Company shall provide written evidence to Landowner of Company’s posting of security within thirty (30) days of such posting. The Decommissioning Security shall remain in effect until Company has completed the decommissioning of the Solar Facility and the removal of the Solar Facility Equipment from the Leased Property and met all of Company’s obligations required under Section 7.1 of this Lease. The failure of Company to secure, update and maintain the Decommissioning Security shall constitute a default of Company under this Lease. Landowner may draw on the Decommissioning Security to pay for or to reimburse Landowner for the costs of removal and decommissioning of the Solar Facility Equipment and restoration of the Leased Property and Easements done in conformity with the provisions of Section 7.2.

Posting of Security. No later than the Commercialization Date, and for the remaining duration of the Commercial Term (as it may be extended), Company shall post or arrange for the posting of security funds in a manner and amount sufficient to ensure decommissioning of the Solar Facility and removal of the Solar Facility Equipment from the Leased Property consistent with the Decommissioning Cost Estimate, as it may be updated (“Decommissioning Security”). The Decommissioning Security may be posted with an appropriate commercial entity, or if required, a local government agency. The form of the Decommissioning Security shall be in the form of a guaranty, bond, letter of credit, or other form of surety from an entity with an unsecured debt rating of at least BBB- by S&P or Baa3 by ▇▇▇▇▇’▇Moody’s. Landowner shall have the right to review and approve the form of and plan for using the Decommissioning Security; provided, however, such approval shall not be unreasonably withheld, conditioned or delayed. In the event that a governmental entity with jurisdiction over the Solar Facility requires Company to post a bond or security to secure its performance in removing the Solar Facility Equipment and restoring the Leased Property, then Company’s posting of such bond or security shall be deemed to satisfy its obligations arising under this Section 7.4 to the extent of the amount of such bond or security. To the extent of any deficiency between the Decommissioning Cost Estimate and the amount required to be posted by the governmental authority, then Company shall post security in the amount of the deficiency consistent with acceptable forms of such security listed in this Section 7.4. Company shall provide written evidence to Landowner of Company’s posting of security within thirty (30) days of such posting. The Decommissioning Security shall remain in effect until Company has completed the decommissioning of the Solar Facility and the removal of the Solar Facility Equipment from the Leased Property and met all of Company’s obligations required under Section 7.1 of this Lease. The failure of Company to secure, update and maintain the Decommissioning Security shall constitute a default of Company under this Lease.