Termination of Project Development Security. If after the Commercial Operation Date no damages are owed to Buyer under this Agreement, then Seller shall no longer be required to maintain the Project Development Security, and Project Development Security amounts held by Buyer as Daily Delay Damages due to a delayed Construction Start Date shall be returned to Seller within five (5) Business Days of Seller’s provision of the Delivery Term Security; provided however, that with Buyer’s consent, Seller may elect to apply the Project Development Security toward the Delivery Term Security, if any, provided pursuant to this Section 8.4.
Appears in 5 contracts
Sources: Power Purchase and Sale Agreement, Power Purchase and Sale Agreement, Power Purchase and Sale Agreement
Termination of Project Development Security. If after the Commercial Operation Initial Delivery Date no damages are owed due and owing to Buyer under this Agreement, then Seller shall no longer be required to maintain the [Project Development Security], and Buyer shall return to Seller the [Project Development Security amounts held by Buyer as Daily Delay Damages due to a delayed Construction Start Date shall be returned to Seller Security] within five (5) Business Days of Seller’s provision of the Delivery Term Security; provided howeverSecurity unless, that with Buyer’s consent, Seller may elect elects to apply the [Project Development Security Security] posted pursuant to Section 4.3(a)(ii) toward the Delivery Term Security, if any, provided Security posted pursuant to this Section 8.4.4.3(b). [
Appears in 5 contracts
Sources: Renewable Energy Credit Purchase and Sale Agreement, Renewable Energy Credit Purchase and Sale Agreement, Renewable Energy Credit Purchase and Sale Agreement
Termination of Project Development Security. If after the Commercial Operation Date no damages are owed to Buyer under this Agreement, then Seller shall no longer be required to maintain the Project Development Security, ; and the Project Development Security Security, including amounts held by Buyer as Daily Delay Damages due to a delayed Construction Start Date Date, shall be returned to Seller within five (5) Business Days of Seller’s provision of the Delivery Term Security; provided however, that with Buyer’s consent, Seller may elect to apply the Project Development Security toward the Delivery Term Security, if any, provided pursuant to this Section 8.4.
Appears in 3 contracts
Sources: Master Power Purchase and Sale Agreement, Master Power Purchase and Sale Agreement, Master Power Purchase and Sale Agreement
Termination of Project Development Security. If after the Commercial Operation Initial Delivery Date no damages are owed due and owing to Buyer under this Agreement, then Seller shall no longer be required to maintain the [Project Development Security], and Buyer shall return to Seller the [Project Development Security amounts held by Buyer as Daily Delay Damages due to a delayed Construction Start Date shall be returned to Seller Security] within five (5) Business Days of Seller’s provision of the Delivery Term Security; provided howeverSecurity unless, that with Buyer’s consent, Seller may elect elects to apply the [Project Development Security Security] posted pursuant to Section 4.3(a)(ii) toward the Delivery Term Security, if any, provided Security posted pursuant to this Section 8.44.3(b).
Appears in 1 contract
Sources: Renewable Energy Credit Purchase and Sale Agreement