Common use of Delivery Term Security Clause in Contracts

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. The Delivery Term Security shall be in the amount equal to ___________________ dollars ($____________)4. [Insert Subject to Footnote 25, 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 Settlement]5 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 Settlement]6 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 Settlement]7 for any 36 month period during the Delivery Term].