Project Development Security; Delivery Term Security Clause Samples

Project Development Security; Delivery Term Security. Seller agrees to deliver to Buyer collateral to secure its obligations under this Agreement, which Seller shall maintain in full force and effect for the period posted with Buyer, as follows: Project Development Security pursuant to this Section 8.4(a)(i) in the amount of $ [insert dollar amount equal to $15/kw multiplied by the capacity of the Project as reflected in Seller’s Offer] and in the form of [specify cash or Letter of Credit] within five (5) Business Days following the Execution Date of this Agreement until Seller posts Project Development Security pursuant to Section 8.4(a)(ii) below with Buyer. Project Development Security pursuant to this Section 8.4(a)(ii) in the amount set forth in Sections 8.4(a)(ii)(A)-(B), below, as applicable, in the form of [specify cash or Letter of Credit] from a date not later than thirty (30) days following the date on which all of the Conditions Precedent set forth in Section 2.4 are either satisfied or waived until Seller posts Delivery Term Security pursuant to Section 8.4(a)(iii) below with Buyer; provided that if Buyer collects or is entitled to collect Daily Delay Damages from Seller during the Construction Cure Period for failure to achieve the Guaranteed Construction Start Date (after giving effect to Permitted Extensions), Seller agrees that within ten (10) Business Days following the end of the Construction Cure Period it shall replenish the Project Development Security by an amount equal to the encumbered Project Development Security; provided further that, with Buyer’s consent, Seller may elect to apply the Project Development Security posted pursuant to Section 8.4(a)(i) toward the Project Development Security posted pursuant to this Section 8.4(a)(ii); For Projects with a Contract Capacity of less than 10 MW (AC), $ [insert dollar amount equal to $20/kw, multiplied by the capacity of the Project as reflected in Seller’s Offer]; or For Projects with a Contract Capacity of 10 MW (AC) or greater, [insert dollar amount equal to $35/kw, multiplied by the capacity of the Project as reflected in Seller’s Offer]. Delivery Term Security pursuant to this Section 8.4(a)(iii) in the amount of $ [insert dollar amount equal to six months of the Contract Price multiplied by the Contract Quantity in the first applicable Contract Year ] and in the form of {specify cash, Letter of Credit or Guarantee] from the Commercial Operation Date until the end of the Term; provided that, with Buyer’s consent, Seller may elect to ...

Project Development Security; Delivery Term Security.  Applicable  Not Applicable If Applicable: The following is the “Project Development Security”

Project Development Security; Delivery Term Security. To secure its obligations under this Agreement Seller agrees to deliver to Buyer collateral, which Seller shall maintain in full force and effect for the period posted with Buyer, as follows: (i) Project Development Security in the amount and in the form set forth in the Cover Sheet with respect to this subpart (i) from the Execution Date of this Agreement until Seller posts Project Development Security pursuant to subpart (ii) below, with Buyer; (ii) Project Development Security in the amount and in the form set forth in the Cover Sheet with respect to this subpart (ii) from a date not later than thirty (30) days following the date on which all of the Conditions Precedent set forth in Article Eleven are either satisfied or waived until Seller posts Delivery Term Security pursuant to subpart (iii) below, with Buyer; and (iii) from the Commercial Operation Date until the end of the Term, the Delivery Term Security in the amount and in the form set forth in the Cover Sheet with respect to this subpart (iii). Any such Performance Assurance shall not be deemed a limitation of damages, unless otherwise specifically provided by the terms set forth in this Agreement.

Project Development Security; Delivery Term Security. Seller agrees to deliver to Buyer collateral to secure its obligations under this Agreement, which Seller shall maintain in full force and effect for the period posted with Buyer, as follows: (i) Project Development Security pursuant to this Section 8.4(a)(i) in the amount of $20/kW multiplied by the capacity of the Project as reflected in the Cover Sheet for projects 5 MW and smaller, or $60/$90 /kW multiplied by the capacity of the Project as reflected in the Cover Sheet for As-Available/Baseload resources, respectively, for projects greater than 5 MW and up to 20 MW in size and in the form set forth on the Cover Sheet within five (5) Business Days following the Effective Date of this Agreement until Seller posts Delivery Term Security pursuant to Section 8.4(a)(ii) below with Buyer. (ii) Delivery Term Security pursuant to this Section 8.4(a)(ii) in the amount of $20/kW multiplied by the capacity of the Project as reflected in Seller’s Offer, or 5% of expected total project revenues for projects greater than 5 MW and up to 20 MW in size and in the form set forth on the Cover Sheet from the Commercial Operation Date until the end of the Term; provided that, with Buyer’s consent, Seller may elect to apply the Project Development Security posted pursuant to Section 8.4(a)(i) toward the Delivery Term Security posted pursuant to this Section 8.4(a)(ii). Except as provided in Section 5.2(c), the amount of Performance Assurance required under this Agreement shall not be deemed a limitation of damages. Except as specifically provided for in this Section 8.4(a), Buyer acknowledges that Seller shall not be required to post any additional security.

Project Development Security; Delivery Term Security. 🗷 Applicable Not Applicable If Applicable: The following is the “Project Development Security” 8.4(a)(i) Project Development Security Amount: $15,000

Project Development Security; Delivery Term Security. X Applicable Not Applicable If Applicable:

Project Development Security; Delivery Term Security. Seller agrees to deliver to Buyer collateral to secure its obligations under this Agreement, which Seller shall maintain in full force and effect for the period posted with Buyer, as follows: Project Development Security in the amount equal to $____________ [amount equal to $20/kw], and in the form of _____________ [specify cash or Letter of Credit] from a date not later than thirty (30) days following the date on which all of the Conditions Precedent set forth in Section 12.1 are either satisfied or waived until Seller posts Delivery Term Security as specified below. Delivery Term Security in the amount equal to $_______________ [amount equal to $150/kw] and in the form of ______________ [specify cash, Letter of Credit, or Guarantee] from the Commercial Operation Date until the end of the Term.

Project Development Security; Delivery Term Security. Seller agrees to deliver to Buyer collateral to secure its obligations under this Agreement, which Seller shall maintain in full force and effect for the period posted with Buyer, as follows: (i) Project Development Security pursuant to this Section 8.4(a)(i) in the amount of $1.53 million and in the form of cash or Letter of Credit within five (5) Business Days following the Execution Date of this Agreement until Seller posts Project Development Security pursuant to Section 8.4(a)(ii) below with Buyer; (ii) Project Development Security pursuant to this Section 8.4(a)(ii) in the amount of $5.1 million and in the form of cash or Letter of Credit from a date not later than thirty (30) days following the date on which all of the Conditions Precedent set forth in Section 2.4 are either satisfied or waived until Seller posts Delivery Term Security pursuant to Section 8.4(a)(iii) below with Buyer; provided that if Buyer collects or is entitled to collect Daily Delay Damages from Seller during the Construction Cure Period for failure to achieve the Guaranteed Construction Start Date (after giving effect to Permitted Extensions), Seller agrees that within ten