Delivery of Credit Support. On any Business Day during the Services Term on which (a) no Event of Default has occurred and is continuing with respect to Buyer, and (b) no termination date has occurred or has been designated as a result of an Event of Default with respect to Buyer for which there exist any unsatisfied payment obligations with respect to Buyer, then Buyer may request, by written notice, that Seller Transfer to Buyer, or cause to be Transferred to Buyer, Credit Support for the benefit of Buyer, having a Value of at least the Collateral Requirement (“Credit Support Delivery Amount”). Such Credit Support shall be delivered to Buyer on the next Business Day if the request is received by the Notification Time; otherwise Credit Support is due by the close of business on the second Business Day after the request is received.
Appears in 19 contracts
Samples: Power Purchase Agreement, Power Purchase Agreement, Power Purchase Agreement
Delivery of Credit Support. On any Business Day during the Services Term on which (a) no Event of Default has occurred and is continuing with respect to Buyer, and (b) no termination date has occurred or has been designated as a result of an Event of Default with respect to Buyer for which there exist any unsatisfied payment obligations with respect to Buyer, then Buyer may request, by written notice, that Seller Transfer to Buyer, or cause to be Transferred to Buyer, Credit Support for the benefit of Buyer, having a Value of at least the Collateral Requirement (“Credit Support Delivery Amount”). Such Credit Support shall be delivered to Buyer on the next Business Day if the request is received by no later than 1:00 p.m. Eastern Prevailing Time on the Notification TimeBusiness Day that the request for Credit Support was made; otherwise Credit Support is due by the close of business on the second Business Day after the request is received.
Appears in 2 contracts
