Collateral Requirement. On or before the thirtieth (30th) day following the Execution Date, Seller shall post and thereafter maintain a collateral requirement (the “Collateral Requirement”) equal to twenty dollars ($20.00) for each kilowatt of the Contract Capacity. The Collateral Requirement will be held by Buyer and must be in the form of either a cash deposit or Letter of Credit.
Appears in 9 contracts
Samples: Consent and Agreement, Consent and Agreement, Consent and Agreement
Collateral Requirement. On or before the thirtieth (30th) day following the Execution Date, Seller shall post and thereafter maintain a collateral requirement (the “Collateral Requirement”) equal to twenty dollars ($20.00) if Contract Capacity is less than 1,000 kW, or fifty dollars ($50.00) if Contract Capacity is greater than or equal to 1,000 kW, for each kilowatt of the Contract Capacity. The Collateral Requirement will be held by Buyer and must be in the form of either a cash deposit or Letter of Credit.
Appears in 3 contracts
Samples: Power Purchase Agreement, Renewable Generator Power Purchase Agreement, Renewable Generator Power Purchase Agreement
