Common use of Buyer’s Rights and Remedies Clause in Contracts

Buyer’s Rights and Remedies. If at any time an Event of Default with respect to Seller has occurred and is continuing, then, unless Seller has paid in full all of its obligations hereunder that are then due, without limiting any other rights and remedies Buyer may have under this Agreement or may otherwise have at law or in equity (subject to this Agreement), Buyer may exercise one or more of the following rights and remedies: (i) all rights and remedies available to a secured party under applicable Law with respect to Credit Support held by Buyer and (ii) the right to liquidate any Credit Support held by Buyer and to apply the proceeds of such liquidation to any amounts payable to Buyer with respect to Seller’s obligations hereunder in such order as Buyer may elect. For purposes of this Section 6.3, Buyer may draw on the undrawn portion of any letter of credit provided as Credit Support up to the amount of Seller’s outstanding obligations hereunder toward the satisfaction of such obligations. Seller shall remain liable for amounts due and owing to Buyer that remain unpaid after the application of Credit Support pursuant to this Section 6.3.

Appears in 7 contracts

Samples: Power Purchase Agreement, Power Purchase Agreement, Power Purchase Agreement

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Buyer’s Rights and Remedies. If at any time an Event of Default with respect to Seller has occurred and is continuing, then, unless Seller has paid in full all of its obligations hereunder that are then due, without limiting any other rights and remedies Buyer may have under this Agreement or may otherwise have at law or in equity (subject to this Agreement)equity, Buyer may exercise one or more of the following rights and remedies: (i) all rights and remedies available to a secured party under applicable Law with respect to Credit Support held by Buyer Buyer, and (ii) the right to liquidate any Credit Support held by Buyer and to apply the proceeds of such liquidation to any amounts payable to Buyer with respect to Seller’s obligations hereunder in such order as Buyer may elect. For purposes the purpose of this Section 6.36.4, Buyer may draw on the undrawn portion of any letter Letter of credit Credit provided as Credit Support up to the amount of Seller’s outstanding obligations hereunder toward the satisfaction of such obligationshereunder. Seller shall remain liable for amounts due and owing owed to Buyer that remain unpaid after the application of Credit Support pursuant to this Section 6.3.6.4.‌

Appears in 3 contracts

Samples: Power Purchase Agreement, Power Purchase Agreement, Power Purchase Agreement

Buyer’s Rights and Remedies. If at any time an Event of Default with respect to Seller has occurred and is continuing, then, unless Seller has paid in full all of its obligations hereunder that are then due, without limiting any other rights and remedies Buyer may have under this Agreement or may otherwise have at law or in equity (subject to this Agreement)equity, Buyer may exercise one or more of the following rights and remedies: (i) all rights and remedies available to a secured party under applicable Law with respect to Credit Support held by Buyer Buyer, and (ii) the right to liquidate any and all Credit Support held by Buyer and to apply the proceeds of such liquidation to any amounts payable to Buyer with respect to Seller’s obligations hereunder in such order as Buyer may elect. For purposes the purpose of this Section 6.36.4, Buyer may draw on the undrawn portion of any letter of credit provided as Credit Support up to the amount of Seller’s outstanding obligations hereunder toward the satisfaction of such obligationshereunder. Seller shall remain liable for amounts due and owing owed to Buyer that remain unpaid after the application of Credit Support pursuant to this Section 6.36.4.

Appears in 3 contracts

Samples: Power Purchase Agreement, Power Purchase Agreement, Power Purchase Agreement

Buyer’s Rights and Remedies. If at any time an Event of Default with respect to Seller has occurred and is continuing, then, unless Seller has paid in full all of its obligations hereunder that are then due, without limiting any other rights and remedies Buyer may have under this Agreement or may otherwise have at law or in equity (subject to this Agreement)equity, Buyer may exercise one or more of the following rights and remedies: (i) all rights and remedies available to a secured party under applicable Applicable Law with respect to Seller’s Credit Support held by Buyer Xxxxx, and (ii) the right to liquidate any Seller’s Credit Support held by Buyer Xxxxx and to apply the proceeds of such liquidation to any amounts payable to Buyer with respect to Seller’s obligations hereunder in such order as Buyer may elect. For purposes the purpose of this Section 6.317.2, Buyer may draw on the undrawn portion of any letter of credit provided as Seller’s Credit Support up to the amount of Seller’s outstanding obligations hereunder toward the satisfaction of such obligationshereunder. Seller shall remain liable for amounts due and owing owed to Buyer that remain unpaid after the application of Seller’s Credit Support pursuant to this Section 6.317.2.

