Common use of Return of Development Security Clause in Contracts

Return of Development Security. If no Event of Default with respect to Seller has occurred and is continuing, and no Early Termination Date has occurred or been designated as the result of an Event of Default with respect to Seller, then: (i) As soon as reasonably practicable after the Initial Delivery Date, SCE shall return to Seller the Development Security including any interest accrued thereon pursuant to Section 7.03(a). (ii) As soon as reasonably practicable after the termination of this Agreement by either Party pursuant to Sections 2.07, 8.03(a), or 10.05, SCE shall return to Seller the full Development Security, including any interest accrued pursuant to Section 7.03(a); provided, a termination under Article 8 only entitles Seller to a return of the Development Security if the termination is based on a Force Majeure that prevents the Initial Delivery Date from occurring on or before the Initial Delivery Deadline. (iii) Seller may, with SCE’s consent, authorize SCE to retain cash or Letter(s) of Credit initially posted as Development Security as Performance Assurance posted under Section 7.02.

Return of Development Security. If no Event of Default with respect to Seller has occurred and is continuing, and no Early Termination Date has occurred or been designated as the result of an Event of Default with respect to Seller, then: (i) : As soon as reasonably practicable after the Initial Delivery Date, SCE shall return to Seller the full Development Security including any interest accrued thereon pursuant to Section 7.03(a). (ii) . As soon as reasonably practicable after the termination of this Agreement by either Party pursuant to Sections 2.07, 5.01(b) or 8.03(a), or 10.05, SCE shall return to Seller the full Development Security, including any interest accrued pursuant to Section 7.03(a); provided, a termination under Article 8 only entitles Seller to a return of the Development Security if the termination is based on a Force Majeure that prevents the Initial Delivery Date from occurring on or before the Initial Delivery Deadline. (iii) . Seller may, with SCE’s consent, authorize SCE to retain cash or Letter(s) of Credit initially posted as Development Security as Performance Assurance posted under Section 7.02.