Common use of CREDIT AND COLLATERAL REQUIREMENTS Clause in Contracts

CREDIT AND COLLATERAL REQUIREMENTS. (i) Seller shall post and thereafter maintain the Development Security in accordance with Section 4(b) of Exhibit F. (ii) Seller shall post and thereafter maintain the Performance Assurance, in accordance with Section 2(a) of Exhibit F, in an amount equal to [Option 1: 12 months of expected total Net Contract Capacity revenues] [Option 2: 12 months of expected total revenues] [Option 3: five percent of the expected total revenues] [Option 4: [As proposed by Seller, subject to Buyer’s acceptance in its sole discretion]] of the Generating Facility under this Agreement (the “Performance Assurance Amount”). The initial Performance Assurance Amount equals $[ ]. The Performance Assurance Amount will be revised upon any change to the Expected Term Year Energy Production. (iii) Seller shall comply with all of the provisions of Exhibit F.

Appears in 4 contracts

Samples: Power Purchase and Sale Agreement, Power Purchase and Sale Agreement, Power Purchase and Sale Agreement

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CREDIT AND COLLATERAL REQUIREMENTS. (i) Seller shall post and thereafter maintain the Development Security in accordance with Section 4(b) of Exhibit F. (ii) Seller shall post and thereafter maintain the Performance Assurance, in accordance with Section 2(a) of Exhibit F, in an amount equal to [Option 1: 12 months of expected total Net Contract Capacity revenues] [Option 2: 12 months of expected total revenues] [Option 3: five percent of the expected total revenues] [Option 4: [As proposed by Seller, subject to Buyer’s acceptance in its sole discretion]] of the Generating Facility under this Agreement (the “Performance Assurance Amount”). The initial Performance Assurance Amount equals $[ ]. $ N/A. The Performance Assurance Amount will be revised upon any change to the Expected Term Year Energy Production. (iii) Seller shall comply with all of the provisions of Exhibit F.

Appears in 1 contract

Samples: Power Purchase and Sale Agreement

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