Common use of Security Package Clause in Contracts

Security Package. Concurrent with the execution of this Agreement, Customer shall deliver a pledge of 20.5% of the equity of AIR HPC LLC having a value as of the Execution Date of at least $[***] (“Equity Pledge”) and a parent guaranty from Rhodium Technologies LLC capped at $[***] (“Parent Guaranty”). The provisions of Section 5.2 of the Lease “Replacement Security” shall apply, mutatis mutandis, to this Master Agreement and the Longhorn Temple Green Data Center Site TC; provided that, any Letter of Credit or cash deposit that replaces the Equity Pledge or Parent Guaranty supporting the Master Agreement and Longhorn Temple Green Data Center Site TC shall be in the amount of $[***] (as such amount may be ratably reduced in the event of a partial release of the Equity Pledge). If, following the execution of the Longhorn Temple Green Data Center Site TC, there is any conflict between the terms of this Master Agreement and those of the Longhorn Temple Green Data Center Site TC as it relates to the treatment of, operation of, effectiveness of, or enforceability of (i) the Equity Pledge, (ii) the Parent Guaranty, or (iii) both of them together, the terms of the Longhorn Temple Green Data Center Site TC shall supersede and control.

Appears in 2 contracts

Sources: Master Retail Electricity Supply Agreement (SilverSun Technologies, Inc.), Master Retail Electricity Supply Agreement (Rhodium Enterprises, Inc.)