Delivery Term Security. Prior to the Initial Delivery Date, Seller shall post Delivery Term Security in the amount equal to ___________________ dollars ($____________) [insert dollar amount equal to the greater of $40/kW multiplied by the Payment Quantity or 10% of the sum of the highest estimated Monthly Payments for any 36 month period during the Delivery Term] and in the form of cash, Letter of Credit, or Guaranty provided that, with Xxxxx’s consent, Seller may elect to apply the Project Development Security posted pursuant to Section 10.4(a)(i) toward the Delivery Term Security posted pursuant to this Section 10.4(a)(ii).
Delivery Term Security. Prior to the Initial Delivery Date, Seller shall post Delivery Term Security in the form of cash or Letter of Credit, in an amount equal to [Seller to insert dollar amount equal to $40/
Delivery Term Security. Prior to the Initial Delivery Date, Seller shall post and maintain Performance Assurance in an amount equal to Delivery Term Security minus Seller’s Collateral Threshold, provided that, with Buyer’s consent, Seller may elect to apply the Project Development Security posted pursuant to Section Article Ten(i) toward the Performance Assurance required pursuant to this Section 10.4(b)(ii). The Delivery Term Security shall be in the amount equal to ___________________ dollars ($____________) [insert dollar amount equal to the greater of $40/kW multiplied by the Payment Quantity or 10% of the sum of the highest estimated Monthly Payments [excluding Energy Settlement]4 for any 36 consecutive month period during the Delivery Term]. If after Seller’s posting of Performance Assurance under this Section Article Ten(ii) Buyer determines that there has been a change to the Seller’s Collateral Threshold and such change results in an increase to the amount of Performance Assurance required under this Section 10.4(b)(ii), Buyer shall provide Notice to Seller of the amount of such increase and Seller shall deliver to Buyer additional Performance Assurance in that amount no later than five (5) Business Days after the date of Buyer’s Notice.
Delivery Term Security. (A) CS-GT Projects with Contract Capacity less than or equal to three (3) MW: Delivery Term Security pursuant to this Section 8.4(a)(ii)(A) in the amount of $20/kW multiplied by the Contract Capacity of the Project as reflected in the Cover Sheet from the Commercial Operation Date, until the end of the Term, provided that, with Buyer’s consent, Seller may elect to apply the Project Development Security posted pursuant to Section 8.4(a)(i)(A) toward the Delivery Term Security posted pursuant to this Section 8.4(a)(ii)(A).
(B) CS-GT Projects with Contract Capacity greater than three (3) MW: Delivery Term Security pursuant to this Section 8.4(a)(ii)(B) in the amount of $120/kW multiplied by the Contract Capacity of the Project as reflected in the Cover Sheet from the date required pursuant to Section 3.1(c)(i) as a condition precedent to the Initial Energy Delivery Date, until the end of the Term; provided that, with Buyer’s consent, Seller may elect to apply the Project Development Security posted pursuant to Section 8.4(a)(i)(B) toward the Delivery Term Security posted pursuant to this Section 8.4(a)(ii)(C) and deliver or cause to be delivered to Buyer the difference between the posted Project Development Security and the required Delivery Term Security. The amount of Performance Assurance required under this Agreement shall not be deemed a limitation of damages. Except as specifically provided for in this Section 8.4(a), Buyer acknowledges that Seller shall not be required to post any additional security.
Delivery Term Security. The Delivery Term Security shall be in the amount equal to ___________________ dollars ($____________). [Insert dollar amount equal to (1) if the Delivery Term is <=3 years, 20% of the sum of the highest estimated Monthly Payments [excluding Energy Settlement]4 for any 12 consecutive month period during the Delivery Term, (2) if the Delivery Term is >3 years and ≤ 5 years, 10% of the sum of the highest estimated Monthly Payments [excluding Energy Settlement]5 for any 24 consecutive month period during the Delivery Term, or (3) if the Delivery Term is >5 years, the greater of $40/kW multiplied by the Payment Quantity or 10% of the sum of the highest estimated Monthly Payments [excluding Energy Settlement]6 for any 36 month period during the Delivery Term].
