Common use of Administration of Performance Assurance Clause in Contracts

Administration of Performance Assurance. The term “Local Business Day” shall be amended to read “Business Day” throughout. Subparagraph 6(a)(ii)(B) is amended by: (a) Deleting “to perfect the security interest of the Non- Downgraded Party” and replacing it with “to perfect the security interest of the Downgraded Party”. (b) Deleting the last two (2) sentences of that paragraph. Paragraph 6(a)(iii) is amended to read in its entirety as follows: “[Intentionally deleted.]. Cash held by Party B as Performance Assurance shall not have any interest calculated for or paid, and no Interest Amount shall be calculated as being due from, or transferrable or payable by, Party B.

Administration of Performance Assurance. The term “Local Business Day” shall be amended to read “Business Day” throughout. Subparagraph 6(a)(ii)(B) is amended by: (a) Deleting “to perfect the security interest of the Non- Downgraded Party” and replacing it with “to perfect the security interest of the Downgraded Party”. (b) Deleting the last two (2) sentences of that paragraph. Paragraph 6(a)(iii) is amended to read in its entirety as follows: “[Intentionally deleted.]. Cash Xxxx held by Party B as Performance Assurance shall not have any interest calculated for or paid, and no Interest Amount shall be calculated as being due from, or transferrable or payable by, Party B.