Appears in 3 contracts

Samples: Power Purchase Agreement, Energy Storage Agreement, Power Purchase Agreement

Buyer’s Rights and Remedies. If at any time an Event of Default with respect to Seller has occurred and is continuing, then, unless Seller has paid in full all of its obligations hereunder that are then due, without limiting any other rights and remedies Buyer may have under this Agreement or may otherwise have at law or in equity (subject to this Agreement)equity, Buyer may exercise one or more of the following rights and remedies: (i) all rights and remedies available to a secured party under applicable Law with respect to Credit Support held by Buyer Buyer, and (ii) the right to liquidate any Credit Support held by Buyer and to apply the proceeds of such liquidation to any amounts payable to Buyer with respect to Seller’s obligations hereunder in such order as Buyer may elect. For purposes the purpose of this Section 6.36.4, Buyer may draw on the undrawn portion of any letter letterLetter of credit creditCredit provided as Credit Support up to the amount of Seller’s outstanding obligations hereunder toward the satisfaction of such obligationshereunder. Seller shall remain liable for amounts due and owing owed to Buyer that remain unpaid after the application of Credit Support pursuant to this Section 6.3.6.4...

Appears in 1 contract

Samples: Power Purchase Agreement

Buyer’s Rights and Remedies. If at any time an Event of Default with respect to Seller has occurred and is continuing, then, unless Seller has paid in full all of its obligations hereunder that are then due, without limiting any other rights and remedies Buyer may have under this Agreement or may otherwise have at law or in equity (subject to this Agreement), Buyer may exercise one or more of the following rights and remedies: (i) all rights and remedies available to a secured party under applicable Law with respect to Credit Support held by Buyer and (ii) the right to liquidate any Credit Support held by Buyer Xxxxx and to apply the proceeds of such liquidation to any amounts payable to Buyer with respect to Seller’s obligations hereunder in such order as Buyer may elect. For purposes of this Section 6.3, Buyer may draw on the undrawn portion of any letter of credit provided as Credit Support up to the amount of Seller’s outstanding obligations hereunder toward the satisfaction of such obligations. Seller shall remain liable for amounts due and owing to Buyer that remain unpaid after the application of Credit Support pursuant to this Section 6.3.

Appears in 1 contract

Samples: Power Purchase Agreement

Buyer’s Rights and Remedies. If at any time an Event of Default with respect to Seller has occurred and is continuing, then, unless Seller has paid in full all of its obligations hereunder that are then due, without limiting any other rights and remedies Buyer may have under this Agreement or may otherwise have at law or in equity (subject to this Agreement)equity, Buyer may exercise one or more of the following rights and remedies: (i) all rights and remedies available to a secured party under applicable Law with respect to Credit Support held by Buyer Buyer, and (ii) the right to liquidate any Credit Support held by Buyer and to apply the proceeds of such liquidation to any amounts payable to Buyer with respect to Seller’s obligations hereunder in such order as Buyer may elect. For purposes the purpose of this Section 6.36.4, Buyer may draw on the undrawn portion of any letter Letter of credit Credit provided as Credit Support up to the amount of Seller’s outstanding obligations hereunder toward the satisfaction of such obligationshereunder. Seller shall remain liable for amounts due and owing owed to Buyer that remain unpaid after the application of Credit Support pursuant to this Section 6.3.6.4.‌‌‌‌

Appears in 1 contract

Samples: Power Purchase Agreement

Buyer’s Rights and Remedies. If at any time an Event of Default with respect to Seller has occurred and is continuing, then, unless Seller has paid in full all of its obligations hereunder that are then due, without limiting any other rights and remedies Buyer may have under this Agreement or may otherwise have at law or in equity (subject to this Agreement)equity, Buyer may exercise one or more of the following rights and remedies: (i) all rights and remedies available to a secured party under applicable Law with respect to Credit Support held by Buyer Buyer, and (ii) the right to liquidate any and all Credit Support held by Buyer Xxxxx and to apply the proceeds of such liquidation to any amounts payable to Buyer with respect to Seller’s obligations hereunder in such order as Buyer may elect. For purposes the purpose of this Section 6.36.4, Buyer may draw on the undrawn portion of any letter of credit provided as Credit Support up to the amount of Seller’s outstanding obligations hereunder toward the satisfaction of such obligationshereunder. Seller shall remain liable for amounts due and owing owed to Buyer that remain unpaid after the application of Credit Support pursuant to this Section 6.36.4.

Appears in 1 contract

Samples: Power Purchase Agreement

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Buyer’s Rights and Remedies. If at any time an Event of Default with respect to Seller has occurred and is continuing, then, unless Seller has paid in full all of its obligations hereunder that are then due, without limiting any other rights and remedies Buyer may have under this Agreement or may otherwise have at law or in equity (subject to this Agreement)equity, Buyer may exercise one or more of the following rights and remedies: (i) all rights and remedies available to a secured party under applicable Law with respect to Credit Support held by Buyer Buyer, and (ii) the right to liquidate any Credit Support held by Buyer Xxxxx and to apply the proceeds of such liquidation to any amounts payable to Buyer with respect to Seller’s obligations hereunder in such order as Buyer may elect. For purposes the purpose of this Section 6.3, Buyer may draw on the undrawn portion of any letter Letter of credit Credit provided as Credit Support up to the amount of Seller’s outstanding obligations hereunder toward the satisfaction of such obligationshereunder. Seller shall remain liable for amounts due and owing owed to Buyer that remain unpaid after the application of Credit Support pursuant to this Section 6.3.