Delivery Term Security. Within five (5) Business Days prior to the Initial Delivery Date, Seller shall post Delivery Term Security in the form of cash or letter of credit, in an amount equal to [insert dollar amount equal to $]. With Buyer’s consent, Seller may elect to apply the Project Development Security posted pursuant to Section 10.4(a)(i) toward the Delivery Term Security. The amount of Performance Assurance required under this Agreement is not a limitation of damages. For the avoidance of doubt, Buyer has no obligation to post collateral under this Agreement.
Delivery Term Security. Delivery Term Security pursuant to this Section 8.4(a)(ii) in the amount of five percent (5%) of expected total Project revenues from the date required pursuant to Section 3.1(c)(i) as a condition precedent to the Initial Energy Delivery Date, until the end of the Term; provided that, with Buyer’s consent, Seller may elect to apply the Project Development Security posted pursuant to Section 8.4(a)(i) toward the Delivery Term Security posted pursuant to this Section 8.4(a)(ii) and deliver or cause to be delivered to Buyer the difference between the posted Project Development Security and the required Delivery Term Security.
Delivery Term Security. Pursuant to this Section 8.4(a)(iii) and prior to the Initial Delivery Date, Seller shall post Delivery Term Security in the amount equal to the sum of Xxxx-to-Market Value and Independent Amount of [insert amount; Independent Amount is applicable to Sellers and/or (their Guarantor’s) who are not rated or have a Credit Rating below BBB- or Baa3 by S&P and Xxxxx’x respectively. This amount shall be calculated as five (5%) percent of the notional value of expected capacity payments under the Agreement.], and in the form of [specify cash, Letter of Credit or Guaranty] ; provided that, with Buyer’s consent, Seller may elect to apply the [Project Development Security for New Facilities][Pre-Delivery Term Security for Existing Facilities] posted pursuant to Section [8.4(a)(i) for New Facilities][(8.4(a)(ii) for Existing Facilities] toward the Delivery Term Security posted pursuant to this Section 8.4(a)(iii). Beginning on the Initial Delivery Date, and throughout the Delivery Term, Buyer shall act as the calculation agent and will calculate the Xxxx-to-Market Value according to the formula set forth in Appendix XXII for the remainder of the Delivery Term. Seller is required to meet the collateral requirement within three (3) Business Days of such Notice from Buyer. The Delivery Term Security shall be no less than zero and no more than ____dollars ($__.00) [Insert appropriate amount depending on type of facility: two hundred and fifty thousand dollars ($250,000.00) per MW for combined cycle facilities or one hundred and twenty-five thousand dollars ($125,000.00) per MW if the Unit is a peaker] for the Maximum Contract Capacity for all the Units.
Delivery Term Security. Seller agrees to deliver to Buyer Delivery Term Security pursuant to this Section 4.3(b) in the amount of $ [insert dollar amount identified in Offer Form] and in the form of [specify cash, Letter of Credit or Guaranty] from the Initial Delivery Date until the end of the Term to secure its obligations under this Agreement, which Seller shall maintain in full force and effect for the period posted with Buyer. Any such Performance Assurance shall not be deemed a limitation of damages, unless otherwise specifically provided by the terms set forth in this Agreement. [Offers from New or Existing Facilities with Delivery Terms of less than one year: Seller to delete subsection.]
Delivery Term Security. Prior to the Initial Delivery Date, Seller shall post Delivery Term Security in the amount equal to _________ dollars ($__.00) [insert dollar amount equal to the greater of (a) $125.00/kW multiplied by the Design Dmax (in kW) or (b) ten percent (10%) of the sum of the highest estimated Monthly Fixed Payments for any thirty- six (36) month period during the Delivery Term] and in the form of [specify cash or Letter of Credit]; provided that, with Buyer’s consent, Seller may elect to apply the Project Development Security posted pursuant to Section 12.4(a)(i) toward the Delivery Term Security posted pursuant to this Section 12.4(a)(ii).
