Common use of Construction Security Clause in Contracts

Construction Security. 12.4.1.1 On or before Financial Closing, the Seller shall provide to the Purchaser security ("Construction Security") in the amount of [] to secure Seller’s obligations in the period between the Effective Date and the Commercial Operation Date (“Construction Period Security”). The Construction Security shall be an unconditional and irrevocable direct pay letter of credit issued by a bank acceptable to the Purchaser in form and substance satisfactory to the Purchaser. The Construction Security may be applied to the payment of liquidated damages or other Damages and accrued interest thereon as set forth in Clause 12.5.

Construction Security. 12.4.1.1 On or before Financial Closing, the Seller shall provide to the Purchaser security ("Construction Security") in the amount of [] ]. to secure Seller’s obligations in the period between the Effective Date and the Commercial Operation Date (“Construction Period Security”). The Construction Security shall be an unconditional and irrevocable direct pay letter of credit issued by a bank acceptable to the Purchaser in form and substance satisfactory to the Purchaser. The Construction Security may be applied to the payment of liquidated damages or other Damages and accrued interest thereon as set forth in Clause 12.5.

Construction Security. 12.4.1.1 On or before Financial Closing, the Seller shall provide to the Purchaser security ("Construction Security") in the amount of [] to ]to secure Seller’s obligations in the period between the Effective Date and the Commercial Operation Date (“Construction Period Security”). The Construction Security shall be an unconditional and irrevocable direct pay letter of credit issued by a bank acceptable to the Purchaser in form and substance satisfactory to the Purchaser. The Construction Security may be applied to the payment of liquidated damages or other Damages and accrued interest thereon as set forth in Clause 12.5.

Construction Security. 12.4.1.1 On or before Financial Closing, the Seller shall provide to the Purchaser security ("Construction Security") in the amount of [] to secure Seller’s obligations in the period between the Effective Date and the Commercial Operation Date (“Construction Period Security”). The Security”).The Construction Security shall be an unconditional and irrevocable direct pay letter of credit issued by a bank acceptable to the Purchaser in form and substance satisfactory to the Purchaser. The Construction Security may be applied to the payment of liquidated damages or other Damages and accrued interest thereon as set forth in Clause 12.5.

Construction Security. 12.4.1.1 On or before Financial Closing, the Seller shall provide to the Purchaser security ("Construction Security") in the amount of [] ◆]. to secure Seller’s obligations in the period between the Effective Date and the Commercial Operation Date (“Construction Period Security”). The Construction Security shall be an unconditional and irrevocable direct pay letter of credit issued by a bank acceptable to the Purchaser in form and substance satisfactory to the Purchaser. The Construction Security may be applied to the payment of liquidated damages or other Damages and accrued interest thereon as set forth in Clause 12.5.

Construction Security. 12.4.1.1 On or before Financial Closing, the Seller shall provide to the Purchaser security ("Construction Security") in the amount of [] ]. to secure Seller’s obligations in the period between the Effective Date and the Commercial Operation Date (“Construction Period Security”). The Security”).The Construction Security shall be an unconditional and irrevocable direct pay letter of credit issued by a bank acceptable to the Purchaser in form and substance satisfactory to the Purchaser. The Construction Security may be applied to the payment of liquidated damages or other Damages and accrued interest thereon as set forth in Clause 12.5.

Construction Security. 12.4.1.1 On or before Financial Closing, the Seller shall provide to the Purchaser security ("Construction Security") in the amount of [] ◆]. to secure Seller’s obligations in the period between the Effective Date and the Commercial Operation Date (“Construction Period Security”). The Security”).The Construction Security shall be an unconditional and irrevocable direct pay letter of credit issued by a bank acceptable to the Purchaser in form and substance satisfactory to the Purchaser. The Construction Security may be applied to the payment of liquidated damages or other Damages and accrued interest thereon as set forth in Clause 12.5.

Construction Security. 12.4.1.1 12.3.1.1 On or before Financial Closing, the Seller shall provide to the Purchaser security ("Construction Security") in the amount of [] ]. to secure Seller’s obligations in the period between the Effective Date and the Commercial Operation Date (“Construction Period Security”). The Construction Security shall be an unconditional and irrevocable direct pay letter of credit issued by a bank acceptable to the Purchaser in form and substance satisfactory to the Purchaser. The Construction Security may be applied to the payment of liquidated damages or other Damages and accrued interest thereon as set forth in Clause 12.512.4.