Appears in 1 contract

Samples: Power Purchase Agreement

Buyer’s Rights and Remedies. If at any time an Event of Default with respect to Seller has occurred and is continuing, then, unless Seller has paid in full all of its obligations hereunder that are then due, without limiting any other rights and remedies Buyer may have under this Agreement or may otherwise have at law or in equity (subject to this Agreement)equity, Buyer may exercise one or more of the following rights and remedies: (i) all rights and remedies available to a secured party under applicable Law with respect to Credit Support held by Buyer Buyer, and (ii) the right to liquidate any Credit Support held by Buyer and to apply the proceeds of such liquidation to any amounts payable to Buyer with respect to Seller’s obligations hereunder in such order as Buyer may elect. For purposes of this Section 6.3, Buyer may draw on the undrawn portion of any letter of credit provided as Credit Support up to the amount of the Seller’s outstanding obligations hereunder toward the satisfaction of such obligationshereunder. Seller shall remain liable for amounts due and owing owed to Buyer that remain unpaid after the application of Credit Support pursuant to this Section 6.3.

Appears in 1 contract

Samples: Power Purchase Agreement

Buyer’s Rights and Remedies. If at any time an Event of Default with respect to Seller has occurred and is continuing, then, unless Seller has paid in full all of its obligations hereunder that are then due, without limiting any other rights and remedies Buyer may have under this Agreement or may otherwise have at law or in equity (subject to this Agreement)equity, Buyer may exercise one or more of the following rights and remedies: (i) all rights and remedies available to a secured party under applicable Law with respect to Credit Support held by Buyer Buyer, and (ii) the right to liquidate any Credit Support held by Buyer and to apply the proceeds of such liquidation to any amounts payable to Buyer with respect to Seller’s obligations hereunder in such order as Buyer may elect. For purposes the purpose of this Section 6.3, Buyer may draw on the undrawn portion of any letter Letter of credit Credit provided as Credit Support up to the amount of Seller’s outstanding obligations hereunder toward the satisfaction of such obligationshereunder. Seller shall remain liable for amounts due and owing owed to Buyer that remain unpaid after the application of Credit Support pursuant to this Section 6.3.

Appears in 1 contract

Samples: Power Purchase Agreement

Buyer’s Rights and Remedies. If at any time an Event of Default with respect to Seller has occurred and is continuing, then, unless Seller has paid in full all of its obligations hereunder that are then due, without limiting any other rights and remedies Buyer may have under this Agreement or may otherwise have at law or in equity (subject to this Agreement)equity, Buyer may exercise one or more of the following rights and remedies: (i) all rights and remedies available to a secured party under applicable Law with respect to Credit Support held by Buyer Buyer, and (ii) the right to liquidate any Credit Support held by Buyer and to apply the proceeds of such liquidation to any amounts payable to Buyer with respect to Seller’s obligations hereunder in such order as Buyer may elect. For purposes the purpose of this Section 6.36.4, Buyer may draw on the undrawn portion of any letter of credit provided as Credit Support up to the amount of Seller’s outstanding obligations hereunder toward the satisfaction of such obligationshereunder. Seller shall remain liable for amounts due and owing owed to Buyer that remain unpaid after the application of Credit Support pursuant to this Section 6.36.4.

Appears in 1 contract

Samples: Power Purchase Agreement

Buyer’s Rights and Remedies. If at any time an Event of Default with respect to Seller has occurred and is continuing, then, unless Seller has paid in full all of its obligations hereunder that are then due, without limiting any other rights and remedies Buyer may have under this Agreement or may otherwise have at law or in equity (subject to this Agreement)equity, Buyer may exercise one or more of the following rights and remedies: (i) all rights and remedies available to a secured party under applicable Law with respect to Credit Support held by Buyer Buyer, and (ii) the right to liquidate any Credit Support held by Buyer Xxxxx and to apply the proceeds of such liquidation to any amounts payable to Buyer with respect to Seller’s obligations hereunder in such order as Buyer may elect. For purposes the purpose of this Section 6.36.4, Buyer may draw on the undrawn portion of any letter of credit provided as Credit Support up to the amount of Seller’s outstanding obligations hereunder toward the satisfaction of such obligationshereunder. Seller shall remain liable for amounts due and owing owed to Buyer that remain unpaid after the application of Credit Support pursuant to this Section 6.36.4.

Appears in 1 contract

Samples: Power Purchase Agreement

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